Starting a business is a decision that comes with a lot of risks. There are also a few things that you may have to consider when thinking of starting a business in St Kitts. Persons who are looking to setup up businesses such as retail establishments will have to choose the right location and those starting-up service companies, such as construction contractors, and may need special training and equipment.
As a business owner, you must consider which form of legal entity best suits your business needs now and in the future as the business grows.
Here is a list of steps that you can follow when starting a business in St Kitts and Nevis:
Step 1 – Visit the Financial Services Regulatory Commission and search their database of companies in St Kitts and Nevis to make sure that the name of the company you are thinking of registering isn’t already taken.
Step 2 – Prepare and File company articles of incorporation. This is usually done by Local Corporate Service Providers but you can do you it by yourself if you wish (most people hire a service provider). Once your application is successful, you will receive your certificate of incorporation.
Step 3 – Purchase a company seal and stamp. The stamp is needed to open the company bank account.
Step 4 – Register for a business license. This is done by making application to the Ministry of Finance or the Financial Services Regulatory Commission, depending on the type of business you are registering. After your application has been processed, it will be forwarded to the Inland Revenue Department and they will issue you a tax identification number. Click here to download St Kitts and Nevis Application for License.
Step 4 – Open a bank account with a local bank. (We can assist you with opening a bank account in St Kitts and Nevis)
Step 6 – After receiving your business license you should register your business/company as an employer at the Social Security Office (within 14 days).
If you are not interested in forming a company then you can skip steps 1-3. With these few steps, you can successfully start a business in St Kitts and Nevis.
We can assist you with all your business and company formation needs in St Kitts and Nevis.
Another option for starting a business in St Kitts and Nevis to buy an existing business that is for sale. Find a Business for sale in St Kitts and Nevis.
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