Several countries have implemented programs, like St. Kitts and Nevis, which allow citizenship to be gained based on an investment and/or a direct contribution to the state as a means of improving the country.
Background and legal considerations
The St Kitts and Nevis citizenship program was established in 1984 and requires applicants to contribute economically to the country. They and their relatives, in return, are given full citizenship.
In Part II, § 3 (5) of the Citizenship Act, 1984, and Saint Christopher and Nevis Citizenship-by-Investment Regulations, 2011, the legal framework for citizenship-by-investment is given. These provisions allow the government to introduce a program in which citizenship is given to individuals who qualify following the conditions laid down by the decision of the cabinet.
Requirements and processes
Under the donation option, acquisition of citizenship allows an applicant to make a USD 150,000 non-refundable contribution to the Sustainable Growth Fund (SGF). Alternatively, in addition to paying government fees and other fees and taxes, applicants must invest either at least USD 400,000 or USD 200,000 in one of the permitted real estate projects. The SGF is a fund set up to promote economic development and to boost all sectors of the economy.
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Following the following requirements, an applicant can contribute the SGF:
Under the SGF, all government charges are included in the overall sum, but due diligence fees are excluded, which are the same for the real estate alternative. All options allow an employee between 18 and 30 years of age to be included in the main applicant’s application if the employee is a full-time student and is financially dependent on the main applicant. The government also requires parents and grandparents over the age of 55 to be counted as dependents in the application if the primary applicant stays with them and is completely assisted by them.
The procedure for gaining citizenship takes three to four months through the Citizenship-by-Investment Program of St. Kitts and Nevis. With a 45 to 60-day processing period, there is also an accelerated application process available.
Costs and penalties
Depending on the case and the number of persons involved in an application and depending on whether the real estate or SGF option is selected, Henley & Partners charges various fees. The entire negotiated fee (less any initially charged retainer) is paid in advance into an escrow account and is released when the request is sent to the government.
For more details about what fees would apply in your case, please inquire.
Dual citizenry
St. Kitts and Nevis have no limits on dual citizenship.
Advantages
You and your family enjoy full citizenship for life, which can be passed on to future generations by descent when you gain citizenship under the St. Kitts and Nevis citizenship program.
As citizens of St. Lucia passports that permit visa-free or visa-on-arrival travel to 156 countries and territories worldwide, including all EU member states, are issued to you and your family.
You will have the right to take up residency in St. Kitts and Nevis and in most of the CARICOM member countries at any time and for any period.
INVESTMENT OPTIONS
1. Sustainable Fund for Growth
In April 2018, a new permanent investment fund was launched by Saint Kitts & Nevis to replace the temporary Hurricane Relief Fund set up to resolve the damage caused by the 2017 Caribbean hurricanes. For donations, the new Sustainable Growth Fund is available, with the following thresholds:
- 150,000 US dollars: single claimant.
- $25,000 US: Partner.
- US$ 10,000: Per dependent extra.
Limited Time Offer: The Government of Saint Kitts & Nevis is currently providing a reduced donation of US$ 150,000 (instead of US$ 195,000) to a family of four. The offer is valid for the duration up to 31 December 2020.
Furthermore, due diligence charges are as follows:
- US$ 7,500: The primary applicant’s due diligence.
- US$ 4,000: Due diligence for 16-plus dependents.
- US$ 4,000: Strategic sponsor due diligence.
2. Investments in Real Estate
Five-year retention period
Applicants can purchase government-approved property valued at a minimum of US$ 400,000 or, in real estate development, purchase shares valued at the same minimum amount. It is important to sustain the investment for a minimum of five years.
- Duration of seven-year keep
In a government-approved luxury resort, applicants can invest US$ 200,000. It is important to sustain the investment for a minimum of seven years.
Conclusion:
The government of St. Kitts and Nevis has named Henley & Partners and is officially allowed to manage applications under its citizenship-by-investment scheme. A formal agreement between the applicant and Henley & Partners before accepting any mandate to manage an application is signed for the security of the client.
At the absolute discretion of the Government of St. Kitts and Nevis, the granting of citizenship. Therefore, we can not guarantee that all requests will be accepted. However, before approving a mandate, we verify each applicant’s particular condition and carefully plan each application.
