The Economic Citizenship
The economic citizenship program operated in St. Kitts and Nevis is often deemed ideal, as it has continued without incident since 1984.
There are two main components to the process: real estate purchase and payment of a cash sum. For a minimum US$400,000.00 investment a prospective expatriate can tackle the first requirement. The cash sum is then US$35,047.00 for a single applicant, though a spouse and total of two dependent children can also gain citizenship for US$15,047.00 a head.
The economic citizenship program of St. Kitts and Nevis requires an investment lower than you might have expected, considering that you get not only citizenship but some prime property, pre-selected by the Government as worthy for foreign investment.
Because St. Kitts and Nevis is a member of the Commonwealth of Nations, meaning it’s a former British protectorate, you also earn some special privileges in the UK, Canada, and other member nations.
The passport from St. Kitts and Nevis allows visa-free travel to more than 90 countries including the UK, Canada, Switzerland and Sweden.
As a citizen of St. Kitts and Nevis you can live and work in the country at any time, and as a Commonwealth citizen you will enjoy special rights and privileges in many other Commonwealth countries, including the UK. You are not liable to taxation in St. Kitts and Nevis on any income earned outside of the country.
On purchasing property in an approved development such as Sunset Ridge, the owner of the property can then make the necessary application for economic citizenship.
The applicant must use a local lawyer or a company authorized by the Government to conduct offshore financial services in the country. The applicant will have to complete a questionnaire setting out supporting documents required with the application and a fee of US$3,500.00 per person is payable for due diligence to be conducted by the Government.
On the due diligence being successful, the application is approved in principle and on payment of the relevant fees stated above, the applicant is granted economic citizenship.
Benefits Of Economic Citizenship
- Citizenship is awarded within approximately 90-120 days of filing an application
- Citizenship for life with an unlimited number of eligible dependents, passed down through generations (applicants are not required to visit or reside in St. Kitts)
- Family security is ensured as the spouse, children and elderly parents may also obtain citizenship
- Full residency status and the right to work in St. Kitts & Nevis
- Free from personal income, capital gains, gift, wealth and inheritance taxes
- Dual citizenship is permitted and open to all nationalities without the requirement to notify the applicant’s home country, as per the law of St. Kitts & Nevis
- Exit options provide the ability to realize capital gain and income generation on your investment
- A country that provides a favorable business development environment, where the currency is pegged to the US Dollar