Citizenship planning plays an important role in today’s world, providing access to public services, namely education, health care, infrastructural development, right to vote and the responsibility to abide by the country’s laws. With the advent of globalization, however, over and above being the citizens of one country, people are now becoming ‘global citizens’. To fully realize the business and personal potential of today’s global world, a strong global presence is of utmost importance. This is why there has been a surging interest in acquiring a secondary citizenship to strengthen global perception and access even further. A second citizenship not only accords an individual a chance of having a second home, but the reasons for wanting it can be sentimental, relating to personal liberty, or even be important career-related grounds. Similarly, international travel has become desirable for the process of creation and preservation of wealth.
In order to come into possession of a secondary citizenship, there are a lot of profitable avenues available today. Among these, a second citizenship by investment has recorded tremendous traction recently, due to a wide range of benefits it confers upon the applicants. The St. Kitts and Nevis Citizenship by Investment has by far been one of the most sought after citizenship programs, relying on the country’s strategic political standing, stable economy, and the overall high standard of life it offers.
Why Apply For A Second Citizenship By Investment?
With the advent of globalization, almost every market has attained an international character. Everyone feels the need to travel abroad for academic, professional, and recreational purposes. Moreover, given that certain countries offer better career and educational opportunities than the others, there has been an emerging trend of shifting bases across the borders. There are also instances of enforced migration due to political instability, ongoing conflicts or inclement weather. Further, often the affluent classes tend to retreat to quieter and more suitable destinations in pursuit of an upgraded and luxurious lifestyle. Whatever may be the reason behind the movement, countries foster different degrees of flexibility in terms of permitting entry within their territory.
The reasons behind applying for secondary citizenships may be plenty, among which greater global connectivity, alliance with strategic international organizations, lifestyle and business upgrade, and escaping prosecution figure prominently. While the latter ushers in a different range of complications, the first few appeal to high-net-worth individuals and entrepreneurs from different parts of the world.
Amongst the most popular and inclusive modes of acquiring citizenships of other countries is the recently developed citizenship by investment program. An increasing number of countries are participating in this ingenious scheme through which individuals from different corners of the world can avail of the citizenship of a particular country in exchange for a certain amount of investment. Businessmen, students, travelers, diplomats, and even retired professionals are increasingly getting attracted to this mode of obtaining citizenship for a variety of reasons.
On the other hand, citizenship by investment countries stand to make a substantial economic gain as well as diversify their culture and society by including people from different parts of the world and different experiences within their fold. This mutually profitable program has therefore tasted widespread success, and the number of participating countries is increasing rapidly. With more number of countries facilitating such provisions, the applicants can now choose between different countries and decide to apply for the one best suited to their needs. A factor that is worth considering is the passport index of the country in terms of the range of visa-free/visa on arrival travel that it enables. For a wide array of reasons, the St. Kitts and Nevis Citizenship by Investment program has emerged a forerunner recently.
St. Kitts & Nevis Citizenship by Investment
A mesmerizing Caribbean island, surrounded by serene waters and lush mountains, St. Kitts and Nevis has had one of the oldest running citizenship by investment programs. The St. Kitts & Nevis Citizenship application procedure is very smooth and prompt and yields guaranteed results. The applicant is required to invest at least $200,000 or $400,000 in one of the government-approved real estate developments as well as the government fees and other fees and taxes. Alternatively, applicants can make a contribution to the Sugar Industry Diversification Foundation and a non-refundable deposit to the Sustainable Growth Fund. The St. Kitts and Nevis citizenship benefits are many, as it provides lifelong and permanent citizenship to the applicants and their family members, along with a passport which facilitates access to visa-free or visa-on-arrival travel to 137 destinations, including all of the EU.
Life in St. Kitts & Nevis
Located a few kilometers off the Miami coast, St. Kitts and Nevis is an idyllic citizenship by investment Caribbean Island, blessed with a pleasant climate all year long and unparalleled scenic beauty. As a commonwealth nation, the ceremonial head of the state continues to be the Queen of England, although St. Kitts & Nevis is a functional democracy with a steady political ambiance. The island has sprawling sand-covered beaches and coral reefs lining the coasts. The tranquil blue waters complement the clear skies and the huge range of activities – be it kayaking, snorkeling, paragliding, or simply swimming or sunbathing – make the beaches of St. Kitts and Nevis an enjoyable experience for all. Deeper into the islands there are spectacular mountains at the center of which is the Mount Liamuiga, a dormant volcano covered in lush, tropical forests.
The islands also have immense historical significance, being one of the most significant powers to resist the colonial invasion of the West Indies. St. Kitts and Nevis abounds in sugar plantations and many such plantations stand from the days of colonialism. The islands are home to a scintillating culture and full of energetic rhythms, characteristic of the Caribbean. The carnivalesque pulse of the island is infused with the beats of Salsa, Jazz, and Calypso.
In the contemporary context, St. Kitts and Nevis figures as an important political stakeholder on account of its membership to several strategic international organizations. It is a member of the United Nations, the British Commonwealth, and CARICOM to name a few. It is therefore not surprising that in terms of global passport index, St. Kitts and Nevis boasts a high rank. Further, it’s umbilical ties with the U.K. accords it with the default benefits of an EU membership. Accordingly, citizens of St. Kitts and Nevis can travel without visas to any of the EU member countries.
On the economic front, St. Kitts & Nevis has one of the most flourishing economies in the entire Caribbean. Due to its close proximity to the U.S as well as Europe, the trade prospects are fairly high. Further, the islands have thriving labor-intensive manufacturing units, which makes it a promising destination for offshore investors. The expansion of the tourism and real estate industries has also boosted the economic growth of St. Kitts and Nevis. So, while visiting the islands can be a delightful experience, making a life here will guarantee a lifetime of comfort. The St. Kitts and Nevis Citizenship by Investment thus offers a flurry of advantages.
Eligibility for Citizenship Investment Program
The application process for St. Kitts and Nevis Citizenship by Investment Program is very straightforward and hassle-free. The citizenship may be acquired within a short span of 3 to 6 months in exchange for an investment of a minimum of $200,000. While the procedure is rather simple, the authorities ensure that only credible applicants are granted citizenship, so rigorous background checks are conducted on the applicant.
However, when it comes to the eligibility criteria, they may be divided into two categories: financial and non-financial. The non-financial requirements primarily entail being of at least 18 years of age and having a clean criminal record, verified by official documents. The financial requirements are slightly more elaborate and they involve contributions to the development of the country, the purchase of a real estate property, and other government recommended investments.
- Every applicant has to make a non-refundable donation of a minimum amount of a $150,000 to the St. Kitts and Nevis Sustainable Growth Fund (SGF)
- A non-refundable contribution to the Sugar Industry Diversification Foundation (SIDF) of at least $250,000 for a single applicant
- An investment in the real estate property with a minimum value of $200,000 from an approved real estate developer. The real estate must not be resold within a period of seven years
- A purchase of a real estate asset, worth a minimum of $400,000 from an approved real estate developer which cannot be resold for a period of five years
Acquiring citizenship under the donation option requires an applicant to make a non-refundable contribution to either the SIDF or SGF. The remaining financial investment for the St. Kitts and Nevis Citizenship by Investment needs to be routed through any of the options above. It is expedient to make an informed call on the necessary investment in order to optimize the benefits reaped on the investments. It becomes important to understand the end goals and nature of the investments made, so that along with the overt benefits of citizenship and the St. Kitts and Nevis passport by investment, one can also enjoy the returns on investments made in the years to follow.
The SIDF is a non-profit foundation set up in order to exclusively support the former sugar workers, to conduct research on the development of industries to replace the sugar industry, to fund the development of these alternative industries, and to provide further support to secure the sustainability of the national economy. The SIDF has been deemed a special approved project by the Government for the purposes of the St. Kitts and Nevis Citizenship by Investment Program; its accounts are public and are annually audited by a large international audit firm. On the other hand, the SGF is a fund established with the aim of supporting economic growth and strengthening the infrastructure of all sectors of the economy.
Investment Required For Citizenship For Dependents
- The main applicant is required to make a contribution of amounting to $250,000 to the SIDF
- An applicant having a maximum of three dependents is required to make a contribution of $300,000 to the SIDF
- A contribution of $25,000 is required for each additional family member or dependent, irrespective of age
- A single applicant is expected to donate $150,000 with an additional contribution of $25,000 for a spouse and $10,000 for each additional dependent (SGF Option)
Under each of the criteria listed within the larger umbrella of the SIDF or the SGF schemes, the total amount includes all government fees but excludes due diligence fees. For those investing in real estate property as well, there is a due diligence fee charged over and above the said amount. The main applicant may also add a dependent aged between 18 and 30 years to be included in the application if the dependent is a full-time student and is supported financially by the main applicant. The process also permits parents and grandparents over the age of 55 to be included in the application as dependents, if they are residing with and are entirely supported by the main applicant.
Other than the detailed St. Kitts and Nevis Citizenship by Investment program, individuals may also choose the Accelerated Application Process (AAP), available with 45 to 60 days processing time frame, although this might entail additional costs.
Benefits Of Citizenship Of St. Kitts And Nevis
A promise of a peaceful locale to reside, thrive and retire in, and the possession of a passport with a powerful global ranking, the St. Kitts and Nevis Citizenship by Investment is a judicious investment to make in the contemporary context. Acquiring the St. Kitts and Nevis passport by investment opens up numerous travel opportunities and enables the fulfillment of a lot of global aspirations.
Here are some of the benefits of the St.Kitts and Nevis citizenship:
- Visa-free travel to all EU Schengen countries including Ireland, UK, and Switzerland
- No St. Kitts and Nevis Citizenship by residency or visit necessary
- Completely tax-free
- Lifelong citizenship
- A second passport and citizenship for the applicant’s family members and dependants
- Comfortable life in a small peaceful country
- Dual citizenship benefits
- Wide range of choice of real estate investment
The benefits that the St. Kitts and Nevis passport by investment brings along are several. To begin with, visa-free or on-arrival visa travel to 152 destinations including Singapore, Hong Kong, Russia, and the EU-Schengen zone. There onwards, by virtue of its strategic alliances, the citizens of the island are also eligible to enjoy the benefits limited to the members of the Commonwealth. Moreover, the prompt processing time and the ease of application adds to its popularity. The investment corresponding to the benefits accrue makes the St. Kitts and Nevis Citizenship by Investment program highly appealing to the high-net-worth individuals from different corners of the world.
St. Kitts and Nevis offers an ideal location for establishing a second home, surrounded by blue waters and the verdant mountains. Moreover, with a booming economy, the islands have emerged as a hotbed of foreign investments. However, the impressive perks with regard to international travel, without the hassle and expense of travel permits is one of the best benefits of the citizenship program. As one of the longest-running citizenship by investment programs, it is one of the most reliable routes to acquiring a secondary citizenship.
St. Kitts and Nevis Passport by Investment
The St. Kitts and Nevis passport has marked a significant rise in the global passport index. Currently, ranked 20th worldwide, the passport of St. Kitts and Nevis has a score of 137 and facilitates visa-free travel to 103 countries all over the world. Moreover, with the passport of St. Kitts and Nevis, passport-holders can also avail the option of visa-on-arrival in as many as 34 nations. The scope of unrestricted travel to any of the EU nations, as well as Switzerland and Ireland, are very lucrative benefits that the St. Kitts and Nevis passport offers. For this reason, getting the possession of a St. Kitts and Nevis passport by investment can prove to be extremely beneficial for an individual.
The best part about this citizenship by investment program is that a single application also includes the applicant’s family members and may be passed on to the descendants. Further, since the St. Kitts and Nevis Citizenship by Investment allows for dual citizenship, applicants need not forfeit their original passports or citizenships if they apply for the St. Kitts and Nevis passport by investment. Pitted against the huge range of benefits that a secondary citizenship of St. Kitts and Nevis ushers, the required investment for the entire process comes across as very reasonable and worthwhile. The process of application and granting of the citizenship is fairly smooth and prompt and merely entails fulfilling a few basic steps.