Since 1984, qualified applicants who made a government approved investment into the local economy acquired a St Kitts and Nevis passport. This was indeed the world’s first citizenship by investment program (CIP). The world’s longest standing CIP has to date provided over 15,000 successful applicants with St Kitts and Nevis citizenship.
St Kitts citizenship has become – far and away – the world’s most well established program. Their program branding is impeccable, therefore the majority of inquiries we receive are all about acquiring the St Kitts and Nevis passport. But is it the best program for you? If so, is it worth paying the premium?
Choosing the best second citizenship option is a complex decision. Be sure you factor in a multitude of considerations and moving parts. If you do not make the best choice, problems could emerge in the future that negate the benefits you thought you would automatically receive. Continue Reading→
St Kitts and Nevis Passport PROS & CONS List
- St Kitts Personal Income Tax Rates – PRO
- Complex St Kitts Tax Residency Protocol – CON
- High Value of St Kitts Citizenship – PRO
- St Kitts and Nevis Brand Premium – CON
- St Kitts Real Estate Program Advantage – PRO
- Saturated St Kitts Real Estate Market – CON
- St Kitts Accelerated Application Option – PRO
- High Price of St Kitts Passport Acceleration – CON
- Extended St Kitts Family Program – PRO
- Certain St Kitts Family Limitations Apply – CON
- Choose the St Kitts and Nevis Passport
Choose iGlobal for St Kitts and Nevis Passport Analysis
How can your agent implement your Plan B if it is untested? At iGlobal we have successfully walked in your shoes on the path to second citizenship and beyond. It is with this agency that you can meet your true potential for tax reductions and global access.
Do not settle for ineptitude. When you contact iGlobal you can rest assured that you will have first hand information and guidance. Therefore, you can make the best decision.
So before you jump on the social media bandwagon, make sure the St Kitts and Nevis passport will accomplish your needs and aspirations in the most efficient manner at the best possible price.
You can thank me later for conducting a proper analysis. But first, learn everything you need to know about St Kitts citizenship using objective pros and cons.
PRO – St Kitts Personal Income Tax Rates
St Kitts and Nevis is considered to be one of the world’s best tax havens. This is certainly an alluring aspect about the country which draws a lot of interest from potential citizenship applicants.
The reason is simple, it is because the government does not impose any personal income tax. Therefore, most successful applicants will indeed expect to acquire the St Kitts income tax benefits. So how can you successfully take advantage of the St Kitts tax laws?
First, the tax laws of St Kitts and Nevis are credible. This means that personal income tax benefits are coincidental. Consider that US tax havens were created only to attract large volume funds flow with complete disregard for legitimacy.
In contrast, St Kitts and Nevis abolished personal income taxes in 1980, long before the Federation even declared independence from the British which happened in 1983. Therefore, low tax benefits are exclusive from the St Kitts and Nevis passport. This is what it means to be a legit tax haven. Nonetheless, St Kitts citizenship comes with tax benefits.
In addition, there is no capital gains tax, no inheritance tax, wealth tax or gift taxes. Rest assured that if you can acquire St Kitts tax residency you will be well positioned to escape the global tax net. Indeed, elimination of all income tax is certainly a possibility with the St Kitts and Nevis passport.
CON – Complicated Tax Residency Protocol
Acquiring St Kitts tax residency is not a slam dunk by any means. First, in order to eliminate your overseas income tax you must convince foreign governments that you are a tax resident of St Kitts and Nevis. How can you do this?
Acquiring St Kitts citizenship will certainly give you a solid claim to tax residency, but you must have more than only one connection. This is especially true if you choose to retain your original citizenship in addition to your newly acquired St Kitts and Nevis passport.
New citizens will need to take additional measures to build a multi-pronged nexus to St Kitts. Additional connections can be acquired by purchasing local real estate, a local street address, a local driver’s license, tax identification number (TIN) and SIM card/phone bills.
The most indispensable component of your offshore tax residency plan will be the TIN. At a minimum, you must have a St Kitts and Nevis TIN to show you are a legal tax resident. If you cannot provide one, your tax residency claim will fall on deaf ears.
How Do You Get The St Kitts TIN?
One important factor to consider is that St Kitts and Nevis, requires you to have a local driver’s license in order to get the TIN. Then once you get the local driver’s license number, you can use it as your TIN number.
However, some overseas banks may think twice before allowing you to use a driver’s license number for a TIN on your offshore account application. In fact, you should expect some credibility issues. Unfortunately, St Kitts and Nevis does not have a formal TIN number to provide citizens. Why should they need one? They do not have any income tax.
So be prepared in advance for this type of scenario. Additionally, you must obtain your TIN certification letter from the St Kitts government. Otherwise, your Plan B could fall flat if you have the wrong citizenship.
How do you get the driver’s license? Since 2020 the St Kitts government has mandated that all citizenship by investment applicants must be physically present in order to get your driver’s license. That means you must travel to the island, no exceptions.
This sounds simple, but make sure you know the process before you try it on your own. Get a proper analysis from a professional agent with the requisite personal experience. Know the facts before you commit and also learn if there are better alternatives.
PRO – High Value Second Citizenship
St Kitts and Nevis requires qualified applicants to either make a minimum US$150,000 nonrefundable donation to government’s Sustainable Growth Fund or invest a minimum of $200,000 into a government approved real estate development.
There are significant differences between the two options. Although the first option requires a lower initial outlay, it is nonrefundable and there is no investment yield. But if you are willing to forfeit the money in advance, this is a risk free option with no worries about property ownership.
However, real estate can be sold at the end of the holding period to a new citizenship applicant. As a result, you have the opportunity to recoup your investment capital while retaining your St Kitts and Nevis passport in perpetuity. Not to mention, high quality St Kitts real estate developments pay a respectable investment yield of 4-5% with no out of pocket expenses.
Additional perks of local property ownership include building a strong nexus to St Kitts and Nevis.
- First, a real estate purchase gives you an income source from your new country of citizenship.
- Second, property ownership in itself is a strong connection.
- You may also get a street address.
Real estate ownership will impress your bank which makes the application more likely to be approved. In addition, a local street address is especially important for offshore account openings.
CON – St Kitts and Nevis Brand Premium
Although it appears to be priced low in comparison to European CIPs, St Kitts and Nevis citizenship is priced at a premium when compared to all other Caribbean citizenship programs with the exception of Grenada. But since Grenada is a US E-2 Treaty country and also permits visa free travel to China which the St Kitts and Nevis passport does not, the St Kitts pricing premium is due to branding.
Therefore, investors will pay a US$50,000 premium for the government contribution option in contrast with the other Caribbean programs or Vanuatu.
Nonetheless, St Kitts does have a long list of visa free travel countries, even though many of them may seem insignificant to a lot of applicants. Besides China, important countries that the St Kitts and Nevis passport gives visa free access to include Russia, all of the Schengen countries in addition to the UK, Ireland, Singapore and Hong Kong.
Don’t overlook the fact that Caribbean competitors to St Kitts and Nevis which are lower priced also feature these countries.
PRO – St Kitts Real Estate Program Advantage
On the bright side, the minimum price set for the St Kitts real estate program is $200,000, equal in comparison to other Caribbean countries. However, you should also consider that approved real estate developments are focused on the St Kitts and Nevis tourism industry which bodes well for yield seeking investors. Plus, room rate premiums can be applied if necessary which helps investors offset global inflation.
Investors can also take note that St Kitts and Nevis is indeed a well established port of call for the Caribbean cruise ship industry. Additionally, the St Kitts intercontinental airport offers direct flights to Canada, the US and the UK.
These advantages increase the investment yield on the tourism based real estate which investors use to qualify. Therefore, you will get the best investment yield and resale security for only US$220,000, if you choose this option available at Park Hyatt, St Kitts.
You have the option to sell the investment at the end of the holding period. As a result, recoup your capital while retaining the St Kitts and Nevis passport in perpetuity.
Furthermore, for limited time, expiring in 2022, investors can qualify for St Kitts citizenship through the purchase of residential real estate priced at US$400,000 and above.
CON – Well Saturated Real Estate Market
But real estate investors on St Kitts and Nevis must choose their investment property wisely. This is because the downside of the St Kitts real estate program is that there are a large amount of incomplete properties.
The ratio of incomplete projects on St Kitts is indeed a bit frightening in comparison to other islands such as Dominica. It is helpful that the St Kitts government has recently implemented new liquidity requirements for developers. Nonetheless, wise investors will limit their options to established St Kitts properties such as Park Hyatt, St Kitts.
Lastly, the purchase of residential property may have benefits. However, the residential program will expire soon which limits the market for resale. It is unlikely that you will sell the property for what you bought since new citizenship applicants are excluded.
PRO – St Kitts Accelerated Application Option
Citizenship applications are time consuming because of stringent background checks, medical exams and source of funds verification. Consider that on the government’s side of things, it normally would take at least 3 months standard processing time.
Some European CIPs can take much longer such as Malta or Bulgaria where it can take 1-2 years. But also Caribbean programs such as Antigua and Barbuda require at least 6-8 months.
So even with the much more efficient programs such as St Kitts and Nevis, it is difficult to plan with any accuracy when you will receive your new passports. Oh, don’t forget to factor in the government backlog which fluctuates from month to month.
In addition, you must consider how long it will take you to fill in the application forms, get bank references, police certificates and all the supporting documents together. Then add this time period to the government processing time. Applicants are looking at a minimum of 3-5 months even for the most simple applications.
Are you in a hurry? If so, one option to consider is the St Kitts accelerated application. This perk offered exclusively by St Kitts and Nevis, ensures successful applicants will receive their passports within 60 days, potentially less. But is it worth the price to have your passport(s) a few days earlier?
CON – High Price of St Kitts Passport Acceleration
If you need your passports in a hurry, you will need to pay the price. All things considered, the St Kitts government is taking a significant risk by putting a rush on crucial aspects of the program such as due diligence. Indeed, the St Kitts and Nevis passport program is already streamlined for efficiency. It is difficult to speed up the process with sacrificing quality.
To assume the risk the St Kitts government demands a steep premium. So investors have got to make the choice, pay the price or wait an additional 1-2 months.
|Applicant||Additional Fee (USD)|
|Spouse of Main Applicant||$20,000|
|Dependents >16 years of Age||$20,000|
|Dependents <16 Years of Age||$500|
PRO – Extended St Kitts and Nevis Family Options
Under the St Kitts and Nevis passport program, qualified dependents of the main applicant may include:
- parents and grandparents age 55 and above;
- dependent unmarried, childless siblings who are 30 years of age and below who are financially dependent on the main applicant and are the brother or sister of the main applicant;
- also dependent children age 30 years and below.
Program fees are applied to your application according to the following table:
|Family Addition (Amounts in USD)||SGF Donation||Real Estate|
|Spouse of Main Applicant||$25,000||$20,000|
|Dependent Children <30 Years of Age||$10,000||$10,000|
|Sibling of Main Applicant <30 Years of Age||$20,000||$40,000|
CON – Certain St Kitts Family Limitations Apply
- St Kitts and Nevis limits the inclusion of siblings to those related to the main applicant;
- siblings of the spouse of the main applicant are excluded.
- Additionally, dependent children 18-30 years of age must be attending school full time and must be fully financed by the main applicant.
In comparison, Dominica allows inclusion of unmarried adult dependents age 18-30 years of age that are “substantially supported” by the main applicant but also the spouse of the main applicant.
In contrast with St Kitts and Nevis, Dominica has done away with the requirement for adult children to be enrolled as a full time students and financially dependent on the main applicant.
Dominica will also allow siblings to be a relation of the spouse of the main applicant. In comparison, St Kitts only permits siblings related to the main applicant.
Last but not least, there are certain cost considerations to be taken into account. Contact me for details.
Choose the St Kitts and Nevis Passport
Inclusive analysis is imperative before committing to a second citizenship program. Indeed, St Kitts and Nevis is one of your best options to choose from. Although it is the most popular, there are certain cost considerations. In addition, applicants must know in advance that all of their objectives will be obtainable.
My partners and I have 35+ years of experience working with all of the Caribbean citizenship programs, plus Vanuatu. As a result, we are well integrated with the local real estate developers and government agencies.
But most of all you can rest assured I have walked in your shoes. Therefore, it is personal experience that leads the way forward. I know it works because I have done it, I do not only advise others to do it! Now it is your turn.
Contact me today to put your customized offshore solution into practice and experience freedom firsthand.
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