Read on as the investment migration experts at Astons elaborate on the Government Approved Citizenship by Investment programme of St Kitts and Nevis and explain why you should apply for a passport of this Caribbean country without delay.
I’ve been thinking of a Caribbean passport for a while. Citizenship of St Kitts and Nevis, in particular. Judging by the ratings, it’s a really ‘powerful’ passport, isn’t it?
Yes. The immigration programme of St Kitts and Nevis launched in 1984 has gained an impeccable reputation. This oldest programme for foreign investors has attracted a host of HNWIs from all over the world. In fact, every fifth holder of a St Kitts and Nevis passport is a foreign investor.
Citizenship of St Kitts and Nevis allows you to cross borders of 152 countries without a visa, including the EU and the UK. This is an invaluable opportunity in the pandemic times when governments restrict entry to their respective countries. With a passport of this Caribbean state, you’ll stick to your personal and business plans whatever the circumstances.
It’s worth noting that citizenship of St Kitts and Nevis facilitates the processing of long-term (10-year) visas to the US and Canada.
Sounds like a great chance. How long will I be able to stay in Europe and the UK with a St Kitts and Nevis passport?
The citizenship of St Kitts and Nevis allows you to remain in the European countries for 30–180 days based on your destination.
As for the UK, you’ll be able to stay in the UK for 180 days per year. You won’t have to procure any additional documents since St Kitts and Nevis is a member of the British Commonwealth.
It fits my goals. Where and how much should I invest to obtain a passport of St Kitts and Nevis?
For the St Kitts & Nevis citizenship by investment program, you can choose one of the two options:
- Make a non-refundable donation of $150,000 to the National Economic Fund.
- Buy a St Kitts & Nevis property approved by the authorities at the cost of $200,000–$400,000. You can exit the investment in 5–7 years.
Immigration analysts recommend you apply for the passport of St Kitts and Nevis by the end of November 2020 as the minimum investment within the St Kitts and Nevis programme may rise.
I see, thanks. I am more interested in property: I’d like to buy a house by the sea.
Members of St Kitts and Nevis immigration programme purchase premium seaside villas, resorts and hotels (or hotel rooms) at $200,000–$400,000.
You can invest in property starting at $200,000 and become a shared proprietor: villas in St Kitts and Nevis are often bought by two families.
The other option is to buy property at the minimum cost of $400,000 and become a sole proprietor.
By purchasing property from $400,000, you can exit the investment in five years (seven years in case of the $200,000 property). Naturally, selling the property will not affect your obtained passport.
If I rent out resort property, will I make any profit?
Yes. Buying property in St Kitts and Nevis, you can count on annual revenue of 2-3%. As foreign investors opt for hotels, villas and resorts on the coast, the demand for property rentals remains stable.
Will the crisis impact the situation?
Even during the crisis, pragmatic investors buy property in the Caribbean region anticipating good revenues.
Based on expert estimates, resort and hotel owners in St Kitts and Nevis expect recovery of the tourist industry which will further boost the real estate market. During the high season in St Kitts and Nevis – from December to April – villas of several bedrooms are rented out for $2,000–$3,000 per week.
Can I obtain citizenship of St Kitts and Nevis for the whole family?
Yes. You can obtain the passport of this Caribbean country not only for yourself but also for your spouse, financially dependent children under 30 years old, parents and grandparents over 55 years old.
In the course of the pandemic and global crisis, the authorities of St Kitts and Nevis have met foreign investors halfway and allowed them to add three family members to the application at no cost.
If you apply for citizenship of St Kitts and Nevis until the end of 2020, a donation for a family of four (the main applicant and three family members) will amount to $150,000 – the same sum as for a single applicant. Previously, the donation for a family of four would be $195,000.
Also, brothers and sisters of the main applicant and their spouse can be added to the St Kitts and Nevis citizenship application if the following conditions are met by the sibling:
- Under 30 years old
- Single
- No children
- Financially dependent on the investor.
According to the new rules of St Kitts and Nevis Citizenship by Investment programme, citizenship can be obtained by the investor, their spouse, financially dependent children under 30 years old, parents, grandparents over 55 years old, as well as financially dependent, unmarried siblings under 30 years old.
Please note that the government of St Kitts and Nevis offers significant discounts to foreign investors. At this point, you can obtain passports for a family of four by investing just $150,000 (previously $195,000).
In all honesty, does it make sense to apply for a second citizenship now? We are in the middle of a crisis, everything is changing rapidly…
On the contrary – now is the perfect time to obtain an investment citizenship. A second passport will make you less dependent on the geopolitical situation.
The global crisis encouraged greater demand for investment migration. According to the specialists, in the first half of 2020 the number of applications within investor migration programmes grew by 25%.
As for specific choice of country, citizenship of St Kitts and Nevis is the most demanded this year. This passport ranks even higher than other Caribbean passports in independent ratings, and the other Caribbean states are among the global market leaders.
Okay, I think I should do it. How long does it take to get a passport of St Kitts and Nevis?
You will obtain the passport in 2–3 months. There is an express processing method available. Under this scenario, you will become a holder of St Kitts and Nevis passport in just 45–60 days.
Will I have to go there?
No. With the aid of Astons lawyers, you’ll be able to obtain the passport of St Kitts and Nevis remotely.
According to the immigration programme of this Caribbean country, you can apply for a passport only through an authorised immigration company. Astons’ experienced specialists will help you prepare the documents, submit an application correctly and obtain citizenship of St Kitts and Nevis with the guaranteed result.
Hand in hand with the Astons experts, you’ll go through the entire immigration process 100% remotely, including property selection and purchase under lucrative conditions.
On the other hand, I’d like to take a rest and I’ve been looking for an option suitable for remote work…
In this case, a villa or hotel in St Kitts and Nevis may be just the right option as a ‘tropical office’. You will not only relax in comfortable conditions, but also recharge your batteries living by the sea in a perfect climate, sunbathing and enjoying white sand beaches, ecological products and jungle hikes.
Sounds great! By the way, what about taxes in St Kitts and Nevis?
The passport of St Kitts and Nevis allows for significant taxation benefits: there are no taxes on global income, dividends, wealth or inheritance. Once you become a citizen of this Caribbean country, you’ll be able to open accounts in European banks and rest assured that your capitals are safe.
Astons lawyers and consultants who specialise in real estate and investment migration will help you obtain the passport of St Kitts and Nevis successfully. Due to meticulous and manifold document checks on our side, 100% of Astons clients obtain their second citizenships.
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].
