In recent years, citizenship by investment programs have become increasingly popular around the world. And here, the Caribbean offers some of the best of these programs such as St. Kitts and Nevis Citizenship by Investment that all offer a wealth of benefits from being affordable to being tax-friendly and offering a range of investment options.

Now, the question is: Which should you choose? This post will examine why St. Kitts and Nevis Citizenship by Investment is a great option.

Caribbean Passport Programs

The Caribbean is a region in the Caribbean Sea that includes about 7,000 islands, states, and territories. Five of these countries situated in the Caribbean currently offer citizen by investment programs. These countries are all former British colonies and include Antigua and Bermuda, Dominica, Grenada, St.Kitts and Nevis, and St. Lucia.

No matter which country you consider investing in and, by implication, obtaining citizenship, you’ll enjoy the following benefits:

• Affordability. In all these countries, you can obtain nationality and a passport for a reasonably affordable amount, especially if you compare it to other similar programs around the world. As such, these programs represent excellent value for money if you’re looking for a citizen by investment program.
• Investment options. These programs offer at least two to three investment options you can consider when you want to obtain citizenship. These typically include making a donation to the government, which is then used for development, investing in property, and, in some cases, investing in a business.
• Worldwide accessibility. When you obtain a passport from one of these Caribbean countries, you could visit up to 156 countries around the world without obtaining a visa or obtaining a visa on arrival. For example, when you have a Caribbean passport, you can travel freely to the UK, European Union, and Singapore.
• Tax benefits. Getting a passport for one of these countries gives you extensive tax benefits. For instance, any income you earn outside these countries is not taxed. Moreover, many of these countries don’t have the taxes you’ll typically be liable for. These include, for example, income, property, and capital gains tax.
• Family-friendly. One of the major benefits of these programs is that you can include your family in your application. As such, you can include your spouse, children, parents, and even grandparents. Keep in mind, however, that each country has its own rules when it comes to which family members you can apply for.
• Dual citizenship. When you obtain a passport in one of these countries, you can obtain dual citizenship, and it won’t be necessary to denounce your first nationality.
• Remote processing. When applying for one of these passports, you’ll do so by using an authorised agent. Also, because the process is done entirely remotely, you can apply for these passports without ever leaving your home country. In fact, in most cases, you don’t even need to visit your new country of nationality after you’ve been granted citizenship.
• Confidentiality. The entire process to apply for a passport in one of these countries is protected by strict confidentiality rules. As such, you’ll have peace of mind knowing that the details of your application will be safe and secure.

Let’s now look at the St. Kitts and Nevis Passport by Investment Program in more detail.

St. Kitts and Nevis Citizenship Program

The Government of St. Kitts and Nevis has a long-standing citizen by investment program. In fact, it was the first program of its type in the world when it was established in 1984. The program’s goal is to attract foreign investment in the country and allows you, and your family, to qualify for citizenship by making an investment in the country, either through a donation or by investing in real estate.

Investment Options

Now that we’ve given a broad overview of what the St. Kitts and Nevis Citizen Program is, let’s look at some of the options you have in respect of the investments you can make.

Your first option would be to contribute to the St. Kitts and Nevis Sustainable Growth Fund (SGF), which was established by the Government on 1 April 2018. The goal of the fund is to invest in and improve areas like education, healthcare, infrastructure, heritage, alternative energy, tourism, culture, climate change, and more.

To obtain a passport when following this process, you’ll need to contribute $150,000 to the fund if you’re applying on your own. Typically, you would’ve needed to contribute $195,000 for a family of four, but as a result of the COVID-19 pandemic, this amount has been reduced to $150,000 as of March 2021.

In both these instances, these amounts already include the required Government fee. However, if you add more family members to your application, you’ll need to pay $10,000 per family member, irrespective of their age. Moreover, you also need to pay a due diligence fee of $7,500 for yourself and $4,000 for every family member over the age of 16. In addition to the above, you’ll also pay an Agency fee, which could vary, as well as a Passport fee of $350.

If you wish to add more family members after you’ve obtained citizenship, this is also possible. However, this process is subject to additional fees. Here, you’ll need to pay a Government fee of $35,000 if you want to add your spouse, $10,000 if you want to add a child, and $20,000 if you want to add a sibling. In addition, you’ll need to pay a due diligence fee of $4,000 per dependant, excluding those who are younger than 16.

St. Kitts Real Estate Investment

Your next option to obtain St. Kitts and Nevis citizenship is by investing in property. Here, you’ll need to make a recoverable investment in a Government-approved real estate project. When doing this, you have a few options.

Your first option is buying shares in a hotel or resort developed which is approved by the Government. When using this option, you’ll need to invest $200,000, and you’ll have to retain your shares for a period of seven years. Once seven years have elapsed, you’ll be able to sell your shares and recoup your investment.

The other option is to buy a property outright and hold it in terms of a full title deed. In this instance, the investment required is at least $400,000, and you’ll also need to pay various registration and other fees. When using this option, you’ll need to hold the property for at least five years. As is the case with the first option, once five years have elapsed, you can sell the property and recoup your investment.

The final option is also by purchasing a property outright, but by doing it with another applicant. Here, the minimum investment required is also $400,000, which means every applicant will need to invest $200,000. Moreover, in this case, you’ll need to hold the property for at least seven years before you can resell it to recoup your investment.

While all the investments above allow you to recoup your investment after a specified period, it’s important to know that you’ll also have to pay other fees. These fees include a $35,000 processing fee for the main applicant, a $20,000 processing fee for the applicant’s spouse, and a $10,000 processing fee for every dependant on the applicant, regardless of their age.

In addition, you’ll also need to pay due diligence fees of $7,500 for the main applicant and $4,000 for every dependant older than 16.

St. Kitts and Nevis Citizenship Benefits

We’ve already looked at a broad overview of the benefits of obtaining citizenship in one of the Caribbean countries. Let’s now look at some of the specific benefits of St. Kitts and Nevis citizenship:

• Visa-free access to over 150 countries and territories around the world including the UK, European Union, Singapore, and Hong Kong.
• Even though you are fully entitled to, you don’t have to move, or even visit, St. Kitts and Nevis.
• You, your spouse, and your dependants can enjoy full citizenship for life.
• You don’t have to renounce the citizenship of your home country.
• A favourable environment for starting or running a business and managing your wealth.
• A simple, hassle-free application process that you can complete from wherever you are.

How to Apply?

You’ve now seen what the St. Kitts and Nevis Citizenship program is, what the investment options are, and we’ve looked at some of the benefits of this citizenship. Let’s now look at the process of applying for the program:

• Preparation. The process starts with the preparation of the initial set of documents. These documents include copies of passports and birth certificates, CVs or resumes, police clearance certificates, and other relevant documentation.
• Submission. Once you’ve prepared the documents mentioned above, you’ll submit the file to the Citizenship by Investment Unit (CIU) through your authorised agent. At this stage, you’ll also pay the due diligence fees applicable, as well as 50% of the lawyer or agent’s fees.
• Approval. Once the file has been submitted, you’ll need to wait for the Government approval letter. This process can take up to three months.
• Payment. Once your application is approved, you’ll need to pay the remaining investment. In the case of a donation to the SGF, you’ll need to pay the amount based on your application, while, in the case of real estate investment, the funds will already be held in escrow. You’ll also need to pay any other fees still due in terms of the application.
• Collection. Once your passport or citizenship certificate is ready, you’ll be able to collect it from your nearest St. Kitts and Nevis consulate or embassy.

When applying for St. Kitts and Nevis citizenship, you can also make use of the Accelerated Application Process (AAP). To make use of this option, you’ll need to pay an additional fee of $25,000 per applicant and $20,000 per dependant. This option makes it possible to get citizenship within 60 days, and most applications are processed within 45 days.

No matter which process you use, once approved, your St. Kitts and Nevis passport will be valid for 10 years, and you can renew it after this period has elapsed. The process to renew your passport takes about three to four months.

Restricted countries

Nationals of Iran, Afghanistan, North Korea, and Cuba are not allowed to apply for the program, no matter where they live.

Conclusion

There you go. Now you’ve seen what the St. Kitts and Nevis Citizenship by Investment program is, how you should apply for it, your investment options, and some of its benefits. Hopefully, you’ve now seen why this program is great.

For more information about moving overseas, residency or citizenship, real estate, and more, look at our other resources.

FAQ

Apart from the information provided above, we’ve also compiled a list of frequently asked questions people often have about St. Kitts Island citizenship by investment.

What are the requirements to become a citizen by investment?

The main applicant has to be at least 18 years old, they have to invest the specified amounts, and they need to comply with any other requirements determined by the Government.

Is the application form available online?

No, the application form can only be obtained from and submitted to the CIU through an authorised person.

Can I contact the CIU in person?

No, you can’t. You can use an authorised person to handle and submit the application on your behalf.

What language should my application be in?

The CIU only accepts and processes applications in English.

What is the maximum number of dependants allowed on the application?

There is no limit on the number of dependants you can apply for, subject to the payment of the prescribed fees in respect of each.

Will my money be refunded if I no longer want to continue with the application?

All monies, except the due diligence and processing fees, will be refunded if you cancel the application.