St Kitts and Nevis citizenship by real estate investment: how to get a passport and enjoy its benefits

The dual island of St Kitts and Nevis has once borne the aboriginal name Oualie, “Land of beautiful waters”. The eastern Caribbean sea surrounding it is as azure as ever, and the membership in the British Commonwealth offers a wealth of opportunities.

St Kitts and Nevis naturalisation provides:

• Dual citizenship for investors and their families;

• The right to work and settle in CARICOM countries;

• Visa-free entry to 156 countries, including the Schengen Area. In fact, St Kitts citizenship works as an alternative to the European Union one;

• 10-year visas to the US and Canada;

• The right to receive a British Commonwealth scholarship, including the UK;

• The foreigner-friendly investment climate and fair and lenient tax system. There is no personal income, wealth, capital gain, or inheritance tax in St Kitts and Nevis.

Investors and their spouses of the opposite sex must fulfill minimal requirements: be over 18 years old with no criminal record. Investors must also prove a legally obtained steady income and have no serious medical conditions.

What’s expected of St Kitts and Nevis passport holder

The dependents must be fully financially dependent on the investor or their spouse: children and siblings must be under 25 years of age, and parents — over 55. Children also must have proof of attendance at an accredited educational institution, and siblings must not have kids.

Investment options under the St Kitts and Nevis citizenship program:

1. A contribution to the Sustainable Development Fund. The required amount of at least $125,000 (until 31 January, 2024) is non-refundable, and an investor can’t generate income from it.

2. An investment in property on St Kitts and Nevis of at least $175,000. An investor chooses from three property types: social projects, government-approved projects, or private homes. The latter option only stands until November 1, 2022.

Property ownership types. The program supports joint and full ownership of a property. With joint ownership, investors buy a share in government-approved or alternative real estate projects. In that case, they will share ownership with another or several parties. With full ownership, investors purchase the entirety of government-approved or private property.

Right after acquiring the ownership, investors can rent certain types of property out and make a profit.

Maintenance of real estate. When purchasing real estate under the Citizenship by Investment Program, you’re obligated to keep it for the next 7 years without reselling. As mentioned, citizens aren’t required to reside on the island. If you’re planning to be absent, the approach will depend on your property:

• for government-approved project property — maintenance will be free;

• for residential property — consider hiring a local-based property maintenance firm. They will represent you as the property’s owner on Saint Kitts and Nevis and manage necessary tasks: from doing land work to collecting rent.

Annual property taxes in the country consist of land tax and building tax. The average rate range is 0,2%—0,3%, depending on the property type and which of the two islands it’s located on.

The real estate investment option for obtaining Kittitian citizenship has numerous benefits for investors, as listed below.

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

Remote application and purchase. Investors don’t have to arrive in the country to submit their papers for citizenship or buy the investment property.

No required residency. Investors are not obligated to visit the purchased property or spend time on the island.

No Alien Land Holder Licence. Unlike other foreigners who buy properties in St Kitts and Nevis, investors don’t have to pay a 10% fee for the right to carry out real estate transactions in St Kitts and Nevis.

Rental property is in demand in the country since tourism has been one of the main driving forces of the Kittitian economy. The tourism sector generated 10,8% of $1,045 billion pre-pandemic GDP, and now that the borders are re-opened, St Kitts and Nevis are regaining the $500 million inbound tourism income.

The tallest building in the country stands only 20 stories high, but the islands' elevation above sea level opens a panoramic view from almost every luxury real estate object. You can expect tenant interest all year round due to the islands' tropical climate, especially from December to May, when the tourist season is in full swing.

Subsequent resale with profit. The average real estate value in St Kitts increases by 4% yearly, which can make resales profitable for the investors. Depending on the option chosen, the property can be sold after 5 years of holding it. So, when reselling, the property’s price can be 20—30% higher than when buying.

When selling the property, capital gain tax is not levied. Yet, investors have to pay 6—10% of stamp duty.

Individual cost calculation for St Kitts and Nevis citizenship

Get the cost calculation

Plots of land for construction in residential clubs and resort communities start at $1,295,000 for full ownership. The territories will already be set up for building luxury villas, cottages, or other individual property types. The infrastructure around such plots of land guarantees strong tourism-oriented potential, which explains the price tag. Residential clubs and resorts come with private beaches, marinas, SPA complexes, and other members-only perks.

Yacht marinas are an integral part of the affluent community in St Kitts and Nevis. Investors who purchase this type of property are in for diverse year-round income streams thanks to the average year-to-year yacht passenger increase of 68,3%. High-end marinas come with docking areas for yachts, superyachts, cruise ships, and recreational areas on the shore. Full ownership is available at a minimum of $1,875,000.

Townhouses make the perfect type of property for enhanced island views. Unlike villas, townhouses have terraces, making this feature a great marketing point for rental advertising. The price starts at $1,750,000 for full ownership.

Villas and apartment complexes are considered residential property but make a solid source of rental income. Monthly rent can reach $30,000—$40,000. On St Kitts and Nevis, you can purchase a Western-style villa or choose one stylized as a traditional Caribbean bungalow. Prices on St Kitts start at $1,115,00 for a villa and $250,000 for a share in a multistorey turnkey apartment building.

Hotels and condominium hotels are the surest way to benefit from Kittitian’s tourism industry. As a 5-star hotel owner or shareholder, you will be looking at $550—$1200 per room during high season. Investing in a hotel or condo share costs a minimum of $250,000.

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

A flexible offer where you can choose between purchasing full residential property ownership or becoming a commercial shareholder.

The condo combines a luxurious hotel resort and residential apartments of multiple categories. Elite condominium resides at the very junction of Frigate Bay. The building is part of an 18-acre tropical resort and consists of residential property apartments and a garden. It is approved for the CBI program by the St Kitts and Nevis government.

Elena Kozyreva,

Managing Director for Real Estate projects

You don’t have to visit St Kitts and Nevis for house hunting. Immigrant Invest has a selection of verified properties that qualify for the citizenship program. You can set up remote viewings through our site.

Our real estate specialists will walk you through the entire process and assist you with possible reselling of the property after the 5 years ownership condition is fulfilled.

2—6 months lasts a procedure of getting St Kitts and Nevis citizenship. The procedure of getting a St Kitts and Nevis passport through real estate purchase consists of the following steps:

1. As investors are not allowed to apply for citizenship on their own, they need to contact and sign an agreement with a licensed agent like Immigrant Invest.

2. For a preliminary check, Immigrant Invest’s Anti-money Laundering officer inspects your submitted documents.

3. Application documents and forms are prepared under our lawyer’s supervision and translated into English.

4. Documents are submitted to the CBI Unit in St Kitts and Nevis.

5. Due Diligence screening is thoroughly run by the CIU and relevant agencies of St Kitts.

6. Real estate can be chosen while the investor’s application is pending. The investor chooses a commercial or residential property and reserves it with a 10%—15% deposit.

7. When the application is greenlit, the CIU notifies Immigrant Invest, and we inform the investor. The reserved real estate must be purchased within the next 90 days for investment fulfilment.

8. St Kitts and Nevis passports and certificates of naturalisation are issued to the investor and their family.

Besides the investment in real estate, participation in the program implies other expenses.

Additionally, every applicant pays $361 for the issuance of a passport fee and $50 for the issuance of a naturalisation certificate.