Industries Benefiting from EOR Services in Saint Kitts and Nevis
Automotive Industry Exports
Overview: Machinery and transport equipment are among the top exports of Saint Kitts and Nevis.
Key Products: Vehicles (6.76% of total exports in 2022), Electrical control boards and mechanical appliances, Exporting boat propellers and scrap vessels.
Export Framework: Importance of an Exporter of Record (EOR) in managing export documentation, such as DAP and DAPS deliveries.Usage of the Export Register for easy approval with global trade standards.
Information Technology (IT) Sector
Overview: A government-driven initiative to diversify the economy and boost technological innovation.
Key Initiatives:
ICT Center: Advanced training and support for IT companies.
St. Kitts and Nevis Internet Exchange (SKNIX): Improve domestic internet traffic and connectivity.
Whole of Government Technology Strategy: Focused on process transformation and global information security standards.
Export Potential: IT services for aviation logistics, export management systems, and digital transformation solutions. Opportunities for compliance with Harmonized System Codes (HS Codes) in software and hardware exports.
Aviation Industry Exports
Overview: Growing focus on aviation due to its strategic position for trade.
Key Products: Aircraft parts and components (avionics, landing gear), Aviation technology, and software for flight management and booking systems.
Export Processes: Role of EOR Exporter of Record to handle documentation and pre-transit procedures, Compliance with HS Codes for aviation-related exports.
Key Markets: CARICOM, North America, and Europe.
Medical and Healthcare Industry
Overview: Medicinal exports reached $8.232 million in 2023, showing steady growth.
Key Products: medical equipment, Machinery for medical applications.
Export Highlights: Leveraging the Generalized System of Preferences (GSP) to reduce tariffs in emerging markets in Africa and Asia. Utilizing Exporter of Record Services to ensure compliance with destination country standards.
Key Markets: United States, St. Lucia, Trinidad and Tobago, and expanding markets in Europe
Advantages of Using an EOR in Saint Kitts and Nevis:
Simplified Processes: Reduces the overload of managing complex export documentation and compliance requirements.
Global Trade Expertise: Ensures adherence to international standards and regulations for seamless cross-border trade.
Enhanced Efficiency: Speeds up customs clearance and reduces delays at ports.
Focus on Growth: Businesses can concentrate on core operations while the EOR manages export-related responsibilities.
Legal Protection: Minimizes risks of non-compliance, penalties, or shipment rejections.
Customs and Trade Facilitation
Saint Kitts and Nevis’ customs regulations establish principles for transferring goods and vehicles across borders. Key areas include:
Customs Regulations: Ensure agreement with authorities, payments, and registration processes.
Export Applications: Utilize tools like the PHIS statements module for streamlined processing.
Tariff Data: The World Tariff Profiles database provides critical insights into tariff rates and the HS system.
Services Database: Offers a comparative analysis of service commitments across members.
Key Benefits of Partnering with One Union Solutions
Seamless Compliance
From managing the HS Code to meeting destination country regulations, we handle all aspects of compliance.
Streamlined Logistics
Our expertise in DAP and DAPS deliveries ensures goods reach their destination without disruptions.
Global Presence
With a network spanning over 170+ countries, we bring local expertise to global trade challenges.
Risk Mitigation
By managing your export of record responsibilities, we minimize the risk of fines, delays, or
Penalties.
Conclusion:
Saint Kitts and Nevis offers businesses opportunities to expand into new markets with its growing export sectors and strategic trade agreements. With One Union Solutions as your Exporter of Record, you can focus on business growth while we handle compliance, logistics, and export requirements.
Contact us to simplify your export processes and unlock global opportunities with our trusted EOR services.
DID YOU KNOW?
“We recorded 69,695 tons of merchandise, up 43,786 tons over the 25,909 tons realized in 2018 for a massive 169 percent growth in manufacturing exports year on year,”
