The Benefits of Acquiring A Second Citizenship and Passport on the Caribbean Island of St. Kitts and Nevis Via the Citizenship-by-Investment Program
In an era marked by political, social and economic instability, international travel limitations, increasingly drastic regulations imposed by governments and draconic sanctions of their citizens, a second citizenship and passport are of utmost importance. Citizens carrying only one citizenship and passport are exceedingly vulnerable to strict restrictions on freedom of movement and capital controls. Regarded as ”citizenship insurance”, dual citizenship dramatically enhances the economic and personal freedom of individuals and their family members, increases the access to a wider variety of lucrative investment opportunities and it even saves lives, especially when citizens are forced to flee their own countries taken over by economic and political chaos.
The demand for a second citizenship and passport by investment programs continues its phenomenal ascending trend by 30-50% per year. Citizens coming from economically, politically and socially unstable countries such as the Arab Spring countries have understood that it is wiser to secure in advance safe havens for themselves and their families instead of seeking refuge in the last minute and getting turned down due to country-specific visa issues. In case of an emergency situation in their country of origin, citizens carrying a second citizenship and passport will benefit from exceedingly more travel options across the globe, which will allow them to move their family members as well as their money without undergoing severe regulations and harsh sanctions. Obtaining a second citizenship from Western countries is generally much more difficult, primarily due to physical residency requirements, in addition to drastic international travel restrictions and harsh sanctions.
Obtaining A Second Citizenship and Passport Via St. Kitts and Nevis Economic Citizenship Program
Established in 1984, the Economic Citizenship Program operated by the governmental authority the Citizenship by Investment Unit (CIU) on the exotic and picturesque Caribbean island ( and the smallest sovereign state, by both population and area in the Americas) of St. Kitts and Nevis is the longest running and oldest economic citizenship program in the world. This island federation is the most popular island haven for investment citizenship, because it offers citizens from all over the globe the most attractive legal economic citizenship program available today, boasting outstanding and enticing advantages such as no personal income tax and allowance for dual ( or multiple) citizenship.
With more than 130 visa-free destinations to its credit, including all of the European Union countries ( even the 26 Schengen states ) and Switzerland, most of the 53 member states of the Commonwealth, Canada, Singapore, Malaysia Hong Kong and Cuba this economic citizenship program is the fastest, most convenient and easiest method of acquiring a second citizenship in the world. Another major benefit of this program is the fact that residency is not a requirement; of course, applicants can take up residency at any time in the Federation as well as in the majority of the CARICOM member countries, for as long as they want to.
Moreover, as opposed to other economic citizenship programs offered by states such as Canada, Great Britain and Bulgaria, the St. Kitts and Nevis citizenship program is approved in a short period of time, because it takes as little as a few months to process applications instead of years and there is no interview requirement. Most applicants for this economic citizenship program are sophisticated and affluent businessmen from North and South America, North Africa, the Middle East, Iran, and Pakistan who are looking for the quickest and most convenient solutions to various country-related issues they may be confronting with. Some of these problems include citizenship-based taxation and paying colossal taxes based on worldwide income ( for US citizens), bloody civil war ( for Syrians) and increasingly stringent Western and UN sanctions that are directed at Tehran s nuclear program ( for Iranians).
All the applicants will benefit from physical exemption during the application process. Investors can look forward to a tax-free status on net wealth, capital gains, gifts, inheritance and foreign income, in addition to enjoying the multiple advantages of a dual citizenship, which is fully recognized by the federation ( applicants do not have to renounce their other citizenship). Applicants are thus provided the opportunity to expand their business and investment horizons, because they are offered financial flexibility to spend and invest their money as they please.
To qualify for the federation s investment program, applicants can choose between two types of investment options.
The SIDF Option
In order to qualify for a St Kitts and Nevis citizenship under this option, applicants are required to make a one-time donation to the public charity SIDF. The mission of this foundation is to assist the government in its efforts to make the transition from a sugar-dependent national economy a more diversified economy, to support the development of alternative industries and to aid the workers who lost their jobs when the main industry became non-viable. The amount of the donation ranges from $250,000 to $450,000, depending on the number of family members. These amounts include all government fees except due diligence fees.
The Real Estate Option
To qualify for a second citizenship and passport via the real estate option, foreigners from all over the globe are required to invest minimum $400,000 in approximately 60 government-approved real estate developments, which includes fabulous condominium units and stunning villas from approved and reputable developers. Windswept Residence, Calypso Bay and Sundance Ridge are only some of the most popular St. Kitts real estate and Nevis real estate developments such as Four Season Residences, and Hamilton Villas and Spas. The Park Hyatt St. Kitts real estate program is another example of designated real estate. Investing at least $400,000 into this luxury resort hotel project will automatically qualify applicants for the second citizenship and passport. This hotel project is developed by Hyatt Hotels in partnership with Range Developments, a reputable hotel developer in UAE. In addition to a second citizenship and valid passport, this option also provides valuable and superb real estate, whose value is expected to increase tremendously in recent future.