St. Kitts and Nevis are strategically located in the eastern Caribbean Sea. It is home to beautiful mountain ridges, magnificent beaches, and a booming economy. This is why many people are interested in living in this sanctuary.
Luckily, there are several investment options available in St. Kitts and Nevis that can help you achieve citizenship. In this article, you will know about the different investment options in St. Kitts and Nevis and its benefits.
St. Kitts and Nevis Citizenship by Investment Program
There are two ways you can obtain a St. Kitts and Nevis citizenship through their citizenship by investment program – by contributing to the Sustainable Growth Fund or by investing in one of their government-approved real estate properties.
Each one is designed to help contribute to the country’s further growth and development while providing their investors with the perks of having a St. Kitts and Nevis passport.
Learn more about the different investment options you can consider in St. Kitts and Nevis below.
Sustainable Growth Fund Contribution
In March 2018, St. Kitts and Nevis Prime Minister Timothy Harris introduced the Sustainable Growth fund to encourage investors to funnel money into the country. It is also among the quickest and easiest ways of getting St. Kitts and Nevis citizenship.
The money put into the SGF is directly put into a government-held fund for the prospering small-island nation’s on-going advancements. This option is considered the more straightforward and convenient way of obtaining St. Kitts and Nevis citizenship.
It offers the benefit of both obtaining citizenship in this beautiful Caribbean island country and contributing to its continued growth and development.
To begin an application for this investment, the applicant must make a contribution as a single applicant or an applicant with dependents. If you are applying as a single applicant, a minimum contribution of $150,000 USD is required.
On the other hand, if you are applying as a family of four (main applicant with up to 3 dependents), the minimum contribution required is $195,000 USD. You can also add additional dependents regardless of their age for an additional contribution of $10,000 USD per person.
Take note that during the application process, the contributions made are non-refundable. Applicants will also need to pay for processing and due diligence fees, which cost $7,500 USD for the main applicant and $4,000 per dependent above the age of 16 years old.
Real Estate Investment
Another investment option that can help you achieve St. Kitts and Nevis Citizenship is through real estate investment. This is slightly more complex than the previous method as you will need to invest in government-approved real estate properties. However, it’s still a great way to obtain St. Kitts and Nevis citizenship while helping the country prosper.
To apply for this, applicants must make a minimum real estate investment for pre-approved real estate projects. The minimum investment required by law is $200,000 USD
Once the investment is made, the property is only resalable after 7 years if you invested $200,000 USD. However, if you invested $400,000 USD, it can be resold after 5 years.
To begin the application for this investment process, applicants are required to pay for processing and due diligence fees with $7,500 USD for each main applicant. These fees are applicable to the dependents of the main applicant. The price for their processing and due diligence fee is $4,000 USD per person who is above 16 years old.
Once the application made through the real estate investment is approved, the following government fees apply:
- $35,000 USD for the main applicant
- $20,000 USD for the spouse of the main applicant
- $10,000 for other qualified main dependents.
On top of these fees, St. Kitts and Nevis real estate investors should know about purchase costs that include conveyance fees and mandatory insurance fund contributions.
Benefits of a St. Kitts and Nevis Citizenship
There is a long list of reasons why you should consider St. Kitts and Nevis investment options. Aside from its beautiful natural sceneries, there are several other reasons why you should consider St. Kitts and Nevis citizenship.
For example, you can enjoy visa-free travel to more than 150 countries worldwide. These include the Schengen visa countries and the UK.
Moreover, applying for citizenship in this beautiful tropical island country is easy and hassle-free – most of the process will be handled by your authorized agent. You don’t need to undergo more tedious processes like interviews or residing in the country for a certain period.
The application and subsequent approval process are quick, too. It takes as short as 90 days, although this can take longer, depending on your specific case. Other benefits include enjoying a more favorable tax system, one of the best worldwide.
Some examples of their more favorable tax system are that you don’t have to pay taxes for your personal income or for any amount gained from gifts or inheritance. Because of this, you can make the most out of your revenue without having to worry about double taxes, especially if you’re a dual citizen.
There are plenty of sectors in St. Kitts and Nevis that are worth investing in. You can invest in the government, real estate, and other booming sectors such as agriculture, tourism, light manufacturing, and information technology.
The nice thing about it is that if your investment is large enough, you can avail of citizenship for yourself and your family. On top of that, you can also enjoy low St. Kitts and Nevis taxes and visa-free travel to over 150 countries worldwide.