The small island country of St. Kitts and Nevis is located in the Caribbean Sea and has become one of the most popular tourist destinations in the world on account of its crystal clear waters, flawless beaches, beautiful skies, and friendly population. The country boasts a year-round warm climate with numerous operating luxury resorts and festivals and fairs showcasing the nation’s fascinating colonial art, literature, cuisine, and culture.
Along with millions of tourists, foreign investors are also coming to St. Kitts and Nevis in droves on account of the nation’s business-friendly policies and many investment incentives. One of St. Kitts and Nevis’s major investment incentives is its citizenship by investment program, which allows a foreign national to invest a specific sum of money into the country in exchange for St. Kitts and Nevis citizenship.
Investment-based citizenship of St. Kitts and Nevis can be obtained in two ways. First, the foreign investor can invest into a government approved real estate project. Or second, the investor can make a donation to the country’s federal Sugar Industry Diversification Fund (SIDF). The differing requirements and procedures for each of these options are discussed at length elsewhere but both of these programs share many of the same attributes. For example, both of these programs lead directly to citizenship, allowing the foreign national to bypass the initial permanent residence requirement that is common to many similar programs in other countries. Additionally, each option allows the investor to bring the investor’s spouse and children to the country as dependents and to obtain citizenship for these family members as well.
Why Should Investors Choose St. Kitts and Nevis?
Obtaining St. Kitts and Nevis citizenship is advantageous to investors for several reasons. First, St. Kitts and Nevis passport holders are eligible to travel visa-free to more than 120 countries including Aruba, Germany, Greece, Hong Kong, Bermuda, Spain, Switzerland, Singapore, and Turks and Caicos. Second, St, Kitts and Nevis citizens do not pay income taxes on their income earned, gifts, wealth, capital gains, and inheritances. Third, the country does not require its new citizens to renounce their former nationality so foreign investors can enjoy the benefits of dual citizenship without issue from the St. Kitts and Nevis government.
Interested investors are encouraged to contact knowledgeable business and immigration attorneys for further information on the opportunities in St. Kitts and Nevis.