St Kitts And Nevis To Improve Business Environment

by Amanda Banks, Tax-News.com, London

01 May 2007

St. Kitts and Nevis is moving swiftly to improve its 'doing business' rating in the world market, according to the twin island federation's government.

“Being mindful of the need to improve the rating of St. Kitts and Nevis in the World Bank ‘Doing Business assessment,’ Cabinet reviewed a recommended package of reforms that must be adopted to bring the necessary results,” Minister of State for Information, Sen. Nigel Carty has disclosed.

Last February, the Cabinet mandated that the Ministry of Industry and Commerce undertake the necessary studies to advise on important reforms and has now agreed that those reforms need to be implemented.

A new policy calls for streamlining of the business registration requirements; cutting the time of property registration; speeding up contract enforcement, particularly through reviewing the limit of claims that can be heard by the magistrate court; helping to expand access to credit and simplifying tax administration.

“These recommendations call for a number of administrative and legislative adjustments which were specifically discussed and as a result, Cabinet mandated the formation of a committee consisting of several departments of government and private sector organisations to take the specific recommendations forward,” Sen. Carty said.

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