The Federation of
St. Kitts and Nevis is an island nation in the Caribbean.
St. Kitts is an independent
Commonwealth Realm and Queen Elizabeth the second is the head of state.
Located in the northern Leeward Islands
southeast of Puerto Rico. The larger island is St. Kitts, with most of
the population of 40,000, and the smaller Nevis is separated from it by
a 2 mile channel.
St. Kitts and Nevis are uniquely situated in
the lesser Antilles with close proximity to St. Barth’s, Anguilla, St.
Marten, Antigua, Barbuda, Montserrat, Saba and Saint Eustatius. These
islands are all within a 20-minute flight time, or few hours by
powerboat or a day sail away.
Both of the islands offer beautiful and
dramatic views of the surrounding islands, the Atlantic Ocean and
Caribbean Sea with their crystal clear waters for swimming, diving,
fishing and boating, and lush towering volcanic peaks with many
varieties of flora and forna and fantastic hiking trails. There are also
many beautiful secluded beaches with sand colours ranging from golden to
pink to black, and off shore coral reefs and volcanic rocky coves for
snorkeling and shelling. Such is the variety of landscape and beauty of
The housing market in St Kitts and Nevis
provides opportunities for buying a house overseas. In fact St Kitts and
Neivs was names 18th in the top 20 places to buy abroad by Amanda Lamb
on Channel 4's A place in the sun .
To purchase property in St. Kitts and Nevis as a foreigner, you must
obtain an Alien Land Holding License or you can purchase an Economic
Citizenship. A lawyer is needed to obtain the Alien License and to
complete the sale. Virtually all property in St. Kitts and Nevis is
freehold, while properties in Frigate Bay, St. Kitts do not require the
purchaser to obtain an Alien Land Holding License. The whole process can
take from 2 to 4 months usually.
Once a property has been found and a sales
contract has been agreed upon, the the purchaser must apply for the
Alien Land Holding License. Typically a 10% down payment is made and
held in escrow during this process. When the Alien License is granted,
10% of the property value is due to the government to obtain the
Legal: Your appointed
lawyer will conduct the title research and due diligence, which includes
a land survey. This can take up to two weeks and will cost $350 for a
copy of the survey. Your solicitor prepares the Memorandum of Transfer,
then searches the title at the Land Registry.
Taxes and Fees:
Recently enacted changes to the stamp duty require that the purchaser
pay a 6% stamp duty upon purchase. There is another .2% of purchase
price due for the Land Assurance fee. There is also a $7.20 Registration
Fee. This is submitted to Inland Revenue Department prior to closing and
takes about two weeks to complete. Lawyers’ fees are: first $25,000 of
sale price 2.5%, second $25,000 2% and remainder is 1%.
There is no personal Income Tax or Inheritance
Tax. House Tax ranges from US $800 to US $2,000 per annum.
The vendors solicitor prepares a linen copy of the new Certificate of
Title and finalizes the Memorandum of Transfer.
The Memorandum of Transfer is submitted to
Supreme Court Registry. The final registration of your property takes
from 30-45 days to complete. You can also purchase land if you have an
Economic Citizenship in St. Kitts and Nevis, but this is a completely