The beautiful islands of St. Kitts & Nevis are some of the most coveted in the region for travel, business, and maritime tourism. There are many direct flights that connect the country to the US and mainland Europe, with lots of cruises coming through to port, bringing in a booming tourism market and trade. St. Kitts & Nevis has had its citizenship by investment program for a relatively long time, and has a great track record with it so far. It is a stable economy that offers unique benefits to its citizens, and has a wide appeal for investors of all types.
Here’s why you should choose St. Kitts for citizenship by investment
The multi-island Caribbean nation requires no physical presence there in order to qualify for citizenship, nor any residency long-term. They have a fast processing time for applicants (four months) with an expedited “accelerated application process” that grants approval within just 60 days. You don’t have to do an interview in person, or virtually, to qualify. You also will not need to show proof of education or any previous management experience in order to invest there.
Benefits are offered to the applicant’s dependent children under the age of 30, as well as dependent parents or grandparents, should you need them to be included as well. There is no tax on worldwide income in St. Kitts & Nevis, and you will be able to travel (visa-free) to over 135 countries once you’re granted citizenship. These countries include the EU and UK! St. Kitts & Nevis recognizes dual citizenship, so you won’t need to relinquish the benefits of your native citizenship to get theirs.
How to qualify for citizenship by investment in St. Kitts & Nevis
The citizenship by investment program has existed in St. Kitts & Nevis since 1984, making it the oldest program of its kind in the world. In order for you to qualify for citizenship, you must fulfill the following:
- Show outstanding character.
- Provide a record of excellent health.
- Have a high personal net worth.
- Prove that you have no criminal record.
Here are your investment options
1. The Sustainable Growth Fund
St. Kitts & Nevis has a relatively new permanent investment, launched in 2018, known as the Sustainable Growth Fund. This fund focuses on growing jobs and the economy for locals, sustainably. The amounts for donation are categorized as the following:
- $150,000 for a single applicant.
- $25,000 additional for a spouse of an applicant.
- $10,000 additional for each dependent of the applicant.
These amounts also have due diligence fees that are added to the total at processing. These fees are:
- $7,500 for main applicant.
- $4,000 for any dependent over 16.
- $4,000 for any financial sponsor.
2. Investments in Real Estate
Any investment in real estate must be done within two holding periods. These are:
A) Five-Year Holding Period: An applicant investor can purchase government pre-approved property so long as it’s valued at a minimum of $400,000. The same can be done if the total purchase shares of a development add up to the same amount. This must be held for at least five years.
B) Seven-Year Holding Period: An applicant investor can purchase government pre-approved luxury resort property, so long as they invest a minimum of $200,000 and hold/maintain it for at least seven years.
In all cases, investors may need to pay additional taxes and application fees on properties within the framework of both holding periods.