St. Kitts and Nevis has evolved into a safe and popular tourism and second passport destination. With its sunny and sandy beaches, superb health care, low crime rate, and solid national infrastructure, the former mostly sugar-growing region and two-island republic has become one of the Caribbean’s fastest growing economies.
Since 1984, the nation has welcomed investor migrants with open arms, operating the world’s longest and best-managed Citizenship by Investment Programs (CBI). The government requires either a $150,000 contribution to the Sustainable Growth Fund (SGF) or a $400,000 real estate investment (which can be reduced to $200,000 for connected investors), plus relevant government and due diligence expenses.
Second passport program
In the worldwide marketplace of citizenship by investment schemes, their program is known as the “platinum standard brand.” Investors are guided through an expedited application procedure that allows full citizenship to be granted in as little as 60 days in most circumstances. No other country’s citizenship by investment scheme offers such an excellent expedited feature.
In addition to its excellent passport, St. Kitts and Nevis provides excellent offshore banking and a wide range of insurance services in a tax-friendly environment to its investor migrants. For example, the country protects financial privacy by withholding information about the owners and top executives of offshore companies based there. To incorporate in St. Kitts and Nevis, just one director and one shareholder are required, and the two roles might be held by the same individual. Any foreign income earned by a trust in the nation is tax-free. To prevent such difficulties, the government has declined to enter any tax treaties with other countries.
Benefits of St. Kitts and Nevis citizenship
St. Kitts and Nevis has no tax on income or capital earned outside of the country, thus a second citizenship might be a useful addition to existing tax planning and wealth protection measures. Visa-free travel is available to citizens of St. Kitts and Nevis in over 165 countries, including the EU Schengen visa zone, the United Kingdom, Ireland, and Switzerland.
For migrant investors, the whole second passport application procedure in St Kitts and Nevis is quick and easy. Within 60 days of making the investment and submitting the citizenship application, the new citizens can receive the dark blue passport booklets with typical golden lettering.
The passport does not need residency or a visit to St Kitts. It is one of the most cost-effective ways to get second citizenship. It is simple to get, and dependents under the age of 30 as well as parents and grandparents above the age of 55 can be included in the application.
Real estate market
St. Kitts real estate is growing in popularity among homeowners seeking a beautiful environment, excellent living circumstances, and a relaxing ambiance. Luxury villas and apartments, as well as international hotels and high-end resorts, are available in St. Kitts.
The United States and the United Kingdom are the countries with the most interest in premium real estate, but other nations, such as Russians who are buying real estate in St Kitts, are also interested. The Citizenship by Investment Program has boosted sales in recent years. Strong rental demand is also driving up investment yields.
Real estate investment includes purchasing hotel shares, villas, or condominium units. A minimum investment of $200,000 USD for a period of seven years, or $400,000 USD for a period of five years following the acquisition is required. Non-refundable due diligence and processing costs apply upon submission: $7,500 US for the main applicant and $4,000 US for each dependent of the main applicant over the age of 16. A fair required insurance fund contribution and conveyance costs are not included in the purchase price. The Marriott Hotel and Residences, the Park Hyatt, the Koi, the Ramada Hotel and Resorts, and the Four Seasons are the only five branded hotels in the Organization of Eastern Caribbean States (O.E.C.S.). Pirates Bay, a Wyndham Hotels & Resorts property, is also located nearby.
Citizenship by Investment (CBI) investors have the option of purchasing government-approved real estate holdings. Investors can sell their homes and keep their citizenship after the requisite holding term of five years (in the case of solo investment) or seven years (in the case of joint investment).
More than 75% of candidates select property investment to obtain citizenship in St Kitts and Nevis as of April 2020. Last year, the Citizen by Investment Program authorized 100 properties.
Purchasing a share in magnificent hotels and resorts operated by world-famous hotel management organizations is one of the most cost-effective St Kitts investment choices. As a result, the investors don’t have to operate the property themselves and may have the option of staying at the hotel for several weeks a year or receiving a rental income. Shareholders get access to the hotel’s loyalty program, which includes accommodation upgrades, early booking, and discounts at all of the chain hotels worldwide.
Investing in Saint Kitts and Nevis brings you a lot of possibilities. Having a passport from that prosperous Caribbean nation entitles you access to all of the government’s advantages, both within and outside the country.