What is Citizenship by Investment?
A Citizenship by Investment (CBI) program, also known as economic citizenship, involves obtaining citizenship in a foreign country in exchange for making a significant investment. To participate in a CBI program, an applicant must typically:
- 1. Make a non-refundable donation
- 2. Invest in government-approved real estate
- 3. Purchase government financial instruments
- 4. Establish and operate a company
The process involves submitting an application, providing required documents, and making an investment as specified by the program. Upon approval, the applicant will receive a certificate of naturalization and full citizenship, including a passport that can be used for travel, work, and residency abroad.
St Kitts & Nevis Citizenship by Investment Summary
St. Kitts & Nevis Citizenship by Investment Program allows individuals to gain citizenship in exchange for an investment in the country, either by real estate purchase or a contribution to the Sugar Industry Diversification Foundation (SIDF). The investment starts at $150,000 for a single applicant, with processing fees and due diligence costs added. The program offers visa-free travel to over 160 countries, including the UK and EU Schengen area, and a low tax jurisdiction. The citizenship is granted to the applicant, their spouse and children under the age of 30.
How to obtain a St Kitts Passport
The St. Kitts & Nevis Citizenship by Investment Program offers two main investment options:
- Sustainable Growth Fund (SGF): A non-refundable contribution of $150,000 for a single applicant to the Sustainable Growth Fund (SGF), increasing to $195,000 for a family of four.
There are additional fees to keep in mind which will be used to pay for the due diligence process:
- $7,500 for main applicant
- $4,000 for any dependent over the age of 16
2. Real Estate Investment: An investment of at least $200,000 in a pre-approved real estate project for a minimum of 5 years.
Unlike the donation route which only has due diligence fees charged, the real estate investment route has expensive government fees:
- $35,050 for main applicant
- $20,050 for spouse of main applicant
- $40,000 for any sibling of main applicant
- $10,050 other dependant regardless of age
Retain St Kitts Passport: Maintain both options for 5 years minimum
Pros and Cons of a St Kitts Passport
The benefits of obtaining a St Kitts Passport
A St. Kitts & Nevis passport offers several benefits, including:
- Visa-free travel: Access to over 160 countries, including the UK and EU Schengen area, without the need for a prior visa.
- Tax benefits: St. Kitts & Nevis is a low tax jurisdiction with no taxes on worldwide income, capital gains, or inheritance.
- Dual citizenship: The citizenship program allows for dual citizenship, allowing the holder to retain their current citizenship while acquiring a second passport.
- Fast processing time: The process of obtaining citizenship through the St. Kitts & Nevis Citizenship by Investment Program is typically fast, with processing times of 4-6 months.
- Lifestyle benefits: St. Kitts & Nevis is known for its pristine beaches, lush tropical landscapes, and vibrant culture, making it a popular destination for retirees and second-home owners.
- Security and stability: St. Kitts & Nevis is a politically stable country with a strong rule of law, providing a secure environment for citizens and their families.
The cons of obtaining a St Kitts Passport
The St. Kitts & Nevis Citizenship by Investment Program has some cons, including:
- Cost: The investment required to obtain citizenship is substantial, starting at $150,000 for a single applicant and $195,000 for a family of four.
- Due diligence costs: The government of St. Kitts & Nevis conducts strict due diligence checks, which come at a cost and can add several thousand dollars to the overall investment.
- Limited mobility: Despite offering visa-free travel to over 160 countries, St. Kitts & Nevis citizens still face restrictions and may require visas for some countries, such as Canada and Australia.
- Residency requirements: While the program does not require residency for citizenship, it is advisable to spend some time in the country to fully enjoy the benefits of citizenship.
- Political instability: Although St. Kitts & Nevis is considered a politically stable country, the situation in the Caribbean region can be unpredictable and subject to change.
- Reputation: Some countries view citizenship by investment programs as a way to obtain a “second passport” for purposes such as tax avoidance, which can harm the reputation of the country and its citizens.
St Kitts Passport Application Process
The application process for the St. Kitts & Nevis Citizenship by Investment Program involves the following steps:
- Choose an Authorized Agent: Select a reputable, authorized agent to assist you with the application process.
- Submit a Pre-Application Form: Complete and submit a pre-application form to the government of St. Kitts & Nevis to determine eligibility.
- Provide Supporting Documents: Provide the required supporting documents, including proof of identity, police clearance certificates, and medical certificates.
- Make an Investment: Choose one of the approved investment options, either a contribution to the Sugar Industry Diversification Foundation (SIDF) or the purchase of approved real estate.
- Undergo Due Diligence: All applicants must undergo a due diligence process to verify their identity, background, and financial status.
- Receive Approval: Once the application is approved and the investment is made, the government will issue a certificate of naturalization.
- Obtain Passports: After obtaining citizenship, applicants can apply for a St Kitts passport(H2) from the government of St. Kitts & Nevis.
The processing time for St. Kitts & Nevis CBI applications is typically 4-6 months. It is important to work with a reputable agent and to ensure that all required documents and information are submitted accurately to avoid delays in the process.
