Until the end of 2020, St. Kitts & Nevis government has announced they are offering their Citizenship by Investment program to investors at a reduced price. Due to the current global pandemic, and as tourism takes a massive knock, St Kitts & Nevis has had to restructure their investment program in hopes of boosting economic growth during these uncertain times.
Since the start of COVID-19, St. Kitts & Nevis has seen a total of 17 cases, 17 recoveries and 0 deaths. As it stands, they have reported no new cases, making it one of the safest, COVID-free countries in the world right now.
“St. Kitts and Nevis is the safest, most beautiful and prosperous country in the Caribbean to offer economic citizenship and we remain so during these difficult times,” states St. Kitts & Nevis Prime Minister, The Honourable Dr. Timothy Harris. “This limited-time offer will provide the resources to help us successfully fight COVID-19 and enhance the safety nets for those who have lost their jobs or income as a consequence,” he adds.
St. Kitts & Nevis Citizenship Investment Unit Chief Executive, Les Khan, further adds, “We are delighted to offer – for a limited period while the world grapples with the pressures of the COVID-19 pandemic – all of the benefits of full economic citizenship at an even more competitive rate for families, and with a new paper-free application process.”
Chatting to Bloomberg News, Les Khan explains the new developments saying, “In these days of COVID, when tourism is not happening, we have to find ways to create revenue to sustain our economy.”
Valid until January 15th 2021, a $150,000 contribution to the country’s Sustainable Growth Fund (SGF) will now secure St. Kitts & Nevis passports for a family of 4, which marks a $45,000 reduction, or 23% drop from the usual $195,000 contribution. For a single applicant, however, the minimum contribution will remain at $150,000.
“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 and visa-on-arrival to more countries in the world than any other program in the Caribbean and the vast majority of passports in the world,” adds Mr Khan.
St. Kitts & Nevis’ Citizenship by Investment program is the oldest investment program in the world, having first launched in 1984, and is regarded as a popular choice for investors seeking non-European citizenship and passport for themselves and their families.
Benefits of St. Kitts & Nevis citizenship include:
- Lifetime citizenship that passes down to future generations
- Families of 4, and dependent parents given second citizenship and passport
- Visa-free access to 150+ countries, including the UK, other Schengen European countries, Hong Kong, Russia and more.
- Dual nationality allowed.
- Named one of the world’s top 20 islands to live in.
- 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.
Alternatively, investors pursuing second citizenship and passport with St. Kitts & Nevis can still invest in government-approved real estate, valued at a minimum of $200,000 (re-saleable after 7 years) or a minimum of $400,000 (re-saleable after 5 years).
The recent temporary changes to St. Kitts & Nevis Citizenship by Investment program is amongst other British Commonwealth countries that have also taken steps to attract more investors during the pandemic.
St. Lucia, Grenada, Antigua and Barbuda, and Commonwealth of Dominica have followed suit, with St. Lucia releasing its amended changes to its Citizenship by Investment Regulations, 2020.
To find out more about the St. Kitts & Nevis Citizenship by Investment program as well as other recent Citizenship by Investment amendments, contact Savory & Partners.
Learn more about the benefits of second citizenship here.
Savory & Partners is a British government-approved agency that has helped hundreds of families across the Middle East to obtain second citizenship and passport. Each Citizenship by Investment program differs from country to country, and the requirements pertain to the individual country’s official government body.
Book your free online consultation with our passport experts today, and secure a future for you and your family. Savory & Partners will deal with all your queries and map out the right Citizenship by Investment program to suit your needs.
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