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:

Panama Law 52: Updated legislation for all legal entities

Panama Law 52: Updated legislation for all legal entities

Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.

Important 2016 reporting deadlines for BVI Financial Institutions

Important 2016 reporting deadlines for BVI Financial Institutions

Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.

Thinking of relocating your business to Singapore? Let us help you!

Thinking of relocating your business to Singapore? Let us help you!

Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.

How to register a branch in Cyprus

How to register a branch in Cyprus

Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.

To Brexit or not to Brexit?

To Brexit or not to Brexit?

To Brexit or not to Brexit - this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in. Why has this been such a difficult decision to decide upon?

Selecting a Management Information System

Selecting a Management Information System

A management information system or MIS is used to assist in the analyses and formulation of business strategy, as well as facilitating operational objectives. Selection of an MIS can help increase understanding and control in an organisation and can be scaled to suit the complexity of most modern businesses. If the right MIS is selected and it is implemented correctly it can provide a competitive advantage for the organisations utilising it.

Windows 10 update: having issues with the installation?

Windows 10 update: having issues with the installation?

By now you have probably about Windows 10, the latest operating system developed by Microsoft.

Accounting support for a Cyprus company located in Russia

Accounting support for a Cyprus company located in Russia

When expanding your business overseas, not only do you have to comply with International Financial Reporting Standards (IFRS) and accounting standards, thought must also be given to the specific jurisdictions own rules and regulations.