Saint Kitts and Nevis citizenship by investment

Article Breakdown

Saint Kitts And Nevis Passport CoverThe oldest CBI program of its sort in the world is the St. Kitts and Nevis Citizenship by Investment Program. This CBI program launched in 1984 and offers qualifying candidates citizenship and a passport in exchange for a donation or real estate investment.

The government demands either a minimum investment of $400,000 in real estate (which can be reduced to $200,000 for connected investors) or a minimum donation of $150,000 to the Sustainable Growth Fund (SGF), plus associated government and due diligence fee.

A second citizenship could supplement current tax planning and wealth protection tactics since Saint Kitts and Nevis has no tax on capital or income earned abroad. Visa-free access is available to St. Kitts and Nevis residents in over 165 nations, including visa free access to the EU Schengen area, the UK, Ireland, and Switzerland.

Along with dependent parents starting at age 55, dependent children up to the age of 30 can also be included. It is not necessary to go. There are administrative, professional, and due diligence fees.

Program History

Two Caribbean islands called St. Kitts and Nevis provide gorgeous beaches and lush surroundings. African, British, Carib, and French influences can be found in its rich culture. With good air connections to Europe and North America, it is a desirable place for buying a second house in the Caribbean.

A long-running “Citizenship-by-Investment” program administered by the government of St. Kitts and Nevis attracts foreigners who significantly advance the nation. Investors, together with any immediate family members, can directly become citizens through investment, whether they do so through a contribution or a real estate investment.

A second passport from St. Kitts is a great option for visa-free travel to more than 100 countries in Europe and the Caribbean. Following the investment, it typically takes 6 months to acquire the passport.

St. Kitts’ citizenship scheme, which was founded in 1984, demands that applicants contribute financially to the nation. In return, they receive full citizenship for themselves and their families.

The Citizenship Act of 1984, Part II, Section 3(5), and the Saint Christopher and Nevis Citizenship by Investment Regulations of 2011 provide the legal framework for citizenship by investment. These clauses enable the government to run a citizenship program in which those who meet the requirements established by cabinet resolution are given citizenship.

Investment requirements for citizenship in St. Kitts and Nevis

Rounded Saint Kitts and Nevis Flag IconCandidates for the St. Kitts and Nevis Citizenship by Investment Program must significantly boost the nation’s economy.

In exchange, the applicants and their families are given full citizenship, subject to a rigorous application process that includes extensive background checks.

The primary candidate must be over 18 years of age, satisfy the application requirements, and choose one of the following investment options in order to be eligible to acquire citizenship:

– For a single applicant: A non-refundable contribution of USD 150,000 to the country’s Sustainable Growth Fund. For a spouse, each sibling, and any other eligible dependent, an additional USD 20,000, USD 10,000, and USD 25,000, respectively, are applicable.

– A non-refundable economic contribution of USD 175,000 for a single candidate or up to a four-person family to the Alternative Investment Option. Each sibling receives an additional USD 20,000, and any other qualifying dependent receives an additional USD 10,000.

– A real estate purchase from an authorized real estate development with a minimum investment value of USD 200,000 (resellable after seven years) or USD 400,000 (resellable after five years).

Benefits of Citizenship in St. Kitts and Nevis

Saint Kitts and Nevis Coat of ArmsOnce you are granted citizenship through the St. Kitts and Nevis citizenship program, you and your family are entitled to full citizenship for life, which can be passed down down the descendant line.

  • No personal income tax.
  • Efficient and successful international tax planning.
  • Having a passport from St. Kitts-and-Nevis.
  • Visa free travel is available to more than 100 nations, including the UK and the EU.
  • Having no restrictions on how long they can stay in St. Kitts-Nevis.
  • Dual citizenship is allowed.
  • Lifetime citizenship
  • No wealth tax or net worth tax
  • No Inheritance tax
  • Future generations qualify for citizenship by descent.
  • Citizenship is not contingent upon residency.
  • Privacy in a tiny, peaceful nation
  • With convenient flight connections to Europe and North America, St. Kitts and Nevis is a desirable destination for second property ownership.
  • On average, the application and approval procedure takes 4 to 6 months.
  • Easy application and approval process: Applicants are not required to go to St. Kitts-Nevis at any point throughout the application process, nor are they required to participate in an interview.
  • Normal corporate income tax (33%, applied on profit)
  • Free movement in the CARICOM

The St. Kitts & Nevis passport is highly recognized and has a great reputation, and the government has only issued a small number of passports as part of this citizenship by investment program. It is the least expensive investment program for global citizens to obtain second citizenship.

Saint Kitts and Nevis Country Landscape Photo

St. Kitts citizenship by investment eligibility

To qualify for second citizenship in St. Kitts and Nevis:

  • You must possess exemplary character.
  • You must have a clean criminal record.
  • You must be in top physical condition.
  • You must have a high personal net worth.

Prerequisites for second citizenship in St. Kitts and Nevis

In order to meet the requirements of the St. Kitts citizenship by investment program, all applicants must meet the following:

  • Be 18 years of age or older.
  • Do a criminal background check
  • Provide bank statements and employment references to demonstrate his or her excellent character
  • Make a qualified investment first, such as a donation to the Sustainable Growth Fund (SGF) of St. Kitts and Nevis in the amount of at least $150,000 or an approved real estate investment worth at least US$200,000.

What family members are eligible for the St. Kitts and Nevis citizenship by investment program?

The program’s extension to the main applicant’s family members, making them also eligible for the citizenship program, is a significant advantage.

The following family members qualify:

  • Spouse.
  • Children of the main applicant or the spouse, if: Aged under 18, Aged 18 to 30 and in a dependency relationship with the parent OR Aged 18 or over and physically or intellectually challenged.
  • Parents, grandparents, and spouses of the main applicant who are 55 years of age or older, residing with and being supported entirely by the primary applicant
  • Siblings or spouses of the main applicant who are under 30 years old, are not married, have no children, and rely on the applicant for financial support.

Application procedures and forms

Application forms must be handled and filed by an Authorised Local Service Provider along with the relevant supporting documentation. Application forms can be purchased from the St. Kitts-Nevis Government’s Citizenship-by-Investment Unit (CIU) for $250 each.

The application must be processed by the government, which typically takes 4 to 6 months. There is an option for an accelerated application process at an additional cost. The CIU keeps applicants informed of the progress of their applications at all times.

Each application is processed by the St. Kitts and Nevis Citizenship by Investment Unit (CIU). Additionally, there is an expedited application procedure that can be completed in 45 to 60 days. The CIU carefully reviews each application and may ask the candidate to appear for an interview, however this is rarely required.

The CIU conducts stringent due diligence investigations and will reject an application if the applicant provides misleading information or omits any crucial details. The specified government paperwork, which can only be obtained from an approved service provider, must be manually filled out by the applicant.

The program’s documentary requirements are acceptable, and the steps are simple. However, it is not a requirement for the application procedure, which typically takes between three and four months from the time the application is submitted to the CIU for approval.

The majority of applicants will often travel to the islands before deciding whether to buy real estate. The time frame for the real estate investment option may change based on the development, so it’s critical to pick a real estate venture that effectively supports the citizenship application.

The costs for the real estate investment, SGF contribution, government fees, and other costs will be released to the various parties upon approval-in-principle of the application.

Following that, the certificate of registration, which grants citizenship status, will be signed by the prime minister. After receiving the certificate of registration, the applicant may submit a passport application.

What changed in 2021?

The Covid-19 epidemic in 2021 has no impact on how well the St. Kitts and Nevis citizenship by investment scheme runs. Applications submitted online by agents are now accepted by the Citizenship section. Only at the citizenship office and with agents are application forms accessible.

By fulfilling the requirements listed below, the main applicant can now include siblings (a brother or sister) in the family application. There are some requirements:

  • Must be less than 30 years old.
  • Must be financially independent, not married, and have no children.

St. Kitts and Nevis Passport

Investors who require a second passport for travel and easy entry into numerous nations should consider the St. Kitts citizenship program. A St. Kitts passport allow visa free travel to 165 nations and territories throughout the world.

That amounts to 44.0% of the global GDP and 71.0% of the global attractiveness of travel as judged by foreign visitors.

FAQs

It costs more than $150,000 to become a citizen of St. Kitts and Nevis, which is a small non-refundable donation. Investors can invest more than $175,000 through a real estate purchase. Both choices come with a 2–6 month waiting period.
The St. Kitts and Nevis citizenship by investment program was established in 1984 and is the oldest in the world. Since then, passports have been issued to more than 20,000 applicants. Investors can choose between multiple investment options such as a $150,000 donation into the new Sustainable Growth Fund or a real estate project of at least $175,000.

It takes around four to six months to process your application and begin your passport application if you follow the usual application process. You can get your application processed and passport issued in less than sixty days if you choose the Accelerated Application Process.

This accelerated application process ensures that both the citizenship certificate and the passports will be ready in less than 60 days. The fast track cost starts at $25,000.

An approved person is a person, authorized agent, or organization who manages your Saint Kitts and Nevis citizenship program application process from beginning to end. The St Kitts government has made it clear that only accredited individuals or organizations are permitted to operate. On the St. Kitts and Nevis government website, you can find a complete list of authorized agents. Keep in mind that third party businesses that collaborate with authorized agents are also permitted to operate by law. The full list of authorized marketing agents can be found here. The full list with each individual authorized agent can be found here.
A minimum investment of $400,000 in a home or $200,000 in stock of a real estate project that has already received approval is required. The following government fees have to be taken into account: A $35,050 government application fee as well as a $7,500 main applicant due diligence fees are also required.
For as long as each candidate makes a minimum investment of $200,000, achieving a total investment of $400,000, two or more applicants may apply for citizenship by making a joint investment in a single piece of real estate. After seven years, each investor may sell the property.
You must get in touch with a qualified individual who will handle every aspect of your St. Kitts and Nevis citizenship application for you, from beginning to end.
The St. Kitts and Nevis passport is without a doubt one of the best Caribbean passports to own, ranking 55th in terms of passport power. Its holders can travel visa-free to more than 140 nations across the world and take advantage of a particularly benevolent tax system because St. Kitts and Nevis has no income, inheritance, or gift taxes.
Yes. St. Kitts and nevis recognizes dual citizenship and it does not matter if it is your second, third of 10th passport.
Individuals in St. Kitts and Nevis, whether tax or non-tax residents, are not subject to income or inheritance taxes. Residents of St. Kitts and Nevis who do not pay taxes must pay withholding taxes. 15% of the payments will be taxed at a predetermined rate. Withholding taxes aren't paid by tax residents.
Saint Kitts and Nevis do not have a national health insurance program. Children under the age of 18 and people over the age of 62 are excused from paying any medical fees, but, while they are citizens of the nation.
Basseterre, the capital of Saint Kitts, is located on the bigger and slightly more developed of the two islands, Saint Kitts. Nevis, on the other hand, is a little "wilder" and more relaxed, yet it surpasses its larger twin in terms of immaculate beaches and beautiful trekking terrain.
Yes, foreigners are allowed to purchase property in St. Kitts and Nevis. As part of the Citizenship by Investment procedure, you would need to apply for the Alien Landholding Licence or, alternatively, purchase government-preapproved real estate.
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