What are the main benefits and attractions of citizenship in St. Kitts and
Nevis?
St. Kitts and Nevis is a very pleasant place to live and work. The climate is
pleasant year-round and setting up a business and working in St. Kitts and
Nevis is very easy. There is no personal income tax. The country has a very
stable democracy and crime is relatively low. Modern healthcare facilities
have been opened with planned expansions actively underway. Education is
free in all public schools and there are also private and international schools
for families that migrate to the Federation with their children who desire
more options.
What are the biggest hurdles investors face when applying for the
programme?
The biggest obstacle that investors face is ensuring that they have the
economic means to apply to be citizens of St. Kitts and Nevis. Although there
may be attractive offers to obtain citizenship, applicants must provide proof
that they are able to financially support themselves and their family and that
they have sufficient funds to meet the minimum investment requirements
for the programme (US$150,000 – US$200,000).
Persons who have a criminal background or are being actively investigated
for any criminal activity will not be approved by the Citizenship by Investment
Unit. The background check is thorough. This process is necessary to ensure
the integrity of the programme.
Why is the St. Kitts and Nevis the programme is so attractive for
investors?
The programme was the first of this kind in the world. St. Kitts and Nevis is
the pioneer of citizenship by investment programmes. The CBI programme
was launched in 1984 and the model has been copied by many jurisdictions
around the world.
The strength of the St. The Kitts and Nevis passport allows visa free travel to
over 150 countries. It is also an appealing factor for potential investors, and St.
Kitts and Nevis has plenty to offer. Real estate options in the Federation are
very appealing as it is a solid investment with good resale value.
What are the tax advantages of being a citizen of St Kitts and Nevis?
There is no personal income tax in St. Kitts and Nevis. The Government is
currently revising its tax laws and engaging in consultations to undergo
corporate tax reform aimed at attracting more commercial businesses to
directly set up and operate in the country.
The longevity and stability of the programme is important to investors
Persons prefer to apply for citizenship in a country which has a tried and
tested programme.
What are the various routes to St. Kitts and Nevis citizenship?
Purchasing an approved property for a minimum of US$400,000 or a share in
an approved property for US$200,000.
Contribution to the Sustainable Growth Fund (SGF). The usual qualifying
contribution to the SGF: US$195,000 for an applicant with up to three family
members. The limited time discounted option has been extended until 15
January 2021: US$150,000 for an applicant with up to three family member
dependents.
Investment through any of the above options qualifies one to apply for
citizenship in St. Kitts and Nevis. The investment alone, however, does not
entitle someone to citizenship. There is an application and a very thorough
background check process on all applicants. This is to ensure that only
persons of good reputable character are allowed to obtain citizenship in St.
Kitts and Nevis.
The screening and due diligence processes for applicants
Background checks are done by independent due diligence companies to
verify the identity of applicants, their source of funds, their family, business
associates and other connections. These checks are done by third party
companies and not by the government directly. All of the information
provided by applicants is verified by these agencies discreetly. The Citizenship
by Investment Unit does its own analysis of the information provided by
applicants and the reports that come back from the Due Diligence
Companies to determine whether a person is deemed acceptable for
approval. Once all information is corroborated and there are no red flags,
such as blacklists or sanctions that come up against the applicant or any flags
for criminal conduct, their application would be approved.
Are there any nationalities that are excluded from the programme?
Persons from sanctioned countries are not permitted to apply due to the
associated risks involved with obtaining funds from those jurisdictions and in
some cases obtaining verifiable documents. In many cases it is difficult for
external due diligence companies to carry out their discreet investigations on
persons from these countries.
The future of the programme?
The St. Kitts Nevis CBI programme is always evolving and improving and
therefore, it will continue to be successful. The government remains
absolutely focused on the highest standards when it comes to due diligence,
processing efficiency and other important metrics, which will serve it very
well in the future.
How to apply?
Citizenship by Investment cannot be obtained by clients submitting
applications directly to the Citizenship by Investment Unit. A licensed
authorized service provider must submit applications for citizenship on
behalf of all applicants. There are a number of local law firms that provide this
service.
Success of an application is 100% dependent on the background of the
applicant.