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Guide to starting business in Saint Kitts and Nevis

Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.

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

This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Search and reserve company name1 dayXCD 54
2Prepare company statutes1 dayXCD 2500 (lawyer’s fees)
3Register with Commercial Registry and obtain certificate of incorporation2-3 daysXCD 270
4Purchase company ink stamp10 daysXCD 60 - XCD 190
* 5Obtain business license10 days, simultaneous with procedure 4XCD 200
6Obtain tax identification number3 daysno charge
* 7Register firm as an employer with the Social Security Office1-2 days, simultaneous with procedure 8no charge
* Takes place simultaneously with another procedure.
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