St. Kitts & Nevis offers their Citizenship by Investment program to investors and entrepreneurs looking to secure second citizenship and passport for them and their families.
One of the investment options investors can consider when looking at this program is investing in government-approved real estate property.
Real Estate Investment
Applicants qualify for citizenship by investing in a pre-approved real estate project, which may include villas, hotel shares, or condominium units. The minimum real estate investment required by law is $200,000 (resalable after 7 years) or $400,000 (resalable after 5 years) for each main applicant.
Upon submission, non-refundable due diligence and processing fees must still be paid. These fees amount to $7,500 for the main applicant and $4,000 for each dependent of the main applicant who is over the age of 16 years.
Once the application has been approved, a government fee applies, as follows:
Main applicant: $35,050
Spouse of the main applicant: $20,050
Any other qualified dependent of the main applicant regardless of age: $10,050
Important to note is that in addition to these fees, real estate buyers should be aware of purchase costs (mainly compulsory insurance fund contributions and conveyance fees).
Another investment option to consider is investing in the government’s Sustainable Growth Fund (SGF).
Sustainable Growth Fund
Applicants qualify for citizenship by investing in a non-refundable contribution towards the Sustainable Growth Fund (SGF):
Single applicant: a non-refundable contribution of $150,000
Main applicant with up to 3 dependents (family of 4): a non-refundable contribution of $195,000
Additional dependents: $10,000 each
This amount does not take into account non-refundable due diligence and processing fees that need to still be paid, upon application submission. These fees amount to $7,500 for the main applicant and $4,000 for each dependent of the main applicant, who is over the age of 16 years.
**LIMITED TIME OFFER** As of July, 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, discusses the recent price reduction saying, “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.”
Benefits of St. Kitts & Nevis Citizenship
- Fast citizenship and passport processing of 4-6 months
- Accelerated Application Process – approval within 60 days
- Lifetime citizenship that passes down to future generations
- Visa-free and visa-on-arrival access to over 150 countries, including the Schengen region, Hong Kong, Russia and the United Kingdom
- Wife, children and dependant parents are also given citizenship and a second passport
- Dual nationality allowed
- Named one of the world’s top 20 islands to live in
- There is no need to reside in St. Kitts and Nevis when applying for second citizenship and passport
- There are no taxes on wealth, gifts, capital gains, inheritance or foreign income
- Duty-free trading within the Caribbean
- Access to top international universities
Other countries within the British Commonwealth also offer Citizenship by Investment Programs allowing investors to invest in government-approved real estate property. Each program’s minimum contribution requirements differ from country to country, which is why investors need to go through authorized agents, such as Savory & Partners when selecting the right program for them and their families to guarantee a successful application.
On top of the Citizenship by Investment programs, Savory & Partners also offer various Residency by Investment and Immigration by Investment programs. Get in touch with one of our specialist agents to learn more about each program, its benefits and requirements. As a government-approved agent, Savory & Partners has assisted hundreds of families across the Middle East in their application process from start to finish. To learn more about your options, book your free consultation today and secure your future for you and your family, and for your future generations to come.
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