Affordable citizenship of St. Kitts and Nevis through investment in the federation's socially important assets
St. Kitts citizenship, which opens up new opportunities for travel, business, study, life and recreation, is now available through investment in a new option. Funding for social projects is of particular importance to the country. Through the passport program, the Government intends to implement a plan to build a federal prison. For this purpose, the CBI has developed an option under the CBI to raise foreign capital for targeted utilization.
The importance of such a direction for the country has contributed to the approval of favorable conditions for potential investors.
The price of participation in the passport program for a family of 4 persons without taking into account the Due Diligence check is 175 000 $, additionally for each next participant - 10 000 $.
Why citizenship of the Federation of St. Kitts and Nevis attracts investors from around the world
The Eastern Caribbean nation is a sovereign member of the Commonwealth of Nations, which is headed by the monarch of the United Kingdom of Great Britain. It is the country's membership in some of the largest and most significant international organizations that allows the government to provide its citizens with a wide range of rights and opportunities that transcend national boundaries.
St. Kitts is one of the major tax havens of our planet. The offshore zone offers tax planning and asset management services, company registration, etc. It is important that St. Kitts and Nevis does not plan to join the white list of the Organization for Economic Cooperation and Development (OECD) until 2025, as many other countries in offshore jurisdictions.
The Citizenship by Investment Program was approved in 1984. During its existence, it has earned the reputation as one of the most reliable and transparent in the world.
Candidates must meet the following requirements:
- No criminal record;
- good health;
- ability to invest the required amount of money under the terms of the program.
If all of the above are met, federal citizenship status is granted in 90-120 days from the date of application.
No European passport gives the same rights as the St. Kitts and Nevis passport:
- Visa-free travel with 156 countries (including the entire Schengen Area and the United Kingdom of Great Britain );
- Free entry to the UK for 180 days at a time and 90 days per semester to Schengen countries;
- Availability to open European bank accounts and conduct international business;
- Ease of obtaining US and Canadian long-term visas;
- No taxes on worldwide income, wealth and inheritance;
- Plenty of direct flights to St. Kitts from Miami, New York, Washington, DC;
- Elementary obtaining EU residence permit as a financially independent person.
For more detailed instructions on the conditions of the program, please contact the specialists of the international company GARANT.in.
CBI to be 'main driver' of St. Kitts GDP in 2020: news in the world of investment migration this week
At the start of the pandemic, we asked whether the crisis would ultimately hurt or spur the investment migration market. That question, judging by the amount of publicity the industry has received over the past few months and the jokes service providers have been sharing with the international media, appears to have been definitively resolved in the industry's favor. This further supports the argument that investment immigration retains its status as a reliable and stable business.
The number of applications is growing daily
Typically, companies providing investment migration services, including Garant.in, receive up to 10 applications per day. However, since the beginning of May, the number has increased to 200 per day. An unusually huge number of applications are coming from Canadians interested in the Rural Program.
The bottom line is that all clients, if they applied today, would have to wait four or five months to six months for citizenship. The problem is not the waiting lists, but the COVID pandemic that has our clients looking for additional options. We have seen a significant spike in interest, with a 40% increase in customer interactions between January and April.
And in July, as many regional hotels began reopening their doors subject to restrictions due to uncertain circumstances, Secret Bay Hotel in Dominica was named the No. 1 resort hotel in the Caribbean, Bermuda and Bahamas in Travel + Leisure World's Best Awards. It's a success that hotel owner Gregor Nassif attributes to the Green Globe Certified hotel's unwavering commitment to responsible luxury and sustainability.
Alternative Citizenship Insurance Policy
In the current situation, people really want an alternative citizenship insurance policy that gives them a Plan B.
They are also concerned about health care and pandemic preparedness because, of course, this may not be the only pandemic in our lifetime. Wealthy people don't plan five to ten years out - they plan more than 100 years ahead in terms of wealth and well-being.
The talk so far is that smaller countries have an easier time dealing with and managing a pandemic. Just like in the United States, it's just getting out of control. But smaller countries have not been hit as hard. For example, Caribbean countries like Dominica, Antigua and Barbuda, or St. Kitts have very few cases of Covid.
Many experts advocate linking medical data to passports - this would help control the spread of the disease, could flag immunization status, allow real-time tracking of Covid-19 and allow for immediate restrictions. This could end the use of paper passports, but use technology to provide a solution for governments that need to resume international travel and business.
Envisioning a world of digital verification, health data verification and fraud prevention when it comes to travel documents is no longer solely the realm of science fiction.
Recall the Portuguese government's quick response to the crisis and relatively few cases as reasons for its popularity.
While many people obtain a second citizenship for visa-free travel or to diversify their investments, an increasing number want to obtain a residence permit. This gives people the opportunity to move if they need too.
CBI will be the main driver for the second half of 2020
Statistics tell us that usually the revenue from rich foreigners shelling out hundreds of thousands of dollars for a second passport accounts for 30% of the GDP deficit in the state budget. This year it could be a lot more.
Now that tourism has ground to a halt we expect the CBI program to be a major driver in the next six months.
Since the start of the pandemic, there has been a noticeable increase in interest from U.S. citizens exploring second citizenship options. Recently, there has been an increase in the number of applicants applying, especially because they have lowered the price for a family of four and many citizenship programs have made changes to their programs that are more favorable to applicants. The amount has been lowered to $150,000 from nearly $200,000 in July 2020.
One of the first steps in obtaining a passport through the citizenship through investment program in the Caribbean is to prove that you have the capital for that investment. Candidates will also have to pass a thorough background check.
