Starting a Business in

St Kitts and Nevis

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in St Kitts and Nevis. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

Compare St Kitts and Nevis to 189 other economies.

  • No. Procedure Time to Complete Associated Costs

    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

    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)

    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

    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

    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.