What Do Countries Gain From Citizenship By Investment Programs?
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$200,000 – joint investment with another main applicant (each applicant pays $200,000, and $400,000 in total). The donation amount may vary based on the number of dependents included in the main applicant’s application. To qualify for citizenship as a single applicant, you will be required to make a government donation of $150,000. Citizenship by investment in St. Kitts and Nevis is available through two options. Being one of the most trusted and successful programs in the world, St Kitts and Nevis Citizenship Program offers fast-track routes to acquiring a second passport in 2-3 months. The passport of St. Kitts and Nevis grants visa-free access to over 156 countries, including the European Union countries and the United Kingdom.
Frequently Asked Questions About St Kitts Citizenship By Investment
From its booming trade and bustling tourism industry to its paradise beaches and offering of a peaceful and private lifestyle, the program’s unique benefits are enjoyed by global citizens worldwide. St. Kitts and Nevis is the smallest country among all the nations that offer CBI programs in the Caribbean. Fewer people imply less economic potential, turning it into a drawback. St. Kitts and Nevis does not have any income, wealth, and inheritance tax.
The program is often informally recognized as the law firm or Saint Kitts Citizenship Program. Applicants may buy property approved by the Government and worth at least US$400,000 or buy shares of the same minimum amount in real estate development. Besides, the applicant must maintain the investment for at least five years. St. Kitts & Nevis is a gorgeous two-island nation unique for its tropical temperatures and enchanting, clear blue waters with a vibrant tourism and trade economy. The Island is effortlessly accessible through direct flights to and from the US and Europe. Residents have an array of mouth-watering benefits including dual citizenship and tax-free global income.
St Kitts Citizenship By Investment
After signing the contract at the office of the company or remotely, the preparation of the necessary paperwork and filling out the submission form begins. Migronis takes care of translation and notarization of documents and also helps to get necessary documents if needed. A visit to the island during and after the citizenship obtaining process isn’t required. An investment of at least $200,000 in a real estate project officially approved by the government.
“Sotheby’s International Realty is the number one network for luxury properties in the world. The Saint Kitts and Nevis Program provides for the issuance of passports to parents who have reached the age of 55. After a certain period, this investment can be sold to the next investor, while the passport of a citizen of Saint Kitts and Nevis remains for life and is inherited. St. Kitts & Nevis recognizes dual citizenship, so you can still benefit from your current citizenship.
A trust in the country is exempt from taxation on any foreign income. The two island country has refused signing any tax treaties with other countries to avoid such disclosure issues. Until 1 November 2022, applicants can qualify for citizenship under the Programme by purchasing a private home worth USD 400,000. Two or more main applicants may also apply together provided they each contribute USD 400,000 towards the property.
The real estate option of the St. Kitts and Nevis Citizenship-by-investment program involves an applicant making a real estate investment on the island which is valued at no less than US$400,000. The Government of St. Kitts has already put aside real estate solely for this purpose. Additionally applicants over 18 must pay registration fees of US$50,000, while dependents under 18 pay fees of US$25,000.
Why Do I Need An Agent To Apply For Citizenship By Investment?
With placid and clam trade winds, this landscape remain cool and peaceful all around the year. Thus, these add to the place’s epitome of the lush tropical paradise and attract more business men round the globe to invest here. Besides providing a peaceful and joyful ambiance, St. Kitts also provide people with great opportunity to invest in the real estate. You will be amazed hearing that once you are a member by Investment, no income tax, wealth tax and no residency requirements to have citizenship. Moreover, there is a clubhouse and you can acquire a membership with extras services.
Another option to qualify for citizenship and obtain a passport is to invest in real estate. It is notably more expensive, but you do have a chance to recapture some of your investment. All Caribbean island citizenship by investment programs offer the non-refundable donation route, and St. Kitts and Nevis is no different.
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Children who are aged between 18 – 25 years pay additional Government fees. The Accelerated Application Process approved by the Government of St. Kitts and Nevis in October 2016 allows applications with the Citizenship by Investment Program to be accelerated to a 60 day processing period. For those projects on the Government’s infrastructure list, they can be advertised seeking expressions of interest for initial review by the Government and the creation of individual project “short lists”. The Government will endeavor to ensure that to the extent practicable, shortlisted companies will not only maximize local employment but also embark upon programs including transfer of technology and capacity building. Is it worth buying real property in Saint Kitts to obtain citizenship? Global Mobility – The St. Kitts and Nevis passport grants its holder visa-free access to 156 destinations worldwide, the most prominent of which are the UK, EU, Hong Kong, Russia, and Singapore.
The final potential downside for some is that St. Kitts & Nevis is the smallest of all the Caribbean CBI islands. It has the smallest population which could mean less economic activity and business opportunities. Due its small size and remoteness, it is also regularly hit by violent hurricanes, which poses an additional risk if you invest in real estate there. Investors together with any family members can apply for citizenship by making a donation of USD 150,000, or through an investment in real estate purchase of more than USD 200,000. The prime minister also stated that the citizenship by investment gives applicants the privilege to travel the globe due to the high respect and relationship that the Island country has with most countries in the world.
St Kitts And Nevis Citizenship Program For Foreigners By Investment
The Sustainable Growth Fund was created by the St. Kitts and Nevis government in 2006, offering an opportunity for investors to make a significant contribution to the economic and social prosperity of the twin-island nation. There are two main investment options to choose from to acquire St Kitts and Nevis second citizenship. Grandparents of the main applicant or of the spouse if aged 65 or above, and living with and fully supported by the main applicant. Parents of the main applicant or of the spouse if aged 55 or above, and living with and fully supported by the main applicant. A key benefit of the program is that it extends to the applicant’s family members, meaning they are also eligible for the citizenship program. Make a qualifying investment first, by either making a government-approved real estate purchase to the value of US$400,000 OR make a financial donation to St. Kitts and Nevis’ Sustainable Growth Foundation to the value of $150,000.
Besides this, you will have to pay for due diligence fees, $7500 for the main applicant and another $4000 for each dependent who is over the age 16. Investment into an approved real estate development, either full title or shares valued at the minimum amount. The documentation required for an application is the same as with the real-estate option and the application procedure is straightforward. Siblings of the main applicant (or his/her spouse) under the age of 30, can also be included in the application if they are unmarried, childless and financially dependent on the main applicant. As evidenced by all of the benefits above, there are many reasons why the Saint Kitts and Nevis Citizenship by Investment program is considered one of the most successful programs of its kind.
St Kitts and Nevis passports are CARICOM passports that are issued to citizens of St Kitts and Nevis for international travel. They are biometric documents, ensuring a greater level of safety and facilitating cross-border procedures. Holders of St Kitts and Nevis passports enjoy visa-free or visa-on arrival access to about 150 countries and territories worldwide.
To qualify for the investment program, you need to make a good amount of investment to the country. For every single applicant, $200,000 should be paid and for every work permit turkey additional member $15,000 should be made. But if you make donation to the Sugar Industry then the fee will include all government and due diligence charges.
Citizenship by investment allows individuals to apply for citizenship without having to show a prior connection with a nation. In other words, citizenship by investment allows you to become a citizen of a country even if you have no family in that country, and even if you have never lived there. Citizenship by investment is generally open to all who choose to apply, and is especially popular among high net-worth individuals and entrepreneurs looking to make an investment. In 1984, St Kitts and Nevis launched the world’s first-ever Citizenship by Investment Programme, making the Caribbean the first region to offer citizenship by investment to foreigners. Today, all Caribbean programmes offer at least two options for becoming a citizen through an investment. The first option is to contribute to a government fund, which is used to develop the local economy.
The number of these programs is constantly increasing as more and more countries realize the economic advantages of opening their doors to immigrant investors. Many passports are quite restrictive in their visa-free mobility, forcing citizens to obtain visas whenever they Turkish staying permit need to travel abroad. A second passport can offer individuals from these countries increased global mobility. For example, the passport of Pakistan allows visa-free entry into only 40 countries, whereas the passport of Cyprus allows visa-free entry to 164 countries.
Our specialized team will work with you to collect, translate and notarize the documents required, while ensuring all documents adhere to St. Kitts & Nevis government’s requirements. Within 4 weeks after fulfilling the investment condition, a passport and a certificate of naturalization are issued. Immigrant Invest is a licensed agent of the St Kitts and Nevis citizenship program. Dual citizenship is allowed, and applicants under the program are free to visit, work, live and study in St. Kitts and Nevis upon obtaining citizenship. Their citizenship will also grant applicants a St. Kitts passport, which can be passed onto subsequent generations. Those who apply to become citizens of St Kitts and Nevis must make a one-time investment to its Sustainable Growth Fund.
Established in 1984, it is a perfect option for investors looking for a second passport for travel and ease of access to a number of countries. The ability to pass one’s citizenship to future generations by descent is one of the attractive features this Program. Both countries received perfect scores for their lack of mandatory travel or residence requirements for applicants, along with their simple processes, due diligence procedures, and family-friendly structures. This is due to the country’s Accelerated Application Process that bestows citizenship on successful applicants within 60 days. Citizenship by investment program in St. Kitts and Nevis is very well regarded and is considered to have an excellent reputation. The processing time of ST. KITTS & NEVIS citizenship by Investment program is about days.
The St. Kitts and Nevis Citizenship-by-Investment Program requires applicants to make a significant economic contribution to the country. In exchange, and subject to a stringent application procedure including thorough background checks, the applicants and their families are granted full citizenship. When you acquire citizenship under the St. Kitts and Nevis citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. Several countries, including St. Kitts and Nevis, have adopted programs that allow the acquisition of citizenship on the basis of an investment and/or a direct contribution to the state as a means of developing the country. Agent fees — this is the processing fee paid to the agent — includes professional and legal fees that cover the agents’ fees, application for citizenship and passports, courier delivery and other administrative expenses.