Investment Immigration: Saint Kitts and Nevis Immigrant Investor Programme
Saint Kitts and Nevis is a small country in the West Indies, and forms part of the Lesser Antilles. It is located about 2000 kilometres southeast of Miami, USA. The country is a democracy and the Queen of England is its Head of State. The capital of the country is at Basseterre on the larger St. Kitts island, which also serves as the political centre of the nation.
The Citizenship-by-Investment Programme was started by St. Kitts and Nevis in 1984. It is the oldest programme of this kind in the world. Under this programme, the Citizenship by Investment Unit of St. Kitts and Nevis has laid out rigid investment requirements and conducts thorough due diligence so as to attract investor citizens of good character.
Benefits of Citizenship of St Kitts and Nevis
- No minimum residency required
- No personal visit required
- Visa-free travel to all countries in the Schengen zone
- Visa free travel to Canada, Switzerland, the UK and Ireland
- No income or wealth tax
- Involves a simple application procedure with minimum formalities
- Family members can be included in the application form
- Right to reside in any of the 15 Caribbean community countries
- Citizenship for lifetime
- Second passport with permission to keep existing citizenship
Investors above 18 years of age can apply for Citizenship by Investment under two different options:
- Investment in Real Estate
- Investment in the Sugar Industry Diversification Foundation
Investment in Real Estate
To qualify under this option, the applicant must invest a minimum of US $400,000 in designated real estate. Joint investment option is also available, where each investor should make an investment of the minimum amount.
The application is reviewed by the government and the final decision is taken by the Cabinet.
The investor has to bear all costs related to the purchase of the real estate – conveyance fee, compulsory insurance fund contribution, and other charges amounting to approximately 4-5 percent of the purchase price.
Once the application is approved in principle, the investor has to pay the following fees to the government of St. Kitts and Nevis:
Main Applicant | US$ 50,000.00 |
Spouse | US$ 25,000.00 |
Each child of main applicant under 18 years of age | US$ 25,000.00 |
Each qualified dependent of main applicant above 18 years of age | US$ 50,000.00 |
Children between 18-25 years of age should be supported fully by the parents and must be in a full time educational institution.
Investment in the Sugar Industry Diversification Foundation
The SIDF (The Sugar Industry Diversification Foundation) in St. Kitts and Nevis is a public charity audited by PricewaterhouseCoopers. An investor using this option for citizenship can invest in the following ways:
Category | Contribution |
Single Applicant | US$ 250,000 |
Applicant with a spouse and two children below 18 years of age (up to three family members) | US$ 300,000 |
Applicant with a spouse and four children below 18 years of age (up to five family members) | US$ 350,000 |
Applicant with up to seven family members | US$ 450,000
|
Over and above the seven dependents, unmarried dependent children aged between 18-25 years of age can be included at an additional fee | US$ 50,000.
|
The above contribution is inclusive of all government fees except for the due diligence fees.
Due Diligence Fees, Background Check Fees, and Processing Fees
Main Applicant | US$ 7,500 |
Dependents above 16 years | US$ 4,000 |
Permitted Dependents
- Spouse of the main applicant
- Child of the main applicant who is:
- below 18 years of age
- between 18-25 years of age, fully supported by main applicant and in full time attendance at a recognized educational institution
- above 18 years of age and is physically or mentally challenged
- Parents or grandparents of the main applicant and/or his spouse above 65 years of age, fully supported by the main applicant.
It takes 90 days to process a citizenship application in St. Kitts and Nevis.
Follow Immigration.ca:
Follow @immigrationca