The Caribbean has several programs benefitting foreign buyers and investors through special Economic Citizenship. These individuals are able to gain not only a second passport, but potentially various fiscal betterments. The islands of St. Kitts & Nevis, Dominica, and now Antigua, offer these programs. Our focus here is the Federation of St. Kitts & Nevis.
The Citizenship-by-Investment Program in St. Kitts & Nevis was established in 1984, making it the longest established program of this kind in the world. It has rigidly enforced investment requirements and exacting due diligence procedures. The program is well-regarded world-wide. The government utilizes this program to attract investors of good character to make a substantial contribution to the economic development of the Federation. These investors are provided the opportunity to apply for citizenship and a passport.
The benefits of this program may include the advantage of more world-wide travel options for the holder, less restrictive taxes on assets, capital, and income, change of residency, etc. There are numerous advantages subject to an individual’s requirements.
To qualify for Economic Citizenship in St. Kitts and Nevis an individual must make a substantial investment. Most people choose to qualify under the real-estate option. The government requires a purchase in a designated and approved real estate development with a value of at least US$ 400,000.On approval of an application of a real estate investment additional fees are also payable. The primary applicant pays $50,000; the spouse pays $25,000; each child under 18 pays $25,000; each qualified dependent over 18 pays $50,000. The applicant must also pay for all typical fees and taxes associated with a real estate purchase. The citizenship granted under this program is permanent and cannot be revoked.