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 for corruption and establishes a special prosecutor's office. While the government generally implements these laws effectively, reports of corruption persist, and investigations are conducted by the Financial Intelligence Unit and the police's white-collar crime unit, though findings are not publicly available. There is no independent body to address government corruption allegations, but resources for reporting corruption are available through government and watchdog organizations.

The economy of Saint Kitts and Nevis, valued at an estimated GDP of $1.13 billion, is projected to grow by 4.7% in 2024, driven by strong performances in tourism and renewable energy projects. Despite its vulnerability to external shocks, the government actively promotes foreign direct investment in priority sectors such as agriculture, financial services, and tourism, while providing various incentives to attract both domestic and foreign investors.

Saint Kitts and Nevis actively promotes a favorable investment climate, particularly in priority sectors such as tourism, renewable energy, and agriculture. The government offers various incentives for foreign direct investment, including the ability for investors to repatriate profits and dividends without restrictions. Additionally, foreign investors can own up to 100% of their investments, although they must obtain an Alien Landholders License to purchase property.