The 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.
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
Candidates 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
Once 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.
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:
- 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.
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.