The beautiful tropical paradise of St. Kitts and Nevis is a gem in the Caribbean for both tourists and investors.
This two-island nation nestled between the Atlantic Ocean and the Caribbean Sea holds many natural wonders. However, what attracts more investors into the country is the advantageous St. Kitts and Nevis citizenship by investment (CBI) program.
Here, you will learn what makes the dual-island nation a great place to live in:
1. Affordable citizenship
St. Kitts and Nevis has one of the most affordable citizenships in the Caribbean. It also offers two pathways to acquire a second passport:
Sustainable Growth Fund (SGF) Donation
Considered one of the easiest routes to citizenship in St. Kitts and Nevis, applicants can contribute at least $150,000 to the country’s Sustainable Growth Fund (SGF).
Take note, however, that the amount may change depending on the number of dependents you’re planning to bring along (discussed in greater detail in item no. 8).
Upon submitting your application via authorized agents, you’ll also be asked to pay processing and due diligence fees, amounting to $7,500 for the main applicant and $4,000 for every dependent aged 17 years old and above.
Real Estate Investment
Another citizenship by investment pathway you can take is through real estate investment on pre-approved real estate. Some projects include villas, condominium units, hotel shares, and many others.
According to St. Kitts law, you need to invest at least $200,000 (held within seven years) or $400,000 (held within five years) to qualify as the primary applicant.
Like the SGF contribution, you’ll also need to pay processing and due diligence fees, which are both non refundable.
Take note that there may also be other costs attached to the real estate purchase, like conveyance fees and compulsory insurance fund payments.
2. Relatively lower cost of living
Many expats who move to St. Kitts and Nevis notice that the cost of living there is significantly lower than in many developed countries.
Depending on the source, grocery costs can be much cheaper, especially food produced locally, such as:
- Vegetables
- Fruits
- Local chicken
- Eggs
- Rice
Some imported products like coffee, milk, and white bread could cost a tad higher, though the country makes up for it with tax exemptions (see item no. 7).
In terms of rent, the rate depends on the area. For example, you’ll need about $600 to rent a one-bedroom apartment located in the city center. But if you move farther away from the city, you’ll spend around $370 for a unit of the same size.
Of course, you wouldn’t even have to pay for the rent if you have invested in real estate.
The transportation cost is also relatively cheaper in St. Kitts and Nevis. You can get around town using a well-developed bus network or taxis without busting your budget.
3. Fast citizenship application processing
When it comes to residence and citizenship planning, knowing the length of application processing is vital. In this aspect, St. Kitts and Nevis has the most significant advantage.
Although other CBI programs in the Caribbean have short processing periods, none is as quick as St. Kitts. In fact, you can get your passport from this West Indies nation in just a matter of days (45 to 60 days to be exact) via the 60-day Accelerated Application Process (AAP)
Take note that you still need to meet all the qualifications and submit the required documents for citizenship by investment, even if you’re applying via the AAP.
After that, the processing of your application will be accelerated through the Due Diligence Providers, Citizenship by Investment Unit, and St. Kitts and Nevis Passport Office.
4. No residency requirements
Unlike other CBI programs in the world, St. Kitts and Nevis does not require applicants to spend any minimum amount of time in either of the two islands of the country. Even without setting foot here, applicants can qualify for the program and accrue the benefits of the nationality provided other qualifications are met.
Of course, there’s no stopping anyone who wishes to visit, let alone live in the country. It is a tropical paradise with gorgeous beaches, a warm climate, and sparkling turquoise seas, after all.
5. Visa-free travel access
Even with no residency requirement, a lower cost of living, fast application processing, and affordable citizenship by investment, St. Kitts and Nevis can still offer more to those aspiring to become economic citizens of the country. One of these benefits is unhindered travel across the world.
With just your St. Kitts passport, you can gain visa-free access to 156 countries, including the United Kingdom, Singapore, and Schengen states. You may also get long-term visas to North American countries like the United States and Canada.
6. Complete confidentiality and privacy
Many CIB applicants choose St. Kitts for the level of privacy the country can offer.
In fact, this tiny dual-island state upholds complete confidentiality about its citizens and any third-party assets they may have inside or outside the country. This means that your involvement with the St. Kitts and Nevis CIB program can remain a secret.
7. Taxation and business perks
With no dividends, income, inheritance, gift, or capital gains taxes, St. Kitts has one of the most favorable taxation systems globally. Property taxes are quite low for residents of the country, too.
Plus, the dual-island state is overflowing with business opportunities. The tourism sector is particularly developed, with limitless doors and windows opening for international companies registered in the country.
And with the naturally blessed islands of St. Kitts and Nevis becoming more popular with tourists day-by-day, foreign money continues to flow through the local infrastructure and into the lives of its citizens.
8. Citizenship for the whole family
St. Kitts and Nevis also welcomes families who are planning to relocate to the country.
Qualified dependents you can bring along when relocating to the country include your:
- Legal spouse
- Dependent children under 30 years old
- Dependent parents over 55 years old
- Financially dependent siblings under 30 years old and with no children
For the SGF contribution, the primary applicant can bring up to three dependents (e.g., a spouse with two children). To cover for their St. Kitts citizenship, a non-refundable donation to the SGF worth $195,000 should be made.
If you have a family of over four members, you need to donate $10,000 more for every additional dependent, regardless of their age.
For real estate investment, you will be required to pay for additional due diligence and processing fees worth $7,500 for the primary applicant and $4,500 for every dependent aged 17 years old and above.
Also, a government fee applies upon the approval in principle of your real estate investment. This amounts to $35,050 for the principal applicant, $20,050 for the dependent spouse, and $10,050 for every qualified dependent of any age.
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Enjoy the Caribbean island life in St. Kitts and Nevis
St. Kitts and Nevis could serve as a great alternative country to live in.
With all the benefits listed here, it’s not surprising that more and more people are deciding to live in this twin-island nation.
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