Citizenship by Investment in Saint Kitts and Nevis: All you need to know

Are you looking to obtain the fastest citizenship for your investment in the Caribbean during 2020? In this article you will find comprehensive information which you need to consider about citizenship by investment in St. Kitts and Nevis.

Citizenship by Investment (CBI) immigration schemes have existed legally since the 1980s. However, they became popular only at the onset of the current decade. The global financial crisis of 2007/2008 served as a catalyst for driving demand, forcing wealthy people to contemplate Plan B.

Today, the citizenship by investment market has a turnover of 3 billion US dollars per year. The CBI industry is changing our view of citizenship. But few people know that the story with granting citizenship by investment actually roots back to the 18^th century in Scotland. An investment of 83 pounds in the Royal Bank of Scotland allowed a foreign citizen to be granted citizenship in Scotland and, accordingly, become a British citizen.

A century later, this concept was picked up by the authorities of the Caribbean country of Saint Kitts and Nevis, who started to grant citizenship by investment in 1984 – almost immediately after their Caribbean state gained independence from the Great Britain (in1983).

Since then, nearly two dozen other countries have joined the “golden passports” initiative and began to offer citizenship by investment to post-Soviet citizens and other foreigners. Their CBI schemes have helped many families and individual investors, offering them an opportunity to start a new life, providing them more mobility and freedom.  

Moreover, the Citizenship by investment program of Saint Kitts and Nevis, which celebrated its 35^th anniversary this year, is still shaping trends in the market, offering unique opportunities, attractive terms and competitive prices.

The government of Saint Kitts and Nevis has long-term plans for a citizenship by investment program, to attract foreigners who are able and willing to make a significant contribution to the development of the Caribbean country.

Investors, along with any members of their families, can directly apply for citizenship by investment, by making a non-refundable contribution, or alternatively, by investing in the real estate in Saint Kitts and Nevis.

The Caribbean country offers such investors a second passport for visa-free travel around the world. Some of the benefits of having citizenship in Saint Kitts and Nevis include tax optimization, ability to open a bank account abroad and facilitated solution to a number of other important issues. Typically, you can get a passport and citizenship by investment of the country of Saint Kitts and Nevis after 6 months from the date of investment or contribution.

Citizenship by investment in Saint Kitts and Nevis: Benefits

By choosing citizenship by investments in Saint Kitts and Nevis, a foreigner can have the following benefits:

• A visa-free regime when traveling to all countries of the Schengen zone of the EU, including Germany, France, Spain, Italy, Switzerland and Ireland. Visa-free travel also extends to other states like the UK (this advantage will remain valid after Brexit as well). 
• The opportunity to become a fiscal resident in virtually tax-free jurisdiction: there is no income tax for residents; nor a wealth tax is levied in the country, while the rates of several other state duties and charges are significantly lower. By means of citizenship in St. Kitts and Nevis through investments, businesses can benefit from optimized tax mechanisms to complement their existing tax planning strategies.
• It will take no more than 1.5 months to obtain passport and citizenship by investment in St. Kitts and Nevis investments, if you agree to pay a small surcharge for expedited processing of the application. Otherwise, normally, the application is processed within a period of up to three-four months.
• An additional source of passive income: it is possible to apply for citizenship by investing in real estate in Saint Kitts and Nevis. After purchase of real estate property, you can start renting it out for short or long term immediately after purchase.
• Citizenship by investment of Saint Kitts and Nevis is issued on a lifelong basis. Moreover, together with the principal investor, Caribbean passports can be granted to the latter’s dependents who are included in the collective application. If you wish to expedite and facilitate the process of application for a second passport and citizenship by investments for your family members, a relatively small surcharge will be required.
• By issuing a passport and citizenship by investments in this small, peaceful and politically neutral country, you can be sure to sustain your financial standing, and enjoy solid protection of your assets. You will also have an opportunity to register companies and assets with a second passport to protect your tangible assets. 
• To obtain citizenship by investment in Saint Kitts and Nevis, it is not required to make a personal visit to the country. Also, after obtaining economic citizenship, you will not need to settle in or make regular visits to the country.
• The Saint Kitts and Nevis passport issued to the investor is valid for 10 years and may subsequently be renewed. Owing to the country’s excellent reputation, the passport of Saint Kitts and Nevis is a highly respected document in other countries. Moreover, the Citizenship by investment program of Saint Kitts and Nevis is one of the most affordable in the world, requiring investments starting as low as 150 thousand US dollars.

Citizenship by investment in Saint Kitts and Nevis: Key requirements for the applicant

To be eligible for citizenship by investment, the principal applicant must fulfill the following general requirements:  

• Must be over 18 years old;
• Should not have a criminal record;
• As an investor, the applicant will have to go through appropriate security checks conducted by the following parties: immigration agent, an independent commercial company, and the government of the host country;
• It will be necessary to validate the legality of the sources of funds that are planned to be used to obtain citizenship by investments of Saint Kitts and Nevis;
• The applicant must be in good health;

If you consider filing a collective application for citizenship by investment of Saint Kitts and Nevis, it should be noted that the following dependents of the principal investor are qualified for passports of the Caribbean country:

• Applicant’s spouse;
• Children under the age of 25;
• Parents older than 55;

Children over 18 years of age, as well as parents should be positioned as the principal applicant’s dependents. At the same time, all dependents will have to undergo the same comprehensive reliability checks (due diligence) that are envisaged for the principal investor.

It should also be borne in mind that difficulties may arise with the transfer of citizenship to representatives of future generations.

Citizenship by investment in Saint Kitts and Nevis: How much will it cost?

The following two financial options are currently available for applicants who wish to receive a “golden passport” from this Caribbean country:

• Irrevocable, non-refundable contribution to the Sustainable Growth Fund (SGF)
• Recoverable investment in St. Kitts and Nevis real estate, which can be withdrawn in 5-7 years.

Citizenship by investment in Saint Kitts and Nevis: Expediency

Investors can accelerate the processing of their applications by opting for AAP (Accelerated Application Process). It should be considered, however, that this service will require extra charges. Typically, applications under the AAP are processed within 45-60 days. 

The AAP accelerated application processing was approved by the government of Saint Kitts and Nevis in October 2016. This procedure, however, does not envisage that applicants could bypass all the required criteria, nor will they be waived from the requirement to submit the necessary supporting documents when applying for citizenship by investments. 

The amounts payable for using the AAP process (including due diligence fees) are as follows:

• Principal applicant: US $ 25,000;
• Dependents over the age of 16: US $ 20,000 per person;
• Any dependents under the age of 16: US $ 500.00 per person.

Due to the excessive time required to complete legal processing of applications and due diligence procedures, citizens of the following countries are not eligible to participate in the AAP scheme:

• Republic of Iraq;
• Republic of Yemen;
• Federal Republic of Nigeria.

Citizenship by investment in Saint Kitts and Nevis: State Fund Contribution

St. Kitts authorities launched the new Sustainable Growth Fund (SGF) recently. Corresponding amendments to the immigration law of the Caribbean country entered into force on April 1, 2018. 

The fund is designated for financing various areas of St. Kitts and Nevis economy, in particular: health, education, alternative energy, preservation of historical and cultural heritage, infrastructure, tourism and culture, counteracting the effects of climate change and ensuring sustainability, as well as promoting entrepreneurship among indigenous peoples.

Citizenship by investment in Saint Kitts and Nevis: Passport and Citizenship for Real Estate

Individuals applying for citizenship for real estate in Saint Kitts and Nevis are allowed to make reimbursable investments, but at the same time they have to overpay, because the minimum required investment is 50,000 US dollars higher than in the case of a contribution to SGF. Plus, you will need to face the payment cost associated with the purchase and other fees (see above).

Nevertheless, the recoverable nature of such an investment, as well as the ability to lease the property of Saint Kitts and Nevis immediately after obtaining citizenship, compensate for this shortcoming.

In addition, a fairly wide range of development projects approved by the authorities is offered to investors to choose from. According to information from official sources, in total, there are currently 96 development projects of this nature. A full list of approved facilities property presented in the table below:

It is very reassuring to learn about wide range of approved development projects, in which you can invest in registering citizenship for real estate in St. Kitts and Nevis. Nevertheless, you need to carefully select the object for investment in order to avoid problems in the future.

Citizenship by investment in Saint Kitts and Nevis: Concluding summary

Citizenship by investment Saint Kitts and Nevis is a popular immigration product that has attracted the attention of many citizens from post-Soviet countries and other foreigners. Hence, given the popularity of this product, numerous scammers are trying to use the same product for illegal purposes. Therefore, extra caution is recommended to avoid falling prey to unconscientious service providers.

If you wish to safeguard yourself and your finances from possible fraudulent schemes, we recommend using our services, provided by professionals who are many years on the market. They will provide you with full support at all stages, starting from the first consultation to obtaining new passports for you and your dependents.

Want a personalized cost calculation? Our experts will calculate the cost of obtaining St. Kitts and Nevis passports for all members of your family, including appropriate investments and administrative fees.

You may also wish to request  additional services, including registration of a tax residence, registration of an address in a Caribbean country, registration of a social security card and a local SIM card, a driver’s license, and so on.

To get additional information about the Citizenship by investment Program Saint Kitts and Nevis first-hand and obtain a passport for this country, we recommend that you seek help directly from the best and most experienced English and Russian-speaking consultants. Please note that we work without intermediaries and are among the leaders in the number of processed orders. Aim your queries to address [email protected].

We are trying to keep our articles informative, interesting and to-date. Please do let us know of further subjects, topics for discussion, and we will by all means consider them in our forthcoming articles.