Our firm is an agent for the Economic Citizenship program operated by the Government of St. Kitts & Nevis or works with agents, We can give you an outline of the program, and some contact recommendations.
Two Options for Nevis Economic Citizenship
There are essentially two options available, and these are set out below.
The first option is probably the easier in terms of there being no requirement to deal with all the legalities and paperwork involved in a property purchase, but is essentially a gift to Government, as you get no property in return for your investment.
The second option has more commercial or “value for money” appeal.
The first option is to make an investment in the Sugar Industry Diversification Foundation, which was set up about ten years ago, when St. Kitts finally decided to close down our local sugar industry, as a fund to re-train former sugar workers for employment elsewhere in our economy, although the Foundation has, since then, expanded to benefit many areas of the local economy. An “investment” (which should be considered a non-refundable donation) of not less than US$250,000 in this foundation would entitle a foreign investor to acquire economic citizenship, upon payment of the appropriate fees for each passport etc. (see fee information below).
The second option, which is the more usual option chosen when applying for Economic Citizenship is where a foreign individual can invest as little as US$400,000 in a property in an approved development on either St. Kitts or Nevis, and in return would become entitled to Economic citizenship.
More Attractive Option
This is seen as one of the more attractive programs in this region, as the properties which qualify the purchaser for Economic Citizenship are on commercial developments and have in recent years been re-sellable for significant gain. The passports themselves, which establish the applicant as a “full” citizen, without restriction, allow travel to over 90 countries without the need for a Visa or other special entry document; the attached list refers.
Costs
If one chooses the option of investing in Real Estate, the actual costs of the passports, excluding the investment required, are as follows:
a. US$50,000.00 for head of household (male or female) or any other adult.
b. US$25,000.00 for either spouse.
c. US$25,000.00 for each child under 18 years, and
d. US$50,000.00 for unmarried dependant child of the applicant over the age of 18.
e. A due diligence fee of US$7,500 for the first applicant, plus US$4,000 per additional applicant over the age of 16.
If one chooses the Sugar Industry Diversification Scheme option, then only item “e.” from the list above is applicable. Notwithstanding the purchase of the property, there is no requirement for the applicant to establish residency in St. Kitts or Nevis in order to obtain citizenship under this program. This is the Economic Citizenship Program.
