Saint Kitts and Nevis is a small island nation in the Caribbean. This jurisdiction is not so popular among entrepreneurs from Russia, but it is worth considering in more detail.
The state is a member of the British Commonwealth and is characterized by a stable political and economic situation. Also in the state there are no currency controls. The downside is the lack of a developed banking sector, so enterprises registered in the territory of this state have to open accounts elsewhere.
Saint Kitts fulfills the requirements of the FATF, and therefore the jurisdiction is not in the black or gray lists of this organization. This means that registered enterprises will not attract the increased attention of bodies that counteract the laundering of proceeds from crime.
Currently, Saint Kitts and Russia do not have a double tax treaty. The state is listed in the list of states that do not exchange tax information with Russia (see the order of the Federal Tax Service of Russia dated September 30, 2016 NMMV-7-17/527@). However, in the information and reference systems there is an updated draft order of the Federal Tax Service, which will enter into force on January 1, 2019. The state of Saint Kitts is no longer listed in the draft order. Does this mean that Saint Kitts and Nevis will exchange tax information with the Federal Tax Service and whether it will be in automatic mode is not yet clear. Information on this is not available on the official website of the Department of Internal Revenue. However, it should be taken into account that if, nevertheless, such an exchange takes place in 2019, then the information for 2018 can be transferred to the Federal Tax Service of Russia.
Jurisdiction Summary
Saint Kitts and Nevis is a small island nation in the Caribbean. This jurisdiction is not so popular among entrepreneurs from Russia, but it is worth considering in more detail. The state is a member of the British Commonwealth and is characterized by a stable political and economic situation. Also in the state there are no currency controls. The downside is the lack of a developed banking sector, so enterprises registered in the territory of this state have to open accounts elsewhere.
Saint Kitts fulfills the requirements of the FATF, and therefore the jurisdiction is not in the black or gray lists of this organization. This means that registered enterprises will not attract the increased attention of bodies that counteract the laundering of proceeds from crime.
Currently, Saint Kitts and Russia do not have a double tax treaty. The state is listed in the list of states that do not exchange tax information with Russia (see the order of the Federal Tax Service of Russia dated September 30, 2016 NMMV-7-17/527@). However, in the information and reference systems there is an updated draft order of the Federal Tax Service, which will enter into force on January 1, 2019. The state of Saint Kitts is no longer listed in the draft order. Does this mean that Saint Kitts and Nevis will exchange tax information with the Federal Tax Service and whether it will be in automatic mode is not yet clear. Information on this is not available on the official website of the Department of Internal Revenue. However, it should be taken into account that if, nevertheless, such an exchange takes place in 2019, then the information for 2018 can be transferred to the Federal Tax Service of Russia.