St. Kitts & Nevis – Requirements and details

Some information about St. Kitts and Nevis

Saint Kitts and Nevis is an Eastern Caribbean state. It comprises two islands included in the Lesser Antilles. It has an area of 261 km2 and a population of 50 thousand (2010). The capital, Basseterre, is located on the island of Saint Kitts.

Saint Kitts and Nevis is the smallest state in the Western Hemisphere, in terms of both land area and population. It is a member state of the Commonwealth of Nations, an organization headed by the Queen of the United Kingdom.

It borders Antigua and Barbuda to the east, Montserrat to the south east, St Eustatius (a special municipality of the Netherlands) to the north west and Saint Barthélemy (an overseas collectivity of France) to the north.All the boundaries are maritime. The total length of the coastline is 135 km.

Originally settled by the British in 1623, the Federation was granted, in 1967, the status of an associated state of the United Kingdom with internal autonomy, and then became an independent state in 1983.

About a year later, in 1984, the country launched an economic second citizenship program which allows to obtain a Saint Kitts and Nevis passport in return for investing in the economy of the Federation or a government-approved real estate development.

Economy

Throughout almost the entire history of Saint Kitts and Nevis, sugar cane cultivation was the country’s primary industry, but in the second half of the 20th century most of the plantations and factories fell into decline and went bankrupt, and it was then that the Sugar Industry Diversi cation Foundation (SIDF) was established, focused on support and development of high-potential sectors of the economy such as tourism, real estate, and nancial services.

The Eastern Caribbean Central Bank, headquartered in Saint Kitts, safeguards the stability of the local currency – the Eastern Caribbean dollar (EC$). It exchange rate is pegged to the United States dollar and stays within the 2.68 – 2.72 band. On the islands, there are branches of the following banks: Scotia, Bank of Nevis, First Caribbean International Bank, RBTT and Saint-Kitts-Nevis-Anguilla National Bank.

Saint Kitts and Nevis’ key export goods are sugar, molasses, cotton and cotton oil, tobacco products and fruit. The country’s imports are around four times the size of its exports: Saint Kitts and Nevis imports machinery, oil products, foodstuffs (the Federation’s agricultural sector caters for no more than half of its demand), as well as manufactured goods. Saint Kitts and Nevis’ primary economic partners are USA, Canada, Malaysia, UK, and Trinidad and Tobago.

Saint Kitts and Nevis is one of our planet’s prime tax havens. Services offered in this o shore area include tax planning and asset management, company registration, establishment of trusts, o shore banking, etc.
In addition, on the island of Nevis there is a unique structure known as the multiform foundation, established to perform the most complex tax planning and asset management tasks.
Unlike several countries in o shore jurisdictions, Saint Kitts and Nevis has no plans to join the OECD ‘white list’ until 2025. British Virgin Islands, New Zealand and Cayman Islands have been on the list since 14 August 2009, Bermuda joined the relevant agreement on 1 October 2009, and Switzerland adopted the terms of the agreement on 1 January 2010.

Citizenship details

Citizenship by Investment Program (CIP) was established by the Government of Antigua and Barbuda in November 2012 and approved by both Houses of Parliament in March 2013. Holders of passports of Antigua and Barbuda have the right to visa-free entry or simplified entrance in more than 130 countries, including all of Western and Eastern Europe, the UK, Canada, Hong Kong and Singapore. Holders of this passport, as well as citizens of other Caribbean countries, need a visa to enter the United States because these countries do not participate in the Visa Waiver program. Under the CIP, the applicant for citizenship must make a significant contribution to the economy of the country. The main applicant must be over eighteen years of age, meet the requirements of the program and to choose one of three investment options: a donation to the National Development Fund (NDF), the purchase of real estate or business investment.

The National Development Fund created to stimulate economic growth, create new jobs, support for small and medium businesses. The Fund helps local entrepreneurs and startups in attracting investments to improve the welfare of the population.

Benefits of Citizenship

• The Federation permits its citizens to have dual citizenship and, in accordance with its legislation, is not obliged to notify and does not notify other countries via official political channels that citizens of the said countries had been granted the citizenship of Saint Kitts and Nevis.

• The Caribbean state’s government is extremely committed to keeping the program uncompromised: since 2011, after economic sanctions against Iran were introduced, applications from this country’s residents are no longer considered; applicants with the slightest hint of a criminal background undergo the most rigorous checks.

• You don’t have to worry that a Saint Kitts and Nevis passport would have a bad reputation or that you would be sharing you citizenship status with shadowy characters.

• Both the existing procedures and the regulatory framework of granting economic citizenship are certain to preclude such precedents.

• Citizens of Saint Kitts and Nevis can travel visa-free or get a visa stamp on arrival in 140 countries, including the UK, Schengen Area states, Canada and most of the Commonwealth member countries.

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