The COVID-19 pandemic has taken the world by storm. Many are left feeling discouraged and uncertain about the future and the future of their country of origin. So much so that it’s left some investors no choice but to seek out second citizenship and passport elsewhere.
One country that has piqued investors’ interest is St. Kitts & Nevis. Their Citizenship by Investment program, which started in 1984, is an attractive and affordable alternative for those who are not willing to invest in European Citizenship and is regarded as excellent value for money, with numerous passport benefits.
Confirming the advantages of second citizenship and passport, CEO of Savory & Partners, Jeremy Savory says, “We’ve had a lot of European, Western clients that want to be strategic with their tax planning and passing on inheritances. We also have Middle Eastern clients facing challenges, where they don’t feel like they can travel freely into the Schengen zone in Europe, or to the UK or the US. Citizenship by Investment gives them a plan B.”
So, how much does a St. Kitts & Nevis passport cost? In order to obtain St. Kitts & Nevis citizenship and passport, investors must decide which route they want to take. This includes any one of the 2 direct options:
Sustainable Growth Fund (SGF)
Established in 2018, St. Kitts & Nevis launched its Sustainable Growth Fund after the expiry of their Hurricane Relief Fund. The fund was created to assist in the restructuring of the country’s healthcare and education system, infrastructure, and tourism.
The contribution requirements under SGF are:
- Single applicant: $150,000
- Family of 4 (main applicant and 3 dependants): $195,000
- Additional family dependant: $25,000 per dependant
Active since 2018, investors have the choice of investing in real estate property that is government-approved. They can either invest in a property that is held for a period of:
- Five-years: Applicants can invest in real estate valued at a minimum of $400,000. The real estate can only be sold after 5 years.
- Seven-years: Applicants can invest in real estate valued at a minimum of $200,000. The real estate can only be sold after 7 years.
Please note: Both these investment options include additional government fees and taxes that must be paid.
**LIMITED TIME OFFER** As of July 2020, active immediately, St. Kitts & Nevis has reduced the price of their family contribution by $45,000. What was previously $195,000 for a family of 4 will now cost $150,000. However, this special price is only valid until 15 January 2021. For a single applicant, the non-refundable minimum contribution remains at $150,000.
St. Kitts & Nevis Citizenship Investment Unit Chief Executive, Les Khan, says about the price reduction, “In today’s uncertain world, it is only right that individuals and families want the ability to travel the globe as flexibly and confidently as possible. Once travel restrictions are lifted, the St. Kitts and Nevis passport will continue to enable our citizens to travel visa-free to more countries in the world than any other program in the Caribbean and the vast majority of passports in the world,” explains Les.
Benefits of Holding Second Citizenship in St. Kitts and Nevis
- Lifetime citizenship that passes down to future generations
- Families of four and dependent parents are given second citizenship and passport
- Visa-free and visa-on-arrival access to 150+ countries, including the UK, Hong Kong, Singapore, Russia and more.
- Dual nationality allowed.
- No need to reside in St. Kitts and Nevis.
- No taxes on wealth, inheritance, gift, capital gains or foreign income.
- Duty-free trading within the Caribbean.
- Access to top international universities.
To learn more about the various Citizenship by Investment programs, including non-European and European citizenship, contact one of our authorized agents, or find out if you are eligible for second citizenship and passport. Savory & Partners also offers Residency by Investment and Immigration by Investment programs for entrepreneurs and business people looking to relocate their families.
Savory & Partners is a government-approved agency that has assisted numerous families across the world with their application process. We have a 100% success rate and ensure all paperwork is valid, verified and up to date before submission. Book your free consultation today, and secure a prosperous future for you and your family.
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