Caribbean citizenship became popular among tourists and travelers after the release of the famous film “Pirates of the Caribbean”. However, the Caribbean islands can be attractive not only for their swank resorts, white beaches, and warm transparent sea. The islands can be useful for those who run a business and think about the future. Here, the Citizenship by Investment program and Caribbean passport can become a path to a better life.
Today we are going to take a closer look at how to obtain Saint Kitts & Nevis citizenship. And experts of the immigration company Imperial & Legal will help us.
Why should you choose St Kitts & Nevis?
This small state, consisting of two islands in the Caribbean, has several important advantages.
Firstly, the oldest program has been operating here for over 35 years. And it means that all procedures run like clockwork, and you cannot be afraid of any unexpected difficulties.
Secondly, Saint Kitts & Nevis’s citizenship is not expensive, even if we compare it to other Caribbean countries. It costs $ 150,000 – $ 200,000 – depending on the chosen investment method.
Thirdly, absolutely everything here is done remotely. To obtain citizenship, you don’t even need to arrive on the islands. All actions – to file documents, transferer money and checkups can be carried out remotely. And the passport will be sent to the applicant by mail.
What are the benefits of Saint Kitts & Nevis citizenship?
So, here is the most important part of the article. Why would you need it? We will break it down as follows:
1. Visa-free travel to many countries
Saint Kitts & Nevis has visa-free travel arrangements with more than 150 states. Moreover, these are not only exotic unknown countries but also the largest world powers – Great Britain, Germany, France, Israel, Singapore, and many others. It means you won’t have any problems while traveling with Saint Kitts & Nevis’s passport. You won’t waste time on tedious visits to consulates every time. The entire European Union, Latin America, South Asia, and other parts of the world will be open for you.
2. Visa facilitation with the USA
Although the USA did not open the borders for Caribbean tourists completely, you will still have some benefits. You can obtain a tourist or a business visa not for three years, but immediately for 10 years. If you have this type of visa, you can stay in the USA for up to 180 days during each visit to America.
3. Running a business at the international level
If you have Saint Kitts & Nevis citizenship, you have the right to open companies and register legal accounts on the island. It can be important for those partners, who normally do not want to cooperate with the countries of the Third World.
4. Safety for your business
This point is connected with the previous one. If a company is registered in another country, then the local authorities will not be able to track transactions, block its bank accounts, and confiscate property. It also protects against raider seizure of the business because your competitors won’t be able to re-register the company, using fictitious documents and bribing officials.
5. Tax optimization
It is easier to run a business under the jurisdiction of Saint Kitts & Nevis because the tax regime is much softer. In simple terms, here is where offshore companies are opened.
The foreign income of such companies is not taxed. It is a significant advantage of Saint Kitts & Nevis citizenship, which is enjoyed by many entrepreneurs. Also, there are no taxes on dividends, capital gains, inherited or donated funds.
6. Safety for you and your family
Unfortunately, nowadays the situation in many countries is not calm and stable. Economic and political crises are constantly occurring. Those who are engaged in business or social activities especially suffer from them. For such people, the ability to leave the country quickly to a safe place can save them not only their freedom but sometimes their lives.
Of course, Saint Kitts & Nevis has many other advantages. For example, it is the opportunity to come to this paradise at any time and spend your holidays in the best resorts, and doubts will disappear.
How much money do you need for the Citizenship by Investment program?
The main principle by which you can become a full member of this country is the investment of financial resources in the country’s economy. There are 2 options: a cheap and non-refundable one and a more expensive one but with the ability to get your money back in a few years.
Contribution to the Sustainable Growth Fund – from $ 150,000
This is a one-off investment that will be used for the development of socially significant spheres – education, health care, culture, etc.
Purchase of property- from $ 200,000
Usually, businessmen buy objects related to the tourist infrastructure such as hotels or shares in them, bungalows, flats, entertainment complexes, etc. You can sell them in 5-7 years. All this time, the owner will receive dividends from them if the property is rented out and is in demand among tourists.
Saint Kitts citizenship in both cases is given indefinitely and can be inherited. It means, after the sale of a property, it can’t be annulled.
Are there additional costs?
There are some costs to which you should pay extra attention while you plan your budget:
- Due diligence – $ 7500. This is a mandatory procedure. The authorities must be sure in the applicant’s past, that he/she did not have problems with the law, he/she has the right to enter other countries and the money he/she is going to invest is received in an honest way.
- State fee – $ 35050. It is relevant only for those who acquire a Saint Kitts and Nevis passport for property investment.
- Payment of the agent – variable. It is not possible to apply for citizenship personally. It can be done with the help of a licensed agent. As a rule, such licenses are held by large immigration companies that have been operating on the market for a long time. In particular, Imperial & Legal is one of them. The company kindly shared with us all the details of obtaining Caribbean citizenship.
It should be noted that all agreed amounts are relevant for one applicant. If the applicant wants to include their family, then the sum will differ.
For example, for a family of four (parents and two minor children), the total cost of the non-refundable option will be $ 206,500, and for the option with property investment – $ 286,500. For this money, all family members will receive Saint Kitts & Nevis life-long citizenship.
You can also add elderly parents, adult children, and some other relatives to the application. Then, in each case, the amount will be calculated separately.
How much time does it take to obtain a passport?
On average, the whole process takes 3-4 months. And if necessary, you can use an accelerated procedure and reduce this period to 45-60 days. For comparison, in the UK you would need to wait 5-6 years for citizenship, and you would have to invest at least two million pounds.
There are several stages to obtain Saint Kitts & Nevis citizenship:
- Preparation of papers and filling out an application – 1-2 weeks. An investor must provide all the necessary inquiries and extracts according to the list. The agent will transfer, prepare, and submit them.
- Due diligence takes 3-4 months (or faster if you pay extra for urgency). The Department of State will carry this out. Upon completion, an official notification will be sent.
- Investment – 2-4 weeks. During this time, it is necessary to transfer money to the Sustainable Development Fund or purchase the agreed property.
- To obtain Saint Kitts & Nevis’s passport takes 1-2 weeks. If the applicant cannot arrive personally, it will be transferred by a courier.
After completing all these procedures, you become a full-right citizen of the country and can enjoy all the privileges.