Please find below our St Kitts and Nevis citizenship by investment FAQ. The answers were meant to be all inclusive. However, if further clarification is needed do not hesitate to contact me directly.
What unique advantages does the St Kitts and Nevis citizenship by investment program offer investors compared to other CBI countries?
The St Kitts and Nevis citizenship by investment program is the grandfather of all the other CBI programs. Established since 1984, the Federation of St Kitts and Nevis created the world’s first CBI program in order to diversify their economy away from the sugar industry. The tremendous success of the program encouraged other countries to use the St Kitts and Nevis CBI as the blueprint for creating their own programs. Additionally, the St Kitts and Nevis government has nurtured the integrity of the program over many years and it offers investors time tested constitutional protection and security.
Another advantage that sets the St Kitts and Nevis passport apart from competitors is the extensive visa free travel options to over 157+ global destinations. Locally, the island federation offers investors the tropical lifestyle with a long established offshore banking industry on St Kitts which is also the location of the Eastern Caribbean Central Bank.
What are the main highlights of St Kitts & Nevis citizenship by investment FAQ?
- 45-60 day accelerated application processing is available.
- Dependents may include spouse, children, parents, grandparents and siblings.
- Dual citizenship is allowed with no requirement to renounce your current citizenship.
- Eligibility for long term US visas, usually 1 year to start with first renewal 3-5 years and next renewal 5-10 years.
- St Kitts and Nevis passport is issued by a neutral country with a non-invasive foreign policy.
- St Kitts and Nevis legal system is based on English Common Law.
- There is no personal interview requirement.
- There is no residency requirement to obtain or retain citizenship.
- No personal income tax on local or overseas income also no capital gains tax, wealth or inheritance tax.
- No requirement to report overseas assets e.g. FBAR
- Visa free or visa on arrival access to 160+ countries including all of the EU, UK, Russia, plus Hong Kong, Singapore and much more.
- Enjoy the right to live and work in any of the CARICOM countries.
- As a citizen of the British Commonwealth you may receive assistance at British Embassies and consulates plus preferential treatment inside the UK.
- English is the national language and there are no fluency requirements.
What advantages does iGlobal offer investors who are interested in obtaining St Kitts and Nevis citizenship?
At iGlobal we are true believers in the benefits of global citizenship. Having personally completed one of the Caribbean citizenship by investment programs, I am intimately familiar with the program benefits, qualification process and its requirements. I have also successfully implemented my own offshore tax residency and asset protection plan. As a result, this St Kitts & Nevis citizenship by investment FAQ is derived from personal experience which is most essential for providing professional consultation.
In addition, iGlobal is well integrated locally and we have a combined 35+ years of experience working with the St Kitts and Nevis citizenship by investment program. Choose iGlobal to ensure your citizenship application is successfully completed at the lowest possible cost with optimal efficiency.
Plus, receive follow up support as you make the important transition outside your country of origin. We will help you to obtain essential documents such as the St Kitts driver’s license, tax identification number (TIN), TIN certification letter and local street address.
Why does the St Kitts and Nevis CBI have mixed pricing requirements for their real estate investment program?
Prior to April 1, 2018 the minimum price requirement for the real estate investment was $400,000 per application. CBI property developments that had been completed before that date had been built to meet the $400,000 minimum price point. Since the St Kitts and Nevis government had decided to lower the minimum price requirement to $200,000 per application effective April 1, 2018, they adjusted the purchase requirements for those properties which had already been constructed targeting the higher price. To accommodate the lower price while still compensating the real estate developers, the minimum purchase price was changed to $200,000 for two applicants working in unison (7 year holding period) or a solo applicant can qualify with a minimum purchase price of $400,000 (5 year holding period). Alternatively, a single applicant may purchase a resale share for the reduced price of $200,000 per application without the need to find a second applicant. The resale share option offers investors a compelling alternative to qualify for the program. There is currently limited resale inventory available.
If I choose the real estate option when can I sell the property?
Investors may to sell the property after a 5 year holding period ($200,000 purchase amount) or 7 year holding period ($400,000 purchase amount).
What is due diligence and why is it necessary?
Due diligence is the process of checking all of the information that you entered on your application. It is imperative to verify things like your identity, employment, education, funding source, residency and criminal history – including INTERPOL. The process is required on all applicants 16 years and older.
How long does it take to acquire St Kitts and Nevis citizenship?
The government review of your application is usually completed within 3 months. However, 45-60 day accelerated application processing is available.
Can my new citizenship ever be revoked?
The citizenship rights granted are embedded in the constitution of the Federation of St Kitts and Nevis. Additionally, St Kitts and Nevis has a stringent due diligence process which prevents the wrong type of applicant from ever being granted citizenship. As a result, no revocations have occurred since the program was established in 1984.Read more about the history of the St Kitts and Nevis citizenship program here.
What is the non-refundable investment used for?
The funds from your SGF contribution are used for economic and community development projects on St Kitts and Nevis. For example, infrastructure to facilitate tourism, employment, hurricane relief, education and medical are some common program themes.
Can I submit the application myself?
Applicants cannot submit their applications directly to the St Kitts and Nevis CIU.
What is considered a family unit for the application?
A family unit consists of the main applicant plus their dependents. Under the program guidelines, 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 and also dependent children age 30 years and below. Additionally, siblings must be financially dependent on the main applicant and must be the brother or sister of the main applicant.
Can my descendants be granted citizenship?
Citizenship is hereditary and may be passed to dependents without the need to reside on St Kitts and Nevis.
What is your refund policy?
Contributions for the SGF are not due until after the government approval is received. However, commitment deposits and due diligence fees in addition to other expenses for services that have already been performed are not refundable. The same is true for the real estate program, although the 10% down payment on the property is fully refundable if the St Kitts and Nevis government rejects the application.
How long is the passport valid before it needs to be renewed?
St Kitts and Nevis passports are issued with 10 years validity for adults and 5 years for children under 16 years.
If my passport or certificate of naturalization is lost or stolen can it be replaced?
Yes. It is required that you obtain a police report/statement which validates your claim.
Does my police background check need to be from both my country of original citizenship and residency?
Yes, the criminal background check is for all countries that you have recently stayed in for over 6 months duration and also countries where you hold citizenship or a residency visa.
Can I renounce my previous citizenship after I have received my new passport?
Yes, renunciation is permitted after you have been issued your new citizenship. However, dual citizenship is also allowed.
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