At Mundo we firmly believe that cryptocurrencies and blockchain are the future of business and finance, although it is not yet clear in what way. But we do know that, just as the Internet did in the 1990s, those who understand how to surf the wave will thrive in the new knowledge era.
It is no longer a secret that it is advisable for any entrepreneur or family office to consider a blockchain business as part of their investment portfolio.
Investors who have mastered the wave of digital assets and cryptocurrencies are perhaps the best representation of those who are serious about protecting their financial and individual freedoms from the clutches of the state. Those who invest in crypto have already proven to the world that this asset class is the future, and now these are the investors who are looking for safe jurisdictions in which to put the fruits of their labor.
And as crypto becomes more widespread on online platforms, in stores and in boardrooms, virtual currency will become essential. In addition, blockchain technology, which is the "pipeline" for cryptocurrencies, is also increasingly used by banks, governments and businesses around the world to store information and facilitate processes.
We are not surprised that many crypto investors are looking towards The Caribbean when it comes to finding jurisdictions with progressive legislation that recognizes blockchain-based businesses and does not hinder the development of economic activities based on this technology. And among all the places that The Caribbean offers to high-net-worth individuals, St. Kitts and Nevis is positioned as the best option.
This beautiful jurisdiction is much more than paradisiacal beaches and a perfect tropical climate. This small island nation has been one of the international financial centers par excellence for decades and has today the most ideal conditions to host crypto investors from all over the world.
In this section of our St. Kitts and Nevis Country Page we will show you why this jurisdiction is the best ace up the sleeve a crypto investor can have in a world as unpredictable as the one we are living in today.
We'll go over everything you need to know about getting a license to operate a cryptocurrency business from St. Kitts and Nevis.
Why Should You Consider St. Kitts and Nevis for Your Next Cryptocurrency Business?
The island of Nevis has chosen to surf the wave. For this reason, it enacted cryptocurrency-friendly legislation for a business to conduct a variety of operations that we will discuss in this section.
The Federation of St. Kitts and Nevis is one of the few countries that offers a cryptocurrency friendly environment along with the features we already know: economic stability, stable currency, secure political environment, pro-business policies and excellent asset protection.
While we get to the specific advantages of this jurisdiction's digital asset legislation, it is worthwhile for us to recall some of the advantages that crypto investors can enjoy in this wonderful pair of islands:
-In St. Kitts and Nevis there is no capital gains tax, no income tax. All potential taxes associated with cryptocurrencies do not apply if you operate through a structure such as an LLC or a Nevis multipurpose trust.
-Current legislation allows you to initiate initial coin offerings, or ICOs for short. In other words, tokenization of your operation or opening crypto exchanges is possible.
-While St. Kitts and Nevis has some of the most advanced cryptocurrency legislation in the world, this country still leads the way when it comes to asset protection.
-The telecommunications infrastructure of this jurisdiction is perfectly adapted to provide you with everything you need to keep your cryptocurrency-related business operation uninterrupted.
-The crypto license (called sandbox license) will allow you to establish legitimate businesses that operate with your or other investors' digital assets.
St. Kitts and Nevis is nowadays the perfect tropical paradise for crypto millionaires around the world, and we at Mundo want to take advantage of this trend to help our esteemed readers increase their financial freedom with an unmatched offer that will allow you to start your blockchain business in this jurisdiction.
Our package in St. Kitts and Nevis includes:
-A tax-free offshore corporate structure
-A bank account and crypto wallet for you to manage your assets.
-The application process for the cryptocurrency and digital asset financial license.
This is the holy trinity of crypto businesses in St. Kitts and Nevis, and by being part of our select group of readers, today you can get it for a discounted price.
Cryptocurrency Financial License in St. Kitts and Nevis
Crypto investors already had a notable interest in St. Kitts and Nevis due to its prominent citizenship by investment program and unparalleled asset protection advantages. However, in 2020 this Caribbean jurisdiction became the crypto destination par excellence when the local government sanctioned the Virtual Assets Act 2020.
This law, which was recently amended in 2021, fulfilled the desire of crypto investors around the world: for a country to legalize without hindrance or pitfalls businesses related to trading virtual assets such as cryptocurrencies in a simple manner that individuals could access without fighting an army of bureaucrats.
The law currently allows citizens and residents of St. Kitts and Nevis to:
-Exchange between virtual assets and fiat currency,
-Exchange between different virtual assets,
-Transfer virtual assets,
-Safeguarding or managing virtual assets or instruments that provide control over digital assets,
-Providing financial services related to the issuance, sale and exchange of digital assets.
This law is the highest expression of a culture of economic and individual freedom that St. Kitts and Nevis has cultivated for years, and which today allows individuals around the world to take advantage of blockchain technology to conduct cryptocurrency business as they cannot do for now in other jurisdictions around the world.
Combined with St. Kitts and Nevis' tax advantages and banking system, this digital asset law adds another jewel to this jurisdiction's crown. We are talking about the most notable crypto-investor hub in the entire Caribbean.
What Structures Enable You to Obtain the Digital Assets Financial License in St. Kitts and Nevis?
In the Digital Assets Act 2020, as amended in 2021 there is a reference to the application of that law which states that it applies to "any person" who operates with activities related to virtual assets in St. Kitts and Nevis. The key here is to know what the expression "any person" refers to.
In the same law there is a section on interpretations that expands on this issue. There it is stated that "person" refers to natural persons or legal persons. And that a "legal person" is an incorporated entity.
What this legal basis means is that legal structures such as the Nevis LLC or the Multipurpose Foundation can serve as vehicles to obtain this type of financial license and enjoy the tax benefits of St. Kitts and Nevis.
How to Obtain a St. Kitts and Nevis Digital Assets Financial License?
Any person intending to apply for registration must provide the following information:
(a) The name and address of the applicant's registered office.
(b) The address of the person's place of business in St. Kitts and Nevis.
(c) A statement explaining the nature and scope of the business activity. This should include, but is not limited to:
(i) Date of commencement of operations.
(ii) Website address.
(iii) The countries in which the applicant trades or intends to trade cryptocurrencies.
d) Details of the address and any person authorized to represent the applicant in St. Kitts and Nevis.
(e) The name and address of any affiliated companies within and outside St. Kitts and Nevis.
(f) The names and addresses of directors, significant shareholders and beneficial owners.
(g) The anti-money laundering and combating the financing of terrorism manual.
(h) The name and qualifications of the compliance officer.
(i) Data protection, security and confidentiality policies and procedures.
(j) The protection of cybersecurity.
(k) A sample of the initial prospectus offered.
(l) A risk assessment of the services and products to be offered.
(m) Such other information as the Authority may reasonably require to determine the application.
In addition, the application shall be accompanied by the following:
(a) Proof of payment of the application fee.
(b) Certified copies of the by-laws.
(c) Proof of registration of the company in St. Kitts and Nevis.
The Financial Services Regulatory Commission may require additional information to approve the license. The Commission needs to ensure that all officers, executives, significant shareholders, beneficial owners, directors or managers are fit and proper to perform their functions. To ensure this, it will require:
(a) Financial solvency.
(b) Academic qualifications or experience in the virtual asset business.
(c) Capacity to offer virtual assets with knowledge, equity and ethics.
(d) Reputation, financial integrity and probity.
(e) Clarification as to whether the interests of a client of the applicant will be threatened by any director, officer or shareholder.
(f) Clarification as to whether any of the above are engaged in improper or deceptive business practices.
Now, you are probably wondering about the fees for obtaining a cryptocurrency license. Unfortunately, the FSCR has not disclosed what the application and registration fees will be.
Contact Mundo's team of experts regularly to stay up to date with updated information.
Who We Are and What We Can Do For You?
For nearly 30 years, Mundo and NTL have worked hand in hand with investors who don't hesitate to take advantage of the best opportunities to grow their wealth and find better ways to protect the fruits of their labor and their freedom.
Today we are a team with a global presence helping entrepreneurs, investors and high net worth individuals enjoy freedom in the world's best jurisdictions, but our work had its beginnings in St. Kitts and Nevis. This jurisdiction is one of the most important in our entire portfolio.
That's why when the St. Kitts and Nevis government sanctioned the digital assets law in 2020, we instantly knew we had to do everything to find the best opportunities for crypto investors in this beautiful jurisdiction.
Our expertise and specialized team today can help you obtain a financial license that prepares you for the future of the economy and allows you to be one of the first to own a legitimate business related to digital assets.
We believe there has always been a correlation between power and speed. First movers have always ended up in favorable positions.
What we offer you today is the possibility to be one of the first. The possibility to obtain a license that puts you at the forefront of cryptocurrency related services in St. Kitts and Nevis.
Feel free to contact our team to find out how to get our promotional package in this jurisdiction and start doing crypto business on a scale that not many can reach.
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