The beautiful island of St. Kitts & Nevis is a haven’s paradise, boasting an array of white sandy beaches, tropical rainforests and impressive mountainous views. It’s no wonder this island is a firm favourite for tourists looking for an escape. But did you know that St. Kitts & Nevis also offers investors the opportunity to secure second citizenship and passport?
A Citizenship by Investment program is not a new concept. In fact, the St. Kitts & Nevis’ Citizenship by Investment program has been around for years and ranks as one of the most affordable programs, today. The Citizenship by Investment program itself gives investors an alternative to fall back on should anything happen within their country of origin.
With countries forever changing their visa requirements or travel restrictions, Citizenship by Investment program helps investors to protect their assets and offers them and their families the guarantee of dual citizenship.
“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.
St. Kitts & Nevis’ Citizenship by Investment program is the oldest investment program in the world. Launched in 1984, the British Commonwealth island created this program to strengthen its ties with the rest of the world and to drive future economic stability further.
Today, it is considered as quite an affordable option to invest in, as many investors, in recent years, are now realizing the value in investing in non-European citizenship programs for second citizenship and passport.
How much does a St. Kitts & Nevis Citizenship cost?
When it comes to St. Kitts & Nevis’ investment program, there are 2 direct options investors can take:
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 cost an extra $25,000 each.
However, since the island has seen a slowdown in economic growth since the COVID-19 pandemic, the government has decided to offer investors a discount on their family contribution for a limited time only. Active immediately, and valid only until 15 January 2021, the minimum contribution has decreased to $150,000 for a family of 4.
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 5 years; or valued at a minimum of $200,000, which can only be sold after 7 years.
It is important to note that there are still other additional costs and fees that need to be paid in full on top of the above costs.
What are the benefits of a St. Kitts & Nevis Citizenship?
There are many benefits to holding a St. Kitts & Nevis citizenship and passport, which include the following:
- Fast track processing within 4-6 months.
- Accelerated Application Process – approval within 90 days.
- Lifetime citizenship that is irrevocable and passes down to future generations.
- Visa-free access to 150+ countries that include the Schengen European countries, the UK, Hong Kong, Russia and more.
- Wife, children and dependent parents are also given citizenship and a second passport.
- 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.
Who can qualify for a St. Kitts & Nevis Citizenship?
Though a Citizenship by Investment program attracts investors with a net worth of $1m or more, it has become more attainable to those with a net worth of $500,000. Investors must understand, however, that not everyone can qualify for second citizenship and passport.
Each program comes with its own set of rules and requirements that have been meticulously implemented by each country’s governing bodies or heads of state, which is why it’s essential investors seek professional advice when enquiring about the various program options.
This is where Savory & Partners comes in. As a government-approved agency, we have assisted numerous families in securing second citizenship and passport for themselves and their families. We take great pride in knowing our specialists are here to help you with any queries you may have and guide you on the right path for dual citizenship.
On top of the several Citizenship by Investment programs on offer, Savory & Partners can also assist investors who are looking to obtain permanent residency within Europe through our Residency by Investment programs. The countries currently offering permanent residency in exchange for investment are Bulgaria, Portugal, Greece, Cyprus, Spain and Malta. Contact us today to find out more about each program. Not only will one of our specialist agents select a program tailored to your needs, but we will ensure your application is dealt with successfully. Book a free consultation now and guarantee a prosperous future for you and your family.
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