Saint Kitts, earlier known as Saint Christopher island is a beautiful island in the West Indies. Nevis is the neighboring island of St. Kitts and they together form one country namely, St. Kitts and Nevis. It consists of different ethnic groups like South Asian, British, Portuguese, African, and Lebanese. It is a scarcely populated country with the primary language being English and a good literacy rate of 98 percent. Considering the literacy rate, it is obvious that St. Kitts and Nevis has many reputable institutions for higher education. Tourism is the major industry of St. Kitts and Nevis with other industries like transportation, manufacturing, and construction also playing a major role. It is composed of 2 islands of the Lesser Antilles and the eastern Caribbean Sea. The monetary unit is the Eastern Caribbean dollar (EC$) and the population is less than 50,000. With St. Kitts & Nevis’ breathtaking charm, tantalizing warm skies, and beautiful stretches of white sand, an investor has a golden opportunity to be a citizen of St. Kitts & Nevis in just a few months.
St. Kitts and Nevis citizenship law allows a person to acquire citizenship through investment in structured programs prescribed by the government. It should be noted that these investments have to be legally approved by the government and the applicants have to pass strict background and authenticity tests before an applicant can qualify for citizenship. What is behind the St. Kitts & Nevis EU Citizenship Sale?
The St. Kitts and Nevis Citizenship by investment programme is one of the oldest and most reliable investment programmes and was established in the year 1984. This particular citizenship program gives an opportunity for investors to become a citizen by law by making fixed investments in real estate projects or investments through donations in government bonds. St. Kitts & Nevis has adopted a structured program on the basis of investments which directly lead to an increase in foreign direct investment, thus opening avenues to accelerated economic development.
What Is Citizenship By Investment?
The idea of having a second passport seemed absurd a few years back, but with the increase in globalization, the desire to own citizenship of more than one country has increased. This increased the demand for second citizenship and also made it important for the second citizenship countries to have fixed laws and procedures for applicants to gain a second citizenship. Having a second passport is a status quo for the rich and successful business people and investors of the world. Citizenship by investment is a detailed procedure where an individual has to invest a fixed amount of funds in a country and gets a second passport with economic and social benefits. There are different instruments of investment which are made and eventually processed after a stringent criminal and background check of the source of investment. Every citizenship program is different and has different requirements and investments to be made. Legal citizenship by investment programme is always incorporated in the country’s constitution and clearly specifies the criteria of investment.
Why Should One Opt For A Second Passport?
The popularity of possessing the second passport has become a golden goal for many entrepreneurs and high net value individuals due to the many benefits that a second passport provides. These benefits include:
- Significant reduction in tax and better tax management.
- Dual citizenship opportunities that give business owners the freedom to operate in more than one country freely and expand their trade overseas.
- It serves as a safe haven in times of conflict and uncertainties that can arise due to politics, religion, and trade.
- It is an abode where an applicant can take refuge in any time of need.
- It offers a better standard of living in terms of lifestyle, education, business, and healthcare facilities.
- It increases value in affluent social circles and helps get better contacts for business.
Why Should You Choose St. Kitts & Nevis Citizenship Program For A Second Passport?
Among the various citizenship by investment programmes, the St. Kitts and Nevis programme is immensely popular for various reasons.
- The island has a tropical climate, crystal clear waters, and a thriving trade and tourism economy.
- It offers citizens a large number of benefits if they invest through the St. Kitts & Nevis Citizenship by investment program.
- The St. Kitts & Nevis passport holds an excellent reputation and offers various benefits.
- St. Kitts and Nevis is extremely well connected by air and has a number of flights operating from St. Kitts & Nevis to Europe and to the U.S.
- The average time for processing of passport very quick, at only 4 – 6 months.
- An accelerated application process is also available where the applicant gets approval for the application within a time period of 60 days.
St. Kitts & Nevis Citizenship Act
The St. Kitts & Nevis citizenship act came into existence in 1984 and enables an applicant to make an economic investment in the country in exchange for a direct and full citizenship for the applicant and the family. The applicant has to make an investment of a minimum $400,000 or invest $200,000 in a real estate project and has to pay the legal and government fees specified in the St. Kitts & Nevis citizenship act in addition to the original investment.
The other investment option is making a contribution (donation) to the Sugar industry diversification fund (SIDF) or the Sustainable Growth (SGF), which is a charity for the public funds. The investment amount for this fund respectively is $250,000 and $150,000 for each applicant. These funds were originally created for the overall economic growth and development of the region.
The regulations related to St. Kitts & Nevis citizenship Act pertaining to citizenship by investment is documented in Part II, Section 3(5) of the Citizenship Act, 1984. This act serves as a provision to grant citizenship to applicants under fixed benchmarks by the specified law.
A person possessing a St. Kitts and Nevis passport through St. Kitts & Nevis citizenship by law can travel visa-free to 102 countries all over the world and with visa on arrival to 35 other nations after the investment is approved. St. Kitts & Nevis citizenship by law has the following features:
- St. Kitts & Nevis Citizenship Act was established to promote foreign direct investment in the country and give citizens a plethora of benefits in return. It gives the opportunity of visa-free travel to over 102 countries and visa on arrival to 35 counties including the Schengen countries, Switzerland, the U.K., and Ireland.
- It gives lifetime citizenship, which doesn’t need renewal at any point.
- It’s easy and simple to apply for citizenship for family members with the same application.
- The income earned in St. Kitts & Nevis is tax-free income.
- St. Kitts & Nevis doesn’t charge tax on overseas income. It’s a country with a limited population that allows a peaceful and stress-free life.
- The St. Kitts and Nevis citizenship law gives applicants the benefit of dual citizenship without having to give up on the citizenship of the native country.
- St. Kitts & Nevis passport is of high reputation and the citizenship by investment programme is the easiest and most cost-effective way of gaining citizenship of this beautiful island.
- The applicant doesn’t have to visit St. Nevis during the process of application and there is no need to maintain residency before citizenship is granted.
- It provides global freedom and security.
- St. Kitts and Nevis provides a fast processing system where citizenship is granted within four months of application.
- An applicant can be at ease since there are no personal interviews, specific educational degrees, or corporate experience required.
- The main applicant can include dependent children under the age of 30 years and dependent adults, including parents or their grandparents above 55 years of age.
- The St. Kitts and Nevis passport is valid for 10 years for an applicant above 16 years of age and for children under 16 years the passport is valid for 5 years, after which the passport can be renewed.
- When an applicant acquires citizenship under the Citizenship by investment programme of St. Kitts & Nevis, the applicant and his family have the benefit of enjoying citizenship for a lifetime.
- This citizenship can be passed on to future generations of the applicant without any extra documentation or cost.The applicant and the family also have the special right to have their residence in the majority of the CARICOM member countries without any hassle at any point of time.
St. Kitts & Nevis Allows Dual Citizenship
The citizens of St. Kitts & Nevis are given the permission by law to hold a dual citizenship and it provides an applicant the benefit of security by not reporting the second citizenship status to any other country. This enables an applicant to maintain secrecy without any invasion of privacy or interference of any other government.
Who Can Qualify For The St. Kitts and Nevis Citizenship By Investment Program?
The St. Kitts and Nevis citizenship by investment programme is the oldest citizenship by investment programme in the world. There are certain basic criteria for an applicant to qualify for St. Kitts & Nevis citizenship by investment program.
- The applicant should not be of an unstable mind.
- The applicant should be of an exceptional character.
- The applicant should not have any criminal record against him/her.
- The applicant should be of very good health and should have no contagious disease.
- The applicant should be able to show a high net worth income to apply for citizenship by investment.
St. Kitts And Nevis Citizenship By Investment Application Process
The St. Kitts and Nevis citizenship application process is straightforward and consists of the following steps:
- Application process
At this stage, the application is prepared for submission and the applicant decides the type of investment to be made.
- Submission and Review of Application
At this stage, the application is submitted for due diligence and review by officials.
- Result of the application
At this stage, it is determined whether the application has been approved or rejected.
- Investment completion stage
After receiving in principle approval for the citizenship application, the applicant has to make the whole investment for the procedure to move ahead.
- Approval of citizenship
At this stage, the citizenship is granted and the passport is issued to the applicant.
Under the St. Kitts and Nevis citizenship by investment programme, there are certain investments that need to be made.
Real estate investment option
St. Kitts & Nevis is the Caribbean’s most luxurious destination. There are new developments in real estate and construction being made. Once the developments commence, St. Kitts and Nevis will make available to the applicants an extended variety of property which will include 5-star properties and luxurious superyacht marinas that will be inclusive of world-class amenities. The good news is that the real estate prices in St. Kitts & Nevis have been stable over a period of time and are cheaper compared to the other Caribbean islands making it one of the most sought-after citizenship by investment Caribbean program
An applicant can acquire citizenship of St. Kitts & Nevis by investing in designated real estate properties which can only be liquidated after a period of 5 years.
There are 2 options of investment in real estate
- The applicant has to purchase a legal property or buy shares in real estate development. The worth of the shares has to be at least $400,000 and the investment has to be maintained for a period of at least 5 years.
- The applicant can invest in a government-approved resort with luxury facilities. The property value has to be $200,000. This investment has to be maintained for a period of at least 7 years.
It is essential that the real estate property has to be approved by the government of St. Kitts & Nevis. Here is a list of few of the approved properties for St. Kitts & Nevis. The applicant has to be updated with the details of any additional property that has been added to the list of approved real estate before making an investment.
- Beach & Golf Residence Ltd
- Beacon Heights
- Beaumont Park
- Belmont gardens
- Botanical Gardens
- Brimstone Village
- Busch Hill Gardens
- Butlers Estate Resort Residences
- Calypso Bay
- Caribbean Galaxy Real estate Corporation
- Caribbean Scenic Resort
- Carino Hamilton estate
- Castle Bay Villas
- Royal St. Kitts Beach Resort Limited
- Sea lofts
- Seaview Gardens
- Sea Vista Apartments
- Silver Reef
- Nelson Spring Beach Villa and Spa
Sustainable growth fund contribution (Donation in government funds)
The SGF fund was launched in the year 2018 and it was mainly established to replace the temporary Hurricane Relief fund that has wrecked St. Kitts & Nevis by the hurricanes in the Caribbean. An applicant can apply for St. Kitts & Nevis citizenship by contributing to the SGF (Sustainable Growth Fund). To qualify for citizenship under the sustainable growth fund contribution a single applicant has to make a contribution of $150,000 under a single application and if the main applicant is applying along with 3 dependents, the contribution is $195,000 which is non-refundable. If there are more than 3 dependents, an additional contribution of $10,000 has to be made regardless of the age of the applicant.
A non-refundable due diligence fee of $7,500 has to be paid in case of a single applicant and $4,000 in case of a dependent of the main applicant over the age of 16 years.
The Sustainable Growth Fund is invested in public areas of healthcare facilities, development in the education sector, research for alternative energy sources, infrastructure and development, tourism sector, and promoting small entrepreneurs. This fund was mainly established to accelerate economic development in the region.
SIDF (Sugar industry diversification fund)
SIDF fund was founded as a charity fund by the government of St. Kitts & Nevis to enable the sugar factories to raise funds for the sugar industry workers. An applicant is required to contribute $250,000 per person under this fund which is non-refundable. The applicant has to make this donation after the passport has been issued. There are four different categories of SIDF fund contribution depending on the family members of the applicant. The amount to be invested is $250,000, with additional government fees. The amount to be invested increases with additional applicants.
The fee schedule for citizenship planning through investment in St. Kitts & Nevis
Whatever may be the mode of investment to acquire citizenship through citizenship planning, the fee is inclusive of government fees, due diligence fees, and lawyer fees. There is, however, an additional fee for spouse, children, and dependents.
- Minimum investment: $150,000 for Sustainable Growth Fund or $200,000 for real estate.
- Government fees:
- $35,000 fees for the main applicant.
- $20,000 for the spouse of the main applicant
- $10,000 for children of the main applicant regardless of age (In the case of real Investments)
- Due diligence fee: $7,500 per person
- Passport fee: $350 per person.
St. Kitts and Nevis is a paradise comprised of the beauty of 2 islands and is considered to be among the most beautiful islands in the Caribbean, boasting of a paradise like lush green landscape with beautiful blue waters. St. Kitts and Nevis has plenty of sunshine, warm sea air, and thriving vegetation. Mount Liamuiga is at the center of St. Kitts and stands tall and spectacular. The climate is perfect for tropical plants of different breed and variety. It has a beautifully designed golf course between the Caribbean and Atlantic. St. Kitts and Nevis provides various opportunities for investors to invest in the tourism sector. The workforce of St Nevis is honest and hard-working, making it easy to invest and start a new business. Various tax subsidies are provided by the government to new and emerging investors. All these reasons make St. Kitts and Nevis a popular destination to seek a second passport from.
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