8 THINGS YOU NEED TO KNOW OF ST. KITTS & NEVIS
St. Kitts and Nevis is a federation consisting of two islands, located in the Leeward Islands in the Eastern Caribbean. This idyllic setting has earned the islands a reputation as the back garden of North America. Tourism is the main pillar industry.
In addition, St. Kitts and Nevis is also known as the world’s offshore financial center and tax haven. St. Kitts and Nevis is a member of the Caribbean Community, the Organization of American States and the Commonwealth.
According to The Saint Christopher (St. Kitts) and Nevis Citizenship Act, 1984, Part II, Section 3 (5), foreigners who have made significant economic contributions to the Federation of St. Kitts and Nevis shall be granted the civic rights of the country.
As of January 2012, the Government of St. Kitts and Nevis has increased investment amount. To qualify for citizenship of St. Kitts and Nevis under its Citizenship-by-Investment Program, there are 2 options:
1. A non-refundable charitable donation of at least US$250,000 to the Sugar Industry Diversification Foundation (SIDF)
plus payment of processing fees.
2. A designated recoverable real estate Investment approved by the government with a value of at least US$400,000 plus
payment of various registration and other fees.
Note: The real estate option is a recoverable investment, however, you can only sell your property after 5 years.
The passport issued is valid for 10 years, and can be renewed thereafter.
8 THINGS YOU NEVER KNEW OF ST. KITTS & NEVIS
#1: The St. Kitts And Nevis Citizenship-By-Investment Program Are Sold As One for residency and citizenship in both countries.
#2: St. Kitts Citizenship-By-Investment Program is one of the lowest investment of just $250,000 USD.
#3: St. Kitts and Nevis Citizenship-By-Investment Program is one of the longest-standing programs since 1984.
#4: You can Invest In Real Estate at a cost of $400,000 USD plus applicable fees, but takes longer to process, as you are required to hold ownership of the property for a minimum of five years.
#5: You Don’t Have To Pay Full Price For Your Dependents, when contributing to the Sugar Industry Diversification Fund
- For an adult, their spouse, and 2 dependent children, you can expect to pay $300,000.
- For an adult, their spouse, and 4 other dependents, it will cost $350,000.
- For seven dependents, you can expect to pay $450,000.
- It is important to note, however, that this amount does not include due diligence fees required for dependents over the age of 16, which is an additional $4,000 per applicant.
#6: You do not even have to speak English to become a citizen. Additionally, you can hold citizenship in St. Kitts and Nevis without renouncing citizenship in your home country. It is beneficial if you are interested in dual citizenship as a means to leave the country in the event of war or political crisis.
#7: You Have Tax Benefits – Whether you are holding dual residency, or residing solely in St. Kitts or Nevis, you are not required to pay Taxes, as the country does not charge its citizens direct personal taxes
#8: Benefits For Citizens – When you choose legal citizenship through the Nevis and St. Kitts citizenship options, you become a legal citizen for life and any of the future generations born after your citizenship has been legalized are also full citizens of the country.