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St Kitts & Nevis Economic Citizenship: How and Why?
Relocation or Second Passport?
A primary reason to apply for St Kitts & Nevis citizenship is a desire to move to this Caribbean Island.
An alternative objective may be to hold a second passport. Finally, there may be an initial need to hold a second passport with a longer-term objective of potentially moving to St Kitts & Nevis.
Individuals and families are becoming increasingly mobile and the ability to hold a second passport, such as a St Kitts and Nevis passport, is becoming more relevant. The Caribbean is an attractive destination for a number of reasons, including the relaxing lifestyle, beautiful scenery and the climate.
Dixcart is a licensed Service Provider for the St Kitts & Nevis Citizenship by Investment scheme and can assist with all aspects relating to an application.
Advantages of St Kitts & Nevis Citizenship
- Passport holders enjoy full Schengen privileges and do not require a visa to visit the UK. A St Kitts & Nevis passport enables travel to approximately 156 countries worldwide either on a visa free or visa on entry basis.
- The ability is available to reside in another CARICOM country, as listed below: Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St Kitts & Nevis, St Vincent & Grenadines, Suriname and Trinidad & Tobago.
- The following taxes are NOT levied in St Kitts & Nevis: personal income tax, gift tax, death duties, estate taxes, inheritance tax or capital gains tax on worldwide income.
- A single application can include dependent children up to a maximum age of 30, dependent parents with a minimum age of 55, and unmarried, dependent siblings up to the age of 30.
- There is a fast track process which enables applicants to receive a St Kitts & Nevis passport in 45 days.
- The St Kitts & Nevis citizenship by investment scheme Is one of the oldest citizenship by investment programmes in the world and is recognised as being platinum standard.
- The application process is simple and Dixcart can assist with the collection and completion of the various forms and information. Please follow the link below to access details of the initial information required: Dixcart/Nevis-CBI-information-needed
Advantages Relating to a Second Passport
There are a number of reasons why holding a second passport can be advantageous.
This may offer insurance against political, economic or fiscal change in the individual’s country of origin.
In addition, international travel might well be made easier. Nationals of many countries have to endure lengthy waiting periods to obtain visas for travel. This may be because they are nationals of a developing country or there may be animosity between their country and another.
In addition, holding a second passport might present new opportunities for the tax structuring of personal tax affairs. Generally, an individual’s residence and citizenship are the ultimate basis for the majority of taxation rulings.
St Kitts & Nevis Citizenship by Investment – Two Routes
There are two major investment routes:
1. Sustainable Growth Fund (SGF) Contribution
- A single applicant can make a one-off contribution of US$150,000 to the Sustainable Growth Fund (SGF).
- For a family of four, the required contribution is US$195,000.
- Additional dependants (children or parents); the contribution requirement is US$10,000 per dependant.
- The addition of a sibling under the Sustainable Growth Fund, is US$20,000 per sibling.
2. Real Estate Investment
There are two options available for applicants seeking to qualify for citizenship by investing in real estate: by investing in a pre-approved real estate development or, through the purchase of a qualifying private residential property.
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.
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. The addition of a sibling is US$40,000.
If this route is selected, the Dixcart office in Nevis can also help source management services for the property, which can be sold on after 5 years.
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.
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. The addition of a sibling is US$40,000.
- Unmarried, dependent children who are older than 18, but younger than 30 may be included in the application.
- Dependant parents aged 55 or above may also be included.
- Siblings may be added to the application if he/she is the brother or sister of either the main applicant or his/her spouse, is unmarried and childless, under the age of 30, and dependent on the applicant for financial support.
- Citizenship can be passed on to future generations by descent.
The processing time for either of the two routes above, to gain St Kitts & Nevis Citizenship is approximately 3 months. For an additional investment, however, the application can be fast-tracked and the passport received in approximately 45 days.
There is the ability to sponsor applicants. A direct relative can sponsor another direct relative and a common law partner can sponsor another common law partner. Further information can be provided on request.
Dixcart is a licensed Service Provider for the St Kitts & Nevis Citizenship by Investment programme and can provide comprehensive details of the alternative application routes available, any additional fees that might be required, and assist with the coordination of applications.
If you would like additional information regarding the St Kitts & Nevis Economic Citizenship Programme, please contact: John Mellor at our office in Nevis: email@example.com or your usual Dixcart contact.