Thinking globally has become intrinsic to visionary investors in the Middle East. St Kitts and Nevis seems to have been one step ahead for the past three decades when understanding the changing needs of investors, wherever their birthplace may be. It was this twin-island nation from the Caribbean that introduced to the world the concept of Citizenship by Investment in 1984, only a year after declaring its independence. Since then, it has allowed people across the globe to achieve a second nationality by making an investment towards the country’s future. As the pacesetter for the industry, it has become a popular avenue for more Middle Eastern high net-worth individuals and their families to solidify their wealth and live a life of greater travel, more lucrative business conditions, and the prospect of better education and health outcomes for all. Today, with over 30 years of unrivalled experience and expertise, St Kitts and Nevis continues to demonstrate vision and leadership in the investor immigration industry.
Grand success of the HRF option
In September 2017, the Hurricane Relief Fund (HRF), as masterminded by Prime Minister Timothy Harris, was introduced as a new, time-limited avenue to obtain second citizenship through investment. It aimed to raise funds to deal with the aftermath of hurricanes Maria and Irma by appealing to those wishing to become economic citizens of St Kitts and Nevis. Within its six-month run, more than 1,200 applications had been submitted, attracting a significant investment into the country’s economy. The Harris administration recently announced that over $11 million from the Hurricane Relief Fund, with the help of international investors, had already been allocated to rehabilitate the homes of 900 families on the twin islands. The HRF was an overall grand success for both current and economic citizens and was applauded internationally for its accomplishments.
Stable and secure with the Sustainable Growth Fund
Following the success of the innovative Hurricane Relief Fund, a new investment route was announced – the Sustainable Growth Fund (SGF). In another show of leadership, Prime Minister Timothy Harris introduced the SGF with the aim of delivering long-term reforms, such as enhancing the quality of education on the twin islands, boosting the already booming tourism sector, supporting indigenous entrepreneurship, and many other socio-economic initiatives. This third investment channel is currently considered the most efficient and secure path to gaining second citizenship. « Many investors prefer making a contribution to the Sustainable Growth Fund, as it is the faster and more affordable route to St Kitts and Nevis’ citizenship, » says Paul Singh, Director of CS Global Partners, an international, industry-leading, award-winning legal advisory firm specialising in citizenship and residency solutions.
For an investment of US$150,000 per main applicant or US$195,000 for a family of four, the SGF option is especially beneficial for larger families from the Middle East looking to second citizenship in the safest, most convenient way possible. The unique Accelerate Application Process guarantees successful candidates citizenship and the accompanying passport within 60 days. Additional fees apply, yet family members receive substantial discounts.
CEO of the St Kitts and Nevis Citizenship by Investment Unit, Les Khan, suggests that the SGF tends to attract sharper-minded individuals: « The Sustainable Growth Fund is not just about sustaining development for our nation, it is also about providing a strong investment opportunity for our potential economic citizens. » New citizens will also have access to invest further in the SGF-stimulated projects, opening doors to creating greater wealth and personal prosperity.
Visa-free or visa-on-arrival privileges
Besides the new entrepreneurial horizons presented by the strengthening economy of a prospering nation, led by a consistently stable government, what sets St Kitts and Nevis apart is its enviable external relations. Businesspersons holding a St Kitts and Nevis passport can travel on a visa-free or a visa-on-arrival basis to over 150 countries and territories, including key business jurisdictions such as Germany, France, Holland, Italy and the UK. St Kitts and Nevis is known for forging extensive diplomatic ties, and its efforts are paying off. The country received international recognition recently from an independent study published by the Financial Times’ Professional Wealth Management. The latest results from the 2018 CBI Index have revealed that St Kitts and Nevis is making travel more accessible to their citizens. The special annual report elaborated by experts at FT/PWM ranked St Kitts and Nevis with top scores in areas of application processing, due diligence and convenient travel and residence requirements, placing the twin-island nation safely onto the global Citizenship by Investment podium.
Regarded as the Platinum Standard of citizenship in the investor immigration industry, it also has one of the most robust due diligence frameworks, meaning that only the world’s best and brightest need apply. The exclusivity of the programme, in a country with an accelerating GDP and booming tourism sector, has only increased its popularity. Many in the GCC region see the value in investing in a country that believes in premium quality and standards. As the industry continues to evolve and more programmes entering the marketplace, St Kitts and Nevis will continue to play a critical part as the cradle and locomotive of Citizenship by Investment.
The Sustainable Growth Fund is not just about sustaining development for our nation, it is also about providing a strong investment opportunity for our potential economic citizen. – Les Khan, CEO of the St Kitts and Nevis Citizenship by Investment Unit.
Source: Khaleej Times