Economic citizenship program

Established in 1984, The St Kitts and Nevis Economic Citizenship Program is one of the oldest, and the most respectable, citizenship by investment program in the world.

The Government of St. Kitts and Nevis allows investors the opportunity to obtain full citizenship by statute through its government sponsored investment program (the “Citizenship by Investment Programme”). This citizenship programme is internationally recognised, well regulated and legitimate. Regulations for the Citizenship by Investment Programme is fully supported by the Sovereign Government of St. Kitts and Nevis.

There are a number of benefits and advantages to the St. Kitts Citizenship by Investment Programme. The St. Kitts and Nevis Passport is very well regarded and only bearers of these passports enjoy the benefits of dual citizenship for secure banking purposes, asset protection, company management and guaranteed confidentiality. Additional advantages are listed below:

Advantages of St. Kitts and Nevis Dual Citizenship and Passport:

  • Dual citizenship – Citizens of St. Kitts and Nevis are entitled to hold dual citizenship. The acquisition of citizenship is not reported to other countries or to the country of origin of the individual.
  • No restriction through naturalisation – this is of particular interest to nationals of Canada, USA, UK, Russian Federation and former CIS countries and the UAE whom may be, for differing reasons, restricted from acquiring citizenship through nationalisation in any other country. St. Kitts and Nevis administration has no specific restrictions on any particular nationals to participate in the citizenship and passport programme. All applications are accepted on a common basis and are subject to standard due diligence and vetting procedures.
  • Choice of investment either by a non-refundable cash donation or by buying real estate that can be used as an investment, for renting or for personal use.
  • Visa free travel to more than 120 countries such as the UK, Switzerland, Canada, Hong Kong, Singapore, Malaysia and all EU Schengen countries
  • No obligation to reside in the country and no minimum stay is required
  • Choice if places to live – by having St. Kitts and Nevis citizenship doors can be opened to other options of obtaining a residency permit. There will be fewer formalities and certain privileges for staying or working in CARICOM member states.
  • Easier to obtain another residency programme – as the bearer of a St. Kitts and Nevis Passport there is an increased chance of obtaining the Investors Visa in the UK or residence permit in a European country such as Switzerland or Germany.
  • Tax free status on foreign income, capital gains, gifts, wealth and inheritance tax.
  • Lifetime citizenship is granted
  • Second passport – Easy to obtain a second passport and citizenship for family members
  • Legal programme by status – the Citizenship by Investment Programme is a legal programme based on the statute. The granted citizenship will not be revoked regardless of the changes in government policy. This can provide a high degree of personal confidence in turbulent times.

Minimum Investment:

As of January 2012 the Government of St. Kitts and Nevis has agreed new investment amounts. There are two options in order to qualify for citizenship by investment; by making a donation to the Sugar Industry Diversification Foundation (SIDF) or the Real Estate Investment option.

Real Estate Option:

The minimum investment required for the real estate option is currently 400,000 USD or the equivalent in dollars of the Eastern Caribbean Central Bank (XCD) in an approved real estate project. Only villas or condominium units from an approved developer will qualify for citizenship.

Two or more applicants may apply for citizenship through joint investment by purchasing real estate provided that each applicant contributes the minimum investment of 400,000 USD towards the investment.

In addition to the investment required the following processing and due diligence fees are payable to the government of St. Kitts and Nevis:

Government & Due Diligence Fees:

Applicant:Government Fees:Due Diligence Fees:
Main Applicant USD 50,000.00 USD 7,500.00
Spouse USD 25,000.00 USD 4,000.00
Child below 18 years of age* USD 25,000.00 USD 4,000.00 for applicants above the age of 16
Dependent above 18 years of age USD 50,000.00 USD 4,000.00

Please note that all legal fees for the purchase, registration and tax of the property are the responsibility of the applicant.

Sugar Industry Diversification Foundation (SIDF) Contribution:

The Sugar Industry Diversification Foundation (SIDF) option offers four distinct categories for application:

CategoryNon Refundable Contribution:
Single Applicant USD 250,000
(two hundred and fifty thousand USD)
Applicant with up to three dependents
(i.e. one spouse and two children below the age of 18)
USD 300,000
(three hundred thousand USD)
Applicant with up to five dependents USD 350,000
(three hundred and fifty thousand USD)
Applicant with up to seven dependents USD 450,000
(four hundred and fifty thousand USD)
  • Additional contribution for each dependent above seven dependents – USD 50,000.00
  • Additional contribution for each qualified dependent (unmarried, dependent children of, parents) of the main applicant above the age of 18 years old – USD 50,000.00

The contribution into the SIDF escrow account must be made after the application has been approved in principle. Applicants will be given 90 days in which to transfer the funds.

Due Diligence Fees:

  • Fees for main applicant – USD 7,500.00
  • Fees for each dependent above the age of 16 – USD 4,000.00

How to Proceed:

Upon the payment of a non-refundable retainer fee a complete set of forms will be sent to be completed in addition to detailed explanations regarding the documents required. Eltoma Corporate Services will provide support throughout the application process making this as simple and straightforward as possible. Your issued documents (Certificate of Citizenship and associated passport) can be delivered by courier or collected at our representative chambers in Basseterre, St. Kitts.

For further information on the programme or to arrange a consultation please do not hesitate to contact us. We can also provide details of our service fees plus answer any queries you may have.

Take the next step, we are here to help.

Register a Nevis company.
Open a Nevis bank account.

  Resources:

The UK Persons of Significant Control Register & its impact on companies

The UK Persons of Significant Control Register & its impact on companies

The requirement to maintain a register of people with significant influence or control, more commonly known as the PSC register was introduced to mandate all unlisted companies in the UK, including LLPs and dormant companies to maintain a register identifying those with significant control over a company.

Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law

Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law

This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.

SINGAPORE: the regulation of digital currencies & whats to come

SINGAPORE: the regulation of digital currencies & whats to come

The Monetary Authority of Singapore has released its plans to further control and regulate the current elusive virtual currency market and intermediaries that facilitate their online trade in Singapore. The anonymity surrounding so-called crypto currencies such as bitcoin raises questions over potential money laundering & terrorist financing risks.

How to incorporate a company in Cyprus with the required documentation

How to incorporate a company in Cyprus with the required documentation

Cyprus is the perfect location for incorporating an offshore or private company due to its simple incorporation procedures and agreeable tax structure. Below are the steps to company formation, the registration procedure, and all documentation required for incorporation:

ACRA release new initiatives for Singapore Filing Agents

ACRA release new initiatives for Singapore Filing Agents

ACRA have released new guidelines introduced to update the current system, bringing it transparently in line with other jurisdictions; going forward, businesses will be offered a copy of their business profile and the amount of information available for public use will increase substantially.

The servicing of documents to a Cyprus company & failure to act

The servicing of documents to a Cyprus company & failure to act

A Creditor may apply to court for the issuance of a liquidation order against a company that does not comply with a demand notice to pay any outstanding debts. The notice of demand is served to the registered office of the company, who then has 21 days to pay the fine; failure to do so may result in the liquidation of the company deemed unable to pay its debts by the creditor who can apply to legally dissolve the company.

Gibraltar companies now have to disclose full Beneficial Ownership details to Central Register

Gibraltar companies now have to disclose full Beneficial Ownership details to Central Register

Gibraltar is working to implement all EU legislation relating to the 4th Anti Money Laundering Directive into national law, in addition to the current EU legislation on financial supervision and direct taxation, and to this affect, the Government of Gibraltar have established a Central Register of Beneficial Ownership that will be effective from June 26th 2017.

European Commission publishes tax avoidance disclosure directive

European Commission publishes tax avoidance disclosure directive

The EC (European Commission) has published its draft legislation compelling financial service providers or intermediaries to disclose any international tax planning schemes they have encouraged, enabled or assisted in any way.