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 passing an updated Anti-Corruption bill in 2023, which includes criminal penalties and the establishment of a special prosecutor's office. While the government generally implements these laws effectively, reports of corruption persist, and investigations into financial crimes are conducted by the Financial Intelligence Unit and the police's white-collar crime unit, although findings are not publicly accessible. There is no independent body to address allegations of government corruption, but resources are available for citizens to report such issues.

The economy of Saint Kitts and Nevis is projected to grow by 4.7% in 2024, with a GDP estimated at $1.13 billion, driven primarily by strong performances in tourism and renewable energy projects. Despite its vulnerability to external shocks, the government is actively working to create a conducive business environment to attract foreign investment across various priority sectors, including agriculture, financial services, and tourism.

Saint Kitts and Nevis fosters a favorable investment climate, actively encouraging foreign direct investment (FDI) across various priority sectors such as tourism, renewable energy, and agriculture. The government offers incentives like tax holidays and allows foreign investors to repatriate profits without restrictions, while local laws permit up to 100% foreign ownership in investments. Additionally, dedicated investment promotion agencies provide support and guidance to streamline the investment process.