How difficult is the property purchase process in St. Kitts & Nevis?
Foreign ownership of property is allowed in St. Kitts and Nevis. There are two ways of acquiring property: • through obtaining an Alien Land-holding License; and, • through Economic Citizenship. To obtain an Alien Land-holding License, one must hire a lawyer for assistance. Once the License is granted and a property has been chosen, and agreement of sale is drawn up by the seller and signed by both parties. The buyer will be required to pay a deposit of 10% to 15% of the sale price to reserve the property. Closing usually takes two to four months. This entails due diligence, the transfer of deed, and payment of government duties. Recently, the Government of St. Kitts and Nevis passed newly amended bills. This includes the Amended Stamp Bill, which postulates that the previous Stamp Duty of 12% being paid by the seller for freehold property will be replaced by a 6% Stamp Duty, paid by the buyer. Stamp Duty is at 5% for condominiums, 14% in Special Development Areas, and 18.5% for the So
