The Benefits of St. Kitts and Nevis Citizenship
The island nation of St. Kitts and Nevis is located in the Caribbean Sea and is widely known around the world as one of the most beautiful vacation locations in the tropics. The country enjoys a warm climate all year round, white beaches, and sunny skies. The landscape, combined with the nation’s unique colonial heritage and traditions, make St. Kitts and Nevis one of the most popular tourist destinations every year.
In addition to the tourists, foreign investors are flocking to St. Kitts and Nevis as well, due in large part to the country’s sugar trade. Qualified foreign nationals may obtain St. Kitts and Nevis citizenship for themselves and their families and apply for the country’s passport. Often, the passports are issued within 90 to 120 days of submitting the application to the St. Kitts and Nevis immigration authorities.
In addition to receiving a new passport, there are numerous benefits that flow from becoming a citizen of St. Kitts and Nevis. The most obvious benefits are that citizens enjoy the full and unrestricted right to live, work, and travel in the country. Additionally, with a St. Kitts and Nevis passport, an individual may travel visa-free to more than 120 countries, including some of the world’s most poplar destinations such as Germany, Greece, Hong Kong, Bermuda, Spain, Switzerland, Singapore, and Turks and Caicos.
Important to many foreign investors is the fact that St. Kitts and Nevis citizens also enjoy multiple tax breaks and benefits as the country does not levy taxes on income earned, gifts, wealth, capital gains, and inheritances. Any business trade with Canada and the Caribbean countries is completely tax-free and the nation’s currency is pegged to the stable U.S. dollar.
Another benefit that is important to some foreign investors is that St. Kitts and Nevis permits its citizens to retain dual citizenship and does not require foreign investors to renounce their former nationality. Moreover, the St. Kitts and Nevis government does not inform foreign governments when their nationals obtain St. Kitts and Nevis citizenship, thereby allowing for a greater amount of privacy for the investor and family.
Additionally, after becoming a St. Kitts and Nevis citizen, foreign investors will be able to sponsor their parents for citizenship and can also to bestow citizenship on their grandchildren.