Second citizenship programs for large investors became common not so long ago. Many investors have had time to evaluate the advantages of St. Kitts citizenship and are looking for lucrative options. However, there is the oldest program that allows them to:
- travel to more than 100 countries without a visa;
- use quality medical care;
- receive an education at the best educational institutions in the world.
If you still don’t know what that means, you should definitely check out the St. Kitts and Nevis citizenship. It is one of the first countries to offer citizenship for investment. It is worth paying attention to this offer due to the many Saint Kitts passport benefits available.
№ 1: Travel to European Union and Schengen countries
Citizenship in the Caribbean is one of the most coveted. Why? Citizens of the state travel to visa-free countries for St. Kitts passport holders and avoid the red tape of paperwork (visas, permits). For this reason, the St. Kitts offer is really beneficial for those who develop a business and travel to solve work tasks.
№ 2: Advantageous conditions for obtaining citizenship
Are you planning to move with your family to St. Kitts? The investment program will allow you to do so at an affordable price. The size of the investment depends directly on the number of family members, but it’s still an option that will be appreciated by many investors in search of a second citizenship program.
№ 3: Speed of citizenship processing
Foreigners’ applications for a passport are processed in a short period of time. This period is usually 45 to 60 days. None of the other available programs allows to make a passport as quickly and without problems. According to the expert opinion of Svetlana Gorchakova (company Immigrant Invest), a personal consultation with a lawyer will help to achieve the result.
№ 4: Special tax system
Most countries keep information quiet about the amount of taxes on profits, but not St. Kitts. Entrepreneurs are attracted by the lack of red tape on inheritance, income tax, additional capital duties, and dividends. As for real estate ownership, investors don’t have to pay too much into state coffers.
№ 5: Preservation of personal data
While hackers hunt for sensitive data, the Caribbean Island country carefully protects the rights of its citizens. Participation in the program, information about property and income levels will not fall into the wrong hands. The individual’s right to keep confidential data is strictly respected here.
№ 6: No residency requirements
If you have obtained a second St. Kitts citizenship, you do not have to spend all your time in St. Kitts. Of course, there are many St Kitts and nevis citizenship benefits to being in the island state, but you are not required to reside in the islands permanently. Such terms are not provided by the legal system at all.
The time of residence does not play an important role, but it is still worth taking care to have your own property. The address will be used to receive letters from the authorities of the country and confirm your legal stay in the territory. Since you can’t do without buying a property, try to choose a good deal with the possibility of resale in the future.
№ 7: Minimum requirements for participation in the program
The presence of certain conditions for obtaining citizenship is not to be denied, but there are still no rigid restrictions. An investor who submits an application for participation in the program must meet several requirements:
- Age. Persons who apply for a passport must be of legal age (18 years old). If your children are minors, nothing will prevent them from becoming a citizen of St. Kitts.
- Verification. Applicants pass a comprehensive check on certain criteria. If no violations were found, the path to the country is open. Those family members who are at least 16 years old will also have to go through the procedure.
- No criminal record. The state will check for open criminal cases where the name of the investor is listed. If the applicant is legally clean, there is no problem.
- Immigration violations. The presence of cases of deportation from any country can be a reason to deny a second citizenship.
- Health condition. Medical examination should confirm that each of the potential citizens is not contaminated with infections. In this way, the country takes care of residents who have already received a passport.
The size of the investment depends on several factors (e.g., number of family members), but the sum is clearly available to the potential applicant for citizenship and there are St Kitts and Nevis citizenship benefits.
№ 8: Easy passport obtaining
The application is processed online, and once the request is approved, there is no need to go to the country to pick up the passport. The state will mail the documents to the address specified by the applicant. The passport of an adult citizen is valid for 10 years, and for a child – 5 years. In this case, you don’t have to visit the consulate either.
№ 9: Opportunities for development of tourism business
Buying real estate in the country will cost from 200 thousand dollars. Is St Kitts passport worth it? It can be considered an investment within the country’s passport program. However, there are other pros to buy an apartment in the state:
- Renting. The eternal summer in the Caribbean islands attracts tourists, so you can easily find a tenant and obtain additional income. Moreover, there are several ports in the country, which will allow you to find a suitable candidate for a rental agreement.
- Tourism business. Most real estate is used to accommodate tourists who come to the country all year round. You have the opportunity not only to develop existing activities, but also to start a new one in the world of tourism.
- Re-sale. If you need to sell the property, the cost increases by 10%. It is not a bad profit for a person who wants to get new opportunities for the development and scaling of the business.
In this way, the initial investment will pay off, and the profitability of St Kitts and Nevis citizenship by investment benefits will not be reduced.
№ 10: Offshore benefits
St. Kitts offers to obtain tax residency, although the procedure is not as simple as you would like. First, you have to confirm that you pay taxes in your new country of residence. The minimum step to get the desired result become to obtain a TIN with advantages of St. Kitts citizenship.
There are a few simple but important steps you can follow to persuade a foreign government that you qualify for an income tax waiver:
- get a TIN;
- buying real estate in the region;
- having a local mailing address;
- using a local driver’s license;
- buying a local SIM card.
These actions will create as many connections to St. Kitts as possible and can be used as evidence during the free application process. It is not enough to have residency alone, so you should not neglect other recommendations. Achieving a result depends on the qualifications of your lawyer who will represent your interests and consult you on various issues.