CBI is a special article of law that allows citizens of other countries to obtain papers in exchange for a donation to the economy. One of the popular and sought-after regions is St. Kitts. Stunning scenery and a pleasant climate are far from the only advantages of this territory.
It is not the most expensive scheme, so it is popular among foreigners. According to the St Kitts citizenship program, the minimum investment amount is 125 thousand dollars. The island region is a member of the British Commonwealth, making it in demand.
The Citizenship by Investment Program in St Kitts
There are several investment options for obtaining a passport:
- Sustainable development fund. These are non-refundable deductions of $125,000.
- Acquisition of apartments. The investor can buy the premises in full or invest in a share. As for the types of real estate, according to the law, the foreigner has the right to choose social or state-approved projects.
Applicants often prefer the second option, as it gives them the right to profit from the object. There is also an opportunity to sell the property subsequently. However, this will be possible after seven years.
Key Benefits of the Program
Some of the significant benefits St Kitts and Nevis citizenship program applicants note are the following:
- the ability to retain previous citizenship;
- the right to indicate family members in the application;
- visa-free travel to more than one hundred and fifty countries;
- the opportunity to live and work in the Caribbean Community;
- the right to apply for long-term visas to Canada and the United States;
- a loyal tax environment;
- the right to receive a Commonwealth Scholarship.
Undoubtedly, each applicant can name individual advantages received from St Kitts passport by investment.
Eligibility Criteria for St Kitts Citizenship by Real Estate Investment
Meeting the applicant’s requirements and completing all the necessary steps increases the chances of the application being approved. According to the law, a St Kitts citizenship by real estate investment applicant meets the following criteria:
- without a criminal record;
- able to prove the stability and legality of his income;
- does not have any serious illnesses.
The spouse must also meet all of these requirements. The requirements for dependent relatives are as follows:
- is financially supported by the applicant;
- under 25 years of age (for parents over 55);
- children must prove attendance at an appropriately accredited educational institution;
- brothers, and sisters must not have children or be married.
Meeting the criteria and having the necessary money maximizes the chances of the application being approved.
Step-by-Step Process of Gaining Citizenship through Real Estate Investment
The process of obtaining St Kitts citizenship by investment can take from two months to six months. According to the Immigrant Invest expert Zlata Erlach, the procedure consists of the following steps:
- The application is made exclusively through an agent. Therefore, you must first go to a licensed agency and sign an agreement with a representative.
- All paperwork is pre-screened, and the chances of a positive result are evaluated.
- Forms are filled out under the guidance of an experienced specialist, and translated into English.
- The agent submits the papers to the department, where they go through several levels of verification.
- Selecting an object and paying a deposit amount.
- The department announces approval of the application. From this point, the applicant has 90 days to complete the real estate transaction.
- Getting the papers.
Remember that there are other costs besides the purchase: for each additional member on the form and the paperwork.
Important Considerations when Investing in St Kitts Real Estate
Most of the applicants buy shares in resorts and hotels. This way, they get a passport and the opportunity to make a profit. However, the amazing thing is that they do not have to manage the business themselves. The investor can also stay in the room himself, as well as use the loyalty service.
The applicant is not required to stay in the country at any stage. And there is no restriction on staying in the country to maintain the status. It is worth noting that the profits from rental properties are not taxed, so the investor obtains a stable net income. Since tourism is one of the main economic components, tourist real estate is always in demand.
Saint Kitts citizenship program is one of the most popular, and the country’s passport is the strongest among the Caribbean states. It is important to note that the legislation allows any foreigner to purchase real estate, but obligations will then limit him, and he will be required to pay taxes. Residents have no such restrictions. The program allows both sole ownership of the property and joint ownership. You must maintain possession for seven years; after that, you can sell and recover your investment.
The application should be made exclusively through a representative. Therefore, the procedure begins with finding a certified agent to handle all the hassle. Only then can you be sure of a successful outcome. Professionals know all the subtleties and nuances, which allows them to cope with even the most difficult issues that arose on the way to obtaining a visa.