Banking and Finance:

The Eastern Caribbean Central Bank, The Eastern Caribbean Home Mortgage Bank, and The Eastern Caribbean Securities Exchange have their headquarters in St. Kitts. Three international banks are represented in St. Kitts (Bank of Nova Scotia, First Caribbean International Bank, and RBC Royal Bank of Canada) and two in Nevis (Bank of Nova Scotia and First Caribbean International Bank).  Local and regional banks include St. Kitts-Nevis-Anguilla National Bank, Bank of Nevis, and RBTT Bank. There is currently limited investment banking services. Banks maintain deposits in XCD, USD and GBP. Local foreign currency regulations regarding the conduct of USD current accounts stipulate that an account may not be opened with less than USD 1,000 and if at any time its credit balance falls below that amount such account shall forthwith be closed and shall not again be opened within one year at the same bank.

The currency used in St. Kitts and Nevis is the East Caribbean Dollar ("XCD") which is currently fixed at XCD 2.70 (2.6882 - 2.7169) per dollar of the United States of America ("USD").

The legal profession is represented in St. Kitts and Nevis by Barristers and Solicitors of the High Court. They alone have the right to practice before the Courts of St. Kitts and Nevis, and alone may give advise on local law within the Federation. PricewaterhouseCoopers and PKF International auditing firms, are represented in St. Kitts and Nevis.

New legislation has permitted St. Kitts to offer a wide range of trust and corporate services. Trust companies such as Fidesco Trust Corporation, through their professional and prompt service, can assist establishing legal structures. For additional information see:

    Companies Act, 1996, as amended

    Limited Partnerships Act, 1996

    Foundations Act, 2003

    Trusts Act, 1996