This is a short-term debt obligation backed by the St. Kitts-Nevis government with three maturity periods; 91 days (three months), 182 days (six months) and 365 days (one year). These bills are usually sold at a discount from the par amount or the face value.
Government Savings Certificates
A registered nontransferable certificate of the St. Kitts-Nevis government issued in multiples of $1000 with a 180 day maturity period from date of issued and paid at a simple interest rate.
National Savings Scheme
National Savings Scheme (NSS) is a three (3) years assured saving plan that offers great returns. With this scheme, customers pay a set amount each month for three years. Persons interested in letting their savings sit for an additional year can do so but will not be required to make any payments for that year. Upon maturity, customers will receive the accumulated amount, the interest compounded at the end of the third or fourth year and two (if collected after 3 yrs) or four (if collected after 4 yrs) bonuses which is made up of the specified amount deposited monthly.
NSS does not offer the benefits of liquidity. There should be no premature withdrawal facility except in case of the death of the holder or any other major incidents. However, the account can be closed at the discretion of the investor at any point but will not reap the benefits of the savings other than the amount paid up to date of withdrawal. Direct deposits can be made from salaries, wages or pension.
Government Savings Bank
GSB is a saving plan that allows customers to set aside a portion of their liquid assets while earning a monetary return. Upon opening the account, a passbook would be presented to the customer which allows deposits and withdrawals of any desired amount be made at any time.
Citizenship By Investment
The Citizenship by Investment Unit (CIU) is the ONLY Authority charged with handling all matters concerning Economic Citizenship in the Federation of St. Kitts and Nevis.
The CIU was established following the implementation by the Government of St. Kitts and Nevis of a series of measures aimed at strengthening the already tight regulatory mechanisms currently in place in respect of its Citizenship by Investment Program. This Program has been in place for more than two decades and has distinguished itself from many other similar programs by rigidly enforced investment requirements and meticulous due diligence procedures that seek to ensure that only persons of good character are attracted to the Federation through this program. The CIU ensures that the high standards of the Program are maintained at all times.
The Office of the Prime Minister, which plays a key role in investment promotion, has been assigned responsibility for the program and has established this dedicated Citizenship-by-Investment Unit.
St. Kitts Investment and Promotion Agency
SKIPA proactively promotes St. Kitts to international and regional markets as an attractive investment location that offers a wide array of opportunities. The investment promotion efforts of the agency are geared towards attracting the right type of investor that will positively contribute to the long term development of the country. SKIPA seeks to generate investments which are in line with its strategic objectives as outlined in the National Adaptation Strategy 2006-2013 and which will diversify the economy of St. Kitts.
SKIPA also offers investment facilitation services, which include providing information on topics such as demographics, infrastructure and workforce, to assist in the investment decision. It also includes facilitating the successful establishment of businesses in St. Kitts, by becoming the investor’s point of contact for matters related to the procedures of establishing a business in St. Kitts.
After Care Services
SKIPA believes that companies operating in St. Kitts should be supported even after they are established. SKIPA assists these companies by using its wealthy of information and position within the country to provide opportunities for expansion and growth. This is usually accomplished through the securing of tax concessions.
SKIPA lobbies the government to implement policy changes which will enhance the country’s investment environment and increase the ease of doing business. This includes documenting, standardizing and eventually streamlining procedures, reforming the investment incentives regime and providing for a transparent and level playing field for all investors regardless of origin, project size or years in operation.