Why Consider a Second Passport?
In the last decade, people have become increasingly concerned regarding safety and personal/economic growth in relation to themselves and their families. This has helped motivate the emergence of the modern phenomenon: the ‘World Citizen’. Families are increasingly making the brave decision to either gain new nationality or obtain additional nationality, in order to enhance their lives and safety.
Why?
There are numerous reasons why an individual or a family might consider taking an additional or alternative nationality, these include:
- Applicants and their families appreciate the travel freedoms a new nationality can offer.
- To have a second passport as a form of personal safety and security in times of political and social instability. “A safe harbour in a storm”.
- A wish to relocate to an attractive destination, with a warm climate, such as St Kitts & Nevis in the Caribbean, for an enhanced lifestyle and/or to take advantage of wealth planning opportunities.
- Some families simply do not wish to maintain their current citizenship, as they have fallen ‘out of love’ with the way in which their country of origin is developing.
Key Benefits Offered by Holding a St Kitts & Nevis Passport
A St Kitts & Nevis passport can include a wide breadth of dependants, provides extensive travel options, and does not require a visit to the island:
- A single application can include children up to a maximum age of 30 and parents with a minimum age of 55 and unmarried, dependent siblings up to the age of 30.
- St Kitts & Nevis Citizenship guarantees receipt of a St Kitts & Nevis passport, with full Schengen travel rights throughout Europe. Full Schengen privileges means that holders can travel to approximately 152 countries worldwide, either on a visa free, or visa on entry basis.
What are the Criteria to Obtain a St Kitts & Nevis Passport?
The St Kitts & Nevis Citizenship by Investment Programme enables citizenship and therefore a passport, to be obtained by individuals choosing one of three alternative investment programmes:
Option 1: 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 help source management services for the property, which can be sold 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.
Option 2: Sustainable Growth Fund (SGF) Contribution
- A single applicant can make a contribution of US$150,000 to the Sustainable Growth Fund (SGF). The contribution for a family of up to four is US$195,000. For additional dependants (children or parents), the contribution requirement is US$10,000 per dependant. The addition of a sibling under the Sustainable Growth Fund, will be US$20,000.
Option 3: Alternative Investment Option (AIO)
Applicants have the option to invest in an alternative project that has been approved by the St Kitts & Nevis Government. Alternative Investment projects can be Government or privately owned.
- An investment of US$175,000 for up to a family of four, in a Public Good Project Developer (PGPD) project which is fully funded by the PGPD. All other fees will apply as per the real estate option.
- An investment of US$200,000 for up to a family of four in a Private Enterprise Developer (PED), where the built or funded asset is privately owned. Standard real estate government fees also apply.
The addition of a sibling under the AIO, will be US$20,000.
For additional dependants (children or parents), the contribution requirement is US$10,000 per dependant.
Potential projects should be identified by the Government or can be suggested by private individuals with access to financing who approach the Government with potential projects that are not already on the Government’s infrastructure list. Once the asset has been completed and operated for a reasonable period of time (that allows for a reasonable return on investment) must be turned over to the Government in a maintained condition consistent with prudent ownership.
Additional Advantages of Holding a St Kitts & Nevis Passport
- There is no personal income tax, no gift tax, no death duties, no estate tax, no inheritance tax and no capital gains tax on worldwide income.
- The passport allows the holder to reside in other Caribbean Community countries (Caricom) if they wish to do so. There are 15 Caricom member states.
Accelerated Application Process
In 2016, the St Kitts & Nevis Government approved a 60-day accelerated application process (AAP). Applicants can benefit from an enhanced process time, in some cases, as little as 45 days. The costs associated with AAP, which include due diligence and passport fees, are:
- Main applicant: US$25,000
- Dependant older than 16 years: US$20,000
- Dependant younger than 16 years: US$500
Sponsorship
Under certain conditions, it is possible to sponsor family members, to qualify for Citizenship, for example:
- Common Law Partners
- Children of the main applicant that do not qualify as dependants.
- Parents of the main applicant that do not qualify as dependants.
The sponsor and the individual being sponsored must be direct relatives and the sponsor must complete forms, pay a due diligence fee of$7,500, and provide evidence regarding the identity and source of wealth/funds of the individual being sponsored.
Additional Information
Dixcart is a licensed Service Provider for the St Kitts & Nevis Citizenship by Investment Programme and can provide comprehensive details regarding the alternative application routes available, additional fees that might be required, and assist with coordination of the application.
If you would like additional information regarding the St Kitts & Nevis Economic Citizenship Programme please contact John Mellor at our office in Nevis: advice.nevis@dixcart.com or your usual Dixcart contact.
