Purchasing Property in St. Kitts and Nevis

There are many benefits of purchasing property in St. Kitts and Nevis. Both Caribbean islands offer excellent opportunities for purchasing a retirement home, holiday property, investment property or economic citizenship.

Foreign ownership of property is allowed in St. Kitts and Nevis. There are two ways of acquiring property: through holding an Alien Landholding Licence and through economic citizenship

 

Why is purchasing property on St. Kitts and Nevis so attractive?

With its amazing natural beauty, white sandy beaches, attractive landscape and laid back atmosphere as well as a vibrant culture and rich history St. Kitts and Nevis is a perfect location for an idyllic Caribbean stay. All this, combined with the economic citizenship program, stable government and economy make St. Kitts and Nevis extremely attractive for foreign owners.

 

Property Prices in St. Kitts and Nevis

Property in St. Kitts and Nevis has been resilient through the economic downturn, with prices supported by the citizenship by investment option. This creates an extraordinarily stable and resilient real estate market compared to other countries, making it a safe option in which to invest funds.

 

Property Purchase Costs

There are purchase costs involved when purchasing property in St. Kitts and Nevis.

  • Alien Landholding Licence – 10% of the purchase cost (certain exemptions apply)
  • Legal Fees – 1% - 2.5%
  • Land Assurance Fund – 0.5%

Total costs incurred by the buyer total around 11.5% – 13% of the property purchase price.

Stamp duty is payable, however this is paid by the seller.

 

Mortgages

Overseas investors mostly still pay cash for their purchases, however banks do offer financing to non-residents. The maximum loan to value is usually around 60%, with loan terms of 15 years. Mortgage interest rates are typically tied to the US prime rate or LIBOR.

Mortgage fees:

  • Administration Fee: 1% - 2.5%
  • Stamp Duty – 1% of Loan
  • Commitment Fee – 1%
  • Survey Fee

 

Benefits of purchasing property in St. Kitts and Nevis

  • Citizenship for life for approved applicant and eligible family members
  • Tax free status on foreign income, capital gains, gift, wealth and inheritance tax
  • The applicant is not required to reside in St Kitts or Nevis
  • Full residency status
  • The right to work in St Kitts and Nevis
  • Visa Free Travel to a number of countries including European Schengen Countries
  • Passports are issued to successful applicants and any eligible dependents
  • No requirement to relinquish existing citizenship or passport

 

Further Information

As Caribbean property and real estate specialists, Select Resorts Properties are proud to sell exclusive St. Kitts and Nevis luxury property opportunities – in a selection of hillside apartments, beach front apartments, poolside residences and individual villas in some of the best resorts on the island including Christophe Harbour.

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