St. Kitts Passport by Investment Program

St Kitts and Nevis citizenship by Investment Program introduced in 1984. It is known as the oldest economic citizenship program of its type. The St. Kitts economic citizenship by invest program is just one of two ways in which an applicant can gain St. Kitts citizenship and St. Kitts passports. It is very much like a second passport 2nd passport program. Under this economic citizenship program in St. Kitts a person can also gain St. Kitts citizenship through the Sugar Industry Diversification Foundation (SIDF) The process of applying for St. Kitts citizenship is easy. All applicants must follow the procedure which is outlined below.

The investment required to qualify for St. Kitts economic citizenship (citizenship by investment) is most definitely a sound investment to make. The investment options are attractive and up front this type of economic investment has many benefits; not only does the investor become a citizen of a politically stable and economically viable tropical island, but the low risk investment real estate is guaranteed to have sound returns.

The St. Kitts economic citizenship program began in 1984 when the appropriate supporting legislation was passed. The economic citizenship program in St. Kitts is St. Kitts economic citizenship program is a sound investmenta legitimate means of gaining dual-citizenship status in St. Kitts. The official name of this — the longest running and successful economic citizenship program — is the Citizenship by Investment Program.

Under this economic citizenship program in St. Kitts, applicants may either purchase real estate through an investment in an ongoing government approved development/real-estate project or via financial donation to the SIDF — an economic fund set up to relive the financial deficit caused by the closure of the sugar industry.

This citizenship program involves applicants purchasing real estate on the island or by investing into an ongoing real estate project. Real estate projects for the St. Kitts citizenship by investment program are all approved and put aside by the government for this purpose. The real estate purchase investment must be equal to or more than US$400,000. In addition to this sum, applicants must also pay up front, registration fees of US$50,000 each for the main applicant and dependents over the age of 18. Those applicants who have a spouse and additional dependents under 18 under the application for the program will pay US$25,000 for each additional person plus due diligence processing fees.

It must be noted that all properties purchased in the real estate option for economic citizenship must remain in the hands of the buyer for a minimum of five (5) years. Transferring or sale of the real estate property can take place after five years. The new owners of the real estate will not qualify as applicants of the St. Kitts citizenship by investment program.

Another program which qualifies participants for St. Kitts citizenship is the Sugar Industry Diversification Foundation (SIDF) option. The SIDF is a public charity which was set up as a means of attracting funds which would be used to create viable employment opportunities for former sugar cane workers on the island. The SIDF was established in 2006. Under this economic citizenship option there are four groupings.

All applicants to this program must make a contribution towards the foundation. The first option is for single applicants worth a donation of US$250,000. For option B one applicants with three dependents will qualify at a contribution of US300, 000. Option C is for an applicant with no more than five dependents. The cost of this is US$350,000 and the final option which is D is perfect for one applicant with six or more family members at a rate of US$450,000. There are additional due diligence fees and agents’ fees to be paid separately

The St. Kitts economic citizenship program is a sound investment to make. The island has a progressive economy and low crime rate. Obtaining citizenship of St. Kitts qualifies the new citizens to apply for passports which can be used for visa free travel in many countries of the world.

St. Kitts is also becoming known in financial circles as a competitive and highly reputed offshore financial services center.

 
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