Saint Kitts & Nevis, world’s first formal citizenship by investment program is one of the world’s most popular program approving more than thousand investors. Investor have two options from which they can choose according to their needs and objectives. Starting from USD 150,000 up to USD 175,000.
The twin island of St. Kitts and Nevis launched its own CIP scheme (citizenship by investment program) in 1984, since then, passports have been issued to more than 20,000 applicants. Only one year after gaining independence. It is codified in the St. Kitts and Nevis Citizenship Act. In addition to assisting you in determining the best investments for your financial situation, the professionals at Igmigration also assist clients with the acquisition of passports and other related documents while ensuring that all transactions are genuine and in compliance with local laws. Some real estate investments have 5-7 years payback times.
holders of Saint Kitts & Nevis passport can travel to 157 countries including the Schengen countries freely and can either obtain vise on arrival or online as well. Compared to other Caribbean passports, it offers more alternatives for travel.
it gives the benefit to the investor to acquire the citizenship without residing there.
It is legal for residents of St. Kitts and Nevis to register a business. Working with overseas partners is made easier for investors. For instance, payments can be made without concern for restrictions on foreign exchange. When a company is registered, no information about the beneficial owner is entered in the commercial register.
Residents of St. Kitts and Nevis are exempt from paying taxes on royalties, dividends, and interest. In this nation, there is no tax on salaries, capital gains, or inheritance.
There is no direct taxation in St. Kitts and Nevis. What this means is, even if citizens live on the islands, they are not subjected to personal income tax, estate duty, inheritance or succession taxes, gift taxes, or net worth tax. However, some tax does apply to certain applicants.
Key tax considerations include:
A corporate income tax of 35% of net profits. On the plus side, the nation offers relevant companies a tax holiday on corporate profits for up to 15 years. Nevis specifically does not levy tax on companies and foundations as long as no business is conducted on the island.
There is a 10% withholding tax payable by both individuals and companies that remit payments to individuals outside of St. Kitts and Nevis.
An annual property tax in St. Kitts and Nevis applies. This is minimal and calculated on the market value of the property. The current rate of VAT in St. Kitts and Nevis is 17%.
Donations are made to the Sustainable Growth Fund by investors. The money from the fund is used by the St. Kitts and Nevis government for things like healthcare, education, tourism, culture, and renewable energy. The donation has no cash value and is non-refundable.
| Investor | Married Couple | Family of 4 excluding siblings | Family of 5 or more people | |
|---|---|---|---|---|
| Contribution to the Fund | $150,000 | $175,000 | $195,000 | $195,000 + $10,000 for a child or parent starting the fifth family member + $20,000 for a sibling |
| Due Diligence | $7,500 | $11,500 | $7,500 for the investor and $4000 per family member over 16 years old | $7,500 for the investor and $4000 per family member over 16 years old |
| Other Fees | $1,161 | $1,922 | $3,294+ | $4,005+ |
$175,000 – In St. Kitts and Nevis, a share of a social or infrastructure real estate project requires a minimum investment of $175,000.
$200,000 – A portion or entire property in a real estate project that has received government approval costs $200,000 or more. Apartments, villas, five-star hotels and resorts, as well as boat berths, are all included in the developments.
$400,000 – A villa that is not on the list of developments that have received government approval must cost at least $400,000.
A further government fee of at least $35,050 is imposed if the investor purchases the second or third type of property.
If the property was purchased for $200,000, it can be sold in 7 years; if it was purchased for more than $400,000, it can be sold in 5 years. Additionally, the investor receives 2 to 5 percent of the property’s annual rental revenue.
| Investor | Married Couple | Family of 3 or more | |
|---|---|---|---|
| Purchase of Real Estate | $200,000 | $200,000 | $200,000 |
| State Fee for the second and third property types | $35,050 | $35,050 | $35.050 for a investor $20.050 for a Spouse $10.050 for a Child or parent $40.050 for a Sibling |
| Due Diligence | $7,500 | $11,500 | $7,500 for the investor and $4000 per family member over 16 years old |
| Other Fees | $1,161 | $1,922 | $3,294+ |
For your convenience, the following forms are referred to as:
Form C1: Application for Citizenship;
Form C2: Photograph and Signature Certificate;
Form C3: Medical Certificate with the original HIV test results (HIV test is required for all persons applying for citizenship including children over 12 years). Note: The results of the HIV test cannot be more than three months old.
Forms of Sustainable Growth Fund
Escrow/Investment Confirmation Agreement (Form C4)
Forms for real estate
A fully executed Purchase and Sales Agreement (Approved Real Estate Investment Option)
Documents that must be submitted:
Forms C1, C2, AND C3 completed
A certified copy of the birth certificate or the original extract from the complete birth record.
Certified copy of the name-change documentation (Deed Polls or jurisdictional equivalent, if applicable)
A certified copy of the most recent national identification card (children under the age of 16 are exempted)
Certified copies of any current passports that include the holder’s name, photo, citizenship or nationality, date and location of issue, passport number, and nation of issuance.
HIV test results must be more than three months old (children under the age of 12 are exempted)
Police clearance certificate or “certificate of no criminal record” from your place of citizenship and any other nation you have been in for more than a year over the previous ten years (children under the age of 16 are exempted)
6 recent 35 x 45mm images, taken within the last six (6) months (N.B. one of the photographs must be certified and attached to the C2 form)
Additional information required from the principal applicant includes:
At least one authentic professional reference that is no more than six months old, such as one from an official accountant, lawyer, notary public, or other professional of comparable standing.
Bank statements going back a year from the application filing date
At least one original bank reference letter that is no more than six months old and was written by a bank with worldwide recognition.
Exemption from military service or a certified copy of military records (if applicable)
1 original document serving as proof of residence (e.g. certified copy of a recent utility bill or bank statement showing full name and address)
Job letter(s) detailing employment history, title held, and compensation received • Certified copy of business license or incorporation documentation
1 original excerpt from the marriage record or, if appropriate, 1 certified copy of the marriage certificate(s) (i.e. if married persons apply together).
Certified copies of the divorce papers (if applicable).
A declaration and proof of the source of the money to be invested in St. Kitts and Nevis
Financial Support Affidavit for Applicants Between the Ages of 18 and 30
Certified copies of academic credentials (if applicable)
Limitation of Power of Attorney