As previously outlined, one of the roles of NEDD is to guide new business owners through the process of applying for duty free concessions and other relief or incentives. The application process for Import Duty concessions is one that involves different government agencies as it is not simply filling out an application form. The steps involved in this process are:
- Requesting status from the St. Christopher & Nevis Social Security Board, Inland Revenue Department and SKELEC on whether the enterprise is meeting its financial obligations
- Requesting the input of the Ministry of Finance (as the financial body of the government) on the client’s request
- Requesting Cabinet’s or the Honorable Minister’s decision on the client’s request
However, before the above can be performed there are requirements and documents that must be provided to facilitate the application. Please see documents below:
Business Licence – All applications must be from a legalized business
Business Plan – As NEDD is governed by the Small Business Development Act of 2009, which states that a business plan which includes twenty-four (24) months financial projection, a business plan is required.
Approval of Business Status Form (ABS) – this form captures the information of the business at a glance. This form is signed by the assigned officer once the interview and site visit of the business has been completed. It also has to be signed by the Permanent Secretary and the Honourable Minister. Ultimately this form is to make the business and approved small business which can then access the incentives within the Small Business Development Act of 2009.
Requirements List – This details how one applies for duty free concessions and the information to provide.