Growth in this sector has been fueled by the introduction of Foundations in 2003 and Captive Insurance Companies in 2006. A Foundation is essentially an instrument for wealth management and estate planning; typically used to contribute to the cost of the upbringing of children, education, aid, maintenance and so forth.
St. Kitts is one of the first countries in the Caribbean region to introduce this civil law concept into a common law system (Foundation).
Captive Insurance offers an alternative way of managing and financing small business risks.
The minimum capital requirements for these companies are more affordable than the minimum requirements for normal captives.