Basseterre, Jan. 31, 2023 (GLOBE NEWSWIRE) -- As the number of high-net-worth individuals grows across the world, the effects of wealth acceleration are felt in Thailand as well.
As a country in Southeast Asia, Thailand is known for its tropical beaches and rich history. Bangkok, its capital, is a very popular city for the ultra-wealthy, as it offers modern amenities and tropical weather not far from nature’s escapes.
According to Knight Frank’s latest edition of The Wealth Report, Asia-Pacific is host to the world’s leading wealth hub. The affluent continue to be bullish on the region’s trajectory, which can be witnessed by the forecasted growth in the UHNWI and HNWI population between 2021 and 2026, which will be the fastest across all regions.
As the wealth boom shifts east, the billionaire population of APAC will also rise quicker than the global average (33.7%), at 36.7% during the next half a decade. By 2026, more than a third of the world’s billionaires will be from the region, a proportion that has continued to rise. This reinforces that Asia-Pacific will be the engine of wealth creation in the 2020s. While gateway markets continue their path of stable and resilient growth and developing markets play catch-up at a very rapid rate.
According to reports, a new class of super-wealthy is emerging and is known as the centimillionaires. These investors consider establishing residency and citizenship in multiple countries, and the multinational living that accompanies it, as key to their wealth management strategies. As Forbes advises, “the super-rich increasingly pursue domicile diversification to broaden investment opportunities and business operations—and to have location fluidity that safeguards against risks ranging from geopolitical conflict to climate change to a viral outbreak.”
Gain second citizenship in St Kitts and Nevis while being a resident of Thailand
St Kitts and Nevis is a dual-island nation situated between the Atlantic Ocean and the Caribbean Sea. During the 1980s it pioneered the concept of citizenship by investment (CBI) and has been running one of the most successful programmes of its kind in the world for nearly 40 years. All other CBI programmes are benchmarked against that of St Kitts and Nevis.
Thailand and St Kitts and Nevis are two countries with many similarities. Both countries have tropical climates, beautiful beaches, and vibrant cultures. Additionally, both countries share a passion for tourism and hospitality, which has helped them become popular destinations for travelers from around the world. The two nations have much in common, making them unique options for global investors.
Benefits of the St Kitts and Nevis CBI Programme
- Accelerated application process available
- No travel, residency or English language test requirement
- Enhanced global mobility
- A fair tax regime, with no worldwide income, inheritance or gift tax for tax residents
- Business haven – incentives for businesses and investment
- Citizenship is not reported anywhere, ensuring privacy
Investment options for St Kitts and Nevis Citizenship
Investors can choose one of four investment options to apply for St Kitts and Nevis citizenship by investment:
- By donating to the country’s Sustainable Growth Fund
- By investing in pre-approved real estate
- By purchasing a private home
- By choosing the ‘public good option’
A limited-period offer is available for the Sustainable Growth Fund option which runs until 30 June 2023. Investors can gain second citizenship in as little as 60 days with this option.
The revenue from the fund is aimed to facilitate economic development and social upliftment in the country. The Sustainable Growth Fund will be used to provide financial support to educational institutions, and medical facilities, as well as provide additional funding for the construction of infrastructure, the development of local tourism, the preservation of local culture and heritage, and support of sustainable growth initiatives in the twin-island nation.
As part of the Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$125,000 to the Fund and receive approval in principle within 60 days of submission of the application.
Under the Limited Time Offer, investment options are as follows:
- Single applicant – US$ 125,000
- Main applicant and a spouse – US$150,000
- Main applicant, spouse and two dependants – US$170,000
- Each additional dependant under 18 – US$10,000
- Each additional dependant over 18 – US$25,000
From 1 July 2023 onwards, applicants investing through the Sustainable Growth Fund will be charged as follows and can expect approval in principle within 90 days of submission of the application.
- Main applicant – US$150,000
- Main applicant and a spouse – US$175,000
- Main applicant, spouse and two dependants – US$195,000
- Each additional dependant under 18 – US$10,000
- Each additional dependant over 18 – US$25,000
