December 11, 2018
The St Kitts and Nevis government recently revealed that application numbers for its citizenship have reached a new peak, compared to the previous four years. The small Caribbean country has been welcoming investors since 1984 – a year after gaining independence from the UK – under its Citizenship by Investment Programme. A new investment route, called the Sustainable Growth Fund (SGF), was launched this spring and is credited for this year’s popularity of the programme with foreign investors and mobile families.
Frequently cited factors for St Kitts and Nevis citizenship via SGF include fast and straightforward processing; easy and secure completion of applications via authorised agents; and no entrepreneurial risks. Because applicants are to make a single, non-recurrent contribution directly to a government account, there are no intermediaries, nor future financial or physical requirements, other than abiding by national and international laws.
St Kitts and Nevis citizens are allowed to travel visa-free or with a visa-on-arrival to nearly worldwide, including key business hubs across the EU, such as London, Frankfurt or Paris. New Delhi entrepreneur Gurpreet Singh says he chose the St Kitts and Nevis citizenship to complement his busy lifestyle and need for greater international mobility. “Years ago, I came across the St Kitts and Nevis Citizenship by Investment Programme and realised it was perfect for me. I researched both the real-estate route and the fund option and I ultimately decided to make a one-off contribution to the government fund. This saved me a lot of time and hassle before and after obtaining the citizenship,” says Mr Singh.
The minimum investment needed to gain the is via the SGF, which asks for US$150,000 per single applicant. All candidates must undergo and successfully pass the programme’s strict security vetting checks. This comes to replace all residence or visit requirements and guarantees that international security and transparency standards are upheld. Recently, FT Specialist publication Professional Wealth Management acknowledged the country’s exemplar due diligence framework, scoring it 10 out of 10 marks in its annual report.
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