Financial Services Regulatory Commission - St. Kitts Branch
P.O. Box 898, South Independence Square Street, Basseterre, St. Kitts W.I.

St. Kitts Nevis Coat-of-Arms
St. Kitts Nevis Coat-of-Arms

No authorization will be granted under the Order unless the person applying for the authorization has the following minimum financial resources -

  • in the case of deposit-taking business, net assets in the minimum sum of -
  • USD 500,000 or its equivalent in other currencies for an authorization to undertake unrestricted business and restricted business;
  • USD 50,000 or its equivalent in other currencies for an authorization to undertake restricted business but not unrestricted business;
  • in the case of investment business, net assets in the minimum sum of -
  • USD 400,000 or its equivalent in other currencies for an authorization to undertake unrestricted business and restricted business;
  • USD 40,000 or its equivalent in other currencies for an authorization to undertake restricted business but not unrestricted business;
  • in the case of insurance business, net assets in the minimum sum of -
  • USD 300,000 or its equivalent in other currencies for an authorization to undertake long-term insurance business and general insurance business;
  • USD 200,000 or its equivalent in other currencies for an authorization to undertake long-term insurance business but not general insurance business;
  • USD 100,000 or its equivalent in other currencies for an authorization to undertake general insurance business but not long-term insurance business;
  • in the case of trust business, net assets in the minimum sum of -
  • USD 200,000 or its equivalent in other currencies for an authorization to undertake unrestricted business and restricted business;
  • USD 20,000 or its equivalent in other currencies for an authorization to undertake restricted business but not unrestricted business;
  • in the case of any other finance business -
  • net assets in the minimum sum of USD 100,000 or its equivalent in other currencies; or
  • a professional indemnity insurance in respect of the activities of the applicant and extended to include the activities on behalf of the applicant or of his agents, if any, placed with an insurer approved by the Minister of Finance, and for an indemnity in the minimum sum of USD 100,000 or its equivalent in other currencies for any one loss; or
  • a guarantee in the minimum sum of USD 100,000 or its equivalent in other currencies given under seal by a holding company of the applicant approved by the Minister of Finance, provided always, that any guarantee which may be given under this sub-paragraph shall only be effective if it expressly provides that its formal validity, its essential validity, its interpretation and effect and the rights and obligation of the parties to it are governed exclusively by the law of the Federation and that the Court only shall be the forum for these purposes.
  • "restricted business" is defined in the Order as being deposit-taking business, investment business or trust business undertaken exclusively for persons listed in any undertaking accompanying the application for the relevant authorization and "unrestricted business" is to be construed accordingly.
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Regulated Entities

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Service Providers

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Insurance

Contact Information

The Regulator / Director
Financial Services Regulatory Commission (St. Kitts Branch)
P.O. Box 898, South Independence Square Street, Basseterre, St. Kitts

Tel: 1-869-466-5048
Fax: 1-869-466-5317
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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