Economic Citizenship through the Purchase of Real Estate
What are the benefits of Economic Citizenship ?
How you can protect your wealth and your health.
Taking up Economic Citizenship in the Caribbean can open up a whole new life of opportunities. Citizenship with a St Kitts and Nevis Federation passport offers the individual the possibility of working within a region that encourages free trade, and where holding this passport allows visa free travel to a wide range of countries.
Are you a high value individual seeking to retire in the Caribbean and feel you suffer from restrictive taxation laws in your own country ?
The St Kitts and Nevis Economic Citizenship programme offers the following:
Zero taxation on foreign earnings
No capital gains taxes
No inheritance taxes
No taxes on gifts or your wealth.
Reduce your stress and live the Caribbean lifestyle, experience improved health and happiness asyou protect your health financially and physically.
Qualifications.
In order to qualify for application to the programme you are required to invest in a property: a beachfront cottage, condominium apartment, plot of land, mountainside villa or something in a luxury planned new resort, there are many different homes to choose from. The stipulation is that the property must have a minimum value of US $350,000 dollars, and be in one of the *approved projects of the ‘Citizenship by Investment Programme’. ( see below.) A fairly substantial cash investment is required for the application, details of which are shown below. Upon approval, after a process of due diligence, the successful applicants are given passports and full citizenship rights to take up residency in St Kitts and Nevis.
Benefits
·Citizenship for life for applicant and eligible family members
·The applicant is not required to reside in St Kitts
·Dual citizenship is permitted, without the requirement to notify theapplicant’s home country
·Passports are issued to successful applicants and any eligible dependants
·Visa Free Travel to a number of counties including European Schengen Countries from early 2009
·Full residency status
·Tax free status on foreign income, capital gains, gift, wealth and inheritance tax
·The right to work in St Kitts and Nevis
Economic Citizenship Legal and Government Fees
Purchasers investing a minimum of USD$350,000.00 are eligible to apply for economic citizenship.
·The non-refundable fee for each adult applicant is USD$3,500.00
·The successful applicant is required to pay USD$35,000.00 for registration as a citizen
·Spouse or offspring(s) included in the application, USD$15,000.00 for the spouse, and USD$15,000.00 for each child (under 18 years)
·The cost for each certificate of registration is USD$47.00.
·The cost of each application form is USD$250.00
·The legal fees for Citizenship by Investment are US$10,000.00 for a family of up to four.
NB.The applicant must agree not to sell the property for 5 years.
Process
The Government stipulates that upon receipt of the application, the process takes a maximum period of three months.However, the process in most cases is completed in a shorter period, dependent upon the time taken by the authorities to obtain the due diligence report on the applicant.The country of residence of the applicant largely determines the time taken to obtain the due diligence report.
The above is for information only and does not form part of a contract or guarantee. All applications must be processed by a lawyer in St Kitts or Nevis and we are able to provide a list of those firms able to provide this service.
The list of approved projects in the Citizenship by Investment programme offers many different types of properties including condominiums, luxuryResort communities beachfront apartments,
May 2009
Documents should be sent to the:
Ministry of National Security P.O.Box 186
Pelican Mall Basseterre, Saint Kitts West Indies
Tel. 869-465-2521
All documents must be originals or certified copies. Please make money orders payable to "Accountant General". It takes 3-4 weeks for the citizenship application to be processed.
