St Kitts and Nevis is a gorgeous two-island nation that is predominated by a tropical climate. Marked by alluring waters and a bustling trade and tourism economy, the country has become a home for many influential people of late.
One of the popular reasons why citizens choose to settle down in this beautiful island paradise is due to its tax-free worldwide income. In addition to this, the country also provides dual-citizenship which acts as a boon for the investors.
Here in this blog, we will decode the best way in which an individual can obtain citizenship by investing in St Kitts and Nevis.
What Exactly Does The Citizenship by Investment Program Offer?
Established in 1984, St Kitts and Nevis is by far the oldest citizenship program in the world. Since its inception, the scheme has provided 20,000 applicants with a chance to make a substantial contribution to the economic development of the country.
What makes the program different from the rest of the countries is that it exempts investors from taking any exam to show language proficiency. Also, immigrants who wish to bring their family members along are welcomed with open arms.
All you have to do is donate to the real estate sector of the country. Applicants who receive their passports get a chance to travel to over 100 countries including the Carribean islands and Europe.
Benefits of Having St Kitts and Nevis Passport:
Like other countries in this category, St Kitts and Nevis also offer bountiful benefits to its citizens. These include:
Visa-free access to 157 countries including the EU and UK
- Citizens who are willing to do international business in St Kitts and Nevis have the right to register a company without worrying about foreign exchange control regulations.
- Residents are also exempted from paying tax on dividends, interest, and royalties.
No income or wealth tax and no residency requirementsWell-developed infrastructure, international transport links and reliable internet connectivity
Who All Can Obtain St Kitts and Nevis Citizenship?
Although St Kitts and Nevis’s citizenship scheme is open for all, there are certain guidelines that the applicants must keep in mind. These include:
- Applicants should have a minimum age of 18 years.
- There should be absolutely no criminal record against the individual.
- Investors shall show documented proof of their legal income while applying.
- Immigrants applying for citizenship must be fit without any serious health ailments.
- If by any chance you want to bring your spouse along, then he/she shall possess a clean criminal record.
- Children under 30 must be fully dependent on the applicant.
- Parents, brothers, and sisters of the applicant must be financially dependent on the investor.
Investment Options in St Kitts and Nevis:
REAL ESTATE DEVELOPMENTS: Applicants may qualify for citizenship through an investment in a pre-approved real estate project, which may include hotel shares, villas, and condominium units. The minimum real estate investment required by law is US$200,000 (resalable after 7 years) or US$400,000 (resalable after 5 years) for each main applicant.
PRIVATE HOME SALES: The sale of qualifying private homes under the Citizenship by Investment Programme will be allowed for a limited period of two years, starting November 1st 2020 and ending November 1st 2022. All homes having an appraised value of more than US$400,000 and that meet the other criteria may qualify for sale under this option.
Alternative Investment Option (AIO): The Alternative Investment Option (AIO) is the newest form of investment under the Citizenship by Investment Programme. It facilitates investment in qualified infrastructural and other projects which are developed or will be developed by Private Enterprise Developers (PEDs) and Public Good Project Developers (PGPDs).
There will be two categories of AIO:
- A Public Good Project Developer (PGPD), where the State owns the asset at the end of an agreement. These projects are fully funded by the PGPD and locked in “up front”. The minimum Unit of Investment will be US$175,000.00. All other fees will apply as per the real estate option.
- A Private Enterprise Developer (PED), where the built or funded asset is privately owned. In this option, the minimum Unit of Investment will be US$200,000.00 and standard real estate government fees will apply.
Other than restricted countries like Iran, Afghanistan, North Korea, and Cuba, St Kitts and Nevis citizenship by investment scheme is open for the rest of the world. Just make sure you have all the important documents ready before applying. Once the application is submitted there is a wait time of 3 months after which you can enjoy the citizenship status in the country.
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