New Returning National/Diaspora Investment Policy Launched by NIA
NIA CHARLESTOWN NEVIS (January 22, 2025)
The Nevis Island Administration (NIA) is proud to introduce the Returning National/Diaspora Investment Policy, a comprehensive package of fiscal concessions designed to encourage and attract returning nationals and investors.
The policy includes exemptions on:
- Customs Duties for personal items, vehicles, construction materials, furniture, and tools for business startups
- Specialized medical care, information technology, hotel development, alternative energy, and light manufacturing, among other priority sectors
- For individuals of Nevisian descent with ancestral ties through a parent, grandparent, or great-grandparent, the Alien Landholders License (ALHL) fee of 10% on real estate purchases will be waived
- Business starters or acquirers on Nevis will benefit from additional incentives, including corporate tax exemptions, reduced work permit fees for foreign workers, and waived or discounted business license fees, with a minimum investment of US$100,000 required
A dedicated unit has been established under the Ministry of Finance to ensure a seamless and streamlined process for re-integration and investment into Nevis.
For more information, contact the Ministry of Finance on Main Street, Charlestown, via email at [email protected] or by calling 1(869)469-0078/469-5521.
FAQ
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Who can benefit from the Returning National/Diaspora Investment Policy?
Returning nationals and investors, as well as individuals of Nevisian descent with ancestral ties, are eligible.
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What concessions are offered?
Customs duty exemptions for personal items, vehicles, and construction materials; business startups in priority sectors, and reduced or waived fees for Alien Landholders License, business license, and work permits.
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Can duty-free concessions be combined with VAT reduction days?
No, duty-free concessions cannot be combined with VAT reduction days.
Conclusion
The Returning National/Diaspora Investment Policy aims to attract investors and rekindle ties with the Nevisian Diaspora. By fostering economic growth, attracting investment, and strengthening bonds, we create a vibrant and prosperous Nevis.
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