St Kitts and Nevis – the platinum standard for citizenship by investment

St Kitts and Nevis – the platinum standard for citizenship by investment

3rd November 2016

Boasting one of the world’s lowest inflation rates, at -2.3 for 2015, and a 5% growth rate in 2015, the Caribbean paradise of St Kitts and
Nevis is an attractive destination for investors looking for a
business-friendly jurisdiction with exceptional potential. Indeed, not only
does this island-nation provide a vibrant environment in which to start a
venture, but it compounds its investment offerings with one of today’s most
sophisticated citizenship by investment programmes.

The Platinum Standard for Citizenship by Investment

St Kitts and Nevis devised the world’s first-ever citizenship
by investment programme in 1984, immediately making its mark as a leader and
innovator in the realm of economic citizenship. The country’s commitment to its
Programme has thus lasted over 30 years, making it one of the most stable and
secure options for those looking for a second citizenship.

The secret to the success of the St Kitts and Nevis
Citizenship by Investment Programme has been to continue to strive for
excellence, and to recalibrate when necessary. In September 2016, for example,
the Prime Minister announced the appointment of Les Khan as the new Chief
Executive Officer of the Citizenship by Investment Unit, the Government body
responsible for processing citizenship applications. Mr Khan has a long history
of working in regulatory compliance, and for 18 months prior to his assignment
worked to restructure the Unit, heighten its security measures, and train staff
in anti-money laundering. His appointment denotes St Kitts and Nevis’
dedication to due diligence and integrity.

Prime Minister Timothy Harris and the Head of CIU Les Khan
Prime Minister Timothy Harris and the Head of CIU Les Khan

At the same time, the twin islands have been improving their
internal procedures to lower processing times, and to ensure that applications
are assessed efficiently. Currently, St Kitts and Nevis will return an approval
in principle on a successful application in as little as 45 working days – one
of the fastest turnaround periods across the citizenship by investment arena.
Furthermore, the St Kitts and Nevis Unit is the first to implement a 24/7 Case
Management System, to enable online tracking of applications and easy access to
information held electronically.

The goal is to provide a service that is the ‘platinum
standard’ of citizenship by investment, that is, the highest level of
competency, transparency, and effectiveness, to continue to inspire trust in
the Programme and citizenship of St Kitts and Nevis.

Outlining the Programme

There are two options for citizenship by investment in St
Kitts and Nevis. The first is to contribute to the Sugar Industry
Diversification Foundation (SIDF), a Government-run charitable organisation,
while the second is to invest in pre-approved real estate on the islands.

The SIDF solution is the quickest and most straightforward
path to gaining citizenship, requiring a one-time contribution. Funds derived
from the SIDF are used to empower Kittitians and Nevisians through social and
economic reform.

Real estate under the Programme encompasses hotel
developments or residential properties such as luxury villas or condominiums.
Property purchasers may avail themselves of a holiday home in a tropical haven,
real estate to rent to the islands’ growing number of tourists, or merely of a
lucrative investment to add to an existing global portfolio. The property can
be resold after a short five-year wait.

One of the most trusted names in the domain of citizenship by
investment, St Kitts and Nevis provides an alluring alternative for second
citizenship. Not only does it uphold a platinum standard for citizenship
applications, but it also compels applicants, particularly those with an eye
for profit and entrepreneurship, to invest in the nation’s prosperous economy.

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