ST KITTS & NEVIS, even easier
The Government of St. Kitts and Nevis has a long running “Citizenship-by-investment” program attracting foreigners. This scheme is one of the oldests citizenship by investment programmes in the world. Recently, getting a St. Kitts & Nevis passport have became even easier and most attractive; it is worth to be considered, particularly now, when individuals and families are becoming increasingly mobile, and living is getting an issue to be considering more carefully. Currently, this citizenship scheme offers a cost reduction for a family of four, as well as a reduction in stamp duty (duty related to a property purchase has been reduced from 10% to 2.5%, until 15 January 2021).
Even when living in the islands is a very attractive option for those looking for a peaceful and private life style, for the purpose of getting an investor visa there is no obligation for residency if the individual does not wish to do so.
Individuals do not even need to visit St Kitts & Nevis to apply, as long as a licensed service provider in St Kitts & Nevis is used to coordinate the application. Globo Consulting can assist you in the filling of all forms and in the complete process of revision and submission of documents.
Passport holders enjoy full Schengen privileges, travelling freely in 26 European countries, and not requiring visa to visit the UK, China or Russia. A St Kitts & Nevis passport enables travel to approximately other 120 countries worldwide either without visa or with a simple visa to enter the country, that is to say this second passport allows to travel around the world far easier, and can act as an alternative “fall back” option, if you happen to need it.
In the same way, you get the ability to reside in other CARICOM countries, which includes: Antigua & Barbuda, Bahamas, Barbados, Dominica, Grenada, Jamaica, Saint Lucia, St Vincent & Grenadines, and Trinidad & Tobago.
In the mater of taxes, it is important to note that the following taxes are NOT levied in St Kitts & Nevis: personal income tax, gift tax, death duties, estate taxes, inheritance tax or capital gains tax on worldwide income.
Usually, processing time for any of the options to gain St Kitts & Nevis Economic Citizenship is approximately three months. For an additional US$ 46,000, the applicant can be fast tracked, and the passport received in approximately 45 days.
Which are the alternatives?
Investors, along with any family members, can directly qualify for citizenship through investment, either by making a donation or an investment in real estate purchase. The St Kitts & Nevis Economic Citizenship Programme offers three alternate investment ways.
Real Estate Option
Investment in an approved real estate property worth a minimum of US$ 400,000. The real estate must be held for a minimum of five years after the citizenship has been granted. The property can then be re-sold with retained citizenship rights and could be available for a new buyer to use for their application.
Luxury Real Estate
Investment in new luxury real estate worth a minimum of US$ 200,000. The real estate must be held for a minimum of seven years after the citizenship has been granted.
Contribution to Sustainable Growth Fund (SGF)
The fund will benefit St Kitts and Nevis in sustainable areas such as healthcare, education, alternative energy, heritage, infrastructure, tourism and culture, climate change and resilience, and the promotion of indigenous entrepreneurship. A single applicant can contribute US$ 150,000 to the Sustainable Growth Fund (SGF). The contribution for a family of up to four will be US$ 195,000. For additional dependants, regardless of age, the contribution requirement is US$ 10,000 per dependant. A family of four only needs to contribute US$ 150,000 (rather than US$ 195,000), until 15 January 2021.
Here at Globo Consulting we can assist you with every aspect of an application, from gathering of appropriate documentation to locating and filtering out property options.