St. Christopher and Nevis
The Federation of St. Kitts & Nevis is the smallest sovereign state in the Americas. Located in the West Indies, the federation unites the islands of St. Kitts and Nevis, but each have their own legislation.
The English-speaking islands remain under-developed by Caribbean standards, but tourism, the principal economy of the islands, has been growing steadily, bringing with it new hotel and resort developments. Both islands have international airports, and two ferry lines connect them.
St. Kitts and Nevis is one of only 3 countries in the world that offer instant citizenship or: citizenship by economic contribution. There is no requirement to spend time in country, and there are basically two paths to citizenship in St Kitts and Nevis in order to recieve a Passport from St. Kitts and Nevis.
Donation to Sugar Fund
The donation to the sugar fund is a $250,000 one time donation to the “Sugar Industry Diversification Foundation” (SIDF), which was set up to benefit sugar workers displaced by the elimination of large-scale sugar cane production in 20
Honestly, this isn’t really a great option. If you are able to gather $250,000 for a citizenship – you might as well just go for Dominica which is about half the price, or simply step up and make an investment in real estate.
There are 2nd option involves an investment in approved real estate property on the Islands of St. Kitts and Nevis.
Investment in Real estate
To apply for citizenship under this option, you must invest a minimum of $400,000 in qualified real estate. This is 50,000 more than in 2011, when the price was raised due to demand for this program. It is likely it will rise again.
Should you decide to move forwards, funds for your investment are placed in escrow. They will only be released if your application for citizenship is approved.
By making this investment, you can This investment qualify yourself, as well as your spouse, and your minor children under the age of 18 for citizenship.
You can also apply for your children 18-25 enrolled full-time in a university as well as adult dependent children or parents.
You don’t have to live in the housing you have purchased, in fact you can rent it out. Many projects have built in property management, and the real estate can even pay for itself.
Certain projects will even give you cash back on your real estate contribution – for instance, you come up with the 400,000 k and then they will return 200,000 to you as you can strip equity on the property.
Your only obligation is that you must hold on to the property for 5 years, and then afterwards you can sell it. The person who buys the property from you can even receive citizenship.
There are dozens of qualified developments, ranging from one-bedroom units for the minimum investment of $400,000 to multi-million-dollar villas with spectacular ocean views.
There is something for everyone, and it is even possible to arrange a fractional ownership scheme where you can go in with other investors, to collectively buy more real estate. For instance, you could buy a one-quarter share of a $1.6 million beachfront villa for $400,000.
Other qualified investments for citizenship by investment in St. Kitts include time shares, raw land, and even yacht slips.
The program has become streamlined for 2012 – with the government promising a decision within three months of filing an application.
See the table below for a breakdown of costs.
|ST KITTS-NEVIS ECONOMIC CITIZENSHIP: ESTIMATED COSTS (USD)|
|Real Estate option||Single applicant||Applicant & spouse||Applicant, spouse & 2 children 16-17||Applicant, spouse & 1 child 18-25|
|Est. closing costs (7%)|
This is not just a citizenship but also a very useful travel document. The passport gives you visa-free access to more than 120 countries, including all 27 members of the EU. If you have British ancestry, a St. Kitts & Nevis passport may also entitle you to live and work in the United Kingdom.
You will need a visa to enter the United States on a Kitts passport. However, this is easy if you can prove you have a permanent home outside the United States and you have a clean criminal background.
A St. Kitts & Nevis passport very useful for opening a offshore bank accounts and establish offshore businesses. Unlike the United States, St. Kitts & Nevis doesn’t tax on the basis of citizenship.
You would pay tax only on income you earn on one of the islands of St. Kitts & Nevis. Kitts & Nevis does not have any capital gains taxes, wealth taxes, or inheritance taxes of any kind. There are also no exchange controls and offshore banks and service providers like dealing with St. Kitts & Nevis passport holders, and many banking and investment opportunities will open up to you that would not be available as say, an American citizen.
This is a true investment – that also comes with a first-class passport. You can also use a self-directed IRA or 401K to buy into this investment. However, be careful as you can’t legally live in the property until you distribute the property from the tax-sheltered plan and pay income tax on the distribution.
- You can re-finance the condo up to 75% less the pro-rated interest from five years. If you purchase the residence for, say, $400,000.00, you can secure financing the next day and they’ll return around $225,000.00 to you. Initially you’ll need the full amount for the Citizenship qualification but then once you re-finance, you’re only invested $175,000.00. The term of this financing is five years and the sole-security is the residence.
- You can put the condo into the rental pool and receive cash flow for five years.
- After five years you can sell the residence and keep your passport.
- Also, the new buyer can apply for the citizenship program too.
- The GREAT investment:: the citizenship program sets a minimum resale value to your property and this year the government raised that minimum by $50,000.00.
- As the popularity of the program gains, the government plans to continue to increase this minimum. This may be one of the best investments you could ever make.
- If in five years the minimum is $500,000.00; You’ve just earned whatever rental income over five years and possibly $100,000.00 in gains off the sale price of the residence.
- There’s a good return on your money, a good place to accumulate your wealth and a passport from St Kitts and Nevis.
About the Passport and Tax Advantages
The St Kitts and Nevis passport allows you to travel to 120 countries visa-free even the Schengen Countries (Europe), and also to the UK and Canada – as well as many other countries.
US citizens can now travel to Cuba! You can also take up residency in all of the CARICOM, which make up most Caribbean countries.
If you’re from the US, you can rest assured because St. Kitts doesn’t notify the US that you’re a citizen or have a 2nd passport.
Real estate you own offshore will not appear in a domestic asset search. Moreover, foreign real estate you own in your name does not need to be reported to the IRS or U.S. Treasury as a “foreign bank, securities, or ‘other’ financial account.”
If you rent out the real estate, the income generated is taxable and is reportable to the IRS.
Renting out the real estate is common for investors in St. Kitts.
Kitts is an amazing opportunity – if you’re looking for:
1. A legitimate passport and citizenship that is instantly received
2. High yielding real estate investment
3. Relaxing for a few months each year on a undiscovered tropical island
Buying qualifying real estate in St Kitts and obtaining a second passport as a bonus is something you should absolutely consider.
We can provide this entire process – the first step is a consultation with me personally – where I will walk you through and outline ALL passport options, including St. Kitts.
Should you decide to move forwards, the $1000 will be credited towards the investment.
How much is your freedom worth to you?
Email us:: PassportProvider[AT]Hushmail.com