Offshore

Thousands Of Offshore Companies Registered On Nevis

Charlestown, Nevis
February 21, 2008

Premier and Minster of Finance the Hon. Joseph Parry told Diplomatic representatives that the Nevis Island Administration (NIA) had intentions to continue to ensure that Nevis maintained an Offshore Financial Services jurisdiction of the highest standard.
 
The Premier made the statement on Wednesday February 19, 2008, at the Ocean Terrace Inn (OTI) in St. Kitts, when he addressed Diplomatic and Consular representatives accredited to St. Kitts and Nevis while they attended activities to mark the second annual Diplomatic Week hosted by the Ministry of Foreign Affairs on St. Kitts. 
 
The Nevis Finance Minister had been invited to present the topic “Nevis’ Strides in the Financial Services Sector” in which he gave a comprehensive outline of some of the activities that contributed to the growth of the industry since it had been introduced on the island in 1984.

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St. Kitts – Nevis To Setup Financial Action Task Force

Basseterre, St. Kitts – Nevis
February 19, 2008 (CUOPM)

St. Kitts and Nevis, which undergoes its second mutual assessment by the Caribbean Financial Action Task Force (CFATF) in September, has reconvened meetings of the Local Financial Task Force.

The Federation’s Financial Secretary, Mrs. Janet Harris said the assessment will be carried out in September this year and the local committee has been mandated to analyze and review the Federation’s legal, regulatory and enforcement frameworks where Anti-Money Laundering “AML” and the Counter Financing of Terrorism “CFT” are concerned.

The Task Force was first established to address deficiencies within the Federation’s AML/CFT regime, which led to its black listing.  This body is comprised of key officials in the Federal Government and the Nevis Island Administration, whose departments play a major role in detecting and deterring money laundering and terrorist financing.

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Nevis Premier Discusses Economic Outlook

Charlestown, Nevis
February 13, 2008
Washington-based International Monetary Fund (IMF) Deputy Managing Director Mr. Murilo Portugal has expressed concerns about the debt management challenge faced by Nevis Island Administration (NIA).
 
This concern was among others raised when Premier of Nevis and Minister of Finance the Hon.  Joseph Parry and his Financial Secretary Mr. Laurie Lawrence held discussions with an IMF high level delegation on Sunday February 10, 2008, at the Royal St. Kitts Marriott Hotel.
 
In an interview with the Department of Information on Monday February 11, 2008, Mr. Lawrence said the NIA acknowledged its debt situation and several instruments would be implemented shortly to alleviate the situation.

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St. Kitts And Nevis Economy Growing According To IMF

Basseterre, St. Kitts – Nevis
February 12, 2008 (CUOPM)

Deputy Managing Director at the Washington-based International Monetary Fund (IMF), Murilo Portugal says macroeconomic outcomes in St. Kitts and Nevis have strengthened markedly in recent years.

The IMF official, who was in St. Kitts to attend last week’s meeting of the Eastern Caribbean Central Bank Monetary Council held talks with St. Kitts and Nevis Deputy Prime Minister Hon. Sam Condor and Premier of Nevis, Hon. Joseph Parry.

In a statement on his discussions with the local authorities, the IMF official noted that “growth has rebounded, foreign direct investment accelerated, and fiscal balances improved” in St. Kitts and Nevis.

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ECCB Monetary Council To Meet in St Kitts – Nevis

Basseterre, St. Kitts – Nevis February 06, 2008 (CUOPM) St. Kitts and Nevis Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas is expected to head the twin-island’s delegation to the 61st meeting of the Eastern Caribbean Central …

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