CITIZENSHIP BY INVESTMENT IN ST. KITTS AND NEVIS
A Citizenship by Investment Program has been in force in St.Kitts and Nevis since 1984 making the Citizenship by Investment Program of St. Kitts and Nevis the oldest existing Citizenship by Investment Program. It is also the most reputable Citizenship by Investment Program in existence. Also, St. Kitts and Nevis offers a good environment for investors.
- To qualify for Citizenship, the applicants can invest in one of the approved real estate developments, contribute to the Sugar Industry Diversification Foundation (“SIDF”) or make a non-refundable contribution to the Sustainable Growth Fund (SGF).
- Applicants may qualify for citizenship through an investment in a pre-approved real estate project, which may include hotel shares, villas, and condominium units. The minimum real estate investment required by law is US$200,000 (resalable after 7 years) or US$400,000 (resalable after 5 years) for each main applicant.
- Applicants contributing to the Sugar Industry Diversification Foundation (“SIDF”) are required to make a contribution of USD 250,000 for single applicants and a contribution of USD 300,000 for applicants with up to three dependents. The applicant will make an additional contribution of USD 25,000 for each additional dependent, regardless of age.
- Applicants contributing to the Sustainable Growth Fund (SGF) are required to make a contribution of USD 150,000in the case of a single applicant, with an additional contribution of USD 25,000 for a spouse and USD 10,000 for each additional dependent.
- Upon submission of an application, the applicant will pay a non-refundable due diligence and processing fees. 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.
BENEFITS OF THE ST. KITTS AND NEVIS CITIZENSHIP BY INVESTMENT PROGRAM
- St. Kitts and Nevis passport holders enjoy a passport with an excellent reputation and very good visa-free travel to up to 151 countries including Canada, Hong Kong, Switzerland and to the entire EU.
- St. Kitts and Nevis citizens can hold dual citizenship. Holding the passport of two countries will therefore not be an issue for Citizenship by Investment applicants.
- Citizens by Investment and their families enjoy the citizenship rights for life. Citizenship will also be transferred to future generations by descent.
- Citizens by Investment have the right to take up residence in St. Kitts and Nevis as well as in the CARICOM (Caribbean Community) member countries.
- Applicants can join their dependents between 18 and 30 years to their application if the dependent is a full-time student and relies on the applicant financially. The main applicant can also include parents and grandparents over the age of 55 in the application if they live with and are fully financially supported by the main applicant.
CITIZENSHIP BU INVESTMENT IN ST. LUCIA
St. Lucia is an independent Commonwealth State a member of the United Nations, CARICOM, OECS and the Eastern Caribbean Currency Union (ECU), a regional currency (East Caribbean Dollar, XCD) which is pegged to the US Dollar at a rate of 2.70.
Applicants under the Citizenship by Investment program of St.Lucia are required to make notable economic contributions to the economy in exchange for a grant of full citizenship to the applicants and their families subject to a stringent application process and due diligence checks.
- Applicants can invest a minimum of USD 300,000 in an approved real estate development. The applicant must hold the investment for a minimum period of five years.
- Applicants can invest a minimum of USD 3.5 million in anapproved Enterprise project. This investment must create a minimum of three permanent jobs.
- An applicants can make a joint investment of a minimum of USD 6million in an approved Enterprise project; each applicant contributing at least USD 1 million. This investment must create a minimum of six permanent jobs.
- Applicants can make a non-refundable contribution of USD 100,000 (for a single applicant) to the National Economic Fund. Under this heading, the main applicant and spouse shall contribute USD 165,000, the main applicant, spouse and up to two other qualifying dependents shall contribute USD 190,000 and a contribution of USD 25,000 shall be made for each additional qualifying dependent of any age.
- Applicants will make payment of due diligence and government processing fees on all investment options.
- An applicant must be more than 18 years.
- Applicants and their dependents must have entirely clean personal backgrounds and no criminal record.
- Applicants must not be under any criminal investigation except for a minor offence.
- The applicant should not be involved or has been involved in any activity that will likely cause disrepute to St. Lucia.
Application process should take a maximum of three months from the time of submission to the issuance of the St. Lucian Passport if there are no areas of concern with the application.
It is important to note that the main applicant will be required to make the qualifying investment within 60 calendar days after notice has been given of the application’s approval. For the real estate or enterprise project options, the main applicant will be required to pay the government administrative fees due within 60 full days after notice has been given of the application’s approval.
Successful applicants will sign the oath of allegiance before an attorney-at-law; Honorary Consul of Saint Lucia, Consular Officer of Saint Lucia, Notary Royal or Notary Public.
BENEFITS OF THE ST. LUCIA CITIZENSHIP BY INVESTMENT PROGRAM
- The St. Lucian Passport grants holders visa-free travel to 146 countries including Singapore, the UK, Hong Kongand the EU Schengen area.
- The citizenship by Investment program in St. Lucia does not have residence or visitation requirements.
- The citizenship by Investment program in St. Lucia provides a variety of investment options.
- Citizens of St. Lucia can hold dual citizenship. Holding the passport of two countries will therefore not be an issue for Citizenship by Investment applicants.
CITIZENSHIP BY INVESTMENT IN MALTA
In recent years, the Maltese Government has doubled its efforts to attract foreign capital to the country through the use ofattractive incentives. These incentives are targeted at international investors and entrepreneurs who can benefit from the excellent international trade relations, strategic location, highly qualified workforce of Malta.
Malta’s Global Residence Program has introduced a Citizenship-by-Investment route known as the Individual Investor Program (IIP) lead by Identity Malta.
Applicants of the Citizenship by Investment program in Malta will be required to satisfy three financial requirements; a contribution to the National Development and Social Fund, a property transaction and a purchase of stocks/bonds.
- An applicant will be required to make a non-refundable contribution of EUR 650,000 to the National Developmentand Social Fund( for a single applicant)
- Applicants will be required to make an additional contribution of EUR 25,000 for their spouse or childrenunder the age of 18 years.
- Applicants will be required to make an additional contribution of EUR 50,000 for children between the age of 18 to 26 if they are financially reliant on the main applicant and are not married.
- An applicant will be required to make an additional contribution of EUR 50,000 for parents over the age of 55 who are living with and totally reliant on the main applicant.
- In addition to the contribution, applicants are required to purchase stocks/bonds valued at EUR 150,000 to be held for five years. The details of this will be published by the Malta Individual Investor Program Agency (MIIPA)
- Applicants are also required to either purchase a residential property with a minimum value of EUR 150,000 in Malta or lease a residential property with a minimum rental value of EUR 16,000 per annum; both options to be held by the applicant for five years.
- An applicant must be more than 18 years.
- Applicant and their dependents must have entirely clean personal backgrounds and no criminal record.
- Applicants must not be under any criminal investigation or be deemed a potential security or reputational risk to Malta.
- An applicant who have been earlier denied Visa into one of the countries Malta has Visa-free travel agreements with and have not been able to obtain Visa to the country in question since the denial will not be accepted to the Malta Citizenship by Investment Program.
- Applicants must be beneficiaries of a valid global health insurance policy with a minimum of EUR 50,000 cover for each family member.
- Applicants must be resident in Malta for a year before he/she gets the Certificate of Naturalization.
BENEFITS OF THE MALTA CITIZENSHIP BY INVESTMENT PROGRAM
- Maltese passport grants holders the right to live, work and study in any of the 28 EU countries and Switzerland.
- The Maltese Passport grants holders visa-free travel to 182countries including Canada and the EU Schengen area.
- Citizenship of a highly respected EU country.
Citizenship by Investment dates back to 1984 when St. Kitts & Nevis implemented the first official citizenship by investment program. Since then the initiative has evolved and is presently a lot of countries are embracing it.
Targeted at High net worth individuals, these programs grant citizenship and in extension security, business visibility, increased global mobility and also tax optimization in some cases while the countries enjoy increased foreign investment and a boost in their economy. In essence, the Citizenship by Investment Program presents a win-win situation for both the country and the individuals.
For citizens of countries that seemingly have a history of political unrest or economic instability, citizenship by Investment might be an attractive panacea to gain security and a secure future for one’s self and one’s generation.
Questions about obtaining citizenship by investment? Please send an email to Dayo.email@example.com
Written by: Dayo Adu