Not every geography aficionado would be able to say what is St. Kitts and Nevis and where they are in the world. However, these islands were the first who launched a citizenship by investment program over 30 years ago.
Why do I need dual nationality?
Second passport is a good solution when you travel a lot for business or pleasure, because it gives visa-free or visa-on-arrival entry to many countries.
Another advantage of obtaining second citizenship by investment is favourable taxation practiced in such jurisdictions. It can be beneficial both for your personal finances and your international company that is registered but not operating there. A start-up business especially would appreciate every penny.
Third reason of investing in dual nationality is having a back-up plan for when something goes wrong in a home country.
Benefits of a Caribbean passport
Small island states in the Caribbean are in great need of foreign investments; therefore, they offer much better terms and conditions for foreign investors to become citizens there.
1. Low cost of second passport
You require much less money to invest in the Caribbean than in a second passport of Cyprus or Malta. Minimum investment amount starts at $100,000. And you have a choice of where to invest your money, whether it will be cheaper but non-refundable or more expensive and partly or fully recoverable.
2. Fast processing time
Compared to Europe, naturalisation in the Caribbean will not take longer than 6 months and you do not have to fly to the other end of the world. Basically, you can get a second passport from the comfort of your home.
3. Visa-free travel
Since gaining independence, governments of the island states have been doing their best to build connections with the rest of the world. Their efforts guaranteed Caribbean passport holders free entry to 130-150 countries including EU and UK.
4. Tax benefits
You might want to become tax resident in the Caribbean if you wish not to pay income tax on your foreign income. A few other taxes are also charged at 0% and some are very low.
5. Favourable taxation for international companies
Corporation tax rate on revenues received by a company outside the country of registration is 0% on most islands. Besides, a Caribbean passport will be welcome in most European banks.
Why choose St. Kitts & Nevis passport
You would normally hear and read about five main Caribbean jurisdictions: Antigua and Barbuda, St. Kitts & Nevis, Dominica, Grenada, Saint Lucia.
If you look at figures, St. Kitts would not be your first choice for several reasons.
- Theirs is not the lowest offer. There are other programs starting at $100,000, excluding extra fees.
- It is the smallest country in the region.
- The islands have been battered by many tropical hurricanes with the last one causing reduction in the minimum investment amount in the St. Kitts & Nevis citizenship by investment program.
However, do not rush to any conclusions just yet. Current population of St. Kitts & Nevis is around 50,000 people while the number of foreign investors holding its passport has exceeded 16,000. There are some celebrities there in that list. Why is it so popular?
Exceptionally reliable citizenship by investment program
On the official website of the St. Kitts & Nevis Citizenship by Investment Unit, they jokingly call their program a grandfather of all other citizenship by investment programs in the world, what with being launched in 1984. For reliability and longevity, St. Kitts program has been considered a platinum standard.
Invest in citizenship of this country and be sure that you will get a Caribbean passport in time as it is predictable and dependable like clockwork.
Fastest route to second passport
You can choose to pay extra for an accelerated process and get your passport in 45-60 days. It will cost you $25,000 for yourself, $20,000 for your spouse and $500 for children under 16.
If you love travelling and dream about a world without borders, St. Kitts & Nevis passport is your oyster – it guarantees visa-free travel to around 150 countries. This sizeable list includes European Union and the United Kingdom. You can stay up to 90 days in Schengen states and up to six months in the UK.
There is no income tax in St. Kitts & Nevis. Neither are tax residents taxed on their wealth, capital gains, inheritance and gifts.
Safety and comfort
Downshifters and freelancers might be interested to make the islands of St. Kitts and Nevis their home for a few years or longer. Thanks to the 30-year operation of the citizenship by investment program, the country has come all the way from an agricultural economy to a booming tourism sector with associated infrastructure, tropical sea and bounty beaches.
How to get St. Kitts & Nevis citizenship
Currently, there are two investment options that we would recommend considering.
1. Non-refundable donation to the Sustainable Growth Fund
It is good to know that this money is spent to build roads, develop tourism and other industries as well as education and culture infrastructure.
St. Kitts & Nevis passport for a single applicant will cost $150,000 (donation) plus $7,500 of due diligence fee. If you want to apply with family members, costs will increase proportionally.
2. Investment in real estate
Purchase of a property in St. Kitts & Nevis is either fully or partially recoverable investment. If you spend $200,000, you must own the property for at least 7 years; if you can spare $400,000, it can be recovered in 5 years.
Please note that you can only invest in a property that is in a government approved list of trusted developers. Apart from due diligence fees, you will be also asked to pay government fees.
To prevent fraud and misrepresentation, St. Kitts & Nevis government has been accepting applications only through licensed agents. They can also recommend you how and where to invest and offer you off-the-market properties.