PAR EXCELLENCE REALTORS  -  FINANCIAL INFORMATION

THE FEDERATION OF ST KITTS AND NEVIS WELCOMES FOREIGN INVESTORS AND DO OFFER ATTRACTIVE INCENTIVES TO PURCHASERS WHO OBTAIN PROPERTIES IN CERTAIN DESIGNATED AREAS.

FOR EXAMPLE, NON NATIONALS ARE EXEMPTED FROM THE NORMAL 10% ALIEN LANDHOLDING TAX WHEN PURCHASING IN THE PICTURESQUE FRIGATE BAY AND TURTLE BEACH AREAS. (PLEASE NOTE THAT THE APPLICATION PROCESS WILL STILL HAVE TO BE COMPLETED.) IN TURTLE BEACH ONLY.

    Views to Nevis from Turtle Beach Hill

THE PURCHASE OF PROPERTIES IN THESE AREAS ALSO MAKES THE INVESTOR AND HIS FAMILY ELIGIBLE FOR ECONOMIC CITIZENSHIP. ( FOR MORE DETAILS, PLEASE CLICK ON OUR ECONOMIC CITIZENSHIP LINK)

POTENTIAL BUYERS WILL BE INTERESTED TO KNOW THAT PROPERTY FINANCING IS AVAILABLE FROM ALL MAJOR FININCIAL INSTITUTIONS ON THE ISLANDS. 

LOAN APPLICATIONS ARE APPROVED USING INTERNATIONAL LENDING GUIDELINES. TYPICALLY, THE BANKS REQUIRE A 20% DOWNPAYMENT OF THE TOTAL COST OF THE PROPERTY. 

INTEREST RATE RANGE FROM 10-12% PER YEAR, AMORTIZED OVER A 20 YEAR PERIOD. 

IN ADDITION TO THE 20% DOWN PAYMENT, THE BANK REQUIRES THE FOLLOWING INFORMATION TO PROCESS THE LOAN. 

PROPER APPRAISAL, PROOF OF INCOME ( LETTER OF EMPLOYMENT AND COPY OF TAX RETURNS) 



INFORMATION TO KEEP IN MIND:

OTHER MAJOR COST RELATED TO THE PURCHASING OF PROPERTY THAT MUST BE MET BY THE PURCHASER. 10% OF THE PURCHASE PRICE WHICH REPRESENTS ALIEN LAND HOLDING TAX ( APPLICABLE FOR NON-NATIONALS) OUT OF THE TAX EXEMPTED AREAS.

LEGAL FEES & APPROXIMATELY 1.5% OF THE TOTAL COST OF THE PROPERTY( TO TRANSFER THE PROPERTY)

LEGAGL FEES AND STAMP DUTY (APPROXIMATELY 3% OF MORTGAGE AMOUNT) &.TO REGISTER MORTGAGE ON PROPERTY APPRAISAL, SURVEYING AND OTHER TRANSFERS ( APPROXIMATELY $5000) 

PROPERTY MUST BE FULLY INSURED WITH ACT OF GOD COVERAGE. 

INSURANCE FEE IS CALCULATED AT APPROXIMATELY $10 PER $1000 OF COVERAGE.

                    
ST KITTS BANKS:

SCOTIABANK -                          TEL: 465-4141  

FIRST CARRIBBEAN                   869-465-1081

ROYAL BANK OF CANADA          869-465-2389

NATIONAL BANK                        869-465-2204