IN622 The Reassurance of Having a Second Passport

Threats and opportunities have always existed and never more so than in this rapidly changing world.

Many countries, including South Africa, are experiencing significant political and economic change. The jurisdiction of St Kitts & Nevis provides an opportunity for individuals to hold a second passport, even if the immediate intention is not to relocate to the Caribbean.

Key Benefits Offered By Holding a St Kitts & Nevis Passport

A St Kitts & Nevis passport can include a wide breadth of dependants, provides extensive travel options, and does not require a visit to the island:

  • A single application can include children up to a maximum age of 30 and parents with a minimum age of 55.
  • St Kitts & Nevis Citizenship guarantees receipt of a St Kitts & Nevis passport, with full Schengen travel rights throughout Europe. Full Schengen privileges means that holders can travel to approximately 152 countries worldwide, either on a visa free, or visa on entry basis. A visa is not required to visit the UK.
  • Applicants do not need to travel to St Kitts & Nevis for the application and there are no annual residency rules to maintain the passport.

What are the Criteria to Obtain a St Kitts & Nevis Passport?

The St Kitts & Nevis Citizenship by Investment scheme enables citizenship and therefore a passport, to be obtained by individuals choosing one of three alternative investment programmes:

Option 1: Sustainable Growth Fund (SGF) Contribution

  • A single applicant can make a contribution of US$150,000 to the Sustainable Growth Fund (SGF). The contribution for a family of up to four is US$195,000. For additional dependants, regardless of age, the contribution requirement is US$10,000 per dependant.

OR

Option 2: Approved Property Development

  • Investment of a minimum US$400,000 in an approved property development. The property must be held for a minimum of 5 years after the citizenship has been granted.

A registration fee is payable by the applicant and additional fees are required for the spouse, children under the age of 18, and additional family members over the age of 18.

If this route is selected, the Dixcart office in Nevis can help source management services for the property, which can be sold on after 5 years. 

OR

Option 3: Luxury Real Estate

  • Investment of a minimum US$200,000 in new luxury real estate. The property must be held for a minimum of 7 years after the citizenship has been granted.

A registration fee is payable by the applicant and additional fees are required for the spouse, children under the age of 18, and any additional family members over the age of 18.

Additional Advantages of Holding a St Kitts & Nevis Passport

  • If a holder of the passport chooses to move to St Kitts & Nevis there is no personal income tax, no gift tax, no death duties, no estate tax, no inheritance tax and no capital gains tax on worldwide income.
  • The passport allows the holder to reside in other Caribbean Community countries (Caricom) if they wish to do so. There are 15 Caricom member states.

Accelerated Application Process

In 2016, the St Kitts & Nevis Government approved a 60-day accelerated application process (AAP). Applicants can benefit from an enhanced process time, in some cases, as little as 45 days. The costs associated with AAP, which include due diligence and passport fees, are:

  • Main applicant: US$25,000
  • Dependant older than 16 years: US$20,000
  • Dependant younger than 16 years: US$500 

Sponsorship

Under certain conditions, it is possible to sponsor family members, to qualify for Citizenship, for example:

  • Common Law Partners
  • Children of the main applicant that do not qualify as dependants.
  • Parents of the main applicant that do not qualify as dependants. 

The sponsor and the individual being sponsored must be direct relatives and the sponsor must complete forms, pay a due diligence fee of$7,500, and provide evidence regarding the identity and source of wealth/funds of the individual being sponsored. 

Additional Information

Dixcart is a licensed Service Provider for the St Kitts & Nevis Citizenship by Investment Programme and can provide comprehensive details regarding the alternative application routes available, additional fees that might be required, and assist with  coordination of the application.

If you would like additional information regarding the St Kitts & Nevis Economic Citizenship Programme please contact Graham Sutcliffe at our office in Nevis: advice.nevis@dixcart.com or your usual Dixcart contact.

Categories: Nevis, 2019