St. Kitts & Nevis
Program overview – Obtaining citizenship by investment in St. Kitts and Nevis was established in 1984 and indeed it is one of the oldest and most attractive programs of such kind. Government provides two investment options (Real estate and Sugar Industry Diversification Foundation programs) in exchange of citizenship. As tourism is the main engine of country’s economy, government allows foreigners obtaining citizenship in 4 – 8 months period and encourages contribution in developing this luxuriant tropical paradise.
Real estate program is based on investment in residential properties. All real estate projects must firstly be approved by the Federation of Saint Kitts and Nevis before investing. Investments in land are allowed only in territory of Christophe Harbour. Opportunities refunding entire sum with profit appears after 5-year mandatory holding period. Nevertheless, each investor is entitled for retaining and subletting property for tenants, therefore it might be kept as profitable investment.
Sugar Industry Diversification Foundation program was established to support sugar industry workers and it is based on non-refundable contribution to the government designated SIDF account.
Passport validity for each adult is 10 years and for each underaged dependant 5 years. Saint Kitts and Nevis as all Caribbean islands, also allows second citizenship.
Requirements – Qualifying investor must be at least 18 years old and successfully pass due diligence check, which is conducted by the Citizenship by Investment Unit (CIU) appointed company.
More about the program
Family – As part of this program every main applicant is entitled to include their spouse, children under 18 as well as unmarried, dependant and full-time enrolled in higher education children under 30 and parents over 55. Physically or mentally challenged parents or children might be included as well. Dependants under 16 years old and born after citizenship is granted are automatically processed through the Ministry of National security.
Living, Working, Studying and Traveling – Applicants and their families gaining citizenship in St. Kitts and Nevis also are free to live, work, set up business, study in the Caribbean CARICOM members, as well as travel to more than 150 countries, including EU, UK, Ireland, Commonwealth Nations, Hong Kong and Singapore.
Financials. Real estate VS Donation
Real Estate Investment – qualifying investment level is $ 400 000 with the intention to build condos, homes, hotels and similar residential properties. In 2016 there were over 25 approved proposals, such as Christophe harbour, Kittian hill, Embassy suites, Koi resort residences, Four seasons resort estates, Zenith beach resort and more. Investors may choose from stunning vacation properties such as suites by Hilton, hotel groups, villas, condos, beach cottages, houses and similar projects with varying price from $400 000 to few million USD and over.
Each applicant under real estate program must reimburse non-refundable government administration (application) fees price prior the application process. Main applicant’s and adult dependants’ fee is $ 50 000 whereas spouse or dependents under 18 contribute by $ 25 000 extra per person.
Donation – For those qualifying under Sugar Indusrty Diversification Fundation program, St. Kitts and Nevis government provides separate options depending on whether it is single applicant or family case. Donation amount starts at 250 000 (investor alone) and increases to 300 000 USD of non-refundable charitable contribution for family case with up to three dependants. Contribution for each additional dependant regardless or age is 25 000 USD.
Application procedures and steps for both programs are quite similar. Main diﬀerence appears before application process as following real estate program, property can be booked by paying approximately 10 – 20% initial deposit without paying full property price, whereas donation is requested after citizenship approval is received. Due diligence costs ($ 7 500 main applicant; $ 4 000 spouse and dependants over 16) and passport fees ($350 each) will be applied before the application regardless of whether real estate or Sugar Industry Diversiﬁcation program is selected.
St. Kitts and Nevis Real Estate
Share of Christophe Harbour Villa
Christophe Harbour provides luxury living surrounded by turquoise lagoons, sandy beaches and picturesque hills with views to Nevis Island. 2 500 acre project with a 300 acre marina and 18-hole golf course promises comfortable life in a private or a co-owned villa with starting at 1500 to 4500 square feet. Christophe Harbour oﬀers 2, 3 or 4 bedroom properties with stunning natural landscapes, lush private gardens and courtyards outdoors. Minimum investment level is 450 000 USD.
Villas at Four Seasons Resort Estates
Four Seasons Resort Estates situated nearby Pinneys beach oﬀers luxurious vacation properties contemporary and expansive indoor and outdoor spaces. 2 to 5 bedroom villas having private pools and fragrant gardens outside, assure fully equipped accommodations with fully furnished rooms inside. Proprietorship or fractional ownership is allowed. Price ranges from 400 000 to 3 800 000 USD.
Program Investment costs
*Real estate might be sold after 5-year period.
**Donation amount varies depending on number of dependents. $300 000 for family of 4 persons. Additional donation of $ 25 000 for each dependant above 4 persons is applied.
Taxes – Appropriate tax planning enables enjoying of a tax free status on personal income and international revenues. As well no wealth or inheritance taxes are applied. Property registration, processing fees and taxes must be paid in addition to the property purchase. Real estate purchase closing costs are approximately 2 – 2,5% of the gross property price.
Timescale and Payment Outline
Step 1 (3 – 5 days)
Pre-due diligence allows avoiding possible issues and assure eligibility. It also allows for ineligible applicants to save unnecessary costs, time and eﬀort.
Step 1 requires:
In cases of questionable pre-due diligence outcomes, enhanced background checks may be required, including possible cooperation with the relevant authorities.
Step 2 (1 month)
Collection and preparation of documentation usually takes approximately 1 month to prepare all documents which must be translated to English, apostilled and notarized.
Step 2 requires:
Step 3 (1 day)
Our legal representative provides all necessary documents to the immigration oﬃce and accomplishes citizenship application on clients behalf. Physical presence of main applicant is not required. At this step balance of 50% agentfee is applied.
Step 4 (3 months)
Application processing and due diligence checks takes approximately 3 months, after which approval from the Citizenship by investment Unit (CIU) should be received. Only on very rare occasions the application may be denied, after due diligence check is successfully passed.
Step 5 (1 month)
Once approval is issued, if applying under real estate program, remaining balance of property must be paid and after receiving the transaction, the Developer notiﬁes the CIU that payment is done. 2 – 2,5% real estate purchase closing costs are requested.
In case of sugar industry diversiﬁcation program investor is obliged to pay full contribution to the government-designated Escrow account within 90 days.
$350 passport fees for each applicant is required despite which program was chosen.
Step 6 (1 month)
Prime Minister oﬃce issues the Certiﬁcate of Naturalization and our lawyer submits it together with the passport application to Passport Oﬃce. Once passports are ready, it will be collected and sent by the reputable courier service.