Jan 28, 2020

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 18th 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 35th 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.
Contribution to SGF Investment in real estate in Saint Kitts and Nevis
Applicants can apply for Caribbean citizenship through a contribution to the Sustainable Growth Fund (SGF) by paying the minimum required amount.

 

So, if only one principal applicant applies for citizenship, then a non-refundable contribution of $ 150,000 will be required.

 

If passports are issued by the main applicant with three dependents (for example, a spouse and two children), then a non-refundable contribution of US $ 195,000 will be required. For additional dependents, regardless of age, additional $ 10,000 contribution will be required for each dependent.

 

When filing an application, non-refundable due diligence fees must also be paid. These fees amount to $ 7,500 for the principal applicant and $ 4,000 for each dependent of the principal applicant who has reached the age of 16.

 

Applicants can apply for citizenship by making investments in development projects pre- approved by the state’s authorities. Projects may include hotels, villas and condominiums.

The minimum investment in Saint Kitts and Nevis real estate for citizenship, as required by law, is $ 200,000 (resale option will be available after 7 years; applications should be submitted by a group of two or more applicants) or $ 400,000 (resale option will be available after 5 years) for each principal applicant.

Non- refundable verification and processing fees must also be paid along with application. These fees amount to $ 7,500 for the principal applicant and $ 4,000 for each dependent of the principal applicant over 16 years of age.

Upon receipt of principal approval by the authorities regarding an application filed in order to obtain citizenship by investments in real estate in Saint Kitts and Nevis, a state fee is charged in the following amount:

• Principal applicant: US $ 35,050;

• Spouse of the principal applicant: US $ 20,050;

• Any other dependent of the principal applicant, regardless of age: US $ 10,050.

In addition to these fees, property buyers should be aware of the costs of the purchase (mainly contributions to the compulsory insurance fund and transportation costs).

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:

Title of approved development project Location of approved development project
Development project Beach & Golf Residence Ltd The territory of St. Kitts island  
Development project Beacon Heights The territory of St. Kitts island  
Development project Beaumont Park The territory of St. Kitts island  
Development project Belmont Gardens The territory of Nevis island  
Development project Botanical Gardens The territory of Nevis island  
Development project Brimstone Village The territory of St. Kitts island  
Development project Busch Hill Gardens The territory of Nevis island  
Development project Butlers Estate Resort Residences The territory of Nevis island  
Development project Calypso Bay The territory of St. Kitts island 
Development project Caribbean Galaxy Real Estate Corporation The territory of St. Kitts island 
Development project Caribbean Scenic Resort The territory of St. Kitts island  
Development project Carino Hamilton Estate The territory of Nevis island  
Development project Castle Bay Villas The territory of Nevis island  
Development project Central Park Estates The territory of St. Kitts island 
Development project Christophe Harbor The territory of St. Kitts island 
Development project Christophe Harbor – Range Development (Park Hyatt) The territory of St. Kitts island 
Development project Christophe Harbor – Windswept Residence Club The territory of St. Kitts island 
Development project Clay Villa Condominium Development The territory of St. Kitts island  
Development Project Cliff Dwellers The territory of Nevis island  
Development project Clifton Gardens The territory of Nevis island  
Development project Coast to Coast Development The territory of St. Kitts island 
Development project Dove Properties Ltd The territory of St. Kitts island 
Development project ERA Development The territory of St. Kitts island 
Development project Fern Hill Villa Development The territory of Nevis island  
Development Project Fisherman’s Cabanas Ltd The territory of Nevis island  
Development project Fort Ashby Beach Club The territory of Nevis island  
Development project Four Seasons Resort Estates The territory of Nevis island  
Development project Golden Rise Villas and Spa The territory of Nevis island  
Development project Golden Rock Commercial Park The territory of St. Kitts island 
Development project Golf View The territory of St. Kitts island 
Development project Half Moon Bay Villas The territory of St. Kitts island 
Development project Hamilton Villas and Spa The territory of Nevis island  
Development project Heritage Plantation Hotel (DBA Scotch Bonnet Condominiums) The territory of St. Kitts island  
Development project Hermitage Hotel The territory of Nevis island  
Hillsboro Sunset Suites Development Project The territory of St. Kitts island 
Development project Horizon Villa The territory of St. Kitts island 
Development project HTRIP Candy Resort The territory of Nevis island 
Development project Jones Estate Villas The territory of Nevis island 
Development project King’s Pavilion Hotels The territory of St. Kitts island  
Kingfisher Club Development Project The territory of Nevis island  
Development project Kittitian Hill The territory of St. Kitts island  
Development project Kittovation Ltd The territory of St. Kitts island  
Development project Koi Resort and Residences The territory of St. Kitts island  
Development project Leeward Cove The territory of St. Kitts island  
Development project Live Nevis The territory of Nevis island  
Development project Live Nevis Life Ltd The territory of Nevis island  
Development project Majestic Gardens Condominium Developments The territory of St. Kitts island 
Development project Manor By The Sea The territory of St. Kitts island 
Development project Marriott Hotel The territory of St. Kitts island 
Development project Marriott Residences The territory of St. Kitts island 
Development project Montebello Residences The territory of St. Kitts island  
Montpelier Plantation Inn Development Project The territory of Nevis island 
Development project Mount Nevis Hotel The territory of Nevis island 
Development project Nelsons Spring Beach Villa and Spa The territory of Nevis island 
Development project Nevisian Sunset Condominiums The territory of Nevis island 
Development project Oasis Resorts & Spa The territory of Nevis island  
Development Project Ocean Grove The territory of St. Kitts island 
Development Project Ocean Terrace Inn Condominiums The territory of St. Kitts island 
Development project Ocean’s Edge The territory of St. Kitts island 
Development Project Oray’s Development The territory of St. Kitts island 
Development Project Paradise Palms Ltd The territory of Nevis island  
Pelican Bay Development Project (Embassy Suites by Hilton St. Kitts) The territory of St. Kitts island  
Development Project Pinney’s Hotel Development Ltd The territory of Nevis island  
Development project Pirate ‘ s Nest ( T – Loft ) The territory of St. Kitts island 
Development project Port Zante The territory of St. Kitts island 
Development Project Prime Developments Ltd The territory of St. Kitts island 
Development project Ramada Hotels The territory of St. Kitts island 
Development Project Range Developments (La Valle) – Six Senses St. Kitts The territory of St. Kitts island 
Development project Rendezvous Hills Limited The territory of St. Kitts island 
Development project Rivere House Cottages Development The territory of Nevis island 
Royal Gateway Estate Development Project The territory of Nevis island 
Development project Royal Golf Estates The territory of St. Kitts island 
Development project Royal St. Kitts Beach Resort Limited The territory of St. Kitts island 
Development project Royal St. Kitts Hotel’s Vacation for Life Condominium The territory of St. Kitts island 
Development project Sea Lofts The territory of St. Kitts island 
Development project Seaview Gardens The territory of St. Kitts island 
Development project Seavista Development The territory of St. Kitts island 
Development project Selsoleil The territory of St. Kitts island 
Development project Serenity Palms Condominium Development The territory of Nevis island  
Development Project (Silver Ocean Limited) Ottleys Plantation Inn The territory of St. Kitts island 
Development project Silver Reef The territory of St. Kitts island 
Development project Spring Aire Resort The territory of Nevis island  
Development project St Christopher Club The territory of St. Kitts island 
Development project in St . Kitts castle The territory of St. Kitts island 
Development Project Starboard House The territory of St. Kitts island 
Development project Sundance Ridge (Peninsular Associates) The territory of St. Kitts island 
Development project Sunrise Hill Villas The territory of St. Kitts island  
Development project Sunset Heights Condominiums The territory of Nevis island  
Development project SV Condos Ltd 2014 The territory of St. Kitts island  
Development Project Tamarind Cove Marina Development Ltd The territory of Nevis island  
Development project The North Wing (St. Kitts Marriott Resort Beach Casino) The territory of St. Kitts island  
Development project Turquoise Waterfront Condominiums Development The territory of Nevis island  
Development project University Gardens Condominiums The territory of St. Kitts island  
Development project Victoria Gardens Resort The territory of Nevis island  
Development project Vista Villas Inc The territory of St. Kitts island  
Development project Zenith Nevis Alpha Condominium The territory of Nevis island  

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.