Saint Kitts and Nevis citizenship by investment (CBI) program is the oldest one on the market. It was launched in 1984 and, obviously, its rules and requirements have changed since then. In this article, we’ll cover the latest changes in the program implemented in 2018.
In April 2018, the government of St.Kitts and Nevis has launched a new fund called the Sustainable Growth Fund. Its aim is to attract foreign investments and distribute the funds to different sectors (economy, education, medicine, etc.). By investing a certain amount of money into this fund any investor can apply for the country’s citizenship.
The minimum investment for a single applicant is $150,000, and for a family up to 4 people – $195,000. This type of investment is non-refundable. Plus each investor should pay some additional fees.
Apart from an investment in the fund, Saint Kitts and Nevis has another investment option: purchase of a certain real estate object. The scheme here is the same. If you invest in a pre-approved real estate, you will be able to become a citizen in about 3-6 months.
The real estate option also has been modified a little in 2018. Previously, the minimum investment amount was $400,000, while now it’s possible to divide the sum equally between 2 investors, making it $200,000.
Important note! By participating in the citizenship by investment program via real estate option, you agree to keep your investment for at least 5 years (if you invest $400,000) and 7 years (if you invest $200,000).
The amount of real estate investment won’t change if you decide to include your family members (spouse, kids, parents) in the application. However, you’ll be asked to pay government fees for each additional person in that case.
Note! On January 8, 2018, the government fees have been reduced for those who invest in real estate. So, if you purchase a real estate object on St.Kitts and Nevis and decide to obtain its citizenship together with your family (spouse and 2 kids), you’ll pay 50% fewer government fees than it used to be.
The best real estate options at the moment are Park Hyatt St. Kitts, Four Seasons Nevis and Kittitian Hill. These projects can bring annual income from 4.5% to 5.3%.
Caribbean citizenship: What other countries have CBI programs?
Such Caribbean countries as Antigua and Barbuda, St.Lucia, Dominica and Grenada also have CBI programs. In terms of cost, Dominica and St.Lucia offer the lowest price for a single applicant, around $110,000 and $113,000 respectively, including additional fees. While Antigua and Barbuda offers the best price for an investor with family (spouse and 2 kids) — almost $146,000 (fees included). Note! The investment amount in these cases can’t be returned as it’s a donation to the fund.
Why is St.Kitts and Nevis CBI program so popular?
Apart from it being the oldest one, the program was named the best one at the ceremony Global Citizen in 2017. Also, St.Kitts and Nevis passport is quite powerful, it holds the 21st position in the Passport Index with 134 visa-free countries. According to the CSDS data, St.Kitts and Nevis holds the second position among other Caribbean countries on ease of obtaining type B visas to the US.
What does a Saint Kitts and Nevis passport have to offer?
- Saint Kitts and Nevis passport is your visa-free entrance into over 134 countries, including the Schengen Area countries, the UK, South Korea, Hong Kong, virtually all South American countries, among others. Saint Kitts and Nevis passport holders are allowed to stay in Europe up to 90 days within a 6-month period, and up to 180 days per year in the UK.
- Saint Kitts and Nevis passport means no world income or inheritance tax.
- It is possible to obtain the passport in a remote mode. The citizenship is processed exclusively through a licensed, government-approved agent.
- Saint Kitts and Nevis officially recognizes double citizenship. All the information is strictly confidential and is not disclosed to third parties.
- This is an opportunity to obtain long-term visas to the US and Canada.
- The investment is transferred only after the government approves the application. The transaction is fully transparent.
- Together with the main applicant, their spouse, children under 30 years of age and parents aged 55 and above may also apply. The children born after the parents obtain their citizenships become Saint Kitts and Nevis citizens free of charge.
- The citizenship is issued for a lifetime. There are no requirements for knowing the language or staying in the country. The passports are valid for 10 years for adults and 5 years for children. It takes about a week to renew it and it is not necessary to come to the country for that.
In conclusion, we would like to say that the country welcomed over 11,000 new citizens from 127 countries via the CBI program within 10 years (2005-2015).
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