5 Reasons to Choose Citizenship By Investment in St Kitts and Nevis KEY TAKEAWAYS
Having a second passport has become a necessity for many in 2024. Be it for tax, financial, or mobility reasons, a second passport can have many benefits. Citizenship by investment is a great way to solve many of these issues. You need to understand what CIB is and why you should choose the CIB program in St. Kitts and Nevis. It’s 2024 and having a second passport is quite common these days. Be it for tax, finances, or mobility, there are many reasons why having a second passport can only bring you benefits.
But, how do you get this second passport?
Well, many countries allow you to buy citizenship by investing in their economy. And one such country is the two-island nation of St Kits and Nevis.
So, what makes the citizenship by investment program in St Kitts and Nevis better than the other Caribbean countries?
Well, you’re in luck because we’ll tell you the answer to that very question.
In this article, we will get to know about what citizenship by investment is and we’ll also give you 5 reasons to choose St Kitts and Nevis citizenship program .
What is Citizenship by Investment? Before you go about trying to buy your way to a second passport, you need to understand what citizenship by investment is.
A Citizenship by Investment (CBI) program is the way that an individual or person can buy into a country’s citizenship by investing a huge sum of money into a country’s economy.
And if you’re thinking of the process being this simple, then you’re totally in the wrong.
To be eligible for getting this citizenship, there are a lot of requirements and steps involved.
The applicants are usually required to:
Make a non-refundable donation to the country Invest in (government-approved and recommended) real estate Buy some governmental financial instruments Set up and Run a public company And that’s not all, you’ll probably have to apply for the process to get started with all the required paperwork to back you up. Plus you also need to make a minimum investment for the application to even be considered for citizenship.
So, only after your application is approved and the naturalization certificate is issued, you can claim a passport of the country.
Why Should You Choose the Citizenship? For high net-worth investors, the citizenship of St. Kitts and Nevis can be an alternative to their original citizenship. Also, the minimum investment requirement for the CBI program here is $250,000.
Plus its passport carries many benefits as well.
Here are the 5 reasons for choosing the St. Kitts and Nevis CBI program:
Reason 1: The Views Well, St. Kitts and Nevis ( The Federation of Saint Christopher and Nevis) is a two-island country located in the West Indies in the Lesser Antilles in the Caribbean Sea.
And while both the island’s climates range from tropical savannah to tropical monsoon, the island makes up for it with its magnificent mountainous regions and stunning ocean views. This makes these islands a fabulous place to spend time.
Reason 2: Visa-Free Countries Well, there are more than 150+ St Kitts Passport Visa-Free Countries . This means that you can travel to more than 150 countries around the world and you do not need to do anything other than buy a plane ticket.
With a St. Kitts Passport, you automatically get a visa on entry for 30 days in any of the eligible countries.
Plus, you also get long-term visas to the US and Canada.
Reason 3: Tax Haven If you’re planning on starting a business, you will love St. Kitts and Nevis. It is a haven for tax.
This means that you can apply for tax holidays for up to 15 years under the Fiscal Incentives Act with a corporate tax as low as 33%.
Business Groups Eligible for Tax Holidays in St. Kitts and Nevis Enterprise Group I II III IV Required Contribution to the Economy Value Added of at least 50% Value Added of 25%-50% Value Added of 10%-25% Enclave enterprises that produce only export goods. Maximum Tax Holidays 15 Years 12 Years 10 Years 15 Years
Reason 4: Well-Priced CBI Program and Fast Citizenship Process Even though the CBI program cost for St Kitts is not cheap, it’s not that expensive either.
The total cost of citizenship will cost you anywhere between $150k to $250k and the program is mostly reliable and trustworthy.
You can even hasten your application process (from 3-4 months to 2 months) by paying extra.
And the best part, your citizenship can apply to your family members too. Any dependents under the age of 30 can be added to the application.
Plus your parents and grandparents can be added too.
St. Kitts and Nevis Citizenship by Investment Program Processing Time
Reason 5: No Residence Required Since St. Kitts and Nevis have a pretty good and remote CBI application process, you do not even need to visit the country to apply for citizenship, nor will you have to visit the country after either.
You can become a citizen without ever stepping foot in the country.
Plus, you get the option to only make the full investment after your citizenship application has been approved.
DID YOU KNOW? St. Kitts became the first British colony in the West Indies in 1623. The country gained independence from Britain in 1983, and Terrance Drew was elected as prime minister in 2022.
Frequently Asked Questions Ans: It will take approximately three to four months to get your St. Kitts and Nevis passport. However, the country also has an Accelerated Application Process where you can pay $25,000 extra and get your St. Kitts and Nevis passport in only 45-60 days.
Ans: The main difference is the price. While the donation option for St. Kitts and Nevis citizenship is $150,000, the real estate investment stands at $200,000, plus higher government fees.
Ans: No, St. Kitts is a zero-income tax country. However, if you choose to live there, you will pay a VAT of 17%. You will also be subject to taxes if you incorporate your business there or buy property as there is both a property tax and a transfer tax.
