Saint Kitts and Nevis

Saint Kitts and Nevis review

St. Kitts and Nevis (referred to as the Federation of St. Christopher and Nevis Islands) consists of two islands of the same name. They are located on the border of the Caribbean Sea and the Atlantic Ocean. The entire state has an area of about 260 square kilometers and a population of just over 50,000.

The government pursues a rather "aggressive policy" and offers to obtain citizenship to all comers, of course with benefits for themselves. For example, one of the conditions for applying is to invest in the economy in any form (on average, 150,000 dollars). The country's economy is based on tourism and agriculture.

St. Kitts and Nevis was formerly a colony of the British Empire, but in 1983, it gained independence and became a member of the Commonwealth of Nations. The country has its parliament and its independent legislation.

Land-based and digital gambling is legalized outside the state. Subject to mandatory licensing in that jurisdiction. Internet casinos licensed in St. Kitts and Nevis cannot offer their games to local residents.

Gambling regulation in St. Kitts is quite similar in structure to that of other countries within the Caribbean. Licenses for online casinos are issued by the Saint Christopher and Nevis Gaming Board (Saint Christopher and Nevis Gaming Board), established in 1999 after the passage of the Betting and Gaming Control Act, which allowed gambling. The board is controlled by the Ministry of Industry.

Although companies licensed in the jurisdiction cannot accept local gamblers, the law does not prohibit locals from gambling. You can use land-based or visit online casinos with licenses from another jurisdiction. The sites of such operators are not blocked, and the player is not subject to fines.

Gambling history in this country

The development of the gambling industry in the islands began in 1999 with the passage of the Betting and Gaming (Control) Act (Sports Betting and Casino Act). First, land-based casinos began to appear in the country. The level of these establishments is quite high. For example, in 2013, the Royal Beach Casino Hotel was chosen as a venue for the Alpha 8 poker series tournament.

Many gambling companies were also licensed in this jurisdiction to conduct online gambling business. However, only a few have subsequently retained this license. In 2019, St. Kitts increased the attractiveness of online gambling licenses by licensing cryptocurrency internet casinos. Currently, quite a few jurisdictions are working in this direction.

Terrestrial gambling is developing more rapidly than the digital sphere. In 2020, four hotels will be built to accommodate various gambling activities. This is quite an impressive figure for such a small state in terms of area and population. 

Licensing authority

The Ministry of Industry handles business licensing on the islands, and the Gaming Commission is in charge of control. However, the Ministry of Finance and the Ministry of Anti-Money Laundering are also involved in the process.

The Sasinoz team was surprised by the convoluted system, even in Costa Rica the process is more streamlined.

The Federation of St. Christopher and Nevis issues only one type of license. It does not distinguish between land-based or online casinos. Nor does it differentiate what types of gambling services companies provide.

Online casino operators must register in St. Kitts and Nevis and pay an $80,000 license fee to obtain an online casino license. The annual fee is another US$40,000.

Requirements for licensees

To obtain a gaming license, a company must submit a proposal and an application form to the Ministry of Industry, Commerce and Home Affairs ("the Ministry").

• If the applicant is an individual, the application must be accompanied by a police report, a copy of the passport, and an affidavit stating that the applicant is not the bank's owner.
• If the applicant is a corporation, the corporation must be incorporated and registered under the Corporations Act, 1996. The application must include a police report for officers and shareholders and a certified declaration stating no officer or shareholder owns the bank.
• All applications must include bank statements and processing fees for any individual, shareholder, or officer. Upon submission of applications, business proposals, and fees, the Ministry reserves the right to request additional information. Upon approval by the Ministry and license issuance, a concession fee must be paid. A gaming tax must also be paid annually. Each licensee must keep a daily register of funds collected and the type of games from which revenue was generated.
• The law stipulates that a physical gaming license will only be granted if the applicant owns or develops a hotel with at least 200 rooms. The applicant must have a game room inside the hotel that allows tourists to use its facilities. The corporate applicant must also prove that no shareholders or officers have been convicted of a crime in any country.
• Licensees with sports betting or online gaming licenses must open an account with a bank in San Cristobal authorized under the Banks Act 1991 to process gaming transactions. The Ministry must also approve the advertising/marketing content on the company's website. Under the Act, no licensee is authorized to extend credit. All online gaming players must have sufficient funds to cover all wagers. All players participating in physical games must have enough funds on hand or deposited with the licensee.

Access to the site must be blocked to all residents of the Federation. All licensees must ensure that any participant is at least 18 years old. Any change in the company's shareholders or directorate should be immediately reported to the ministry. All licensees must submit audited financial statements to the Ministry annually.

Conclusion

According to Casinoz, the jurisdiction of St. Kitts and Nevis is not attractive for online gambling companies. This jurisdiction is not recognizable, and the current legislation is quite transparent. Of course, if the casino does not want to be scrutinized, it can get a gambling license in St. Kitts and Nevis. But the cost is quite high compared to similar offerings.

Opening a land-based casino in this jurisdiction is also not interesting. The country's population is quite small, so we have to focus only on the tourist flow, which is also quite small. In addition, there are already existing establishments on the islands.