St. Kitts & Nevis Offers Dual Citizenship for Investors – You Game?
CHARLOTTE, NORTH CAROLINA, UNITED STATES OF AMERICA, January 3, 2022 /EINPresswire.com/ — In a recent interview, the CEO of St. Kitts & Nevis’ Citizenship by Investment Unit Les Khan announced that the Caribbean nation’s citizenship by investment program (CIP) saw an annual increase of about 30% in applications.
The CIP, first launched in 1984, is the oldest of its kind and is one of the most popular programs worldwide. The twin island nation of St. Kitts & Nevis has transformed its CIP into a pillar of its economy, and demand is set to grow further.
The high demand for St. Kitts & Nevis’ CIP is no surprise, as the commonwealth country has one of the simplest and most affordable second citizenship programs, and its passport ranks highly on the global stage.
Here are some of the main benefits of obtaining a St. Kitts & Nevis passport through investment.
Enhanced global mobility
St. Kitts & Nevis has one of the strongest passports worldwide, offering visa-free travel to 157 destinations throughout the globe. But it isn’t just about quantity, as the holder of a St. Kitts & Nevis passport can travel visa-free to highly sought out destinations such as the UK, EU, Hong Kong, Singapore, and many more.
Taxation benefits
St. Kitts & Nevis is a highly rated tax haven with a robust financial services sector. This mature economic landscape attracts to high net worth individuals (HNWIs) who wish to alleviate the burden of high taxation in their home countries.
St. Kitts & Nevis does not impose foreign income, capital gains, wealth, or inheritance tax on its citizens. Companies in the country are also eligible for massive tax exemptions, a reason why many global enterprises set up shop in the Caribbean nation.
Asset protection
The smaller island of Nevis is especially adept at catering to HNWIs. Its exclusive nature extends from its serene beaches to its banking and finance sectors.
Offshore banks are highly private and very exclusive, while asset protection tools are such as offshore trusts are quite common, and HNWIs can have their pick of top-tier service providers.
Nevis’ trust law astutely highlights why the wealthy choose the island as their main asset protection destination. Offshore trusts in Nevis are not bound to foreign court orders, are completely private, and are regulated under laws that favor trustees. Even if creditors do come calling from abroad, suing a Nevsian trust is quite the task, as the creditor has to put up a bond of at least 25,000 USD to file a legal claim, and they have one year to act upon their claim. Creditors also have to prove wrongdoing beyond any reasonable doubt, a level of sophistication left for criminal cases in the US.
An easy process with an affordable price.
Obtaining a St. Kitts & Nevis passport through investment has never been easier.
The requirements of the program are simple and can be summed up as:
- Be over 18 years of age
- Have a clean criminal record
- Submit a full application
- Make a qualified investment
St. Kitts & Nevis lets investors choose between two investment types:
Donation to the Sustainable Growth Fund
Investors can obtain a St. Kitts & Nevis passport by donating a non-refundable amount to the country’s Sustainable Growth Fund, starting at 150,000 USD for a single applicant or 195,000 USD for a family of four. Any additional family member after the fourth will cost require another 10,000 USD donation.
Applicants must also pay due diligence and processing fees as follows:
7,500 USD for the main applicant
4,000 USD for dependents aged 16 or above
Real estate investment
Purchasing pre-approved real estate for no less than 200,000 USD is another route to obtaining a St. Kitts & Nevis passport. Most approved real estate projects are shares in high-end resorts throughout the country, but buying actual property is also an option.
In addition to the real estate value, an applicant must pay government fees as well as due diligence and processing fees as follows:
Government fees:
- Main applicant: 35,050 USD
- Spouse of the main applicant: 20,050 USD
- Any other qualified dependant of the main applicant regardless of age: 10,050 USD
- Due diligence and processing fees:
- 7,500 USD for the main applicant
- 4,000 USD for dependents aged 16 or above
Application requirements
The process is very simple and quick.
There are six major steps needed to obtain a passport through the CIP, which are:
- Sign with Hepta Global to represent you (contact Information below)
- Fill out the application form and prepare your documentation
- Submit the application
- Pass the due diligence check
- Once approved, make the qualified investment
- Obtain your second passport
The process takes about 4-6 months, but the government has an expedited processing option at an extra charge.
To Learn More About CIP Contact:
Chirag Giri
Hepta Global LP
+1 7046590730
email them here
