St Kits & Nevis: An exciting prospect for investors looking to obtain a second citizenship

A two-island nation in the Caribbean Sea, St. Kitts and Nevis is in an idyllic location with a climate to match, explaining the popularity of the country for tourism, and increasingly relocation as well. On our blog we have touched upon numerous citizenships that can be obtained through investment, including the programme on offer in St. Kitts and Nevis, and in this article, we will endeavour to provide more detail on this specific scheme and hopefully help you decide if it is for you!

It is a good idea to first understand what citizenship by investment is. Put simply, it is a programme where anyone with the required capital assets is able to make a donation to a government fund or an investment in another asset within the borders of the country in question, and in return, will receive either a residency or passport depending on where the investor is looking to relocate.

So, if you find this structure for investment appealing, below we will outline the programme pertaining to St. Kitts and Nevis with a step-by-step guide to second citizenship.

There are two types of investment that can be made, either:

1. USD$150,000 to the Sustainable Growth Fund of the islands, which is usually USD$195,000 for a family of four however due to COVID-19, the cost is reduced by USD$45,000 so that for a family, the price is the same as for a single applicant

2. USD$200,000 each in real estate as a share only between two applicants which will be held for seven years before being sold, or USD$400,000 in real estate with the full title and can be resold after five years

For both options there are also necessary extra charges, including due diligence fees which are USD$7,500 for the predominant applicant and USD$4,000 for any others. For the real estate option, there is also a government fee of USD$35,000 for the main applicant and USD$20,000 for a spouse.

Now we have covered the general costs incurred in this process, we can move onto the steps:

1. Prepare documents

When undertaking this step, there are no documents that are difficult to find and or make copies of, making this stage relatively quick

2. Submit the application

Your application must be submitted via a local agent, and then the Citizenship-by-Investment Unit (CIU) processes the application and oversees it up to pre-approval

3. Complete investment

Once you receive approval, the investment must be made, whichever investment pathway you have chosen to follow

4. Receive passport

The prime minister signs the registration certificate, and you will be granted citizenship, upon receipt of this certificate you can apply to receive your St. Kitts and Nevis passport

With only four main steps, the process as a whole is not too extensive, making it more appealing. The total time estimated between submitting the application and receiving the passport is around four months, which, in conjunction with no visit required to the islands, although you may well want to as a matter of personal preference, it is possible to complete all of this from home.

However, if you are hoping for as rapid a process as possible, it is possible to pay more to receive a faster application screening process which reduces the approval window to 45-60 days, so, at most, only two months, ensuring the entire duration remains as close to the estimated time as possible, allowing you to get your passport as soon as possible!

So, if you are looking to set the wheels in motion to receive citizenship in St. Kitts and Nevis, please get in touch with us today! At Creimerman, our team works for clients across the globe, assisting with cross-border ventures in order to make their personal and business moves a success, and we would love to be by your side every step of the way on your citizenship by investment journey.