The citizenship by investment program in St Kitts
09 May 2011
The Federation of St Christopher and Nevis enables overseas buyers to gain citizenship through a government-sponsored investment program. The program, which has been running since 1984, is the best established economic citizenship program in the world. It's extremely well regulated, and as such has international acceptance and approval.
One of the main reasons most investors would be interested in this program is because of the generous tax breaks offered to citizens; citizens have tax-free status on all income, gifts, wealth, inheritance and capital gains. Dual citizenship is permitted, so second passports can be issued and there is no need to notify your home country.
The program is often of special interest to those outside the European Union, because it enables visa free travel to around 60 countries around the world, including those within the Schengen zone and European Union.
St Kitts and Nevis belong to the United Nations as well as the Organisation of the Americas, the World Trade Organisation, the Eastern Caribbean Economic Union, the Caribbean Community and the Organisation of Eastern Caribbean States. The country has a stable democracy and much of its law is based on English law.
Anyone interested in obtaining citizenship by investment has to purchase a St Kitts property for sale in an approved development on either St Kitts or Nevis for a minimum amount of US$350,000. At the moment there are more than 30 approved developments, and the applicant also has to agree not to sell the property within five years. Once applications are submitted, approval can take between six weeks and three months.