The Citizenship-by-Investment Unit (CIU) from St. Kitts and Nevis has announced the introduction of a new residency program for investors wanting to live and work in the twin island.
The announcement was made by CEO, Les Khan, at the Global Mobility & Tax Strategies Conference in Singapore back on June 30, where he joined the event as a guest speaker.
It was a successful conference where Khan met with wealth managers and lawyers who represented clients throughout the Asia Pacific region. Their primary interest was focused on Citizenship and residency programs as a mechanism of wealth planning and tax relief. Les Khan also highlighted the program as “the strongest in the Caribbean”. In fact, The St. Kitts and Nevis Citizenship program is the oldest of its kind and most reputable Citizenship program in the world.
During the announcement, Khan stated that “St Kitts and Nevis was in a unique position to offer a residency program without having to change any tax laws.” He also noted this is currently the only program in which investors would be required to spend a certain period of time on the twin-island. The program was created in response to an increasing demand from citizens and investors to become residents of the nation.
During the conference, the Honourable Timothy Harris said “The program will still maintain its high standards of due diligence, it is intended to offer our economic citizens the ability to obtain a residency card as long as they are willing to spend a period of time on the island. In addition, individuals not wanting citizenship at this time can apply for residency status and in the future convert to citizenship should they wish to do so.”
The Prime Minister of St. Kitts and Nevis, the Honourable Dr Timothy Harris, stated “With St Kitts and Nevis program now globally recognised for its integrity and platinum standard, it made sense that the natural next step would be to offer a residency program that would meet a specific customer’s need. It will also stimulate tourism, as well as provide our developers with another avenue for marketing their projects. It is a virtuous circle of mutual benefit.”
Additionally, CEO Les Khan stated that the introduction of this new residency program was well-received by European and Chinese consultants. Due to its good reputation concerning political stability, continued economic growth, and a passport that allows visa-free travel to over 135 countries including the UK and the Schengen States, St. Kitts and Nevis Citizenship & Residency programs continue being one of the favourites among investors, entrepreneurs and high net worth individuals.
Les Khan stated that complete details of the program will be released in the next two weeks.
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