Like most Caribbean microstates, St. Kitts and Nevis has an investment incentives program. Joint ventures and labor-incentive industries are especially welcome. Official development assistance and resource flows from commercial sources totaled US $25 million in 1997.
Foreign investment incentives include the following: a tax holiday of up to 15 years; tax rebates of up to 5 years; and exemption from customs duties on machinery deemed necessary to establish and update an enterprise.
Annual foreign direct investment (FDI) rose steadily from $19.7 million in 1997 to a peak of $96.2 million in 2000. In 2001, FDI inflow was $82.9 million.
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