Of all of the places to choose to live or work, why choose St. Kitts and Nevis for citizenship by investment in real estate? Here are ten reasons why St Kitts Citizenship by Investment in real estate make a lot of sense.
- St Kitts Real Estate Stability: Properties have done very well in the Federation. Real estate in St.Kitts and Nevis did not experience the huge drops that were experienced in most of the States in the a few years ago. One of the reasons for this is the local banks in the Federation have required in most cases at least 25% down to qualify for a mortgage and most people in the resort areas pay cash or put down 50% or more. Very few people walk default on their property mortgage.
- Land Prices: Of the English speaking countries in the Caribbean, St.Kitts real estate and Dominica real estate have on average the cheapest land prices per square foot. To give you an example of the real estate prices that surround St.Kitts and Nevis, I can look out to the left of my deck where I live and I can see the Island of St.Barts on a clear day where ocean view [not ocean front] lots up high sell for 800 USD per square foot, whereas that same view in StKitts can be had for 6 USD per square foot. Sounds unbelievable! St.Kitts is one of the few Caribbean Islands other than St.Barts where the property planning has been done correctly. From Frigate Bay to the south end of St.Kitts, there is nothing but breathtaking views. This stretch of about seven miles of undeveloped property is planned for nothing but five-star resort type real estate that will, in my opinion, take the prices up considerably. A lot of these property developments offer St Kitts Citizenship by Investment in real estate when your purchase there.
- It holds more benefits than a Dominican Passport: The big advantage using the St Kitts Citizenship by Investment in real estate program is that using a St.Kitts and Nevis Passport over a passport from Dominica is you can travel to a lot more countries visa-free with a St.Kitts and Nevis Passport. Also, if you decide to move and work in St.Kitts or Nevis, you pay no income taxes in St.Kitts for local income earned in the Federation, whereas Dominica does have a local income tax. St.Kitts and Nevis has one of the highest GDP’s per capita of any of the islands in the Caribbean and Dominica has one of the lowest. This translates usually into more money for you if you decide one day to pick up your belongings and move to St.Kitts or Nevis to set up your own local business. You will have more people with disposable income to buy your products or services. St.Kitts is also a lot easier to get direct flights to from the USA and Canada than Dominica. The privacy and asset protection laws are also a lot better in St.Kitts and Nevis vs. Dominica.
- Opening bank accounts offshore or outside of the USA is a lot easier with a 2nd passport: If you have never opened a bank account outside the USA before, you will find out it can be a headache trying to do it with your U.S. Passport. Not so with a St Kitts Citizenship by Investment in real estate Passport. Some countries have even stopped taking U.S. citizens as clients, even if you no longer reside in the USA.
- Taxation: There is no income tax, capital gains, inheritance or estate taxes in St. Kitts and Nevis. Taxes are generated from import duties, stamp duties and a VAT. There is a 12% stamp duty only when you sell your property, but it has been found that this 12% actually enhances the rate of return on the property because everyone just adds this stamp duty to the sale of their property.
- Quality of Life: Bike, swim, hike and jog 365 days a year with no cold rains or snow and where the pollution index is close to zero.
- Stable Currency: The Federation uses the Eastern Caribbean Dollar which is pegged to the USD. $ 1.00 USD = 2.70 ECD.
- English Language: Living and working in a country where English is not the main language just delays and makes everything take longer to do. Simple things can take five times longer to get done. St. Kitts and Nevis uses English as it first language.
- St Kitts Citizenship by Investment in real estate comes easily here: Contrast with Panama – your right to set up a business of any kind after the required educational requirements in a place like Panama is a breeze if you are a citizen – but it will take you at least six years to get there if you are not a citizen. There are no guarantees you will get the Panamanian passport and citizenship after the years of Permanent Residency. You will also have to take a Panamanian History Test in Spanish to get Panamanian Citizenship.Panama also requires that lucrative fields like owning a real estate company or an insurance marketing company could only be owned by a citizen. Permanent Residents could not own these types of businesses. This is why it is critical when moving to a new country that if you don’t want the government restricting you from setting up a business, become a citizen right away. In St. Kitts, you can get the citizenship approval in as quick as 2-4 months.
- Getting a second passport via the St Kitts Citizenship by Investment in real estate program is just smart insurance: You never know when your country will turn on you and revoke your passport. Talk to a holocaust survivor and you might find out that a second passport saved their families’ lives.
Jamie Alleyne and her team have a combined 15 years of experience in citizenship by investment, residency, real estate, and offshore companies in the Eastern Caribbean – from Dominica to St Kitts Nevis. She specializes in the St Kitts and Nevis Citizenship by Investment as well as the Dominica Citizenship by Investment Programs. They are well known for their love of the islands, excellent connections, and knack for for making things happen. You can contact her here.