July 29, 2023


 min read

St. Kitts and Nevis Banking System - The Ultimate Guide






Saint Kitts and Nevis


St. Kitts and Nevis Banking System - The Ultimate Guide


Located in the heart of the Caribbean and 3 hours away from the continental United States, the dual-island nation of St. Kitts and Nevis has not only pristine beaches and lush landscapes but also a robust and sophisticated banking system. Despite being one of the smallest countries in the region, St. Kitts and Nevis has managed to build a resilient financial infrastructure that not only serves its local population but also attracts international investors and high-net-worth individuals from around the world.

Moreover, St. Kitts and Nevis offers Citizenship by Investment Program (CBI), also known as the St. Kitts and Nevis CBI, which is a unique and attractive opportunity for investors. This program allows foreign nationals to acquire citizenship through investment in the country's economy. Introduced in 1984, it is the longest-standing citizenship by investment program in the world.

As a citizen of St. Kitts and Nevis, you can enjoy a tax-friendly environment, visa-free travel to  157 countries, and the freedom to live, work, and study in this beautiful Caribbean nation. The program is anchored on the principles of integrity, robust due diligence, confidentiality, and international compliance.

Banking System in St. Kitts and Nevis

The banking system in St. Kitts and Nevis is well-regulated and provides a secure environment for your financial transactions. The country is home to both local and international banks, offering a range of services to meet your personal and business needs.

The Eastern Caribbean Central Bank (ECCB) regulates the banks in St. Kitts and Nevis. The ECCB's primary role is to maintain the stability of the Eastern Caribbean Currency and the integrity of the banking system. This means you can trust that your investments and savings are safe in this Caribbean nation.

The banking system in St. Kitts and Nevis is known for its confidentiality and privacy. The country's laws protect the privacy of banking clients, ensuring that your financial information is secure.

Benefits of a St. Kitts and Nevis Bank Account

Opening a bank account in St. Kitts and Nevis can offer several benefits, particularly for both residents and non-residents, including those interested in offshore banking.

Offshore Banking Opportunities

St. Kitts and Nevis is known for its offshore financial services. For non-residents, opening an offshore bank account can offer advantages such as potential tax benefits and asset protection. However, it's crucial to comply with the tax regulations in your home country.

International Business

For businesses with international operations, having a bank account in St. Kitts and Nevis can facilitate cross-border transactions and provide access to the country's stable banking system.


Holding an account in a different jurisdiction can be a way to diversify your banking assets, spreading potential risks across multiple countries and currencies.

Ease of Access

St. Kitts and Nevis offer various banking facilities, including modern online banking services and ATMs, making it convenient to access funds and conduct transactions. Most banks offer online banking services, allowing you to access your account, make transactions, and monitor your balance from the comfort of your home or office abroad.

Wealth Management

Having a bank account in St. Kitts and Nevis allows you to take full advantage of the country's tax benefits. As a citizen, you can enjoy tax-free worldwide income, capital gains, gifts, wealth, and inheritance. 

Investment Opportunities

With a bank account in St. Kitts and Nevis, you may gain access to investment opportunities within the country and the wider Caribbean region.

Residency and Citizenship Programs

St. Kitts and Nevis offer citizenship-by-investment programs, where qualifying investors can obtain citizenship by making a significant financial contribution to the country. Holding a local bank account might be necessary for some aspects before or after getting a passport.

How to Open a Bank Account in St. Kitts and Nevis

Opening a bank account in St. Kitts and Nevis is a straightforward and hassle-free process, as outlined below. 

Step 1: Choose a Bank

Research the various banks operating in St. Kitts and Nevis to find one that suits your needs and requirements. Consider factors such as the range of services offered, fees, online banking options, and any specific features that may be relevant to you. 

Step 2: Gather the Required Documents

Prepare the necessary documents to comply with the bank's account opening requirements. Typically, for a personal bank account, you will need the following: 

  • Valid passport or another government-issued photo ID
  • Proof of address (e.g., utility bill or bank statement)
  • Bank reference letter (if you have an existing relationship with another bank)
  • Source of funds documentation (to comply with anti-money laundering regulations)
  • Employment or income verification (for non-residents and certain account types) 

In the case of a corporate bank account, you will be required to submit the following documents: 

  • Certificate of Incorporation
  • Memorandum and Articles of Association
  • Valid Identification Documents 
  • Proof of Address
  • Bank References
  • Source of Funds
  • Board Resolution
  • Tax Identification Number (TIN)
  • Business License (if applicable) 

Step 3: Visit the Bank

If possible, visit the bank in person with all the required documents. Meeting face-to-face with the bank representative can help expedite the account opening process and clarify any questions you may have. It is also possible to set up a bank account remotely. 

Step 4: Application Form

Complete the bank's account application form, providing accurate and up-to-date information. Be sure to double-check the form before submission to avoid delays. 

Step 5: Initial Deposit

Some banks may require an initial deposit to open the account. Check with the bank about their minimum deposit requirements. 

Step 6: Identification and Verification

The bank will verify your identity and the provided documents as part of their Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.

Step 7: Account Approval

Once your application is approved, the bank will provide you with the account details, including the account number. 

Step 8: Online Banking

If the bank offers online banking services, you will likely receive login credentials to access your account online. 

Step 9: Banking Services

You can start using your account for various banking services, such as deposits, withdrawals, fund transfers, and more. 

Once your account is open, you can start enjoying the many benefits of banking in St. Kitts and Nevis. You'll have the convenience of managing your financial affairs from anywhere in the world, the security of a banking system, and the peace of mind that your funds are in a safe and secure environment.

Top Banks in St. Kitts and Nevis

St. Kitts and Nevis has several local and international banks operating within its borders. The top banks in St. Kitts and Nevis include:

  • Bank of Nevis International Limited (BONI): Bank of Nevis International is a subsidiary of the Bank of Nevis Limited. It provides offshore banking and financial services to international clients. This bank was founded in 1985 and is a member of the Caribbean Association of Banks. It provides banking services for both individuals and businesses, including wire transfers and online banking. In 2019, it signed an agreement to take over the banking operations of the Royal Bank of Canada and the RBTT Bank of Trinidad and Tobago in the country.
  • SKNA stands for the St. Kitts-Nevis-Anguilla National Bank. It is the oldest national bank in St. Kitts and Nevis, having been founded in 1971. It is the country's largest bank and offers both personal and business banking services. It is well known as a national bank that offers business development loans.
  • Hamilton Reserve Bank was named after Alexander Hamilton, who was born in Nevis and became one of the founding fathers of the United States. It provides personal, commercial, and private banking services. It also provides escrow accounts, foreign currency accounts, and fast international money transfers, making it popular among international investors and other foreign clients.
  • First Caribbean International Bank (FCIB): First Caribbean is a major Caribbean bank with branches in St. Kitts and Nevis. In 2002, the CIBC Group's regional subsidiary merged with Barclay's Caribbean counterpart to form the bank. It has locations throughout the Caribbean, including St. Kitts. It provides personal and business banking services, in addition to corporate and investment banking.
  • Caribbean Union Bank (CUB) is a local bank that offers a variety of personal and business banking services to residents and non-residents alike.

Bank Fees

Below is a sample of the fees charged by the most popular bank among Golden Harbors’ customers.

Bank Name Service Fees Account Activation Commissions
Hamilton Reserve Bank None $100,000 for legal entities
$50,000 for individuals
EC$0 for most transactions
SKNA No monthly fees for accounts held by individuals From EC$25 to EC$1,000, depending on the type of bank account It is recommended to check with the bank
BONI From EC$11,70 to EC$58,50, depending on the type of bank account It is recommended to check with the bank From EC$1,76 to EC$11,70, depending on the type of transaction

The Role of Banks in St. Kitts and Nevis CBI Process

Banks play a crucial role in the St. Kitts and Nevis CBI process. They ensure that the funds for your investment are securely transferred to the appropriate parties. In addition, banks also play a role in the due diligence process, verifying the origin of your funds to ensure they are legally obtained.

Furthermore, having a bank account in St. Kitts and Nevis can make the CBI process smoother. It provides a straightforward pathway for transferring your investment funds and paying any necessary fees. Plus, once you become a citizen, your St. Kitts and Nevis bank account will be an invaluable tool for managing your finances and making the most of your new citizenship.

The Process of Obtaining a St. Kitts and Nevis Passport through CBI

Investors can get citizenship of St. Kitts and Nevis in 60 days from application approval date.

Obtaining a St. Kitts and Nevis' passport through the CBI program involves a straightforward, transparent, and remote process. The first step is to select your preferred investment option.

We suggest using one of the two reliable investment tracks:

  • Contribution to the Government Fund: a minimum non-refundable deposit of $250,000 for the individual applicants plus state and service fees.
  • Investment in real estate, which could also include fractional hotel shares, starts at $400,000 plus state and service fees. You can sell your property in 7 years and retain the passport. 

Next, you'll need to engage the services of Golden Harbors, which will guide you through the application process.

Following this, you will need to complete the necessary application forms and provide all required documentation. These documents will undergo a thorough due diligence process to ensure the integrity of the program. Once your application is approved, you'll be asked to make the relevant investment and pay government fees.

Once the process is complete, you'll receive a certificate of registration as a citizen of St. Kitts and Nevis. With this certificate, you can then apply for your St. Kitts and Nevis passport, which will grant you the freedom to travel globally, explore new business opportunities, and enjoy the many benefits of being a citizen of this Caribbean paradise.

Why St. Kitts and Nevis CBI is a Worthwhile Investment

The St. Kitts and Nevis CBI is more than just a citizenship program. It's an investment in your future, offering the freedom to travel, live, and do business in a beautiful, prosperous, and secure Caribbean nation. By participating in this program, you're not only gaining a second passport; you're also opening the door to a world of opportunities.

Moreover, the robust and secure banking system in St. Kitts and Nevis adds to the appeal of the CBI program. Whether you're looking to safeguard your wealth, grow your investments, or simply enjoy the benefits of a tax-friendly environment, the banks in St. Kitts and Nevis have got you covered.

Banking in St. Kitts and Nevis FAQs

1. Can foreigners open a bank account in Saint Kitts and Nevis? 

Yes, foreigners are permitted to open bank accounts, depending on the particular bank. 

2. Are banks safe in Nevis? 

Nevis has become one of the Caribbean's most secure offshore financial centers as a result of its high degree of stability. Consequently, a Nevis bank account is relatively more reliable. 

3. Are crypto currencies accepted by banks in St. Kitts and Nevis? 

While cryptocurrencies are accepted as a source of funds, they cannot be used to make purchases or open bank accounts at the moment of writing. 

4. Is internet banking available in St. Kitts and Nevis? 

Yes, internet banking is available in St. Kitts and Nevis. Many banks offer online banking platforms that allow customers to access their accounts, make transactions, and manage their finances remotely. 

5. Are there any offshore banking opportunities in St. Kitts and Nevis? 

Yes, St. Kitts and Nevis offer offshore banking opportunities through banks like Bank of Nevis International Limited (BONI) and other financial institutions. These services are available to international clients seeking privacy and asset protection.

6. Are there any restrictions on foreign currency transactions in St. Kitts and Nevis? 

St. Kitts and Nevis do not have any major restrictions on foreign currency transactions. However, it's advisable to check with the specific bank for any currency-related policies and requirements.

7. Can a Saint Kitts and Nevis passport facilitate the process of opening a bank account? 

Having a St. Kitts and Nevis passport obtained through the CBI program can potentially facilitate the process of opening a bank account, but it does not guarantee automatic approval. Having a second passport from a reputable jurisdiction like St. Kitts and Nevis may be viewed positively by some banks, but other factors will also be considered during the account opening process. 

8. Can I maintain dual citizenship with St. Kitts and Nevis through the CBI program? 

Yes, St. Kitts and Nevis allows dual citizenship. You do not need to renounce your current citizenship to become a citizen of St. Kitts and Nevis through the CBI program. 

9. Are there any language test requirements for the St. Kitts and Nevis CBI program? 

No, there are no specific language requirements for the St. Kitts and Nevis CBI program.

Saint Kitts and Nevis

Residence Permit Advantages

Swipe icon


Visa free travel to 157 countries

Including the E.U. and Schengen area, the U.K., Hong Kong, Malaysia, Singapore, and others. U.S. B1/B2 tourist visa (valid up to 10 years)


Global mobility and freedom

Up to 6 months, expedited processing option up to 60 days


Fully remote application process

We take care of the paperwork and help you prepare and submit your application - you receive your passport via DHL Express. No residency requirements to maintain citizenship status


Global mobility and freedom

No tax on inheritance, capital gains, foreign income, dividends, interest, or royalties


Business opportunities

Establish a company in Saint Kitts to diversify business risks and optimize your tax obligations


Global mobility and freedom

investors can purchase a ‘qualifying’ share of ownership in 5-star luxury hotels/resorts with a potential annual return of 2-4% from hotel operations. Capital investment can be recovered in 7 years


Dual citizenship is permitted

No need to renounce your previous citizenship when obtaining a St. Kitts and Nevis passport


Global mobility and freedom

Saint Kitts and Nevis


Processing Time and Terms

Enter your estimated application start date for St. Kitts and Nevis citizenship and receive a clear timetable for the entire procedure

Step back

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.


Sign a service agreement, fill out application forms, and pay the initial service and due diligence fees.


We compile a document package and submit it for due diligence performed by St. Kitts CBI unit


Due diligence and background check conducted by the state


We submit your citizenship application once we receive the approval, and you make payment of the outstanding investment amount, government fees, stamp duty, and other fees.


We supervise the issuance of your passport by St. Kitts and Nevis and send your Certificate of Citizenship and passport by DHL Express.

There are Always Options to EXPAND YOUR BOUNDARIES! Let's Discuss Yours

Every client is unique

Every case requires an individual approach and solution. Our years of experience in the industry allow us to provide both.

We will answer all your questions and provide detailed information about the available second passport and residency programs to help you make the right choice.


Lead Attorney at Golden Harbors


Lead Attorney at Golden Harbors