LIVING IN ST KITTS & NEVIS
COST OF LIVING
The cost of living in St. Kitts or Nevis does vary; however for the most part it is considered moderate. While it is probably more expensive than in the United States due to minimum real estate value laws, for those looking to relax and get away from it all, there are plenty of items and costs on the island that are generally affordable. You dont have to be a millionaire to live on these islands; however a good stable income is needed since there are very few employment opportunities on the island for foreigners.
Expect the largest part of your expenses to be housing, with food and entertainment being high as well. For those expats that are looking for the tropical island lifestyle, St. Kitts Nevis make an excellent home away from home.
St. Kitts Nevis are considered to be an attractive tax haven for many individuals and corporations. On the islands is no net worth tax, sales tax, and estate taxes. While there is a corporate income tax, it only applies to domestic companies that do business with residents on the islands. Corporate income tax has a rate of 35%.
Besides the above taxes, there are other taxes including property taxes, withholding taxes and import levies.
Medical care on St. Kitts Nevis is limited, but adequate. There are three hospitals on St. Kitts and one hospital on Nevis. There are also clinics on both islands. For those with serious illnesses or injuries, you will most likely need to be evacuated to the United States or another island for treatment. While you can purchase health insurance on the island, most expats that live on the island for a season or short term prefer to purchase travel insurance that includes a medical insurance component. Make sure that your travel insurance also includes a medical evacuation provision.