St. Kitts and Nevis are the member of the ECCU and the ECCB. As a member of OEC, both have a fully liberalized Foreign exchange system. Furthermore, the currency of exchange in both these places is the Eastern Caribbean Dollar (XCD). The XCD was pegged to the USA dollar at a rate of XCD 2.70 to USD 1.00 in 1976. As a result, XCD doesn’t fluctuate, thus creating a stable currency environment for trade and investment in these areas.
St. Kitts and Nevis Remittance Policy
The Financial companies and brokerage agencies registered in St. Kitts and Nevis have the right to repatriate all kinds of capital, royalties, dividends, and profits. There is no restriction on the redemption of dividend for totally foreign-owned firms.
On the other hand, there is no Foreign exchange control in St. Kitts and Nevis. The invoicing of foreign trade transactions is allowed in any currency. As an FX broker, there are no controls on the transfer of funds. St. Kitts and Nevis are a member of the Caribbean Financial Action Task Force.
St. Kitts and Nevis boast of having some of the secured IBC laws in the world. As an FX brokerage agency, it ensures that client’s confidentiality, privacy with low financial risk make these countries an excellent place for the offshore market.
Benefits of Incorporating a company in St. Kitts and Nevis
- In order to open a FX brokerage agency, registration takes usually take 1 business day
- The broker can easily open a FX merchant account for their clients without any kind of worries
- Resident Agent Service for the 1st year
- You can successfully open a FX brokerage company at a fast pace
- Approval rate is high in opening a FX brokerage agency around these regions
Documents Required from Your client’s end
- Certificate of Incorporation
- Articles of Association
- Appointment of First Director
- Share Certificates
- Preparation acc. opening docs (if applied)