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St Kitts and Nevis

Population: 53,000
Language: English
Economy: Driven by tourism, real estate, and financial market sectors
Currency: Eastern Caribbean dollar

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St Kitts and Nevis

Country Overview

St. Kitts and Nevis is a dual-island nation situated between the Atlantic Ocean and the Caribbean Sea. Located in the northern part of the Leeward Islands, the Federation of Saint Christopher and Nevis(also known as the Federation of St.Kitts and Nevis), is a federal country in the West Indies with an area of 267 km2 and an approximately 54,000-strong population. The nationgained independence in 1983 and became its own sovereign state.It has a marine tropical climate with an average temperature of 26 ℃ and an annual rainfall of 1,400mm in the island of St.Kitts and 1,220mm in the island of Nevis.

St. Kitts and Nevis is known for its cloud-covered mountains, beaches, and rain forest. The two islands are home to a dormant volcano and numerous historical sites such as the Brimstone Fortress. The capital city Basseterre is located in St. Kitts, the larger island of the two. Nevis, the smaller island, lies about 3 km southeast to St.Kitts.The official language is English, and the national currency is the Eastern Caribbean Dollar. The dual nation follows the British common law practice.

Foreign investors can benefit from:

  1. No income tax.
  2. Ease of conducting business on the island.
  3. Advanced banking systems

 

Real Estate

Over recent years, the real estate market trend in St. Kitts and Nevis has been driven by development projects and real estate sales linked to the St. Kitts and Nevis Citizenship-by-Investment (CBI) Program. The CBI program has upgraded its real estate offerings and now offers high-quality luxury homes, beachfront apartments, and hotel suites to investors.

Some other factors that could have influenced the flourishing real estate sector include the relative ease of ownership of property in the nation, the generally great value for the price of property as opposed to other countries in the region, and the highly attractive tax incentives. Freedom from income tax, capital gains tax, inheritance tax, and gift tax have positively impacted the real estate sector. In addition, the growing tourism sector provides income-generating potential for property owners who chose to offer their homes up for rental.

Moreover, there are direct international flights to St. Kitts from the USA and the UK, and flights to Nevis via San Juan (Puerto Rico) or St. Maarten, allowing international investors to enjoy world-class resorts, golf courses, restaurants, and spas all-year round.

The successful and well-established CBI program offering the tax and travel benefits of full citizenship in exchange for an investment in approved real estate, along with no requirement for citizens to reside in the nation, has further bolstered the real estate boom on the islands.

Nevis Style Realty’s proprietor Wayne Tyson estimates that at least 60% of real estate sales are linked to the nation’s CBI program.

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