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What You Must Know About St Kitts Citizenship
The concept of buying a second nationality and a second passport is something that many wealthy people are buying into. Those who can afford it are making it easier for themselves and their immediate families to live wherever they choose and travel freely.
St Kitts citizenship was established in an attempt to save the country from economic instability and its accompanying pitfalls.
However, while the wealthy are taking up this option; current research shows that they do not necessarily want to live in the countries from which the have invested in the immigration program and they tend to postpone living there but they are quick to take advantage of the benefits that come along with having another passport.
Citizenship by investment opens up new doors and possibilities and permits the bearer to have access to countries that would be deemed off limits if he or she were to travel using their passport issued by their home country.
St Kitts and Nevis and Antigua and Barbuda are some of the top favourites because they permit citizens to do business or leisure travel without a visa for 90 days in the United Kingdom and Europe.
10 Facts You Didn’t Know About The Islands
They are located in the Leeward Islands of the Caribbean.
This island, as well as the country of Nevis, offers a passport that grants legal residency to individuals who have contributed a significant amount to the country’s economy.
If granted, the St Kitts and Nevis Passport allows you visa-free travel in Europe and select other countries, gives you the option of dual citizenship, and more.
Read on to find out everything you ever wanted to know about St Kitts And Nevis Citizenship.
#1: The St. Kitts And Nevis Passport Are Sold As One
Even though St. Kitts and Nevis are their own countries with diverse cultures, their citizenship by investment program is sold for residency and citizenship in both countries.
Therefore, as you see St. Kitts citizenship mentioned throughout this article, remember that it is referring to both islands.
They offer the same program and issue their passport as a single entity.
#2: The Investment Is One Of The Lowest
The average range for citizenship by investment programs is anywhere from $200,000 USD to a few million USD.
For the St. Kitts citizenship program, the initial investment is just $250,000 USD. By comparison, it is one of the lowest amounts you can pay for citizenship in a first-world country.
#3: This Programme Is The Oldest
The investment program that offers St. Kitts and Nevis citizenship is one of the longest-standing programs. The countries opened their doors to foreign investors in 1984.
Since this time, they have continued to offer their citizenship to those that are qualified and who have donated a significant amount of capital into the economy.
#4: The Money Goes To The Sugar Industry Diversification Foundation
In the countries of Nevis and St. Kitts, the sugar industry plays a key role in the country’s economic stability. They are two of the top producers of sugar in the world.
The goal of this foundation is to continue the economic stability of the country by working to diversify the sugar culture, as well as improve the equipment that is used to process it.
By diversifying their techniques, it is believed that they can continue to improve their sugar industry and continue their country’s wealth.
#5: You Can Also Invest In Real Estate
If you choose not to invest in the Sugar Industry Diversification Fund, you have the option of investing in real estate in the country. It is important to note, however, that the real estate option costs $400,000 USD plus applicable fees.
The real estate option also takes longer to process, as you are required to hold ownership of the property for a minimum of five years.
After this time, you are permitted to sell to another buyer.
#6: Selling Your Real Estate Can Help Other Potential Citizens
Up until 2012, it was illegal to sell your real estate investment to another person seeking citizenship by investment in the countries of St. Kitts or Nevis.
After the new revision, however, you can sell the property to another investor.
It is important to remember that the property must be sold for a minimum of $400,000 USD to qualify the next buyer for St. Kitts and Nevis citizenship.
#7: Benefits For Citizens
When you choose legal citizenship through the Nevis and St. Kitts citizenship options, you become a legal citizen for life.
This means that any of the future generations born after your citizenship has been legalized are also full citizens of the country.
As an added bonus, this type of residency allows you to travel visa-free to all European countries, as well as live and work in them.
#8: You Don’t Have To Pay Full Price For Your Dependents
The requirement of a $250,000 contribution to the Sugar Industry Diversification Fund is for a single applicant. However, the countries of St. Kitts and Nevis also offer a lower rate to those with families.
For an adult, their spouse, and 2 dependent children, you can expect to pay $300,000.
For an adult, their spouse, and 4 other dependents, it will cost $350,000. For seven dependents, you can expect to pay $450,000.
It is important to note, however, that this amount does not include due diligence fees required for dependents over the age of 16, which is an additional $4,000 per applicant.
#9: You Have Tax Benefits
Whether you are holding dual residency, or residing solely in St. Kitts or Nevis, you are not require to pay taxes.
The reason for this is that the country does not charge its citizens direct personal taxes.
This makes these two countries excellent options if you are worried about needing to pay out additional money in taxes for dual citizenships.
#10: You Do Not Have To Give Up Current Citizenship Or Meet Language Requirements
The final fact you should know about St. Kitts citizenship is that you are not required to meet language requirements or renounce your current citizenship.
Once you have provided the proper documentation and invested the designated amount, you are granted citizenship without needing to meet language requirements.
You do not even have to speak English to become a citizen. Additionally, you can hold citizenship in St. Kitts and Nevis without renouncing citizenship in your home country.
This is beneficial if you are interested in dual citizenship as a means to leave the country in the event of war or political crisis.
As an added benefit, the countries do not report your nationality to your home country- or any others.
Hopefully, you now know everything you have ever wondered about St. Kitts citizenship. With one of the longest-standing, lowest-costing programs around, this is a great option for dual citizenship or even if you plan to immigrate to a European country.
In addition to all of the benefits that are offered, St. Kitts and Nevis are both beautiful islands that are covered in beautiful architectures and beaches, as well as rich in their own history.
Start saving for your dual citizenship today.
Malta, Antigua, Cyprus Citizenship By Investment Options
Malta, a group of islands in the Mediterranean, is presently a choice favourite for the wealthy. “Malta has a minimum contribution to infrastructure and development of €650 000 per person, growing by €25 000 for every child under 18. On top of this contribution, you would need to invest €150 000 into a government bond and buy a property for €350 000, or lease property for five years at €16 000 a year.” Maltese citizens automatically become EU citizens and this allows them to reside, work and study in any EU state.
Malta allows their citizens to pass citizenship on to their children.
If you like Europe as an option make sure you read The Ultimate Guide To European Citizenship. What You Must Know!
Antigua requires one to either donate $200 000 to government ( you will need an additional $100 000 for fees) or invest in real estate, which would add up approximately R5 million to R6 million, which could be liquidated after five years of becoming a national.
Cyprus is an Eastern Mediterranean country and it offers visa free travel to over 150 countries including Europe and Canada. A passport within 3-4 months and there is no residency requirement.
Here is how to qualify: EUR 2.5 million investments in real estate or bank deposits.
However the former is recommended since Cyprus has had financial trouble in the past and its banking sector can be viewed as precarious at times.