NEWS AND EVENTS
St. Kitts & Nevis
St. Kitts & Nevis, also known in the country’s Constitution as Saint Christopher and Nevis, has been independent since 1983 and forms part of the group of islands known as the Lesser Antilles, located some 2,000 km to the southeast of Miami. The Federation comprises two islands: Nevis with an area of 93.2km2 and St. Kitts with 168.4km2. The official and business language is English. The Federation is a member of the United nations, of the Organisation of American States, the British Commonwealth, Caricom and many other international organizations. The Eastern Caribbean central Bank has its headquarters on St. Kitts. It maintains the stability of the Eastern Caribbean Dollar, the national currency of most Eastern Caribbean countries, which is tied to the US Dollar. The Head of the State is the Queen of England. St. Kitts & Nevis is a well-functioning democracy based on the British parliamentary system.
Although tourism plays a smaller role than in other Caribbean countries, the two islands offer many fine beaches as well as an outstanding attractive mountainous landscape. The climate is tropical and close to perfect. Differences in altitude and therefore differences in soil types make it a paradise for tropical plants. St. Kitts has a very well-designed golf course laid out between the Caribbean Sea and the Atlantic Ocean. There is also a very attractive golf course on Nevis. The truly appropriate motto of the local tourism authority is: Two islands – one paradise.
Since 1984, the St.Kitts & Nevis Citizenship Act has allowed foreign investors to acquire citizenship. This makes it the oldest existing citizenship-by-investment program.
Requirements
The citizenship program of St. Kitts & Nevis requires making an economic contribution to the country. In exchange, the applicants and their families are granted full citizenship.
To qualify for citizenship, the regulations require either an investment of at least US $ 350,000 in one of the approved real-estate developments, plus the payment of government fees, other fees and taxes, or alternatively a contribution to the Sugar Industry Diversification Foundation (SIDF, a public charity) to the amount of US$ 200,000 (for a single applicant) inclusive however of all government fees.
The real-estate option also involves purchase costs of approximately 10% of the purchase price, government fees of US $ 35,000 for a single applicant plus US$ 15,000 for each dependent and a US$ 3,500 due diligence fee per adult applicant. As the application procedure under this option involves the purchase of real estate, this lengthens the processing time which is between 4 and 14 months. The real estate cannot be re-sold until 5 years after the purchase, and after that time it will not qualify the next buyer for the citizenship.
The SIDF option comprises four different categories: 1) Single applicant: US$ 200,000 investment required; 2) Applicant with up to three dependents (i.e. one spouse and two children under the age of 18): US$ 250,000 investment required; 3) Applicant with up to five dependants (i.e. one spouse and four children): US$ 300,000 investment required; 4) Applicant with six and more dependants: US$ 400,000 investment required. In each of these categories, the total amount includes all government and due diligence fees. The documentation required for an application is reasonable and the application procedure is straightforward. The average processing time is less than 3 months.
A completely clean personal record (certificate of no criminal record, etc.), a comprehensive CV, business background information as well as impeccable references must be provided by all applicants.
Procedures and Timeframe
The documentary requirements of the St. Kitts & Nevis Citizenship-by-Investment program are reasonable and the procedures straightforward. While due diligence requirements are strict, interviews are generally not required. However processing times differ depending on whether the real-estate option or the SIDF option is chosen, due to the fact that the former involves the purchase of property and requires more paperwork; furthermore, most investors would normally visit the islands before making a decision on the purchase of real estate, which further lengthens the process. The procedures under the real-estate and SIDF options are somewhat different and the processing times for application accordingly range from between 4 to 14 months under the real estate option to less than 3 months under the SIDF option.
Dual Citizenship
There are no restrictions on dual citizenship in St. Kitts & Nevis.
Advantages of St. Kitts & Nevis’ Citizenship
When a person acquires citizenship under the St. Kitts & Nevis citizenship program, s/he and the family enjoy full citizenship. As citizens of St. Kitts & Nevis, an investor and his/her family are issued with passports which allow visa-free travel to more than 60 countries worldwide, including the United Kingdom, Switzerland, Canada and many others.
Of course an applicant has the right to take up the residence in St. Kitts & Nevis at any time and for any length of time. An investor is not liable for taxation, even if s/he decides to reside there, as there are no direct taxes whatsoever.
As a Commonwealth citizen, a person receives certain preferential treatment in the United Kingdom. For example, his/her children may enter the United Kingdom to study without first having to apply for student visas. After studying, they may work in the United Kingdom for two years without needing a work permit.