Citizenship by Investment has become common across the world after St Kitts and Nevis launched its first such program in 1984 to revive its economy that was facing the severe consequences of slowly closing the sugar industry.
Several countries throughout the world are now opting for Citizenship by Investment Program’s to intensify the incoming of cash from Foreign Direct Investment (FDI).
The economic citizenship programs allow people to obtain citizenship from a particular country in exchange for a specified amount of investment in the country’s public infrastructure.
Citizenship by Investment can also be defined as “the means of acquiring a second citizenship by spending in the economy of the host country.” These investments can come in the form of bonds or various new business ventures.
The business of providing visas and citizenship to wealthy investors has become a more common, and in some instances, highly thriving, marketing strategy.
St Kitts and Nevis offer one of the extremely straightforward and speedy Citizenship by Investment Program under the Fund Option. It is considered to be the World’s Fastest Citizenship by Investment Program in CBI Index published by Financial Times’ PWM Magazine.
St Kitts and Nevis’ Citizenship by Investment Program under the Fund Option allows applicants to opt for the Accelerated Application Process at an additional cost of USD 25,000.
What is the Fund Option?
Sustainable Growth Fund is often known as the Fund Option- It is the best, fast, and most straightforward route to obtain second Citizenship from St Kitts and Nevis.
With Fund Option, the applicant’s contribution is directly made to a government-held fund, with the Citizenship by Investment Unit (CIU).
The Sustainable Growth Fund outlines the ongoing improvement of St Kitts and Nevis to realize its potential as a prospering small-island nation with an accelerating economy.
Benefits of Fund Option
Fund option is assisting the twin-island nation in achieving its goals of infrastructural, educational, and health development. There are several benefits of Fund Option to the investors themselves.
- The Fund Option proposes the fastest route to citizenship.
- Fund Option ensures the privacy of its applicants and is a discrete and most trustworthy channel
- Citizenship under the Fund Option is granted for life and can be passed down to future generations
- Fund Option does not have any mandatory travel or language requirements for its applicants.
- It gives visa-free and visa on arrival access to over 160 countries across five different continents.
- St Kitts and Nevis also give enormous tax benefits to its citizens where there is no income and inheritance tax.
How is Investment made to the Fund Option?
St Kitts and Nevis allow its applicants to make a minimum investment of USD 150,000. Under the Fund Option, an applicant can also include family members- spouse, children, parents, and also grandparents.
Investment for a single applicant: Non-refundable contribution of US$150,000 is required.
Investment for a family of four or more- Main applicant with up to three dependents( spouse or two children) is required to make a non-refundable contribution of US$ 195,0000. For any additional dependent, regardless of age, US$ 10,000 is charged.
Additional dependent: US$10,000 on submission of the application, non-refundable due diligence, and processing fees is required to be paid. These fees amount to US$7,500 for the main applicant and US$4,000 for each dependent of the main application, who is over the age of 16 years.
Citizenship by Investment Program of St Kitts and Nevis is currently offering an exclusive price cut of US$ 45,000 on the fund option for a family of four.
Under the recent exclusive offer, all applicants can obtain second citizenship from St Kitts and Nevis with three additional dependents at US$ 150,000 instead of US$ 195,000. The offer, which was started in September 2020, is ending on January 15, 2021.
To ensure the safety of its citizens and also to keep the integrity of its Citizenship by Investment Program- St Kitts and Nevis require all applicants and their dependents over the age of 16 to go through “mandatory” due diligence checks.
Simultaneous to submission of an application, a non-refundable due diligence fee is to be paid. The fee amount is US$7,500 for the main applicant and US$4,000 for each dependent over the age of 16 years.
Accelerated Application Process
St Kitts and Nevis is the only country in the world to give Accelerated Application Processing(AAP) option in Citizenship by Investment Program under the Fund Option. Under the AAP can an application can be completed within 60 days, while some applications can be processed as early as 45 days. All applicants except people from the Republic of Iraq, Republic of Yemen, Federal Republic of Nigeria are not considered eligible for the Accelerated Application Process (AAP).
AAP Process Fees (inclusive of Due Diligence Fees)
Main Applicant: US$25,000.00
Dependent above 16 years: US$20,000.00
Process of Obtaining Citizenship of St Kitts and Nevis
Step 1: All applicants must select a licensed agent approved by the Citizenship by Investment Unit of St Kitts and Nevis
Step 2: Complete all the application forms and necessary documentation as provided by your authorized agent.
Step 3: Await the outcome of your application, and if approved, you will receive a confirmation letter with the status “approved in principle.”
Step 4: Make an investment to the Sustainable Growth Fund and play your part in St. Kitts and Nevis’ blooming future.
Step 5: After following and qualifying all four steps, applicants are granted citizenship of St Kitts and Nevis.
Citizenship by Investment Program of St Kitts and Nevis accepts applications from all across the world; however, Afghanistan and Iran are two countries that cannot apply for CBI.
St Kitts and Nevis is now the most desired country for second citizenship as it is one of the few in the world to record only 34 coronavirus cases and zero deaths due to the pandemic that has killed over 1.95 million people globally.
Citizenship by Investment Program of St Kitts and Nevis under the fund option has also reduced the cost for a family of four in context to the ongoing pandemic and economic shutdowns in different countries.