19 Oct St Kitts and Nevis citizenship by investment: Secure Your 2023 Passport to Prosperity
For any investor looking to combine an idyllic setting and lifestyle with significant investment benefits, St Kitts and Nevis has it all. Established in 1984, the St Kitts and Nevis citizenship by investment visa program is the oldest, most trusted, and most successful plan of its kind.
This in-depth guide takes you through the application process and its many benefits, exploring these topics:
- St Kitts and Nevis citizenship by investment options
- Eligibility requirements for St Kitts and Nevis citizenship by Investment program
- Benefits of St Kitts and Nevis’s citizenship program
- How to apply for a St Kitts and Nevis citizenship program – step-by-step
- St Kitts and Nevis citizenship by investment costs explained
- Taxes system in St Kitts and Nevis for Investors
- Documents required for St Kitts and Nevis citizenship by investment program
- How strong is St Kitts and Nevis passport?
- How many countries can you visit with a St Kitts and Nevis passport?
- St Kitts and Nevis passport ranking
St Kitts and Nevis citizenship by investment options
There are three investment options for investors applying for Saint kitts and Nevis citizenship by investment. You can make a contribution to the Sustainable Growth Fund (SGF), starting at USD 150,000 for a single applicant, or you can choose to purchase Government-approved real estate, with a minimum investment USD 200,000.
The SGF option benefits the St Kitts and Nevis by raising funds to invest in healthcare, education, alternative energy, infrastructure, tourism and culture, heritage, environment, climate change and resilience and indigenous entrepreneurship.
There is also a third way – the Alternative Investment Option (AIO), which allows you to become either a Public Good Project Developer (PGPD) or a Private Enterprise Developer (PED). The projects must be Government-approved.
With the PGPD option, the State owns the asset at the end of an agreed period, giving the developer the chance to see a good ROI. The minimum investment for this scheme is USD 175,000. With the PED option, the asset is privately owned. The minimum investment here is USD 200,000.
Eligibility requirements for St Kitts and Nevis citizenship by Investment program
The main citizenship by investment program applicant must be over 18 and meet the application requirements for the SGF, Real Estate or AIO investment options. No minimum stay in the country is required.
For a successful application, you will need to be in generally good health with no criminal record and must successfully pass due diligence checks. You will also be subject to a credit check to ensure the funds you are investing are your own.
Applicants can also include their spouse, any children under 31, parents, grandparents (aged 55-plus), and any unmarried, childless dependent siblings under 31.
Benefits of St Kitts and Nevis’s citizenship program
The Federation of St Kitts and Nevis is an exceptionally beautiful two-island nation in the West Indies blessed with tropical temperatures, clear blue sea, white sandy beaches and a lively, cosmopolitan trade and tourism-fuelled economy. It is one of those precious-few places that give a true sense of ‘Paradise on Earth’.
Saint Kitts and Nevis consists of two Caribbean Windward Islands in the Antilles, geographically in North America. The country is a member of the Commonwealth and the CARICOM association of Caribbean nations and is the smallest country in the Americas, with an area of just 261 sq. km and a population of 54,961.
The capital of Saint Kitts and Nevis is Basseterre (on Saint kitts island), which is also the main port for passenger and cargo entry. The islands are well-connected, with direct flights to and from many international airports. Basseterre has The Robert L. Bradshaw International Airport, and there is a second airport on Nevis, serving other Caribbean islands.
The official language of the islands is English. The local currency is the East Caribbean Dollar (XCD), which has a fixed exchange rate with the US dollar of 2.7: 1.
Saint Kitts and Nevis passport holders beneﬁt from a highly attractive tax regime, with no foreign income, wealth, gift, inheritance, or capital gains tax. You will also have the opportunity of tax-free trade with Canada and duty-free trading across the whole Caribbean region.
Other at-a-glance benefits of St Kitts and Nevis include:
- Visa-free and visa-on-arrival travel to around 160 countries and territories. This includes visa free travel to 136 countries, including the EU Schengen area, Switzerland and the UK.
- No residency in the country is required.
- No interview process and no education, language or management experience checks.
- No personal visit to Saint kitts necessary to set up your citizenship program application (even if you’re choosing the real estate option).
- Tax free foreign income, with no inheritance or wealth tax.
- Lifetime citizenship once your naturalisation certificate has been issued.
- Easy second passport and citizenship access for family members.
- Dual citizenship benefits: no need to renounce your current citizenship(s), and your home authorities are not notified of your new citizenship.
- Program guaranteed by the Saint kitts and Nevis government since 1984.
- Short application processing time.
- Free movement in the CARICOM region.
- Stable political and financial system, as you would expect from an independent member of the Commonwealth of Nations.
How to apply for a St Kitts and Nevis citizenship program – step-by-step
During the first month of the application process, there are three basic steps in the process:
- Step 1 – Having decided to pursue the SGF, real estate or AIO options, sign the Huriya contract and pay the initial retainer.
- Step 2 – Huriya assists you in gathering all the required documentation and completing the various Government application forms for submission to the Saint kitts and Nevis Citizenship-by-Investment Unit (CIU).
- Step 3 – Make your second payment. The file of papers will then be submitted.
The next two steps take place during months 2 to 4:
- Step 4 – Receive your approval letter from the CIU and make your third payment.
- Step 5 – Take receipt of your naturalisation certificate.
The final step occurs in month 5:
- Step 6 – The CIU returns your passport(s) to Huriya Private, and they can be picked up from our office or delivered to your home address (locally or internationally).
The St. Kitts and Nevis CIU processes all applications. There is also an accelerated application process (APP) available with a 60-day processing time frame. The CIU examines every application carefully and occasionally asks applicants to attend an interview.
Strict due diligence checks are performed as part of the process, and an application may be declined if the applicant makes a false statement or omits any relevant information. This is why all would-be investors are strongly advised to enlist the help of professionals such as Huriya Private. There are various prescribed government forms that all applicants must complete, and this is one of the areas in which our expertise can ease the process considerably.
Huriya Private will collaborate with the St. Kitts and Nevis Government throughout the application process, providing you with the fastest and smoothest experience possible.
St Kitts and Nevis citizenship by investment costs explained
Option 1: Contribution to the Sustainable Growth Fund (SGF)
- The cost for a single applicant is USD 150,000
- The cost for a family of up to four is USD 195,000
- Adding additional dependants costs USD 10,000 per dependant
These costs are all non-refundable, and there will be additional government processing fees and due diligence fees. Currently, due diligence fees for the SGF option are USD 7,500 for the main applicant, and USD 4,000 for each dependent of the main application over the age of 16. There is also a passport fee of USD 350 for each applicant.
Option 2: Purchase of Government-Approved Real Estate
If opting for the real estate route, applicants must purchase authorised real estate within St Kitts and Nevis. There are two bands:
- A USD 200,000 minimum investment (resalable after seven years)
- A USD 400,000 investment (resalable after five years )
Once again, there will be due diligence fees, along with additional government processing fees. Due diligence fees for the Real Estate option are currently USD 7,500 for the main applicant and
USD 4,000 for each dependent over the age of 16. The current government processing fees are USD 35,000 for the main applicant, USD 20,000 for the main applicant’s spouse, and USD 10,000 for any dependent of the main applicant.
Option 3: The Alternative Investment Option (AIO)
- The Public Good Project Developer (PGPD) minimum investment is USD 175,000, plus other fees as per the real estate option.
- The Private Enterprise Developer (PED) minimum investment is USD 200,000, plus standard real estate government fees.
Taxes system in St Kitts and Nevis for Investors
There are no direct personal taxes levied in Saint Kitts and Nevis, and no tax is raised on business income or investments originating in other countries. Yes, you read that correctly – there is no personal income, capital gains or net wealth tax.
Property tax is assessed on the market value of the real estate. It currently ranges from 0.2% to 0.3%, depending on the property’s location and use. Stamp duty is applied to the transfer of property and is currently in the 6% to 10% range.
VAT is 17% for most goods and services, although a reduced rate of 10% is applied in the tourism sector. As in many countries, certain goods are tax-exempt.
Corporate tax is the big one. Domestic companies in Saint Kitts and Nevis are subject to a 33% tax on their income, regardless of its source. Capital Gains are tax-exempt, unless assets are sold within the first year after acquisition. Dividends are subject to corporate income tax, and dividends and interest payments to non-residents are subject to a 15% withholding tax.
Documents required for St Kitts and Nevis citizenship by investment program
When making your application, you will need several documents, including the following:
- Certified copy of passport
- Certified copy of ID card
- Medical certificate
- Original or certified copy of birth certificate (if applicable)
- Original or Certified copy of marriage certificate (if applicable)
- Original police clearance certificate
- Statement of source of funds
- Photograph and signature certificate
- Six passport-size photos
- Affidavit of support for Dependents
- Certified copy of military records or exemption from military service (if applicable)
- Proof of home address
- Original bank reference letter (dated within the previous six months)
- Certified copy of proof of name change (if applicable)
- Original Professional Reference Letter (dated within the previous six months)
- Limited Power of Attorney
- Recent bank statement
- Certified copy of business license or incorporation documents (if applicable)
- Real estate sales and purchase agreement
- Proof of payment of non-refundable processing and due diligence fees
- Official transcripts of written confirmation from a recognized education centre (for dependents over 18)
Huriya Private will oversee the document submission process for you, ensuring that all the required papers are in order.
How strong is St Kitts and Nevis passport?
Altogether, Saint Kitts and Nevis passport holders can enter a total of 157 destinations – 126 without a visa, 29 through visa-on-arrival, and two via an electronic travel authorization (eTA). The passport has a long validity period of 10 years. It is a sophisticated and secure biometric passport that guarantees an advanced level of protection against data theft or impersonation.
How many countries can you visit with a St Kitts and Nevis passport?
As a citizen of Saint Kitts and Nevis, you will enjoy visa-free travel to 157 countries, with more constantly added to the list. This includes all countries in the European Schengen area, plus the UK and Switzerland, as well as many countries in the Americas, Asia and Africa.
St Kitts and Nevis passport ranking
The passport is consistently ranked highly. In 2022, the St. Kitts and Nevis passport was placed 27th on visaindex.com and 24th on passportindex.org. This allows easy travel worldwide.