FATF status

Saint Kitts & Nevis is not on the FATF List of Countries that have been identified as having strategic AML deficiencies.

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in St Kitts and Nevis was undertaken in 2022. According to that Evaluation, St Kitts and Nevis was deemed Compliant for 11 and Largely Compliant for 15 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratin

Saint Kitts and Nevis has taken steps to combat corruption by signing the Inter-American Convention Against Corruption and enacting an updated Anti-Corruption bill in 2023, which includes criminal penalties for corruption and establishes a special prosecutor's office. While the government generally implements these laws effectively, reports from media and citizens indicate that corruption remains an occasional issue. The enforcement of anti-corruption laws involves several government agencies, but there is no independent body to address allegations of government corruption.

The economy of Saint Kitts and Nevis is projected to grow by 4.7% in 2024, with an estimated GDP of $1.13 billion, driven primarily by strong performances in tourism and renewable energy projects. Despite its vulnerability to external shocks, the government actively seeks to attract foreign investment in various sectors, including agriculture, financial services, and tourism, while providing incentives for businesses to establish operations in the country.

Saint Kitts and Nevis actively promotes a favorable investment climate to attract foreign direct investment, particularly in sectors such as tourism, renewable energy, and agriculture. The government offers various incentives, including tax holidays and the ability for foreign investors to repatriate profits, while ensuring that there are no restrictions on foreign ownership, except for the requirement of an Alien Landholders License for property purchases. Investment promotion agencies on both islands provide support and guidance to investors throughout the investment process.