In this post, the Astons experts answer the most popular questions about the Citizenship by Investment program of St Kitts and Nevis and explain why you should obtain a powerful passport from this Caribbean state.
I’ve been thinking of a second passport and I heard a lot of good things about the Caribbean region – St Kitts and Nevis in particular. What are the benefits of this country?
Indeed, the Caribbean countries have gained popularity among individuals seeking a second or third citizenship. This region’s investment programmes have a lot of benefits: visa-free entry to the EU and the UK, relaxed taxation, the opportunity to obtain a passport quickly and confidentially, and an attractive minimum investment.
The passport of St Kitts and Nevis is an optimal solution for affluent individuals looking for a ‘plan B’. Being a citizen of this country, you can enter 152 countries without a visa, including the EU and the UK. At that, the minimum investment for the main applicant – and their family of up to four members – is just $150,000.
Given these perfect conditions, many people have already become citizens of this country, haven’t they?
Yes. The Citizenship by Investment programme of St Kitts and Nevis has functioned since 1984. In fact, this Caribbean state was the first to introduce a system of acquiring passports through investment.
During this time, the streamlined and well-reputed immigration programme has achieved global recognition: 10,000 HNWIs from all over the world obtained a passport of St Kitts and Nevis. In practice, it means that every fifth citizen of this country is an investment migrant.
Sounds great. Where and how much should I invest to get citizenship?
You may choose between two options, each one having its benefits:
1. You can make a donation of $150,000 to the state fund
2. You can purchase property in St Kitts and Nevis for $200,000–400,000.
Any property for purchase should be approved by the government – this rule protects investor interests. You can sell the property in 5–7 years, and this won’t affect your acquired citizenship.
What kind of property do they buy there?
Most often, foreign investors purchase luxury seaside resorts, hotels and villas. Experts in investment migration report that St Kitts and Nevis property can be a very lucrative investment. This Caribbean state is in the top 3 most attractive tourist destinations globally.
Suppose I’m ready to invest into property. What’s the deal with the broad range of minimum investment: $200 to 400K?
The conditions of St Kitts and Nevis programme are very flexible so you can choose the best fitting option.
1. You invest $200,000 and become a co-owner. In this case, the property is purchased by two (or more) main applicants who become co-owners with equal rights. The minimum term for such investment is seven years. This option is popular with investors who are willing to buy property shared by two families.
2. You invest $400,000 and purchase property as the sole proprietor. In this case, you can return the investment in five years.
Will I have to travel to the country to choose the property and sign the deal?
No, you do don’t have to go to St Kitts and Nevis. Astons immigration experts will help you arrange everything remotely. However, if you’d like to come, see and choose the villas and hotels, you are welcome to do so.
I see. What if I decide to invest into the state fund? This donation is non-reimbursable, right?
That’s right. The minimum investment into the state fund of St Kitts and Nevis is $150,000.
Considering the pandemic situation, the government of St Kitts and Nevis met the investors halfway and allowed them to add up to four family members to the application – without any extra charge. Now the sum of donation required to obtain passports of St Kitts and Nevis for the entire family is $150,000 – same as for one applicant.
It’s a very favourable discount. Previously, the non-reimbursable donation for a married couple amounted to $175,000. A family of four would pay $195,000.
You can take advantage of the current discount till the end of 2020. Every extra dependent (beyond a family of four) will be charged at just $10,000.
So I can obtain citizenship for my entire family. Correct?
Absolutely. You can acquire citizenship of St Kitts and Nevis for your most extended family — not only your spouse and dependent children under 30 years old, but also parents and grandparents (older than 55 years old).
Great. How long is the passport processed?
You can arrange the passport very fast. On express document application, you’ll obtain the citizenship of St Kitts and Nevis in 45–60 days.
Will I have to come to the country to retrieve the passport?
No. The passports for yourself and the family will be processed remotely. You don’t have to visit St Kitts and Nevis either before or after obtaining citizenship. Also, there are no exams or interviews involved.
What are the country’s requirements for passport candidates?
The requirements are very simple:
1. You have to be of age (older than 18)
2. You need to have a clean criminal record and no ongoing prosecution against you.
Suppose I decided to apply for the passport. How do I start and how does the entire process work?
1. You contact an investment migration specialist and choose the best fitting option together. You can only apply for passport through a certified agency. The Astons lawyers will help you get the passport of St Kitts and Nevis quickly, easily and with the guaranteed result.
2. You collect all required documents. Our lawyers will help you prepare and check them.
3. After all the documents have been checked and the application properly formed, it will be submitted to the government of St Kitts and Nevis.
4. After your application has been reviewed, you’ll get a preliminary approval in writing.
5. After your application has been approved, you make the investment – in the state fund or property.
6. You get a certificate of citizenship and then the passport itself.
Sounds easy. What about taxes? I’ve got my own business and I need to understand further prospects.
St Kitts and Nevis has an attractive and transparent taxation regime. There are no taxes on global incomes, dividends, wealth or inheritance.
What if I’d like to visit St Kitts and Nevis or even relocate there for a while after I get the passport? Does it make sense?
Sure, it’s a beautiful country comprised of two islands with a favourable climate. Many new citizens come there for a vacation enjoying utmost comfort and tranquility. There is no rainy season there. One third of the territory hosts a national reserve.
You’ll find all sorts of entertainment in St Kitts and Nevis. You can relax on a sandy beach, try local cocktails in seashore bars, explore an extinct volcano or go diving and enjoy the coral reefs. The locals love picturesque carnivals and would be happy if you join them in their festivities.
Also, they have a delicious cuisine – a mix of continental, Creole, Mediterranean, French, Indian and even Chinese gastronomic traditions. In any local restaurant they’ll treat you to fresh crab and lobster, high-quality meat and tropical fruit. If you prefer exotic dishes, try the local ‘pelau’ paella made or rice, peas, seafood and pigeon meat.
I don’t know much about this country. What language do they speak there?
The official language of St Kitts and Nevis is English. The country is a member of the British Commonwealth. The head of state is Queen Elizabeth II represented on the islands by the Governor-General.
Most importantly, you can rely on the Astons experts and our reputation to guide you through the entire immigration process and help you quickly obtain the passport of St Kitts and Nevis. The citizenship of this Caribbean state will help you discover the freedom of global movement – whatever the circumstances.
Astons is a leading global immigration advisory firm with offices worldwide. We offer residency & citizenship investment solutions in Europe and the Caribbean. For further information or to discuss your personal circumstances in a private consultation, please contact Astons at [email protected].
