The citizenship of Saint Kitts and Nevis: the costs of passport decreased

The government of Saint Kitts and Nevis has decreased the threshold amount of investment to be made to obtain citizenship. From now on, the family of four can acquire the passports of the Caribbean country for the price of $150 thousand USD.

Saint Kitts and Nevis passport is an alternative to the European citizenship

The citizens of the Commonwealth of Independent States (former Soviet Union countries) who managed to accumulate the sufficient funds are considering an option to obtain a second citizenship or even to relocate to another country. Europe has become their usual choice because most of European countries have sustainable economies and comfortable living conditions. However, getting a European citizenship could be complicated.

The procedure can last from 10 to 15 years. First, the applicants for the European passport will have to obtain a residence permit, to learn the language, to pass all necessary exams, to acquire the right of permanent residence, and only then they will become the full-fledged citizens of the state of their choice.

The citizenship of Saint Kitts and Nevis has a number of substantial advantages. The preparation and legislation of all documents can take approximately 12 weeks, and it can be carried out without the necessity for an applicant to travel abroad. Saint Kitts and Nevis passport usually becomes a preferable choice for wealthy people who would like to change their tax residence and enjoy the opportunity to travel without visas.

It should be noted that St Kitts and Nevis recognizes the right to obtain the second citizenship, while the procedure of passport acquisition is fully confidential.

The citizenship of Caribbean countries can be obtained for a relatively low price. Saint Kitts and Nevis has a special government program to obtain the citizenship in exchange of investment to the local economy.

The comparison of prices of the Caribbean passports

There are three ways of obtaining the citizenship of St Kitts and Nevis in exchange of investments.

1. Making a charitable contribution to the Sugar Industry Diversification Foundation. The amount of the contribution depends on the number of family members indicated in the application. It can range from $250 to $350 thousand. This option does not stipulate any refunds: the investors contribute to the development of the sugar industry of the country in exchange of the passports.

2. Purchasing of property chosen from the properties approved for participation in the program that costs not less than $400 thousand. The investors are usually offered luxurious real estate or apartments in the hotel complex. This particular option is usually chosen by those who want to eventually recoup the investments. In 5 year period of time, the investor can sell the property while retaining the citizenship. It is noteworthy that over the past 10 years, the price of real estate in the country has risen by 92%. Investors can live in the apartments or rent them out, thus getting extra profit. There is only one drawback to this method: the real estate on the islands is expensive and the amount of investment could grow from $400 thousand to a couple of million dollars.

3. Making a contribution to the newly created Hurricane Relief Fund. In this case, the amount of contribution necessary for the acquisition of citizenship is only $150 thousand for a family of four. You can add other relatives to the application for additional payment. The fund operates until the end of March 2018; therefore, it is important for the applicants to submit their application for citizenship before that date. Currently, it is the most affordable way to get citizenship of the Caribbean country.

The government commission will check the documents and, if everything is in order, issue a certificate of naturalization. The standard procedure takes from 5 to 6 months while the accelerated procedure takes from 12 to 16 weeks. Passport to be delivered to your address. All other procedures are carried out without the direct participation of the applicant.

Many people think that because of the decrease in the amount of the contribution to Saint Kitts and Nevis, the passports would be simply ladled out. It is a false presumption. All the requirements for the Due Diligence remain unchanged.

The investor still has to prove that he has a good reputation. That he or she has no connection with the criminal world, does not participate in scandalous cases. That he or she earned his/her capital in a legal way and paid all taxes. In addition, an investor should prove that he/she not only has enough capital to pay the contribution but also has the sufficient amount of money for living expenses.

The government must be assured that investors will not refer for social support. I would recommend investors to display the availability of at least $500 thousand. It can be real estate, companies, etc.

Elena Rudaya

Advocate and Business Development Director

Immigrant Invest

What should the applicant do after he/she obtains the citizenship of Saint Kitts and Nevis?

Investors acquire the citizenship of Saint Kitts and Nevis not to reside in the country, but to have an opportunity to travel the world and conduct business in a more efficient way. The holder of the new passport does not need to live on the islands. Citizens of this country can travel to more than 130 countries without visas and special permits. This list includes the United Kingdom, Singapore, Hong Kong and the countries of the European Union.

During the next five years, new citizens can’t sell real estate purchased under the program. Upon expiry of this period, the citizenship will be considered as permanent.

Saint Kitts and Nevis is regarded as a "tax haven" because the local tax system is beneficial for conducting international business. Businessmen can manage their business from another country and transfer their income to the secure banks of Saint Kitts and Nevis. They can also easily set up a business on the island if the necessity arises.

You can relocate your entire family, parents, children and grandchildren, to Saint Kitts and Nevis as the program allows you to include relatives in the application. The two islands of the Federation are a place for safe and comfortable living. The country is not prone to any economic or political crises; it will be an escape hatch where you wouldn’t have to worry about the future. The mild climate and luxurious beaches turn this place into an ideal spot for relaxation.

The cost of citizenship

The costs of passports depend on the number of family members included in the application and on the method of investment. The spouse, as well as children under 25 years and parents older than 65 years, are considered family members (dependents).

$450 thousand — an applicant + 6-7 family members.

The amount of investment for the purchase of real estate:

$400 thousand dollars — real estate items.

$50 thousand - the governmental registration fee for the main applicant.  

$25 thousand - the governmental registration fee for the spouse and each child younger than 18 years.  

$50 thousand - the governmental registration fee for child aged from 18 to 25, who is not married and fully depends on the applicant.

Tax on the purchase and insurance of real estate. The size of tax depends on the purchase price (usually, it is about 10% of the program cost).

The applicants for the status of a citizen do not have to make trips to Saint Kitts and Nevis to receive documents and spend money on the cross-ocean flights. The official representatives of the program will handle the paperwork. Immigrant Invest is the authorized International Agent of  the governmental program for obtaining citizenship of Saint Kitts and Nevis by investment.