St Kitts Residency by Investment
St Kitts Citizenship for investors is one of the oldest and most popular second citizenship programmes available. St Kitts and Nevis now offer a number of benefits to investors who wish to hold a second citizenship including visa-free access to the USA. There is also no requirement for a period of residency prior to citizenship being awarded.
Holding a second citizenship for St. Kitts and Nevis by investment is no longer the preserve of the few. Citizenship for Investment programmes are now the fastest growing area of immigration law globally as people come to realise residency and a second citizenship is not just desirable, but a vital part of any effective global freedom, privacy and security strategy.
At Sterling Migration, we are experts in the niche area of securing St Kitts and Nevis citizenship by investment. Our team strive to provide the most suitable investment opportunities to meet our clients needs to ensure they can secure their St Kitts citizenship and second passport under the current Saint Kitts and Nevis Citizenship by investment programme.
Citizenship For Investors St. Kitts
Several countries, including St. Kitts and Nevis, have adopted programs that allow the acquisition of citizenship based on an investment or a direct contribution to the state as a means of developing the country.
Background and Legal Considerations
The Citizenship Program of St. Christopher (St. Kitts) was established in 1984 and required applicants to make an economic contribution to the country. In exchange, they and their families are granted full citizenship.
For citizenship, the applicant must make either:
- A USD 400,000 investment in approved real estate.
- Make a USD 250,000 contribution to the Sugar Industry Diversification Foundation (SIDF, a public charity), which includes all government fees.
The regulations regarding citizenship-by-investment in St. Kitts and Nevis are contained in Part II, Section 3 (5) of the Citizenship Act, 1984. These provisions allow the Government to operate a program under which citizenship is granted to persons who qualify under criteria set by the cabinet decision.
Investor Visas and Citizenship
To qualify for citizenship under the real estate option, the Government requires applicants to make an investment in designated, officially approved real estate with a value of at least USD 400,000 plus the payment of government fees and other fees and taxes. As the application procedure under this option involves the purchase of real estate, this can lengthen the processing time depending on the chosen property. The real estate cannot be re-sold until 5 years after the purchase, but since introducing new regulations in 2012 the next buyer may also qualify for citizenship subject to diligence checking. A list of approved real-estate developments is published on the website of the Citizenship-by-Investment Unit of the Government of St. Kitts and Nevis.
Sterling Migration project manages all aspects of your investment and immigration case with our associates in St. Kitts. We provide a comprehensive overview of the available properties depending on the client’s situation and requirements. Complete our enquiry form to discover more.
Acquisition of citizenship under the SIDF option requires a contribution to the Sugar Industry Diversification Foundation. The SIDF option has been designed and implemented by the Government of St. Kitts and Nevis in 2006. The SIDF is now a significant contributor to the economic and social development of the country. The contribution is in the form of a one-time payment, and there are four different categories:
A. Single applicants who have to make a USD 250,000 non-refundable contribution, due diligence fee of USD 7,500
B. Applicants with up to three dependents (i.e. one spouse and two children below the age of 18): USD 300,000 contribution, plus due diligence fees
C. An applicant with up to five dependants (i.e. one spouse and four children): USD 350,000, plus due diligence fees
D. An applicant with up to seven dependants: USD 450,000, plus due diligence fees
E. Additional contribution for each dependent above seven: USD 50,000, due diligence fees of USD 4,000 per dependant aged 16 or older.
The documentation required for a SIDF application is the same as with the real-estate option and the application procedure is straightforward. The average processing time is currently 4 to 6 months. Sterling Migration, however, works closely with the Government of St. Kitts and Nevis not only to officially represent the Citizenship-by-Investment program internationally but also to help improve the program’s regulatory framework, processing time and efficiency.
St Kitts Dual citizenship For Investors
Citizens of St. Kitts and Nevis are allowed to hold dual citizenship, and the acquisition of citizenship is not reported to other countries.
When you acquire citizenship under St. Kitts and Nevis citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent.
As citizens of St. Kitts and Nevis, you and your family are issued passports which allow visa-free travel to more than 130 countries and territories worldwide, including all of the EU.
Of course, you have the right to take up residence in St. Kitts and Nevis and in most of the CARICOM member countries at any time and for any length of time. You are not liable for taxation, even if you decide to reside in St. Kitts and Nevis, as there are no direct personal taxes whatsoever.
Great care has been taken to provide the best possible safeguards for persons entering the programs.
Sterling Migration can handle applications under its Citizenship-by-Investment program. For the client’s protection, a written agreement is signed between the applicant and Haskew Law before accepting any mandate to handle an application.
The granting of citizenship is, of course, at the sole discretion of the Government of St. Kitts and Nevis. We cannot, therefore, guarantee that any applications will be approved. However, we check each applicant’s situation before accepting a mandate and prepare each application carefully.
As we handle all applications ourselves and do not use intermediaries, our clients can rely on us for utmost confidentiality and efficiency. Sterling Migration is a leading firm in this field. Individuals and other consulting and law firms rely on us for specialist advice and assistance in this area, where our expertise and experience are second to none.
St. Kitts Real Estate For Investors
St. Kitts and Nevis have only recently diversified from the sugar industry to high-end tourism, becoming one of the Caribbean’s most luxurious and popular destinations.
Once the current new developments under construction are completed, St. Kitts and Nevis will offer a range of properties, from exclusive 5-star cottages to lifestyle amenities on the superyacht marina.
Overall real estate prices in St. Kitts and Nevis remain low compared to other Caribbean islands and provide substantial room for capital appreciation. Our due diligence has found that between 2009-2012 apartment values gained between 5%-9% per annum, and select pre-construction resort investments increased between 7% – 12% per annum during the same period. These figures are based on 238 transactions during this period.
The latest data indicates an acceleration in property appreciation compared to recent Department of Inland Revenue statistics.
More facts about St. Kitts and Nevis
St. Kitts is 23 miles long and 5 miles across at its widest, encompassing 68 square miles. Nevis, the smaller island, lies to the south and is approximately 7 miles in diameter, covering 36 square miles. The two islands support a population of about 45,000, of whom about 9,000 live on the island of Nevis. Like no other islands in the Caribbean except Dominica, St. Kitts and Nevis embody a lush tropical paradise usually associated with the South Pacific. The ambience here is a blend of sunlight, sea air and abundant vegetation. At the centre of St. Kitts stands the spectacular cloud-fringed peak of Mount Liamuiga, a dormant volcano covered by dense tropical forest.
Although tourism plays a more minor role than other Caribbean islands, the twin-island Federation offers fine beaches and an outstandingly attractive mountainous landscape. The climate is tropical and close to perfect. Differences in altitude and corresponding differences in soil types make it a paradise for tropical plants. St. Kitts has a very well-designed championship golf course between the Caribbean Sea and the Atlantic Ocean, with a second golf course presently being constructed at Sandy Point, some 10 miles from Basseterre, the capital. There is also a beautiful golf course on Nevis. The truly appropriate motto of the tourism authority is two islands – one paradise.
In St. Kitts and Nevis, tourism is the most important growth sector and also offers good investment opportunities. While tourist facilities are being expanded, opportunities exist for foreign investors to participate in this expansion.
There are very good opportunities for the labour-intensive manufacturing of goods for export to the United States and the European Community, both of which allow reductions in import duties on certain goods manufactured in St. Kitts and Nevis. The workforce is well-educated and honest. The Government is very keen to promote new labour-intensive industries, and substantial tax breaks are offered to new investors.
In agriculture, there is good potential for introducing new high-value crops suitable for small-scale farming in lush tropical conditions. These can include orchids, specific varieties of fruits or nuts and other tropical plants for medicinal or perfumery purposes or for export as live plants.
The financial services industry of St. Kitts and Nevis is being developed on the foundations set by new legislation passed for registering companies, foundations, trusts, international insurance and trust service providers. It is expected that St. Kitts and Nevis will eventually take its place as a centre for offshore services, contributing significantly to the local economy in the future. Our team is in the best position to assist you in all matters involving financial services in both jurisdictions.
Our Services For St. Kitts and Nevis
Our team has been helping foreign nationals acquire citizenship through the Citizenship-by-Investment Program for nearly 20 years.
The changes introduced by the Government in 2007, including the creation of a dedicated Citizenship-by-Investment Unit, the streamlining of processes, redesign of application forms and procedures and the careful international promotion of the program, made St. Kitts and Nevis Citizenship-by-Investment program one of the most successful programs in the world until a few years ago.
We frequently assist other firms and their clients with the unique and specific details required by the acquisition of citizenship under the Citizenship-by-Investment program.
Individual clients and other consulting and law firms worldwide rely on us for professional advice and assistance in this delicate area where our expertise and experience are second to none.
Suppose you would prefer to invest in a country that will provide a high standard of living and an excellent return on your investment. In that case, the Australian 188 Visa programme for investors is another popular option.
Fees and Costs
Fees are charged depending on the case, the number of persons included in an application, and whether the real-estate or SIDF option is chosen. The full agreed fee (less any retainer paid initially) is paid into an escrow account in advance and is released when the application is submitted to the Government.
Please enquire for further information on what fees would apply in your case.