St. Kitts Nevis Coat-of-Arms

International Banking

St. Kitts Nevis Coat of Arms

Schedule of Fees

The matter in respect of which the prescribed fee is payable USD
Initial License fee 50,000.00
Application fee   6,000.00
Administrative fee   1,500.00
Annual license fee 50,000.00

 

 

Offences in respect of which liability to conviction may be discharged by payment of fixed penalty

Section of Ordinance  Section of Ordinance  Fixed Penalty
    6 (2)  Carrying on International Banking within Nevis without a license  Not exceeding $500,000.00 and a further penalty of $50,000.00 for each day in default
  15 (11)  Breach of condition of license  $25,000.00 and a further penalty of $1,000.00 for each day in default
  16 (2)  Failure to display copy of current license  $25,000.00 and a further penalty of $1,000.00 for each month in default
  17  Unauthorised use of the word “bank” in name  $25,000.00 and a further penalty of $1,000.00 for each day in default
  21  Appointment of a person debarred from management  $25,000.00 and a further penalty of $1,000.00 for each day in default
25, 26, 27, 28  Failure of director to disclose and declare interest  $10,000 for each contravention 
  29  Disclosure of confidential information  $20,000.00 
  31  Failure to forward to the Regulator and shareholders, copies of Annual Audited Financial Statements by the prescribed date or forwarding returns after the prescribed date  $25,000.00 and a further penalty of $1,000.00 for each month in default
  76  Failure to report to the Regulator any abandoned property in its possession or failure to deposit or convey to the Administration and abandoned property  $25,000.00 and a further penalty of $1,000.00 for each day in default
77(1) and (2)  Conducting international banking from within Nevis during any period in which a licensee/director/officer does not hold a license  Not exceeding $250,00.00 (Licensee)

Up to $50,000.00 (director/officer)
  78  Engaging in advertising practices contrary to Ordinance  $10,000.00 and a further penalty of $1,000.00 for each day in default
  79  Making false statements and obstruction  $50,000.00 

Section of Regulation 

Offence 

Fixed Penalty 

     10(4)   Failure to submit returns as required by the Regulator                    $5,000.00  
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Contact Information

The Nevis Financial Services (Regulation and Supervision) Department will be hosting its Annual AML/CFT Awareness Seminar and Training Workshop on Monday, March 06 and Tuesday, March 07, 2017 at the prestigious Four Seasons Resort under the theme, "Increasing Awareness through Smarter Compliance - Forging New Connections to Combat Financial Crime."
 

For further information, please contact the Financial Services Department at 469-1469 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Financial Services Regulatory Commission, Nevis Branch

P.O. Box 689, Main Street
Charlestown, Nevis
West Indies

Tel: (869) 469 - 1469
Fax: (869) 469 - 7739
Email:This email address is being protected from spambots. You need JavaScript enabled to view it. (Companies Registry and General Enquiries)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (Compliance Division)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (International Insurance Division)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it. (International Banking Division)

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