St Kitts and Nevis citizenship by investment: all about the CBI program and the country

1. Freedom to travel. St Kitts and Nevis citizens can travel to over 150 countries without visa. They can spend:

• up to 90 days out of 180 in the Schengen countries;

• up to 180 days a year in the UK;

• up to 30 days a year in Malaysia;

• up to 30 days a year in Singapore.

2. Travel to the United States. The B‑1/B‑2 visa allows holders to visit the United States for tourism, medical treatment or business for up to 6 months a year.

St Kitts and Nevis citizens are issued a visa for 10 years.

St Kitts and Nevis citizens face fewer difficulties in getting a US visa compared to passport holders from many other countries: they can choose to apply for a US visa at the American consulate in any of the 150+ countries that they can enter without a visa. The B‑1/B‑2 visa is normally issued within a few days.

Arsen, 38 years old

Businessman from Yerevan

St Kitts and Nevis citizenship for travelling

Arsen and Lusine began thinking about obtaining second citizenship when they started to experience problems with getting visas to Europe.

It was easier for Arsen because he travelled often, and the countries like France and Italy issued him a visa for 5 years. However, his family usually got short-term visas.

Arsen made up his mind to solve this problem. More and more friends and acquaintances shared with him the benefits of second citizenship by investment.

Learn a case

3. Remote citizenship process. The country’s law does not require an investor to reside in St Kitts and Nevis at the time of application or after obtaining citizenship.

Investors can apply for a passport without visiting the islands. A program’s agent accepts documents from the investor, and after approval of the application, they send the passport and certificate of naturalisation to the applicant. It is especially convenient if borders are closed.

The only time applicants need to visit St Kitts and Nevis is to collect the Certificate of Registration. This needs to be done in person, either in the country or at an approved embassy or consulate.

4. Low tax rates. St Kitts and Nevis tax residents do not pay taxes on gifts, inheritance, capital gains or dividends.

Businessmen holding St Kitts and Nevis passports can register international companies in the country. They do not pay withholding tax on dividends, interest or royalties, and social security contributions for employees are just 6%.

5. Transfer of St Kitts and Nevis citizenship by inheritance. St Kitts and Nevis is one of the few countries that allows citizenship by investment to be transferred by inheritance. Thus, the investor’s children under the age of 18 can become citizens by submitting an appropriate registration application.

6. Benefits for Commonwealth Citizens. St Kitts and Nevis is a member of the Commonwealth of Nations.

There are a number of benefits for citizens of Commonwealth countries: visa-free entry to member states, assistance and protection of the embassies of the participating countries, and scholarships for studying at British universities.

7. Second home in a peaceful country. Citizens can visit St Kitts and Nevis anytime and stay there as long as they want. It may become useful to change scenery or in an emergency in the country of permanent residence.

St Kitts and Nevis is a peace-loving country with a good political and legal reputation. Its citizens can travel to over 150 countries visa-free, including the Schengen Area states, The UK, Singapore, Malaysia, and members of the Commonwealth of Nations.

The table below is grouped by region, containing the countries that St Kitts and Nevis passport holders can visit without a visa.

Requirements for investors. St Kitts and Nevis accepts applications from foreigners over 18 years of age. The applicant should have no criminal record and be able to prove that the money to be invested was earned legally.

Family members. The investor can include the following family members in the citizenship application:

• a spouse;

• children under 25, including the ones from previous marriages;

• parents over 55.

Children and parents with mental or physical disabilities can participate in the program at any age.

Children between 18 and 25 years old and parents must be completely financially dependent on the investor. The investor provides documents that confirm material support: checks, bank statements, and receipts for payment of tuition at the university.

Immigrant Invest’s lawyers draw up a notarised affidavit confirming their dependence.

Family members can join the citizenship program after the investor’s passport is issued. There is no time limit within which family members can join the program.

The cost of obtaining citizenship for a spouse is $35,000 and $10,000 per member for the rest of the family. The fee for joining a child under 3 years old is $7,500.

In order for the citizenship application to be approved, it is not enough to just make the required payment: the investor and each family member over 18 years old pass a Due Diligence check with a mandatory interview.

The St Kitts and Nevis CBI Unit verifies the authenticity of the documents, the absence of a criminal record and sanctions, as well as rejections of applications for other citizenship programs or residence permits. The government wants to make sure of the legality of the sources of the investor’s funds and their compliance with the law.

Why the St Kitts and Nevis citizenship program and the country's tax system are attractive for investors

The St Kitts and Nevis citizenship by investment program offers a choice of three investment options:

• $250,000+ — a non-refundable contribution to the Federal Consolidated Fund under the Sustainable Island State Contribution, SISC;

• $325,000+ — a real estate purchase;

• $250,000+ — a Public Good Investment Option.

The costs of St Kitts and Nevis citizenship include investments, administrative and government fees, fees for preparing documents, forwarding documents and notarising translations.

The option to invest in St Kitts and Nevis real estate is chosen by investors who want part of their investment to be returned. In the past few years, more than 50% of applicants of the CBI program have bought real estate.

Types of available properties. There are three types of real estate that an investor can purchase under the citizenship programs:

1. Shares in a government-approved real estate project, which usually is a five-star hotel or a resort. The minimum investment is $325,000.

2. Condominium units designated as an Approved Private Home. The minimum investment is $325,000.

3. Single-family private dwellings designated as an Approved Private Home. The minimum investment is $600,000.

Examples of properties in St Kitts and Nevis

St Kitts & Nevis, Frigate Bay

$325,000 — $4,000,000

Share in a villa and apartments in a luxury hotel complex

58 m² — 426 m²

1—3

1—4

St Kitts & Nevis, Basseterre

$350,000+

Fraction in five star hotel under management of Hyatt Group

St Kitts & Nevis, Basseterre

$440,000+

Share in a 5-star hotel managed by Hyatt

The minimum ownership period. Investors can sell the property in 7 years. In the meantime, the investor can earn an income of 2 to 5% per annum from leasing the property.

Fees for real estate investments. When buying real estate, applicants pay the following state fees:

• $25,000 for an investor;

• $15,000 for a spouse;

• $10,000 per dependant under 18;

• $15,000 per dependent over 18.

Applicants make investments exceeding $250,000 in initiatives recognised as Approved Public Benefit Projects. These usually are social and infrastructure endeavors.

Investors pay a state fee, which amount depends on the family member:

• $25,000 for the main applicant;

• $15,000 for the spouse;

• $10,000 per dependant under 18;

• $15,000 per dependant over 18.

Additionally, applicants pay fees for Due Diligence, certificates of naturalisation, and passports.

The total investment amount is:

• $285,661 for a single investor;

• $308,822 for a married couple;

• $326,983 for a family of 3 people.

The minimum contribution to the SCIC and Good Public Investment is $250,000. However, this does not necessarily make these options more profitable in comparison to purchasing real estate, for contribution to the SCIC is non-refundable.

Real estate investment starts at $325,000 and the minimum cost of a share does not depend on the number of participants. Moreover, the property can be rented and then sold at a profit a few years later.

St Kitts and Nevis exchanges information with other states according to the international system of common reporting standards, CRS. Investors with a St Kitts and Nevis second citizenship do not need to pay taxes in both their countries of citizenship.

An investor becomes a tax resident by living in St Kitts and Nevis for at least six months of the year. Tax residents do not pay taxes on income, capital gains, inheritance, gifts, or dividends.

Tax rates for individuals include:

• 0% on income earned outside St Kitts and Nevis;

• up to 0,3% on real estate;

• 6 to 10% on the sale of real estate.

Corporate tax rates are also quite low for St Kitts and Nevis tax-resident organisations:

• up to 0,3% on real estate;

• 6 to 10% on the sale of real estate;

• 6% social contributions;

• 33% on global income.

St Kitts and Nevis does not disclose financial information about the beneficial owners of the business. The personal data of the owners is not disclosed when registering companies. The government will provide another state with such data only in urgent cases: for example, if a company is found to be involved in fraud or terrorism.

Registering a company. Most business in St Kitts and Nevis is conducted through companies registered in the form of an international business company, IBC. It is recognised by the jurisdictions of different countries and allows working with foreign partners.

Registering an IBC costs about $2,300 and takes less than two weeks. The total minimum annual cost of maintaining the company is $1,600.

Documents required for registering a company in St Kitts and Nevis:

1. Memorandum of Association.

2. Director’s appointment letter.

3. Certificate of registration of the St. Kitts and Nevis office.

4. Declaration that the owner of the company has reached the age of majority.

The credibility of the company is influenced by the political relations between states and the country’s reputation. Sometimes foreign partners prefer to work with a business registered in St Kitts and Nevis rather than in a politically or economically less stable country.

The two small islands of St Kitts and Nevis are located in the Caribbean, covering an area of 261 km² with a population of less than 50,000.

The locals speak English making it easy for foreigners to communicate and resolve issues that arise in everyday life. The local currency is the East Caribbean dollar — EC$ or XCD, although euros, US dollars and British pounds are also accepted.

Climate. Humid and hot, with winds constantly blowing from the southeast. It is sunny all year round and the average temperature remains +25…32°C. The period of intermittent rains lasts from May to November, and hurricanes occur from August to October.

Nature. Jagged mountains overgrown with tropical forests, coconut groves, sandy beaches with coral reefs, pink salt lakes and blooming orchids along the river banks abound in St Kitts and Nevis. There are several extinct volcanoes in the country. A lake has formed in the crater of the highest volcano, Llamiuga.

Sightseeing. In the village of Challengers, an ancient rock painting of the Caribbean Indians has been preserved. The country has monuments of architecture from the Victorian era. Brimstone Hill Fortress National Park is a UNESCO World Heritage Site.

Equestrian tournaments and a salsa and jazz music carnival are held annually in June in St Kitts. At the end of December, tourists arrive to take part in the most spectacular show, a carnival with colorful costumes and dances.

Transport. The country has two international airports: Robert Bradshaw is located in St Kitts and Vance Amory, on the island of Nevis.

Each island has modern ports that accept the largest cruise ships.

Public transport: minibuses, taxis and ferries. Travelling in a minibus costs $3 per 10 miles and in a taxi, $1 per mile. Ferries transport people and cars between the islands in 45 minutes. The fare is $25.

A narrow-gauge railway runs along the perimeter of the island of St Kitts, along which excursions are carried out in double-decker carriages. They last for four hours. The well-informed guides point out the sights of interest on the island and answer any questions that are raised.

Yachting. Christophe Harbor is home to the largest and most modern port in the Caribbean. There are berths for 300 ships and 60 berths for large yachts.

There is a customs office in Christophe Harbor. All amenities are equipped for yachtsmen: showers, cafes, shops, and beaches. The prices for goods do not include duties. Spare parts and fuel for yachts are cheaper here than in European ports.

Only St Kitts and Nevis citizens can register a yacht under the country’s flag. The yacht is registered in one day, while the owners remain anonymous.

1. St Kitts and Nevis citizenship allows investors to travel visa-free to over 15 countries, including the Schengen Area states, the UK, and Singapore. Investors are also eligible for a B‑1/B‑2 visa to the USA for 10 years.

2. To obtain St Kitts and Nevis citizenship, foreigners choose one of the three investment options: a non-refundable contribution, a real estate purchase, and a Public Benefit Option. The investment threshold is $250,000.

3. Investor’s family members can also participate in the St Kitts and Nevis CBI program. Citizenship is granted to a spouse, children under 25, and parents over 55.