Saint Kitts and Nevis passport is considered to be the most prestigious in the Caribbean region. With modern geopolitical conditions in mind, the benefits of having the citizenship of Saint Kitts are revelatory for entrepreneurs and wealthy individuals from all around the world whose passports don’t hold much power or are restrictive. The second passport opens borders and grants the opportunity to obtain long-term visas to key world countries (the US, for instance).
St Kitts and Nevis passport has been available for purchase since 1984 through the oldest, most reliable and successful Citizenship by Investment Program within the Caribbean region. Let this sink in: out of the 55 thousand people populating the islands today, one-fifth - 11 thousand - have obtained citizenship by investing in the host economy.
First of all, there’s freedom of movement. Over 150 countries open their borders to St Kitts passport holders, hence, there is no need to waste time and money on visa-related paperwork.
Secondly, this passport is essentially a safety net, it allows the holder to relocate to any country with visa-free agreement in case of unforeseen circumstances.
What is more, all information on citizenship deals remains strictly confidential. Saint Kitts and Nevis authorities do not disseminate any details to third parties. This way, the primary country of residence does not learn of one’s newly acquired status as a citizen of another country.
In addition, Saint Kitts and Nevis, which is among the countries with lowest tax rates in the world, does a lot to facilitate tax planning and optimisation.
Finally, the passport of this Caribbean state makes it much easier to obtain a long-term visa to the US and other strategically important countries.
The economy and infrastructure of the entire Caribbean region were gravely, and in some locations irrevocably, damaged by the recent hurricanes Irma and Maria. In September 2017, the director general of the St Kitts and Nevis’ Citizenship By Investment Unit announced the establishment of the Hurricane Relief Fund. The money raised through the fund goes to rebuilding after the cyclones.
In order to accelerate the investment influx, the government of St Kitts and Nevis have made changes in their citizenship by investment program and reduced passport costs almost by half. Single applicants get a 40% discount, while a family of 4 gets 50% reduction - but there is a catch: the offer expires in March 2018.
The St Kitts and Nevis citizenship by investment program is commonly described as “the platinum standard,” and the recent cost reduction has already resulted in an increased number of applications. Will this interfere with the quality of the program? CBI Unit CEO has publicly debunked any such claims. He assured the general public and potential investors that the new price, being still higher than everywhere else in the Caribbean Basin, is competitive and maintains the excellency standard of a platinum brand.
Below are Saint Kitts’ passport cost calculations, and the overall cost structure.
The Federation of Saint Kitts and Nevis is not the only Caribbean Basin nation that offers to exchange its citizenship for foreign investments. Other countries with similar programs are Saint Lucia, Dominica, Antigua and Barbuda, and Grenada. The passport of the Republic of Vanuatu, a Pacific island nation, is also in demand. Most popular European citizenship by investment programs are those of Cyprus and Malta.
Common among all programs are the advantages of visa-free travel to the Schengen area and the EU countries, as well as dual citizenship recognition. Note that citizenship of St Kitts and Nevis offers the widest range of visa-free entries.
Are there any shortcomings? If we define them as differences from available European citizenship by investment programs, then you could see some (if you squint). In addition to entering the EU and UK, Maltese and Cypriot passport holders can stay there indefinitely, and Malta allows visa-free entry to the US.
The costs of various European citizenship by investment programs vary greatly compared to each other, and compared to Caribbean offers. For instance, a Maltese passport would cost a foreign investor €800,000, while Cyprus citizenship can be acquired for a property investment of €2m.
More than 11,000 wealthy individuals have already obtained their St Kitts and Nevis passports (a reminder that right at this moment it is possible to apply for the price of $150,000, and the cost will go up to $250,000 in March 2018).
Saint Kitts and Nevis holds top popularity spot among Caribbean citizenship by investment programs, but for Europe, Cyprus passport is the hottest thing today. About 2,274 people have already obtained their Cypriot passports in exchange for at least €2 million investment per application. Citizenship of this country is popular among Russians (616 applications were approved) and Chinese, according to Eurostat.
We are ready to assist our clients in obtaining their second citizenship safely and legally, and offer them customized investment options. Our consultations are free of charge.