What does a second passport give to St. Kitts and Nevis - tax optimization, visa-free travel and more

The Caribbean includes 35 countries. It was here that the world's first citizenship by investment program was introduced in 1984 by the government of St. Kitts and Nevis. To this day, the project is considered exemplary not only in this region, but throughout the world. It does not require renunciation of existing citizenship, and to obtain this second passport in the Caribbean it will take at least 6 months. Not only the investor, but also his family members can participate in the program: wife/husband, financially dependent children under 25 years of age, parents over 65 years of age.

Specifics of obtaining second citizenship of Saint Kitts and Nevis

To obtain St. Kitts citizenship, you need to contact an accredited agent, such as Passportiviti, which has a program page on its website . During the application process:

• The agent carries out a preliminary check of candidates, and if inconsistencies are found, he makes recommendations to eliminate the problem.
• Lawyers prepare a list of documents, notarize them, fill out forms and send them to the address of the program department.
• An online interview is conducted in English for all persons over 16 years of age. A translator is provided if necessary.
• The applicant and all participants over 16 years of age are subject to a security check. It will cost the investor $10000, the rest – $7500.
• The result of the registration is the production of a certificate of naturalization and a passport. They can be picked up at the consulate or embassy.

The investment is made after successful completion of Due Diligence and approval of the application. In 2024, the investment amounts are:

• From $250000 – non-refundable transfer to the account of the Federal Consolidated Fund. For spouses the amount will be $300000, for a family of up to 4 people. – $350000. From the 5th participant $50000-75000/person is added.
• From $250000 – for projects of infrastructure and social significance. This is a non-refundable option.
• From $400000 for the shared purchase of resort real estate or from $800000 for the purchase of the entire villa. These funds, in addition to the state collection, are reimbursable. Only the state fee is non-refundable: $25000 (for the investor), $10000-15000 (for other family members).

If purchasing real estate, it must be selected from a list provided by the government. It can be rented out and sold after seven years. For more information on all the options, see the detailed guide at passportivity.com.

Benefits and benefits with status

Unlike most other projects, St. Kitts' citizenship by investment program allows status to be passed on through inheritance. It is no different from the status obtained by naturalization (for which you need to live in the country for 14-15 years). Also, along with the status, applicants receive new tools:

• Visit 154 countries without visas, including the Schengen area, Great Britain, Korea, and Singapore.
• In a short time, register companies in the country and carry out settlements with partners without currency control.
• Apply for a B-1/B-2 visitor visa to the United States for up to 10 years. It allows you to stay in the States for 90-180 days for commercial, tourist, and medical visits.
• Minimize fiscal costs. Residents may not pay deductions on foreign income, wealth, inheritance, capital gains, or personal income tax.
• Rent out software and other real estate (with an income of up to 5%).
• Provide children with education in schools and universities around the world. Children of investors have benefits at UK universities.

Since the inception of the program, tens of thousands of applicants have taken advantage of it, and its popularity continues. The government of the country creates convenient conditions for individuals who can contribute to strengthening the economic and social well-being of the country.

Photo courtesy of passportivity.com