A Brief Comparison of the St. Kitts and Nevis Investment-Based Citizenship Programs
The island nation of St. Kitts and Nevis is located in the Caribbean Sea and enjoys beautiful scenery, a year round warm climate, and a friendly English-speaking native population. There are many attractions in this country that would catch the attention of travelers, such as luxurious vacation houses, boutique shopping, and world renowned golf resorts.
Moreover, the country’s favorable approach and treatment of businesses, along with its tax breaks and benefits, are attracting foreign investors by the thousands. In order to further encourage foreign investment, the nation also offers a citizenship by investment program with many options for foreign nationals seeking to relocate to St. Kitts and Nevis.
The country’s two main options for citizenship by investment are contributing to the nation’s Sugar Industry Diversification Fund (SIDF) and investing into a designated real estate development project. This pamphlet provides a brief comparison of the two options with detailed explanations of each discussed in separate pamphlets.
The Sugar Industry Diversification Fund
The SIDF was established by the St. Kitts and Nevis government to help the country transition away from sugar being its main economic industry and into a multi-faceted economy with several developed sectors. As an approved citizenship by investment option, if a foreign national contributes a minimum of $250,000USD into the SIDF, the national will then receive the St. Kitts and Nevis citizenship. (The minimum investment amount is increased based upon how many dependents the investor brings to the country).
An important characteristic of this option is that an investment into the SIDF is not truly an investment – it is a donation. Although the investor and family will receive citizenship, the investor will not receive a return on the funds.
St. Kitts and Nevis’s Real Estate Investment Projects
The second option is investment into an approved real estate development project. This investment is truly an investment as the foreign national may receive a return or profits depending on the success of the development project. The two most popular real estate projects are the Kittitian Hill Village Suites and the Park Hyatt St. Kitts Hotel. Each project requires a minimum investment of $400,000USD.
The Citizenship by Investment Application
Regardless of which option the foreign investor chooses, the citizenship application remains the same. The first part requires information about the investment and proof that the money has been committed to the SIDF or real estate project. The second part is a very thorough background and due diligence check of the investor’s criminal and immigration history. As part of this process, the St. Kitts and Nevis immigration authorities may require the investor to come to the country for an interview.
Once the investor’s application is approved, the investor and family will be issued the St. Kitts and Nevis passports.
Why Should Investors Choose St. Kitts and Nevis?
There are numerous advantages to obtaining St. Kitts and Nevis citizenship including visa-free travel to more than 120 countries. Additionally, citizens do not pay income taxes, gift taxes, capital gains taxes, and inheritances taxes. Finally, the country allows dual citizenship so the foreign national does not have to renounce his/her former nationality.