Established in 1984, the St. Kitts & Nevis Citizenship By Investment (CBI) Program is the oldest economic citizenship programme in the world. The CBI Program was established to attract investors of good character to make a substantial contribution to the development of the country.
To qualify for citizenship, the person applying as an individual or the head of a family must be over 18 years of age, meet the application requirements and make an economic contribution to the country via two investment options.
This could be a contribution of at least $250,000 to the Sugar Industry Diversification Foundation (SIDF).
Alternatively, an investment of at least $400,000 in property in an approved real estate project can be made. The successful applicant must retain the property for no less than five years. After this time the property becomes eligible for a subsequent CBI application. A licensed local processing agent must be engaged to vet and submit the applications.
Benefits
As the oldest in the world, the St. Kitts and Nevis citizenship programme has an excellent global reputation and is regarded as the most trusted and successful of its kind. Having St. Kitts & Nevis citizenship can be invaluable for purposes of tax planning, financial and personal security and a range of additional benefits. For instance, visa-free travel is allowed to more than 130 countries including the UK, EU-Schengen countries, Hong Kong and Singapore. Also an applicant’s children under 25 years old and parents above 65 years old can be included, and lifetime citizenship passed on to future descendents. Dual citizenship is allowed without restrictions, and the strictest confidentiality is observed.
There are no physical residency or minimum stay requirements, nor are applicants required to travel to St. Kitts and Nevis during the citizenship process. There are no personal income, capital gains or inheritance taxes. Furthermore, the application process is relatively fast and no interview, education or management experience are required.
Nevis is a good place to invest offering a range of high-level offshore financial services in a unique legislative structure. The International Monetary Fund has taken a favourable stance towards St. Kitts & Nevis since 2013 and Nevis is a long-established upmarket destination with a bright future and a government that is committed to retaining the island’s position as an exclusive unspoiled tourism destination.
Proving a substantive presence in St. Kitts & Nevis through the presentation of a utility bill can be helpful to reinforce the validity of a person’s residency and passport when passing through immigration controls. This is a fundamental advantage of investing in real estate as an option for citizenship. While a passport alone is acceptable as irrefutable proof of citizenship, further evidence of a close connection with St. Kitts & Nevis will answer immigration questions and provide a more convenient experience at international borders.
Real estate
Wealthy individuals can apply for citizenship via the real-estate option. The process is essentially the same as for the SIDF Option except that a binding agreement with the developer must be in place before the application can be submitted.
Due diligence fees are paid upon the submission of the application and the local processing agent’s fees are paid upfront.
Once approved the applicant pays the balance of the government fees and the purchase price is placed with the Citizenship Investment Unit-approved escrow manager; this must take place before the application can proceed to certificate of registration. The real-estate sale proceeds to closing and the memorandum of transfer is filed with the registrar.
Upon issuance of the Certificate of Registration of Citizenship, the processing agent arranges to apply for the passport, which is then couriered back to the client.
Luxury development
Nevis has a contented island community that has managed to retain an authentic Caribbean way of life whilst offering all the modern comforts associated with a luxury five-star destination.
The Paradise Palms development in Nevis is authorised by the government of St. Kitts & Nevis as an approved real-estate project for Citizenship by Investment. Indeed, in a recent interview on site, Hon. Mark Brantley, Minister of Foreign Affairs and Aviation and Deputy Premier of Nevis, commended the contribution the project will bring to the local economy and the quality of its construction. He also acknowledged how its strong focus on sustainability ties in with the Nevis Island Administration’s policy and vision for Nevis as a leading sustainable luxury destination.
Set amongst 35 acres on a gently sloping former coconut plantation, Paradise Palms is a development of private residences that melds a relaxed Caribbean sensibility with elegant homes and exclusive amenities. The development benefits from breathtaking panoramic views, and with a building footprint of less than 20%, allows each residence to offer exceptional space, privacy and value.
Inspiration for the properties has been drawn from the traditional architecture of the island, as well as the rich natural environment. To blend into the island landscape, the houses are constructed from a classic, dark, sustainable hardwood that will be complemented with soft, light interiors and chic vibrant tones to provide a tranquil and intimate living space.
Each residence is carefully planned and ideally positioned to take advantage of the outstanding views and of the cooling winds that breeze through the property. With elegant shuttered windows, sheltered verandas and lush tropical planting surrounding each house, privacy and seclusion are ensured.
Harmony with nature
Paradise Palms is a green development and has been designed to exist in harmony with
the natural environment. Water will be recycled for irrigation and geothermal power will be utilised throughout once Nevis begins to harness this natural source of energy. The buildings are engineered to Miami Dade hurricane standards and California seismic standards.
Set in beautifully-landscaped gardens the facilities at Paradise Palms include a destination spa and clubhouse with its restaurant, bar and pool terrace. Located at the entrance, the lodge will include a fitness centre, tennis courts, children’s pool, entertainment for the family and a delicatessen for self-catering guests. Onsite services will be provided for housekeeping and laundry, property maintenance and security.
Just a few minutes away the affiliate beach club provides beach activities and an all-day bar and restaurant offering excellent local and international cuisine.
On island tours will be offered — there are a host of activities for the adventurous — and the resort will also cater for sports tours including cricket retreats.
The development aims to capture the experience of relaxed Caribbean living, create an atmosphere that is close to nature, and one that benefits the local community. Paradise Palms is an exclusive development committed to environmental preservation, appealing to North American and European second home buyers seeking the acclaimed Nevis lifestyle experience.
