Personal accounts: Saint Kitts and Nevis

Updated 6 October 2026

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

A personal account in St Kitts and Nevis is opened at local banks. Banks in the Federation of St Kitts and Nevis 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. It is needed by people living in the federation, owning property here, or holding citizenship by investment and spending part of the year on the islands. Without a link to the islands, banks are reluctant.

Citizenship by investment and your account

The federation's citizenship programme is among the best known in the world. Options: a non-refundable sustainable island state contribution from $250,000 for an applicant with three dependants, approved developer real estate from $325,000, or a private home from $600,000. In 2026 the programme is being restructured towards real presence on the islands. Banks check programme passport holders more closely: they compare application details, all nationalities and the origin of money.

Who needs an account in practice

• Property owners, whether bought under the programme or separately, for developer payments, utilities, the management company and rentals.
• Island residents, for salary, rent and everyday expenses.
• New citizens spending part of the year on the islands, for local expenses.
• Owners of Nevis companies and trusts, for personal funds separate from the structure; see our personal account on Nevis page.

What you need

• passports of all nationalities;
• proof of address on the islands and in your country of residence;
• a reference letter from your current bank;
• source-of-funds evidence;
• tax number of your country of residence and a tax information exchange form.

Taxes

• There is no personal income tax in the federation.
• VAT is 17%, included in local purchases.
• The federation's passport does not change tax residency: account details go where you actually live.

Currency

Accounts are opened in Eastern Caribbean and US dollars; thanks to the peg, savings are conveniently kept in US dollars.

Life on the islands

Banks are concentrated in the federation's capital Basseterre on St Kitts and in Charlestown on Nevis. Everyday expenses are paid in Eastern Caribbean dollars, cards are accepted mainly in tourist areas, and a local account is much handier than a foreign card for utilities and rent.

How opening works

1. Profile assessment: link to the islands, nationalities, source of funds.
2. Choosing a bank on St Kitts or Nevis.
3. Documents and references.
4. A meeting at the bank and answers to follow-up questions.
5. Account, card and online banking.

Why banks refuse

• No link to the islands; the account is wanted only as an offshore account.
• A hidden first nationality or unproven source of funds.
• 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 in the federation, choose a bank, prepare documents 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

Business account · Investment property · All country programs

FAQ