- January 31, 2014
- |Featured Projects
The Frigate Bay Development Corporation located on the outskirts of town initially had 14-16 acres of land for commercial and residential sale primarily for locals.
Currently, there are approximately 14 acres of land behind Timothy Beach Resort, located in Frigate Bay, which is intended to be used for commercial purposes.
The minimum cost per acre is US$200,000.
- Frigate Bay is earmark for Tourism Development.
- Lands are located between the Caribbean Ocean and Atlantic Ocean; therefore, it is in close proximity to the beaches.
- Area is in close proximity to Basseterre, the capital of St. Kitts, where a lot of economic activities take place.
- Frigate Bay offers recreational activities.
EXEMPTION FROM ALIEN LAND HOLDING LICENCE
Since Frigate Bay and South East Peninsula are special development zones, the investor is exempt from paying the alien land-holding license which is generally 10% of the gross purchase price of the property.
EXEMPTION FROM IMPORT DUTIES
Building materials are exempt from duties.
Individuals investing a minimum of US$400,000 in projects in the Frigate bay area can apply for citizenship.
Frigate Bay Development Corporation
Frigate Bay, Basseterre
St. Kitts, W.I.
Tel: (869)-465-8237 or (869)-465-5776 or (869)-465-8339