What is Citizenship by Investment?
A Citizenship by Investment (CBI) program, also known as economic citizenship, involves obtaining citizenship in a foreign country in exchange for making a significant investment. To participate in a CBI program, an applicant must typically:
- 1. Make a non-refundable donation
- 2. Invest in government-approved real estate
- 3. Purchase government financial instruments
- 4. Establish and operate a company
The process involves submitting an application, providing required documents, and making an investment as specified by the program. Upon approval, the applicant will receive a certificate of naturalization and full citizenship, including a passport that can be used for travel, work, and residency abroad.
St Kitts & Nevis Citizenship by Investment Summary
St. Kitts & Nevis Citizenship by Investment Program allows individuals to gain citizenship in exchange for an investment in the country, either by real estate purchase or a contribution to the Sugar Industry Diversification Foundation (SIDF). The investment starts at $150,000 for a single applicant, with processing fees and due diligence costs added. The program offers visa-free travel to over 160 countries, including the UK and EU Schengen area, and a low tax jurisdiction. The citizenship is granted to the applicant, their spouse and children under the age of 30.
How to obtain a St Kitts Passport:
The St. Kitts & Nevis Citizenship by Investment Program offers two main investment options:
- Sustainable Growth Fund (SGF): A non-refundable contribution of $150,000 for a single applicant to the Sustainable Growth Fund (SGF), increasing to $195,000 for a family of four.
There are additional fees to keep in mind which will be used to pay for the due diligence process:
- $7,500 for main applicant
- $4,000 for any dependent over the age of 16
2.Real Estate Investment: An investment of at least $200,000 in a pre-approved real estate project for a minimum of 5 years.
Unlike the donation route which only has due diligence fees charged, the real estate investment route has expensive government fees:
- $35,050 for main applicant
- $20,050 for spouse of main applicant
- $40,000 for any sibling of main applicant
- $10,050 other dependant regardless of age
Both options must be maintained for a minimum of five years to retain St Kitts Passport
The benefits of obtaining a St Kitts Passport
A St. Kitts & Nevis passport offers several benefits, including:
- Visa-free travel: Access to over 160 countries, including the UK and EU Schengen area, without the need for a prior visa.
- Tax benefits: St. Kitts & Nevis is a low tax jurisdiction with no taxes on worldwide income, capital gains, or inheritance.
- Dual citizenship: The citizenship program allows for dual citizenship, allowing the holder to retain their current citizenship while acquiring a second passport.
- Fast processing time: The process of obtaining citizenship through the St. Kitts & Nevis Citizenship by Investment Program is typically fast, with processing times of 4-6 months.
- Lifestyle benefits: St. Kitts & Nevis is known for its pristine beaches, lush tropical landscapes, and vibrant culture, making it a popular destination for retirees and second-home owners.
- Security and stability: St. Kitts & Nevis is a politically stable country with a strong rule of law, providing a secure environment for citizens and their families.
The cons of obtaining a St Kitts Passport
The St. Kitts & Nevis Citizenship by Investment Program has some cons, including:
- Cost: The investment required to obtain citizenship is substantial, starting at $150,000 for a single applicant and $195,000 for a family of four.
- Due diligence costs: The government of St. Kitts & Nevis conducts strict due diligence checks, which come at a cost and can add several thousand dollars to the overall investment.
- Limited mobility: Despite offering visa-free travel to over 160 countries, St. Kitts & Nevis citizens still face restrictions and may require visas for some countries, such as Canada and Australia.
- Residency requirements: While the program does not require residency for citizenship, it is advisable to spend some time in the country to fully enjoy the benefits of citizenship.
- Political instability: Although St. Kitts & Nevis is considered a politically stable country, the situation in the Caribbean region can be unpredictable and subject to change.
- Reputation: Some countries view citizenship by investment programs as a way to obtain a “second passport” for purposes such as tax avoidance, which can harm the reputation of the country and its citizens.
St Kitts Passport Application Process:
The application process for the St. Kitts & Nevis Citizenship by Investment Program involves the following steps:
- Choose an Authorized Agent: Select a reputable, authorized agent to assist you with the application process.
- Submit a Pre-Application Form: Complete and submit a pre-application form to the government of St. Kitts & Nevis to determine eligibility.
- Provide Supporting Documents: Provide the required supporting documents, including proof of identity, police clearance certificates, and medical certificates.
- Make an Investment: Choose one of the approved investment options, either a contribution to the Sugar Industry Diversification Foundation (SIDF) or the purchase of approved real estate.
- Undergo Due Diligence: All applicants must undergo a due diligence process to verify their identity, background, and financial status.
- Receive Approval: Once the application is approved and the investment is made, the government will issue a certificate of naturalization.
- Obtain Passports: After obtaining citizenship, applicants can apply for a St Kitts passport(H2) from the government of St. Kitts & Nevis.
The processing time for St. Kitts & Nevis CBI applications is typically 4-6 months. It is important to work with a reputable agent and to ensure that all required documents and information are submitted accurately to avoid delays in the process.