Located between the Atlantic Ocean and the Caribbean Sea and situated in the West Indies, is the beautiful island of St. Kitts & Nevis. St. Kitts & Nevis, like many of its neighbours, was formed by volcanoes and was commonly known as a sugar-cane island. Today, it is home to some of the most magnificent beaches and home to one of the highest-ranked Citizenship by Investment programs in the world.
1. What is a Citizenship by Investment program?
A Citizenship by Investment program acts as a safety net or insurance policy for investors seeking second citizenship and passport. Since living in very uncertain times, the world is an ever-changing, unpredictable place, and a Citizenship by Investment program can help investors to protect their assets, all while offering a safe, secure and thriving future for themselves and their families.
“Our clients are high-net-worth individuals from all over the world who hold a GCC residency. If you look at the situation in their country, they are thinking, ‘I need to have a plan B for peace of mind, security and to travel freely’. Despite having clean travel profiles, they do face hassle in getting travel visas,” explains Jeremy Savory, CEO and founder of Savory & Partners.
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St. Kitts & Nevis’ Citizenship by Investment program is the oldest investment program in the world. Launched in 1984, the British Commonwealth country created this program to strengthen its relationships with the rest of the world and to further drive economic growth and stability.
Today, it is considered an extremely affordable second citizenship and passport option as many investors, in recent years, have now realized the value in investing in alternative investment programs to that of European citizenship.
2. Who can qualify for a St. Kitts & Nevis Citizenship?
“There are certain countries in the world where it’s legal to obtain citizenship, provided you meet certain criteria, one of which is the financial contribution you need to make, [through] real estate, financial products or a one-time investment, which is non-refundable,” continues Jeremy, adding, “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. There are a lot of people in this region that don’t feel like they can travel freely into the Schengen zone in Europe or to the UK or the US.”
Not everyone can qualify for a St. Kitts & Nevis Citizenship. Though this program attracts investors with a net worth of $1m or more, it has become attainable to those with a net worth of $500,000.
3. How much does a St. Kitts & Nevis Citizenship cost?
St. Kitts & Nevis citizenship and passport can be obtained through two direct options:
The first option is investing in the Sustainable Growth Fund. Investors can pay a non-refundable minimum contribution to the fund of $195,000 (for a family of 4) or a non-refundable minimum contribution of $150,000 (for a single applicant). Additional dependents is an extra $25,000 each.
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The second option is investing in government-approved real estate. Investors can either purchase real-estate valued at a minimum of $400,000, which can only be sold after five years; or valued at a minimum of $200,000, which can only be sold after seven years.
On top of these investment options, there are still additional government costs and fees involved that need to be included and payable.
4. Costs of St. Kitts & Nevis Citizenship
As of July 2020, St. Kitts & Nevis are now offering a discounted price on their family contribution. Effective immediately, and valid only until January 15th 2021, a minimum contribution of $150,000 will secure second citizenship and passport for a family of 4.
There are numerous benefits to holding a St. Kitts & Nevis citizenship and passport, which include the following:
Savory and Partners is a government-approved agency that has assisted many families with securing second citizenship and passport for their future through the many Citizenship by Investment programs and Residency programs on offer. Contact us today to find out more about each program.
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Not only will our specialist agents select a program tailored to your needs, but they will ensure your application is dealt with efficiently and successfully. Book a free consultation now and guarantee a prosperous future for you and your family.
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