NIA CHARLESTOWN, NEVIS (December 03, 2025)- The Nevis Island Administration (NIA) has announced that its building concession programmes will be extended and modified for 2026, providing greater support to first-time homeowners, vulnerable property owners, and investors seeking to expand commercial and residential infrastructure on the island.
Premier the Honourable Mark Brantley made the announcement during his December 02 Budget Address, highlighting the Administration’s continued focus on stimulating economic activity in key sectors.
“To boost economic activity especially in the construction sector and retail sectors, we will continue our existing policy for fiscal incentives on building materials for all applicants seeking concessions under the first-time homeowner’s programmes, which is designed to incentivize first time construction for citizens on St. Kitts and Nevis.”
The Premier further confirmed that the Build and Renovate Programme, introduced in 2025 to assist persons renovating or extending their homes, will remain in place for the new fiscal year. However, it will undergo adjustments to ensure the benefits are better aligned with the needs of vulnerable households.
He explained that the programme has been redesigned “so as to ensure that concessions granted under this program are more targeted to meet the needs of the more vulnerable persons within our community.”
Under the revised framework, concessions will now be linked to the assessed value of the applicant’s property. A property value assessment notice issued by the Inland Revenue Department will be required when applying.
The concessions have been restructured into two categories:
Category 1
Properties valued at $400,000 or below
– Exemption from Customs Duties and Customs Service Charge on building materials
– Only 17% VAT payable
Category 2
Properties valued above $400,000
– Exemption from Customs Duties only
– Customs Service Charge and VAT payable
In addition to residential concessions, the NIA is moving to stimulate commercial growth and new business development. Premier Brantley reported that assessments conducted across the island indicate a shortage of commercial spaces available for rent or lease, which poses a challenge for new and expanding businesses.
“To this end, my government will continue our policy to grant appropriate concessions as incentives to persons wishing to invest in the development of commercial space to facilitate business development.”
He continued, “In a similar way, as we incentivize the movement of persons, we are acutely aware that there will be a growing need for more residential dwellings such as apartment buildings. We will therefore continue our concession programme for persons seeking to invest in the construction of apartments and other structures for rental accommodation.”
The extended and expanded concession programme is expected to generate increased construction activity, support employment, and enhance both residential and commercial infrastructure across Nevis.
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