Basseterre, Jan. 10, 2023 (GLOBE NEWSWIRE) -- It seems 2023 will be no different from last year as the world continues to feel the shocks from geopolitics – Vladimir Putin’s invasion of Ukraine has led to the biggest land war in Europe since 1945. Added to this, soaring food and energy costs are fuelling the highest rates of inflation since the 1980s.
How can you hedge and protect your wealth and assets amidst these concerns? Second citizenship in the twin federation of St Kitts and Nevis may be the solution.
Becoming a St Kitts and Nevis citizen is an investment in your future. Invest wisely with the help of a trusted expert and plan for your retirement knowing that you will carry a citizenship which provides access to world-class healthcare, freedom from international travel restrictions, and no limitations on employment opportunities.
What are the benefits of St Kitts and Nevis's Citizenship by Investment Programme?
The St Kitts and Nevis Citizenship by Investment (CBI) programme has been a popular choice for many families and entrepreneurs looking to obtain a second citizenship. It is the oldest and one of the most trusted programmes of its kind. Since 1984, it has allowed investors and their families to legally obtain citizenship in one of the Caribbean’s most idyllic locations.
Some of the benefits of this programme are:
- No residency requirement
- No language requirements
- No need to spend time in St Kitts and Nevis
- Full citizenship, after strict background checks, in 90 days
- Flexibility in choosing the type of investment.
What are the new changes in the CBI programme?
Much-anticipated changes to St Kitts and Nevis’ CBI programme were announced in December by the country’s recently appointed Citizenship by Investment Unit Head, Michael Martin. Setting a bold and new tone for the industry as a whole, St Kitts and Nevis is once again leading the way for the investment immigration industry – adding a new layer of integrity to truly accelerate the country’s economic diversification, empower and prosper local citizens while creating an enriching base for the discerning investor.
The changes were gazetted on 23 December 2022 and took effect on 1 January 2023.
The programme will be underpinned by three fundamental principles that have guided the administration’s decision-making with respect to the evolved version of the twin-island’s CBI programme – sustainability, good governance and pragmatism.
Effective this year, a professional CBI Board of Governors will be responsible for high-level supervisory matters such as providing general oversight of the operations the CBI Unit, developing and implementing policies and procedures for the CBI Unit, ensuring that application processing is completed as swiftly as possible within the time frames advertised and, continuously monitoring the global investor immigration industry to ensure that the country’s CBI regulations align with and adjust to, international market forces.
To further the programme’s good governance agenda, a CBI Technical Committee will be charged with ensuring that all due diligence background checks are comprehensive and that all citizenship by investment applications are reviewed thoroughly. The role of the chairperson of the technical committee will be filled by the recently appointed Head of the CBI Unit, Michael Martin.
How does the citizenship by investment programme work?
Citizenship by investment programme is a process by which an individual can obtain citizenship in a country, typically through making a significant financial investment in that country. There are only a few countries that offer these types of programmes and the requirements vary from country to country.
Some programmes require high-net-worth individuals to invest large sums of money in order to receive citizenship, while others do not have any requirements other than paying a required fee.
Citizenship by Investment programmes are becoming more popular as they are seen as an effective way for countries to gain access to foreign capital and develop their economy. They also provide investors with alternative options for financial planning, options for conducting business, and citizenship and residency options for future generations.
Is citizenship by investment a good option for everyone?
The answer to this question is not straightforward. There are many reasons why someone would want to invest in citizenship by investment. Some of these reasons include:
- The person may be interested in getting a second passport, which gives them the opportunity to travel and work in more countries than they could before.
- They may have a lot of money that they want to invest and this is the only option for them.
- They may be looking for a way to protect their assets from political instability or economic downturns.
- They may have family members who are citizens of the country, and they want to join them there.
- The person might just be looking for a new adventure and wants an alternative to their current daily life.
What is the price of citizenship by investment?
Citizenship by Investment programs are becoming increasingly popular. They offer a pathway to citizenship in a country without the need of living in that country.
The price of citizenship by investment varies from country to country and can be as low as $100,000 or as high as $2 million. For the first six months of this year, the minimum investment for St Kitts and Nevis CBI programme is $125,000.
There are also no requirements for language skills or residency requirements which allows people to have more flexibility with their investments if they choose to invest in St Kitts and Nevis's CBI programme. The benefits of this programme are apparent when you consider how much more competitive it is than other programmes in other countries such as Austria, Canada, New Zealand and Singapore.
How can I apply for the programme?
There are four ways in which an applicant can apply for citizenship under the St Kitts and Nevis Citizenship by Investment Programme:
1. By donating to the country’s Sustainable Growth Fund (SGF)
2. By investing in pre-approved real estate
3. By purchasing a private home
4. By choosing the Public Good Investment Option
