How to Obtain St. Kitts and Nevis Citizenship Through a Real Estate Investment
Situated in the tranquil Caribbean Sea, the small twin island nation of St. Kitts and Nevis has emerged as the one of the top vacation destinations in the past decade. Peppered with premium golf resorts, luxurious villas, condominiums, and vacation houses, the country is well equipped to host the hundreds of thousands of visitors the islands receive every year due to its exquisite beaches, blue skies, warm climate, and upscale shopping boutiques.
On account of all the attractions St. Kitts and Nevis has to offer, it is truly no surprise that along with the millions of tourists who come the country, foreign investors are also relocating to St. Kitts and Nevis by the thousands as sophisticated investors are eager to take advantage of the nation’s business-friendly atmosphere and laws, its tax breaks and benefits, and its unrivaled opportunities for real estate investment and development.
The small island has become a large player in international investment as the country has poised itself to attract foreign investors by the thousands by offering the world’s oldest and most well established citizenship by investment program. Under the program, foreign investors infuse capital into the country and the country in turn grants citizenship and a passport to the investor and family.
The country has many options for interested investors and this pamphlet discusses the requirements and procedures for one of the options, specifically the real estate investment project (the other options are discussed in detail in other pamphlets).
St. Kitts and Nevis’s Real Estate Investment Projects
St. Kitts and Nevis has designated a number of real estate projects as “qualified projects” for the purposes of the citizenship by investment program, and a foreign national may invest a minimum of $400,000USD into one of the projects. The country’s two most popular projects are the Park Hyatt St. Kitts Hotel and the Kittitian Hill Village Suites.
The Park Hyatt St. Kitts Hotel
Located in Banana Bay on a secluded beach, the Park Hyatt offers a majestic view of the Nevis Island and clear blue waters and skies. The Park Hyatt is part of a multi-billion dollar ultra-luxury hotel project that will include luxury accommodations, a super yacht marine, a world-class golf course, five star restaurants, villas, and shopping boutiques. By investing into this project, the foreign national will gain shares in this five star hotel.
One of the benefits of choosing this option is that investors will be eligible for the world recognized Hyatt Gold Passport Club which entitles members to suite upgrades, welcome amenities, complimentary internet access in accommodations, and access to the exclusive Diamond line reservation systems, Regency Club, and Grand Club lounges.
Given the reputation of the Hyatt brand, investing in this hotel offers an increased level of security that comes with investing into an international developer. Moreover, the hotel’s management company projects that foreign nationals will enjoy an annual income yield from the outset of the investment. Specifically, the hotel estimates that based on its income and capital gain projections of 4.5% pa, the foreign national can expect to receive an amount equal to the capital invested following the end of the mandatory five years holding period.
Kittitian Hill Village Suites
In addition to the Park Hyatt, St. Kitts and Nevis also has the Kittitian Hill Village Suites projects to prospective investors. The Village Suites are single title condominiums that are located in the beautiful Kittitian Hill area and that have been carefully constructed so as to offer a range of beautiful sea or mountain views. Along with the luxury condominiums, the Village Suites community will also have a cinema, amphitheatre, golf course, tennis courts, resort-style pool, bars, restaurants, and boutique shopping.
The Village Suites offer three types of floor plans: the Mansion which is a detached building of single two-bedroom apartments; the Fig tree which is a detached building of single two-bedroom apartment; and the Lodge which is a detached building of two one-bedroom apartments. (There are only 52 unites for sale so interested investors are advised to begin the investing process as soon as possible.)
One of the benefits of choosing the Village Suites is the projected rate of return. The management company projects that investors may earn a guaranteed fixed annual return of 4% of the purchase price.
The Real Estate Investment Application
There are two main parts composing the real estate investment application. The first part of the application is information about the investment, which project the investor chose, and proof that the funds have been committed to the specific project’s escrow account. The second part consists of a very extensive background and due diligence check of the investor’s criminal and immigration history. As part of the background check, the St. Kitts and Nevis immigration authorities may require the investor to come to the country for an interview.
However, even in light of the thorough background and due diligence checks and the possibility of an interview, the St. Kitts and Nevis immigration law requires applications to be approved, denied, or further processed within ninety days, which is one of the shortest processing times for investment-based citizenship programs in the world.
Once the investor’s application is approved, the investor and family will be issued the St. Kitts and Nevis passports (in the unfortunate event that the immigration authorities deny the application, the investment shall be returned to the foreign national within ten days).
Why Should Investors Choose St. Kitts and Nevis?
Obtaining St. Kitts and Nevis citizenship is advantageous to investors for several reasons. First, St. Kitts and Nevis passport holders are eligible to travel visa-free to more than 120 countries including Aruba, Germany, Greece, Hong Kong, Bermuda, Spain, Switzerland, Singapore, and Turks and Caicos. Second, St, Kitts and Nevis citizens do not pay income taxes on their income earned, gifts, wealth, capital gains, and inheritances. Third, the country does not require its new citizens to renounce their former nationality so foreign investors can enjoy the benefits of dual citizenship without issue from the St. Kitts and Nevis government.
Given these significant financial and personal benefits, it comes as no surprise that every year foreign investors from USA, Canada, China, the United Arab Emirates especially Dubai, Russia, Jordan, Yemen, Singapore, Taiwan, Germany, Egypt, South Africa, Saudi Arabia, Australia, Ethiopia, Ukraine, France, Kuwait, Vietnam, India, Nigeria, and Lebanon choose St. Kitts and Nevis as their foreign investment destination of choice.