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Ease of Doing Business in

St Kitts and Nevis

St Kitts and Nevis Download Profile (1713.9KB, pdf)
Region Latin America & Caribbean
Income Category High income
Population 55,572
GNI Per Capita (US$) 15,560
City covered Basseterre

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 134 127 down
7
53.96 55.13 down
1.17
Starting a Business 92 83 down
9
85.75 85.66 up
0.09
Dealing with Construction Permits 41 38 down
3
75.68 75.64 up
0.04
Getting Electricity 90 85 down
5
70.09 70.02 up
0.07
Registering Property 184 169 down
15
28.79 40.73 down
11.94
Getting Credit 157 152 down
5
25.00 25.00
-
Protecting Minority Investors 102 97 down
5
51.67 51.67
-
Paying Taxes 143 140 down
3
57.86 57.86
-
Trading across Borders 72 73 up
1
79.26 79.26
-
Enforcing Contracts 46 46
-
65.51 65.51
-
Resolving Insolvency 169 169
-
0.00 0.00
-

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 92

DB 2016 Rank: 83

Change in Rank: down9

DB 2017 DTF (% points): 85.75

DB 2016 DTF (% points): 85.66

Change in DTF (% points): up0.09

Standardized Company
Legal form: Private Limited Liability Company
Paid-in minimum capital requirement: XCD 0
City: Basseterre
Indicator St Kitts and Nevis Latin America & Caribbean OECD high income
Procedure – Men (number) info_outline 7.0 8.3 4.8
Time – Men (days) info_outline 18.5 31.6 8.3
Cost – Men (% of income per capita) info_outline 7.2 31.5 3.1
Procedure – Women (number) info_outline 7.0 8.3 4.8
Time – Women (days) info_outline 18.5 31.6 8.3
Cost – Women (% of income per capita) info_outline 7.2 31.5 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 2.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Search and reserve company name (can be done online)

    Agency: The Financial Services Regulatory Commission

    The Financial Services Department has developed a database that allows company name searches to be conducted immediately.
    Less than one day (online procedure) XCD 54
    2

    Prepare company statutes

    Agency: Lawyers or Accountants with licenses    

    The lawyers usually prepare the company documents even though it is not mandated by law it is a common practice.
    1 day XCD 2,500 (lawyer’s fees)
    3

    Register with Commercial Registry and obtain certificate of incorporation

    Agency: Registrar of Companies, Financial Services Regulatory Commission

    The registration fee is XCD 270, and the annual filing fee is XCD 270. For changes of directors, addresses, and so forth, the fee is XCD 80.
    3 days on average XCD 270
    4

    Purchase company ink stamp

    Agency: Seal maker

    The company can choose either an ink stamp or a company seal or both (they serve the same purpose). However, the ink stamp is more commonly used.
    10 days XCD 60 - XCD 190
    * 5

    Obtain business license

    Agency: Ministry of Finance, Financial Services Regulatory Commission

    The Ministry of Finance issues to the company the business license and notifies the Inland Revenue Department to issue the tax number.
    10 days, simultaneous with procedure 4 XCD 200
    6

    Obtain tax identification number

    Agency: Inland Revenue Department

    The Tax Identification Number (TIN) can be obtained at the Inland Revenue Department.
    The TIN number is issued on registration as VAT taxpayer
    3 days no charge
    * 7

    Register firm as an employer with the Social Security Office

    Agency: Social Security Board

    A new company must register with the Social Security Office within 14 days by providing the necessary information on a designated registration form.
    1 day on average, simultaneous with procedure 8 no charge

    * Takes place simultaneously with previous procedure.