ABOUT ST. KITTS AND NEVIS
The Federation of St. Kitts and Nevis is the smallest sovereign state in the Americas. Located in the Leeward Islands of the West Indies, the federation unites the islands of St. Kitts and Nevis, although both islands maintain certain independent regulation. The English-speaking islands remain underdeveloped by Caribbean standards, but tourism, which is the principal economy of the islands, has been growing steadily, bringing with it new hotel and resort developments. Both islands have international airports and have ferry lines that allow for easy transportation to the islands, as well as between them. They are still very connected with nature, as evidenced by St. Kitts' vervet monkey population (est. 53,000) slightly exceeding that of humans (est. 51,000).
St. Kitts and Nevis is a full and participating member of the Caribbean Community (CARICOM), the Organization of Eastern Caribbean States (OECS) and the Commonwealth of Nations.
The island of St. Kitts is experiencing quicker growth and enjoys more tourism infrastructure than Nevis. Approved projects, which include exotic wood cottages on the beach, restored sugar plantations with traditional plantation-style homes, modern condominiums, marinas and golf courses are now dotting the prime bays and beaches. Also, there are various ownership options at a mass-market beach resort with casino.
Nevis is more laid-back, less populated and is the smaller of the two islands, so it is no surprise that development on Nevis is much less evident. Although Nevis supports one of the few true five-star resorts in the Caribbean and a spectacular golf course, the island has retained a simple elegance. Secluded development and old plantations offer the same real estate options as St. Kitts, but on a more sublime level.
WHY ST. KITTS AND NEVIS
• Under six months for your citizenship to be completed
• Very high rate of approval for upstanding citizens
• Unique opportunities of investment via the citizenship investment program
• St. Kitts and Nevis offers a real estate investment program in exchange for a passport
• Generous tax regime - You are not liable for taxation even if you decide to reside in St. Kitts and Nevis (no wealth, gift, inheritance, foreign income or capital gains tax)
• There are no restrictions on dual citizenship
• You and your family enjoy full and irrevocable citizenship and passports
• One of the few programs which allows for children's age limit of 25 years
• Economically, legally and socially stable country, which is part of the Commonwealth with democracy based on British parliamentary system
• Tax free trade with Canada
• Duty free trading throughout the Caribbean
• No personal income tax
• No restriction on the repatriation of profits and imported capital
• Tax holidays for certain qualified investment projects
• Generous incentive packages, including corporate tax incentives, full exemption from import duties, tax relief benefits and export allowance
• No requirement to reside in, or even visit, the country to maintain, or obtain, citizenship
• Citizenship gives you the ability to travel to Cuba. You can also take up residency in all of CARICOM, which includes most Caribbean countries
CITIZENSHIP BY INVESTMENT PROGRAM OPTIONS
The granting of citizenship is at the sole discretion of the government of St. Kitts and Nevis, and there is no guarantee that the applicant will be approved; however, legal advisors carefully screen the investors prior to submitting their applications; therefore, they are rarely refused. Applications are processed by a carefully-selected network of lawyers and authorized financial services providers. There are currently two options available to qualify for the Citizenship by Investment Program. One option is through S.I.D.F. Contribution and the second is through acquisition of government approved real estate.
Sugar Industry Diversification Fund (S.I.D.F.) Contribution
The Sugar Industry Diversification Foundation is a public charity established to support displaced St. Kitts and Nevis sugar workers. The fund researches and financially aids the development of industries to replace the sugar industry. In order to qualify, the investor commits a non-refundable SIDF charitable donation of $250,000 for a single person, $300,000 for a family of up to four people, $350,000 for a family of six and $450,000 for a family of up to eight, with $50,000 for each dependent child that brings the family size above eight. Upon completion of the due diligence process, instructions will be provided for transfer of funds into an escrow account and citizenship is then granted. The process generally takes two to three months, which is affected by the background check process.
In addition to the contribution to the SIDF and professional fees, the following non-refundable fees apply. Application fees of $250 per member of the family are due at the time of application, as are due diligence background check fees of $4,000 (spouse and each dependent over 16 years of age) to $7,500 (main applicant).
With the SIDF option, there is no long-term commitment to the islands; however, the SIDF option is a non-refundable contribution, while purchase of real estate through the Citizenship by Investment program can provide good returns, as well as appreciation.
Real Estate Purchase Option
The Federation of St. Kitts and Nevis expects tourism to be a pillar of its economy far into the future. In a move to increase tourism related development, infrastructure and services, the Citizenship by Investment program allows for real estate acquisition in approved projects. TDV Passports' staff is very familiar with all of the government approved real estate projects and developers in St. Kitts and Nevis, so we will assist you step by step with all that you need to know to insure that you are making the absolute best decision when making your real estate investment.
To qualify for citizenship, the investor must enter into contract to purchase real estate valued at $400,000, or more, on either of the two islands. Once the purchase contract has been signed and the developer has received the initial deposit, which typically is 15-20%, you then may apply for citizenship.
Qualifying real estate investments include houses or condos, which are completed or under construction. Land-only purchases do not qualify, but the exception to this rule is the mega-development on the south peninsula of St. Kitts, where lots, starting at $700,000, may be purchased to qualify for the citizenship program. These lots do not have to be built on in any period of time. There are multiple marinas under development and marina slips which also qualify for the citizenship program. The process generally takes two to three months, which is affected by the background check process.
In addition to the required real estate investment amount, there are governmental, professional and processing fees due throughout the process. Such fees include non-refundable application fees of $250 per applicant, due diligence fees of $4,000 (dependents over 16 years) to $7,500 (main applicant) per applicant in the family. Such fees are paid to the government at the time of application.
Upon approval of your application, registration fees are then due to be paid, which are $50,000 for the main applicant, $25,000 for spouse and each child under 18 years of age and $50,000 for each dependent over 18 years of age.
Once your citizenship has been approved, the real estate transaction will then be completed. The only restriction put on your citizenship is that you may not sell your property within five years from date of purchase. In theory, if the property is sold within this five year period, your citizenship may be revoked. After the five-year period has been completed, the real estate may be sold and your citizenship is yours to keep indefinitely. Real estate developments on St. Kitts and Nevis cater to the Citizenship by Investment program and are specifically designed to make ownership as hassle-free as possible. Rental and property management programs take the stress out of owning the property. TDV Passports' staff has relationships with developers that offer a guaranteed four percent (4%) fixed annual net return on, based on the purchase price of your property, with the developer paying all the HOA fees, property taxes and property insurance.
Currently, whole ownership of one property is the norm, with the government-approved real estate developments, but recent modifications to government regulations allow for fractional ownership of properties, allowing two or more investors to apply for citizenship by purchasing one property, as long as each investor contributes at least $400,000. Many of the developments are now offering, or planning to offer, fractional ownership options for investors.
TDV Passports' staff can also assist you with immediate refinancing options, which allow you to have over half of your real estate purchase amount loaned back to you, with no payments for five years, allowing your financial commitment to be greatly reduced, while also significantly increasing the 4% annual rate of return, if you elect to take advantage of both programs in conjunction with one another. Over time, the government of St. Kitts and Nevis strives to continually increase the required real estate investment amount, which in turn, protects the value of your real estate investment. We have no control over the government doing this of course, nor can guarantee that it continues to occur, but it does behoove the government to do so, as it fosters continued growth in their program and economy.
OUR SERVICE
• Our staff of experts will assist you step by step through the entire process, utilizing our many years of experience in St. Kitts and Nevis to insure that everything is handled in the most efficient and proper manner
• Our staff will assist with flights and recommend hotels
• Our staff will arrange a time and place to meet you upon your arrival to the islands
• Our real estate staff will arrange a tour of the best real estate projects that fit your wants and needs
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