If you want to incorporate in Saint Kitts and Nevis, this article explains the tax laws for an IBC, which is the most common company structure in Saint Kitts and Nevis.
International Business Companies (IBCs) in Saint Kitts and Nevis are entitled to do business outside the country and may have restrictions to trade with residents, own real estate within the territory and conduct business activities related to banking, insurance, assurance, fund and collective investment schemes. IBCs income accrued offshore, from our research, and these things do change, is tax-exempt. This ranks Saint Kitts & Nevis as 1st overall with regards to corp. taxation rate internationally.
IBCs in Saint Kitts & Nevis are commonly used for estate planning, asset protection and confidentiality, international trading, tax planning, holding company and financial management.
An IBC may be formed by one or more shareholders, one or more directors and a secretary, who may be natural or legal persons. Nominee shareholders and directors are allowed. Registered agent may be required. Minimum paid up capital is $1. Shares may be issued as registered shares, preference shares, bearer shares, redeemable shares and shares with or without voting rights attached. Migration of Domicile is allowed.
Details of shareholders and directors may not be publicly disclosed. An IBC may be required to prepare and maintain accounting records, but may not be required to file annual reports, annual tax returns or financial statements.
Dividends paid or received by an IBC are not subject to taxation. Dividends are distributions of earnings of the business, determined by the board, to a class of its shareholders. Dividends can be one of the following cash payments, shares of stock, or other property. Capital Gains are not subject to taxation. A capital gains tax is levied on the profits that a corporation or natural person realizes when they sell sells a capital asset for a price that is higher than the purchase price.
Payments on dividends, interests, royalties or fees made by an IBC to non-residents are exempted of withholding taxes.
Value-added tax applies to the sales of goods and supply of services within the country. The VAT rate in St. Kitts & Nevis is 17.00%, that ranks as 1st when compared to value added tax rate worldwide. There are real property and transfer taxes in St. Kitts & Nevis.
The above is not tax or legal advice for your individual circumstances. We are able to to reference you to an expert in Saint Kitts and Nevis who can properly advise you. Ready to get started? Click incorporate now if you are in a hurry, or press the free consultation button above.
It takes approximately 27 hours to file and prepare documents for a Saint Kitts and Nevis Common law.
The corporate tax is approximately 0% which is 1 in the world.
Owners of a company in Saint Kitts and Nevis are not allowed to carry back a loss and may be allowed to carry forward a loss for 6 years.
The vat rate in Saint Kitts and Nevis is 0% which ranks 1 in the world.