Ten Questions about St Kitts and Nevis Passport by Investment Program: Overview and Benefits
Investing in a second passport is one of the best strategies in the modern dynamic world. Investing in Caribbean citizenship is on the radar of many people, especially the program offered by St Kitts and Nevis. It is a country made up of two Caribbean islands. What are the benefits of a St Kitts and Nevis passport?
St Kitts and Nevis passport is ideal for investors who want to travel around the world without a visa. St Kitts and Nevis citizenship offers a high level of security and visa-free access to the Schengen area and the United Kingdom.
In 1984, St Kitts and Nevis authorities were the first to launch a citizenship by investment program. It was designed to attract foreign entrepreneurs and their family members who wanted to obtain St Kitts and Nevis passport in exchange for investment in the Sustainable Growth Fund or purchase of St Kitts and Nevis real estate.
In this article, Imperial & Legal’s leading expert answer the most frequently asked questions about St Kitts and Nevis citizenship by investment program.
1. How Much Money Do I Have to Invest to Get St Kitts and Nevis Passport?
The minimum investment required by the St Kitts and Nevis citizenship by investment program is relatively small. This is always a huge attraction for wealthy individuals.
There are three investment options:
- Non-refundable donation to the Sustainable Growth Fund;
- Purchase of real estate approved by the government with an opportunity to sell it after several years of ownership;
- Investment in public benefit projects.
Non-refundable Contribution to Sustainable Growth Fund
A wealthy foreign national can get a St Kitts and Nevis passport for a non-refundable contribution to the Sustainable Growth Fund. The money is then allocated for the diversification of the economy, development of agriculture and green energy, support of sustainable and creative industries, recovery from COVID-19, and provision of social guarantees to the most vulnerable groups.
Costs of St Kitts and Nevis passport with a non-refundable contribution to the Sustainable Growth Fund
| Costs | One investor ($) | Investor with a spouse ($) | Family of four people ($) | Additional adult applicant ($) | Additional minor applicant ($) |
Non-refundable contribution | 250,000 | 250,000 | 250,000 | + 50,000 | + 25,000 |
Due diligence fee | 10,000 | 7,500 for each family member over 16 years old | |||
Passport fee | 350 per passport | ||||
Purchase of Real Estate
If you want to recover part of the money you invest in St Kitts and Nevis passport, you should consider buying a property in the country. Note that you can purchase only the real estate developments approved by the government.
For the minimum investment of $400,000, you will be able to buy a share in a holiday resort, villa, or condominium. After seven years of ownership, you will be able to re-sell your property and get your money back. Note that you can re-sell real estate to its previous owner only once.
Currently, a foreign investor can choose from 50 approved real estate developments. Imperial & Legal’s specialists will help you find the most appropriate real estate that you will be able to rent out or use for a holiday yourself.
To get a St Kitts and Nevis passport by investment, you can also buy a private house for one family at the price of not less than $800,000. The mandatory period of ownership in this case is five years. You will be able to rent your property out with the help of a property management company, but you will not be allowed to divide the house into several apartments.
Costs of St Kitts and Nevis passport through purchase of real estate
Costs | One investor ($) | Investor with a spouse ($) | Additional adult applicant ($) | Additional minor applicant ($) |
Purchase of real estate | from 400,000 – share in a hotel or condominium under construction from 800,000 – house for one family | |||
Due diligence fee | 10,000 | 7,500 | 7,500 | 7,500 (for applicants over 16 years old) |
Government fee | 25,000 | 40,000 | 15,000 | 10,000 |
Passport fee | 350 per passport | |||
Investment in Public Benefit Projects
This is the most recent investment option that allows foreign investors to get a St Kitts and Nevis passport through participation in public benefit projects approved by the government.
Costs of St Kitts and Nevis passport through investment in public benefit projects
| Costs | One investor ($) | Investor with a spouse ($) | Additional adult applicant ($) | Additional minor applicant ($) |
Minimum investment | 250,000 | |||
Due diligence fee | 10,000 | 7,500 | 7,500 | 7,500 (for applicants over 16 years old) |
Passport fee | 350 per passport | |||
2. How Did COVID-19 Affect St Kitts and Nevis Passport by Investment Program?
The COVID-19 pandemic did not affect the St Kitts and Nevis citizenship by investment program in any way. There were no delays or disruptions.
3. What Travel Benefits Does St Kitts and Nevis Passport Offer?
With a St Kitts and Nevis passport, you get visa-free access to more than 140 countries. It is your pass to the EU, the UK, Ireland, all countries of the Schengen area, and Caribbean and Asian countries, including Singapore and Hong Kong. Moreover, the St Kitts and Nevis government has recently signed visa waiver agreements with Mexico, Georgia, and Albania.
4. What Are the Requirements for the Saint Kitts and Nevis Passport by Investment Program?
An applicant is eligible for the St Kitts and Nevis passport by investment if they meet the following requirements:
- Be over 18 years old;
- Have a clean criminal and immigration record and be under no sanctions;
- Be of good health;
- Have enough funds to make at least the minimum investment;
- Pass a due diligence check and pay the corresponding fee (for all applicants over 16 years old).
5. How Long Is St Kitts and Nevis Passport Valid?
St Kitts and Nevis citizenship is given for life, and you will not lose it unless you break any law.
Biometric electronic passports are valid for ten years if an applicant is over 16 years old and for five years if an applicant is under 16 years old. Expired passports must be renewed.
6. Do I Have to Take an Oath to Get St Kitts and Nevis Passport?
No, you do not. There is no requirement for an applicant to take an oath to obtain a St Kitts and Nevis passport.
7. Do I Have to Visit St Kitts and Nevis to Collect My Passport?
No, you do not. Neither do you have to stay in the country for any time to become a St Kitts and Nevis citizen. Passports for a whole family (for example, the main applicant, their spouse, children under 25 years old, and parents over 65 years old) can be issued without your physical presence. You can then collect your documents in your immigration advisor’s office or get them posted to you. Note that the processing time is about half a year. After you invest, it will take not more than six months for you to get your St Kitts and Nevis passport.
After your application is approved, the processing is completed, the due diligence check is passed, and investment is made, the main applicant will get a certificate of registration. It must be collected in person in St Kitts and Nevis or St Kitts and Nevis embassy or consulate.
8. What Taxes Will I Have to Pay and Are There Any Exemptions for Foreign Investors?
The tax system in St Kitts and Nevis is transparent and favourable. For example, St Kitts and Nevis tax residents do not pay income or property taxes.
For a one-off investment, a foreign national will be exempt from income, dividend, inheritance, and some other taxes. You will be able to optimise taxation and successfully run businesses outside St Kitts and Nevis. Note that the trust legislation of this country is one of the best in the world.
9. Will My Confidentiality Be Guaranteed?
Information about your second St Kitts and Nevis citizenship will be 100% confidential and will not be disclosed to any third party.
Like all Caribbean countries, St Kitts and Nevis allows dual citizenship. You will not be asked to revoke your first citizenship. St Kitts and Nevis’s government understands that not all countries allow dual citizenship; therefore, they guarantee full confidentiality.
Note that St Kitts and Nevis is a Commonwealth country. It means that you will be protected by the UK legal system and enjoy all the guarantees, including social and political ones.
10. Can St Kitts and Nevis Citizens Get Long-term Visas to the USA or Canada?
Yes, they can. Any St Kitts and Nevis citizen can apply for a long-term visa to the USA or Canada. Since St Kitts and Nevis citizenship is trusted, your application is likely to be approved. That’s why, St Kitts and Nevis citizenship by investment program is one of the most beneficial nowadays.
Obtaining St Kitts and Nevis Passport with Imperial & Legal
For a long time, experienced Imperial & Legal’s advisors have been helping our clients get St Kitts and Nevis citizenship by investment. Our experts offer a one-stop approach to second citizenship as well as catering to the client’s individual needs starting from the preparation of documents to tax optimisation and choice of real estate. If you are interested in the St Kitts and Nevis citizenship by investment program, you can book a consultation with our immigration advisors and discuss all the details with them.
