Darinka Aleksic
A citizen of a nation can enjoy certain rights and privileges in their host nation. For instance, most nations allow only citizens to apply for government jobs or to vote in elections. So it is no wonder that most people wish to become native to places that offer great benefits for their citizens.
St Kitts and Nevis is an island nation in the Caribbean Sea that offers great tax rebates and Visa-free entry to other countries for its nationals. So many people wish to get citizenship by investment in the island nation of St Kitts and Nevis.
The Requirements For Becoming A Native Of The Caribbean Islands Nations
You Have To Invest In The Country
Obtaining the passport of a country by investing in the country’s growth is the most popular route adopted by people all over the world. Many nations like the UK and UAE allow people to become natives by making investments. St Kitts and Nevis also allow investments that can be broadly classified into two types.
A person can invest in their non-refundable government fund. This fund, as the name suggests, is a contribution to the government, and they can use it for the development of the nation. Moreover, this fund is non-refundable, which means that it is more like a donation than an investment.
So if you give money for such funds, you neither get your money back nor any profit from your money. You only get the citizenship. An example of a non-refundable fund is the sustainable growth fund or the SGF. The money deposited here is used to promote the environment-friendly growth of the economy. The minimum to be invested in the SGF is 150000 US dollars.
Another way of investing is buying real estate in the island nations. If you choose this route, then you are definitely investing your money and you are very likely to get a good return on your investment. Good returns are likely since the value of real estate hardly ever declines.
The minimum amount to be deposited for the real estate sector is 200000 US dollars. However, this amount is applicable if a single person is applying. If you wish to apply with your spouse and your minor children, then the minimum deposit value will be higher.
At present, the processing time for both types of funds is three months. However, if you wish to hasten the process, you can pay an extra fee to get the approval via an accelerated application process.
There Is A Minimum Age Requirement
If you wish to apply for citizenship to the island nation of St Kitts and Nevis, you have to be at least eighteen years of age.
However, this does not mean that your kids cannot accompany you if you wish to settle in St Kitts. Young children can travel and get citizenship, but they cannot be the primary applicant. They can only apply to the family of a person who is legally an adult.
You Have To Furnish Papers To Show Your Ability To Pay
If your eligibility for getting the passport of a particular person is dependent on your ability to invest, then your financial stability is crucial. So when applying for a citizenship by investment program, you have to show documents that reflect your ability to pay. So you may have to submit bank statements, documents that prove no past financial default etc., to make your application stronger.
Your Background Must Be Free Of Any Criminal Charge
Most nations will do a thorough background check when a person applies for citizenship. So before you apply, you must ensure that there are no pending criminal charges against you in your home country.
You Need Not Have A Minimum Residence Period
Most Nations have a minimum residence period that a person must spend in a country before they can apply for a passport from that country. But the island nations of the Caribbean are an exception, and in this case, there is no minimum residency period.
Always remember if your paperwork is done properly, the chances of delays or rejections will get minimized. So try to submit updated papers and fill in the correct information so that the process of obtaining a new passport is smooth and fast.
What Are The Advantages Of Being A Citizen Of St Kitts
Highly Favorable Tax Laws
The tax laws in the Caribbean islands are not very strict, and this is one of the major reasons why many high-net-worth individuals want to get citizenship in these nations.
There is no wealth tax, no estate tax and no personal income tax in St Kitts and Nevis.
Easy Access To Multiple Nations
More than a hundred and forty nations of the world, including powerful economies like Singapore and Britain, allow Visa-free entry to the citizens of St Kitts and Nevis.
Many people want to be a citizen of St Kitts so that they can easily travel to countries of Europe ( Schengen) and the UK.
Citizenship By Descent For Future Generations
Once you have a passport of St Kitts, all your descendants, by default, become eligible for becoming citizens of St Kitts.
Ability To Hold Dual Citizenship
Many countries of the world automatically cancel citizenship when a person acquires another passport, but St Kitts and Nevis allows dual citizenship. So you need not renounce your native citizenship and still hold a second passport from St Kitts and Nevis.
Conclusion
In many developed countries of the world, like the US and the UK, getting citizenship is a complicated process. Some nations have a lottery system for awarding citizenship status; some have long minimum residency periods etc. All this makes sure that the applicant has to wait for a long time for his citizenship papers to get processed.
At times despite submitting all the papers, the application is rejected. On the other hand, the application process for getting a passport from St Kitts is quite simple, and the waiting periods are also quite less.
