St. Kitts and Nevis citizenship by investment program is evolving as an amazing opportunity for investors looking to grow in a friendly business environment, and a fast-developing economy. The country introduced in December 2022 remarkable changes to its program in marking a new era for the investment immigration industry.
St. Kitts and Nevis Passport Ranking
Saint Kitts and Nevis passport is ranked 26th among global passports, achieving first place among Caribbean passports. It is considered one of the most desirable passports as it gives its holder visa-free access to 157 destinations including the UK, Schengen Area, Russia, Hong Kong, Singapore, and Latin American countries.
St. Kitts and Nevis Citizenship by Investment
The Citizenship by Investment Program in St Kitts and Nevis allows foreign investors to acquire a second passport and citizenship if they meet certain criteria and successfully pass a thorough due diligence process. The program is the oldest of its kind and one of the most reputable citizenship-by-investment programs in the world. St Kitts and Nevis passports and citizenship are granted to qualified applicants within 60 to 90 days. Citizenship is irrevocable and is granted for life. In December 2022, Saint Kitts & Nevis’ Citizenship by Investment Unit (CIU) has introduced new changes to its citizenship by investment program to assure its openness for business. A Limited Time Offer valid until June 30, 2023 has been introduced which offers applicants reduced government fees and accelerated processing time within 60 days for all applications submitted through the government-approved fund known as SGF. These changes are aimed to underpin the program by three fundamental principles that are sustainability, good governance, and pragmatism to ensure greater transparency and accountability.
-
How to Get St. Kitts Nevis Citizenship by Investment
To qualify for citizenship and gain St Kitts and Nevis passports by investment, applicants must submit an application and undergo due diligence in addition to investing in one of the qualifying routes for citizenship. Starting from January 1, 2023 until June 30, 2023, a main applicant can make a minimum investment of $125,000 to the Sustainable Growth Fund (SGF). A main applicant and a spouse should invest $150,000 and with additional two dependents the cost surges to $170,000, and each additional dependent under 18 years ($10,000), and above 18 ($25,000).
Applicants can choose to make a minimum investment of at least $200,000 in an approved real estate development. They can also apply for citizenship by purchasing a qualified private home for a minimum investment of $400,000 per main applicant. Unlike the preapproved real estate option, investing in a private home means that it cannot be converted into apartments, condominiums, or divided, and cannot be sold for five years after citizenship is granted, and the property may never be eligible for use in a subsequent Citizenship by Investment application.
Economic Citizenship St. Kitts and Nevis Application Process
Applying to citizenship by investment program in St. Kitts and Nevis can only be done through a government-approved agent. To start the process applicants must sign a service agreement with an authorized agent. The latter will provide advice, assistance, and prepare documents and government forms. The applicant’s file will be complete at this stage, and due diligence fees and government application fees will be due. If the applicant chooses the real estate option, a down payment to reserve the property will also be required. The authorized agent will submit a complete application to the government of St. Kitts and Nevis on behalf of the applicant, and after the government assesses the applicant’s file and due diligence is completed, an “Approval in Principle” will be issued. The applicant is required to make the applicable investment for the selected option, and the government issues the naturalization certificate. After this stage, St. Kitts and Nevis passport applications are submitted, and the passport is issued within one week and delivered along with the naturalization certificate to the applicant. The balance of fees will be due.
Benefits of Second Citizenship in St. Kitts and Nevis
St. Kitts and Nevis citizenship has a lot to offer, the first of which is the right to live, work, and study in a stable and secure country. Taxes within the country are minimal, income received outside of its borders is not taxed. The authorities of Saint Kitts and Nevis recognize dual citizenship, which means that the country of the first citizenship is not notified of receiving another passport, therefore, you can buy property and open accounts in banks without the need for your country’s passport. St. Kitts and Nevis passport is issued for 10 years and can be renewed. A spouse, children under 25, and parents over 55 can receive citizenship with the investor.
There are plenty of business opportunities in St. Kitts and Nevis, and it is famous for its foreign-friendly business policies. With its sunny and mesmerizing beaches and strong national infrastructure, the country has turned into one of the fastest-growing economies in the Caribbean. The country guarantees as well financial privacy by not making any information about offshore business owners and top managers public.
St. Kitts Nevis Passport Price Increase
Due to the new changes introduced to St. Kitts and Nevis’ Citizenship by investment program, starting from January 2023 a single applicant with a family of four will be required to invest $125,000 through the Sustainable Growth Fund (SGF) instead of $150,000 previously. However, from 1 July 2023 onwards, the main applicant investing through the SGF will be charged $150,000 and can expect approval in principle within 90 days of submission of the application.
The minimum investment for approved real estate will remain at $200,000 but new penalties were introduced on people or entities that circumvent the payment of minimum investment sums including fines that would reach $200,000.
What is the Total Cost of Citizenship in St. Kitts Nevis for an Individual?
The total cost for an individual to acquire citizenship from St. Kitts and Nevis is $132,500. This includes a $125,000 contribution to the SGF and $7,500 due diligence fees. While the total cost of citizenship when choosing the real estate investment option is a minimum $232,500. This includes a $200,000 investment in an approved real estate project held for 7 years, $25,000 government fees, and $7,500 due diligence fees. The cost would rise to $432,500 for a private home property held for 5 years.
Common Question about St. Kitts Nevis Passport:
Investors looking to obtain second citizenship may have several concerns and would raise several questions before taking any investment risk.
Is St Kitts passport worth it?
St. Kitts and Nevis citizenship-by-investment program has been in operation since 1984, making it one of the oldest and most reputable programs. Applicants obtain an irrevocable St Kitts and Nevis passport without having to reside in the country or renounce their current nationality. St. Kitts and Nevis citizenship offers its citizens a wide range of benefits such as world class healthcare, education, international banking, and access to one of the world’s best passport in terms of strength and visa-free travel. Also, St. Kitts and Nevis citizens benefit from being citizens of a Commonwealth country which gives them some rights in the UK including special student scholarships at many leading UK universities reserved for citizens of Commonwealth countries.
How strong is Saint Kitts and Nevis passport?
Saint Kitts and Nevis passport is ranked 26th among global passports, acquiring first place among Caribbean passports. It provides visa-free or visa on arrival access to 157 destinations.
Which countries can I visit with St. Kitts Nevis passport?
People holding St. Kitts and Nevis passports can visit many countries without the need to a visa including the Schengen Area, the UK, Russia, Singapore, Hong Kong, and many Latin American countries.
How to get Saint Kitts and Nevis passport?
The government authority is responsible for administering the program, while the Citizenship by Investment Unit (CIU) is responsible for processing all applications, and examining them thoroughly and if deemed necessary, may request the applicant to attend an interview although this is highly unlikely. The CIU undertakes strict due diligence checks and will decline an application if the applicant makes a false statement or omits any relevant information in the application. To obtain St. Kitts and Nevis passport applicants are required to make a contribution to the approved government fund or invest in a qualifying government-approved real estate property. Under the real estate option, the time frame may vary depending on the project. Therefore, it is important to select a real estate project that can provide the necessary paperwork required from the developer for the citizenship application.