Personal accounts: Nevis

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Nevis is an island in the Federation of St Kitts and Nevis. Banks here are supervised by the Eastern Caribbean Central Bank, and the Eastern Caribbean dollar has been pegged to the US dollar at 2.70 since 1976. A personal account on Nevis is needed mainly by those who live on the island, own property here or obtained the federation's citizenship by investment. Without a link to the island banks are reluctant: the local banking sector is small and built for residents.

Who needs an account on Nevis in practice

• Property owners, including those who bought under the citizenship programme, for house expenses, management and rentals.
• Island residents, for salary, rent and utilities.
• Owners of Nevis companies and trusts, if their management is tied to the island, for personal funds separate from the structure.
• New citizens of the federation who spend part of the year on the island.
• Yacht owners and those who spend the season on the island, for mooring, maintenance and local expenses.

What you need

• passports of all nationalities, not just the St Kitts and Nevis passport;
• proof of address on the island and in your country of residence;
• a reference letter from your current bank;
• detailed source-of-funds evidence, especially if citizenship was obtained by investment;
• tax number of your country of residence and a form for automatic exchange of tax information.

Taxes and the passport

• There is no personal income tax in the Federation of St Kitts and Nevis.
• VAT is 17%, lower for hotel services, and is included in local purchases.
• The federation's passport does not change tax residency: the bank will ask where you actually live and pay taxes and send account details there.
• A hidden first nationality is grounds for refusal or closure if it comes to light later.

A personal account and a Nevis company

If you have a Nevis limited liability company or trust, the personal account and the structure's account are kept separate: mixing money is a common reason for bank questions and closures. The company account is often opened in another jurisdiction; see our business account on Nevis page.

Holders of an investment passport

Island banks know the federation's citizenship programme well and check such clients more closely: they compare details from the citizenship application with current documents, look at all nationalities and where the investment money came from. A prepared source-of-funds explanation speeds up the decision.

Account currency

Accounts are opened in Eastern Caribbean and US dollars. Thanks to the fixed peg, holding US dollars is convenient, while local expenses are paid in Eastern Caribbean dollars.

How opening works

1. Profile assessment: link to the island, all nationalities, source of funds.
2. Choosing a bank on Nevis or St Kitts.
3. Documents and references.
4. A meeting at the bank and review.
5. An account in Eastern Caribbean and US dollars.

Why banks refuse

• No link to the island; the account is wanted only as an offshore account.
• First nationality or source of funds not disclosed.
• No reference from a current bank.
• Sanctions risk by nationality or counterparties.
• The personal account is meant for company turnover.

What we do

Murblz specialists assess whether you need an account on Nevis or would do better elsewhere, choose a bank, prepare documents, references and the source-of-funds explanation, and support the opening until the decision. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property

FAQ