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St Kitts & Nevis Economic Citizenship Cost Reduction Plus a Brief Jurisdiction Summary

St Kitts & Nevis

Nevis is an attractive international jurisdiction for citizenship, international business corporations and trusts.

The temporary cost reductions, introduced in July, regarding St Kitts & Nevis Economic Citizenship, provide an additional incentive to consider this programme. However, you only have until 15 January 2021, to take advantage of the reduced costs.

  • Costs for a family of four, following the ‘Donation Route’, have been reduced from US$195,000 to US$150,000. Stamp duty on property purchases, relevant to the two other investment routes, has been reduced from 10% to 2.5%.

What are the St Kitts & Nevis Citizenship by Investment Routes?

There are three investment routes available, to gain St Kitts & Nevis Economic Citizenship:

Option 1: Sustainable Growth Fund (SGF) Contribution

  • A single applicant can make a contribution of US$150,000 to the Sustainable Growth Fund (SGF).
  • Between 1 July 2020 and 15 January 2021, the citizenship contribution for a family of four has been reduced from US$195,000 to US$150,000 per family.

For additional dependants, regardless of age, the contribution requirement is US$10,000 per dependant.

Option 2: Approved Property Development

  • Investment of a minimum US$400,000 in an approved property development. The property must be held for a minimum of 5 years after the citizenship has been granted.
  • Between 1 July 2020 and 15 January 2021, stamp duty has been reduced from 10% to 2.5%.

A registration fee is payable by the applicant and additional fees are required for the spouse, children under the age of 18 and additional family members over the age of 18.

If this route is selected, the Dixcart office in Nevis can help organise management services, if the property is rented out. The property can be sold on after 5 years.

Option 3: Luxury Real Estate

  • Investment of a minimum US$200,000 in new luxury real estate. The property must be held for a minimum of 7 years, after the citizenship has been granted.
  • The St Kitts & Nevis Government have announced that between 1 July 2020 and 15 January 2021, stamp duty will be reduced from 10% to 2.5%.

A registration fee is payable by the applicant and additional fees are required for the spouse, children under the age of 18 and any additional family members over the age of 18.

Advantages: St Kitts & Nevis Economic Citizenship Programme

A St Kitts & Nevis passport can provide a relatively fast option to ease  travel and to gain residence, if required, whilst plans are being made to live elsewhere. Naturally, successful applicants can choose to move to St Kitts & Nevis.

Applicants do not need to visit St Kitts & Nevis in order to apply for a St Kitts & Nevis passport. They do, however, need to use an approved intermediary on the island, such as Dixcart, to coordinate the application.

There are NO conditions attached to a St Kitts & Nevis passport in terms of the number of days that need to be spent on St Kitts & Nevis. Other advantages include:

  • Visa-free access to over 130 countries around the world including Europe, UK, Hong Kong, Russia, Ukraine, India and Switzerland.
  • Fast processing times; approval can be achieved in between 45 to 60 days using the ‘accelerated process’ and 90 to 120 days with standard processing.
  • Inclusion of dependant children up to the age of 30.
  • Inclusion of dependant parents from the age of 55.
  • Sponsorship of common law partners.
  • Ability to pass citizenship on to children.

Additional Advantages Offered by the Jurisdiction of St Kitts & Nevis

Nevis offers a number of benefits as an International business centre. It does not levy VAT or other indirect taxes in relation to Nevis International Business Corporations (IBCs), and there is NO personal income tax, NO capital gains tax, NO wealth tax, and NO death duty or inheritance tax.

Nevis Structures and their Key Benefits:

  • IBC – International Business Corporation  
    • Sole directors allowed (both personal and corporate).
    • Incorporated in 24 to 48 hours.
    • Easy to setup and maintain, private and cost effective.
    • Ability to have documents legalised in the UAE, due to the St Kitts Consulate in Dubai.
    • Certificates of Good Standing/Incumbency can be notarised and apostilled in under 24 hours.
  • LLC – Limited Liability Company
    • A legal entity with separate rights and liabilities, distinct from its managers and members, which is liable for its own debts, obligations and liabilities.
    • Can be used for any legal purpose, including financing US and non-US operations, real estate holding, manufacturing and investment vehicles for international trusts.
    • Incorporated in 24 to 48 hours.
    • Foreign LLCs may convert to become a Nevis LLC through use of a simple conversion plan.
    • Foreign entities may convert to become a Nevis LLC after redomiciling to Nevis.
    • Extra protection can be gained by stating that ‘the explicit naming of a member or manager in a legal action being brought against the company is legal grounds for dismissal or at least for a motion of misjoinder’.
  • PTC – Private Trustee Company
    • No licence required to act as trustee (for private family arrangements).
    • Incorporated in 24 to 48 hours with sole directors allowed (both personal and corporate).
    • Can be owned either by a purpose trust or by the settlor.
    • Ability to have a representative of the underlying asset companies on the Board of the PTC and it is relatively easy to replace the Board and therefore the effective trustees, if necessary.
  • Nevis International Trusts
    • Registered in 24 to 48 hours.
    • Cannot be declared void, voidable or defective by reason of any forced heirship rules of the Settlor’s domicile, residence, place of current incorporation, formation or establishment.
    • No rule against perpetuity unless otherwise provided for; the international trust can therefore have unlimited duration.
    • Foreign judgements are not enforceable in Nevis.  Any civil action to recover assets would need to be brought, in addition, in the Courts of St Kitts & Nevis.
    • A deposit of $100,000 must be paid before creditor action can be taken.
    • If the Protector has the authority to direct the Trustees to make and approve distributions, or to direct the Trustees to make particular investments, statutory protection is given to the Trustees for acting on the direction of the Protector, in the absence of willful misconduct.
  • Multiform Foundations
    • Asset protection and succession planning opportunities.
    • Can be set up for estate planning, charity, financing and special investment holding arrangements.
    • Can take the form of a foundation, a company, a trust or a partnership.
    • The ordinance allows for entities to be converted or transformed, continued or consolidated and merged into Nevis Multiform Foundations.

Additional Information

Nevis offers a number of attractive international entities and an appealing Economic Citizenship Programme. If you require additional information, please contact Graham Sutcliffe at our office in Nevis advice.nevis@dixcart.com or your usual Dixcart contact.

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