Whether it’s the UK or the USA, when I started searching for the options, I get the feeling that the world is closing its doors for immigrants. Authorities are putting red tapes on allocating nationality via routes like Jus soli (right of the soil), Jus sanguinis (right of blood) and naturalization. Perhaps, you are also facing the same restrictions while started looking for the residency options. However, if you possess enough money, you will be eligible to acquire a second passport from many countries and avail the permit to live with native rights in a foreign territory. There are countries like St Kitts and Nevis that welcome foreign investors to fund infrastructure and real estate projects and issue them passport along with native rights to live in the territory.
How to obtain economic citizenship?
Whether you need a second nationality for visa-free travelling or you need a secure place to live and work due to economic and political unrest situations in your territory, you may apply for St Kitts and Nevis economic citizenship, which is listed among a few greatest citizenship plans since 1984. After investing funds, you will gain not only the native rights, but also get the benefit of enjoying visa-free travel to more than 130 countries. Nationality via this route can be obtained either via investing $400,000 or more in a “government approved” real estate, plus government fees or donating $250,000 to the government’s social fund plus government fees.
Here I am sharing reasons that facilitate me to select economic residency programme by St. Kitts and Nevis.
Stability in real estate sector
Somehow the property market manages to remain unaffected with the downfall in the international market. Asset prices don’t show huge fluctuation and drops. In order to buy, buyers are required to pay 50% or more of the total cash price. To further facilitate buyers, banks also offer mortgages up to 25% of the net price. You can purchase any kind of residential property from apartment, villa or luxury condominium.
Visa free travelling
Being a businessman and passionate traveler, this is the most captivating benefit for me. I feel really great after becoming eligible for visa-free entry in the European Union and Western countries with my new passport.
Highest GDP with no tax obligations
If you are an entrepreneur operating setup, you can imagine the benefits of living in the land with the prosperous economy with highest GDP and good income with zero tax obligations. You only need to pay 12% stamp duty while selling real-estate assets.
Excellent connectivity with major destinations
Despite being a small territory located on the west side of the island border of the Caribbean Sea, it is well connected with direct flights to the countries like USA and Canada. This proximity also makes it a stopover for travelers coming from distant continents.
Better asset protection
State authorities will not disclose your asset and bank accounts data and maintain complete privacy for its residents. You can secretly maintain assets and investments made here.
The first language is an international language
You don’t need to take the stress of learning another regional language for becoming the native resident of St. Kitts and Nevis. English is spoken as the first language and officially used throughout the country for documentation as well.
As we all know Dollar is among a few stable currencies, you will be glad to know that Eastern Caribbean Dollar is the official currency here.
Summary: St Kitts and Nevis economic citizenship are fast-track programs that allow you to become a legal resident within 4-6 months without residency requirements.