Investing means you’re planning for the future for yourself and the ones you love. Given the uncertainty that the last year provided, you want to make sure that your investment goes the furthest – this is where St Kitts and Nevis comes in.
St Kitts and Nevis’ economy revolves mainly around tourism, agriculture, and manufacturing. Its currency is the East Caribbean Dollar, and the official language is English. St Kitts and Nevis is also famous for its foreign-friendly business policies. In 1984, it launched the first citizenship by investment (CBI) programme ever instituted. For decades, the prestigious Caribbean citizenship programme has provided reputable foreign investors with the incredible opportunity to get St Kitts and Nevis citizenship in exchange for a qualifying investment.
Here are our top ten reasons why you should consider investing in St Kitts and Nevis.
St Kitts and Nevis is a mesmerising twin-island country located in the Caribbean. It is famous for its beauty, volcanic formation, and pristine beaches. With its sunny and sandy beaches and strong national infrastructure, the country had turned into one of the fastest-growing economies in the Caribbean.
In St Kitts, which is the bigger island, you can find the most life and activities. Nevis, on the other hand, is more preserved, benefiting from a tranquil atmosphere. In Nevis, you will find hiking trails, beautiful beaches, and luxury private housing.
Since the island has award-winning and internationally acclaimed education institutions like veterinary and medical universities, it attracts global-minded professionals. People from all over the world come to St Kitts and Nevis, over a million a year to be exact, because of its booming tourism sector. Many enjoy it so much that they end up staying. In recent years, the nation has seen growing numbers of American visitors. Around 1,000 US citizens currently reside on the islands. Now, with more work from home policies than ever, many see the Caribbean as the perfect destination to get away from the bustle of big cities while continuing to be connected when business calls.
St Kitts and Nevis has English as both its national and official language. The British governed the islands until 1983, and English is, therefore, a colonial legacy in the nation. The wide use of English makes it easy for people to do business in its thriving economy and explore its breath-taking natural scenery.
If you’re a reputable individual going to do business or invest in property in St Kitts and Nevis, you might as well get a second citizenship out of it. Through the CBI Programme’s Sustainable Growth Fund (SGF) option, you and your family are eligible for St Kitts and Nevis’ prestigious citizenship. Applicants can also choose to invest in pre-approved real estate. However, all applicants must first pass strict due diligence. The SGF is the fastest and most affordable way to attain second citizenship and the processing time takes on average around three months from submission of an application to approval, unless you opt for the faster, more expensive Accelerated Application Process. Otherwise, permanent residency or naturalisation routes can take several years.
In an ever-globalising world, unrestricted mobility is a vital tool that can help level your business to an international market. A 2021 report released by the Financial Times’ Professional Wealth Management (PWM) magazine recognised St Kitts and Nevis for having the most extensive visa-free and visa-on-arrival offering in the Caribbean out of all Caribbean CBI nations. Presently, St Kitts and Nevis citizens can travel to nearly 160 countries and territories across seven continents without the limitations of extensive pre-departure paperwork. These destinations include some of the world’s top business hubs.
St Kitts and Nevis remains in high demand as a renowned port for its exceptional tourism, complemented by an unmatched experience. The nation achieved the honorary marquee tourist destination status and welcomed one million cruise passengers for two consecutive years prior to the pandemic. This means that no matter where you invest in the country, you can get a bang for your buck as almost every sector on the islands is touched by people coming and going.
In addition to citizenship and global visa-free access, St Kitts and Nevis offers its citizens who choose to become tax residents a wide variety of insurance services in a tax-friendly environment. For example, the country guarantees financial privacy by not making any information about offshore business owners and top managers public.
St Kitts and Nevis and the US have been diplomatic allies since 1983, the same year the dual island attained independence. Alexander Hamilton, an influential leader in the United States’ founding, was born in Charlestown, Nevis. St Kitts and Nevis also has direct air routes to many cities in the US, like Miami, which is less than five hours away.
Moreover, the Eastern Caribbean dollar, the currency of the organisation of Eastern Caribbean states (OECS), including St Kitts and Nevis, has been pegged to the United States dollar since 1976.
Portfolio diversification is the first step in dispersing your investments so that your exposure is not limited to just one type of asset. An investment in property in St Kitts and Nevis would allow you to diversify your investment portfolio and potentially make a return upon selling that your share in real estate after the end of the minimum hold period.
This will also ensure that you retain a certain amount of your wealth outside of your home country. In uncertain political and economic climates, knowing that a portion of your portfolio is free from the grips of a potentially corrupt government can give you tremendous peace of mind.
The St Kitts and Nevis Patriots are set to become the first team in the Caribbean Premier League to launch fan tokens along with NFTs – a non-fungible unit of data stored digitally. The team’s openness to digital assets reflects the country’s broader commitment to technological advancement – a leading reason why the islands have become a popular destination for tech investors and entrepreneurs.
Likewise, the dual island nation is one of the first in the Eastern Caribbean to pilot a digital currency known as DCash. St Kitts and Nevis also passed a Virtual Assets Bill in 2020 to enable citizens to trade in assets like cryptocurrency in a simplified and straightforward way.
CS Global Partners has over a decade of experience in the CBI industry, and we seek to offer the best advice to investors looking for second citizenship or permanent residency. We tailor specifically to the needs of our clients and their families.
Your first consultation is free of charge. If you have any questions, please do not hesitate to speak to a member of our team.