FINANCIAL SERVICES the registration of Foundations in St. Kitts. On this basis, any person acting on behalf of the Founder, on delivering the Articles of a Foundation to the Registrar and on payment of the registration fee may apply to have a Foundation registered. The Founder is any person who transfers the initial Asset/Capital to the Foundation.
The Advantages of Establishing a Foundation in St. Kitts • Anyone can be a Founder to a Foundation. • There are no capital requirements for the registration of a Foundation. • An Exempt Foundation will be exempted from taxes. • Registration fee is competitive i.e. only $200 US • The Registration process takes only 24 hrs.
The Advantages of Establishing a Captive Insurance Company in St. Kitts Corporations or affiliated persons may form a Captive Insurance Company for the following reasons: 1. Minimizing costs by eliminating a large percentage of traditional insurance company overheads; 2. Access to the lower-cost of reinsurance market; 3. Retaining profits that would otherwise have been paid to commercial insurance (premiums in excess of amounts repaid to cover losses); 4. Earning additional income on funds it controls by choosing lucrative financial instruments in which the company’s premiums may be invested in; 5. Reducing risk by choosing insured parties with a low risk profile; 6. Have control over the design of the company’s policies, as well as, the ability to repay losses incurred; 7. The ability to insure risks which would otherwise be uninsurable
Financial Services Regulatory Commission P.O. Box 898, Upstairs Karibhana Building Liverpool Row, Basseterre St. Kitts, East Caribbean Tel: +1 869 466 5048/467-1019 Fax: +1 869 466 5317 E-mail: skanfsd@sisterisles.kn Website: www.fsrc.kn 50
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