Citizenship by investment: St. Kitts and Nevis
The second citizenship in St. Kitts and Nevis: a comfortable way
The Federation of Saint Kitts and Nevis is a small Caribbean state with a warm climate, small territory and population, but with broad opportunities. This state is one of those, which allow you to get the second passport through investment, and thereby – to acquire the new level of freedom and independence.
The smallest state of the Western hemisphere offers to everybody a warm weather, tender sea, white beaches and luxury estates, and, of course, an opportunity to obtain the second citizenship.
It is worth to mention that the citizenship by investment program of St. Kitts and Nevis is rather old and the most respectable in the region. For more than 30 years, wealthy customers are able to invest a definite sum into this state’s economy and to become its citizens. The price grew over the years, but the new opportunities appeared, and today St. Kitts and Nevis is an excellent way not only to get the passport, but also to acquire a resort real estate of high quality, which may be used either for one’s own pleasure or for investment purposes.
What are the benefits of St. Kitts and Nevis passport?
Firstly, you will not have to abandon your current citizenship after getting the second passport. The local authorities will not inform the country of your current citizenship about the fact of issuance of your second passport.
The second passport opens the borders of more than 120 countries including Schengen area for visa-free travel. It makes this passport an excellent instrument for travelling worldwide.
Besides this, the citizens of St. Kitts and Nevis can more simply open bank accounts abroad and visit the countries of the British Commonwealth, including the United Kingdom.
How to get citizenship in St. Kitts and Nevis
St. Kitts and Nevis offers two options for getting the second passport: non-refundable investment into the Sugar Industry Diversification Foundation or acquisition of immovable property. Each option has its special characteristics that will be considered further.
The classic option, which prevailed many years, is investment to the Sugar Industry Diversification Foundation. Back in the day, sugar was a significant part of the country’s export income, however in course of time the situation changed and it became necessary to diversify the economy. For this purpose, the country began to attract foreign investments.
By investment an amount of USD 250 000 into the Foundation, you will become a citizen of St. Kitts and Nevis. 250 000 US dollars is a price for one person. If you wish to obtain citizenship not only for yourself but also for your family, you can invest USD 300 000, and the second passport will be issued for you and three your dependents (e.g. your spouse and two children).
If you have a big family, your investment for USD 350 000 will enable 6 persons (the applicant and 5 dependents) to get the second passport. To do this for 8 persons (the applicant and 7 dependents) you will need to invest USD 450 000. If the number of the applicant’s dependents exceeds 7 persons, you will have to pay extra USD 50 000 for each such dependent. You also will have to pay extra USD 50 000 for each dependent older than 18 years, with exception to your spouse.
All state fees (except the cost of due diligence check) are included into this price.
As regards to real property, the situation is quite different. The minimal contribution here is USD 400 000. Besides this, you will have to pay all state fees: 50 000 for the applicant; 25 000 for the applicant’s spouse; 25 000 for a child younger than 18 years; 50 000 for dependents older than 18 years, except the spouse.
However, unlike the contribution into the Foundation, the immovable property may later be sold. According to the program, the applicant (the citizen) must own the real property for 5 years and then may dispose it at his own discretion: either to keep the ownership or to sell it to a new applicant for citizenship.
Besides the possibility to refund one’s investment, the immovable property option allows joint acquisition of high-priced real property items. In this case each investor’s contribution must exceed 400 000 US dollars.
It is important to note that before acquisition of real property or making a contribution to Sugar Industry Diversification Foundation the applicant will have to file an application and go through the compulsory personal due diligence check. This is an extra expenditure item, which the applicant bears irrespective to chosen investment option: USD 7500 for the applicant and USD 4500 for the dependents (older than 16 years).
For all questions related to St. Kitts and Nevis citizenship by investment program, please contact our specialists.