Saint Kitts & Nevis is internationally recognized as a place where investors, families, and companies can benefit from the citizenship program coordinated by the government. This program requires applicants to purchase real estate on the island or to make a donation of at least $150,000 USD to the Sustainable Growth Fund. While this program greatly benefits its participants, it also helps drive a healthy economic future for the current residents of the country.

What the SGF Funds

When wealthy individuals from around the world donate to the Sustainable Growth Fund to gain citizenship, they are supporting the prosperity of the island because the money in this fund is used to improve the local healthcare, education, and infrastructure on the islands.

As many neighboring countries struggle to deal with the impact of climate change and making the switch to sustainable practices and alternative energy, St. Kitts and Nevis is able to stay ahead of the curve because of the money provided through the Sustainable Growth Fund.

Not only does the fund itself provide money for critical components of the health of the country but bringing in additional businesses and financial capital in the form of new citizens helps ensure economic growth for generations to come.

Mutually Beneficial Citizenship Program

The citizenship program offered by St. Kitts and Nevis has offered benefits to individuals and businesses all over the world, but at its core, it is a strategic plan developed by the country’s government to ensure sustainable prosperity for its people.

When you chart your path to citizenship by contributing to the Sustainable Growth Fund, you’re showing the residents of St. Kitts and Nevis that you care about their future just as much as your own. This mutually beneficial partnership between the country and program applicants can bring prosperity for all.

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Many websites and agencies offering citizenship by investment advertise Saint Kitts & Nevis as an absolute zero-tax country as if it had no taxes at all. This is not entirely correct.

While it is true that citizens and companies in Saint Kitts & Nevis can achieve zero taxation, there are certain things to be aware of. In fact, the country does have certain kinds of taxes which depend on the type of income.

In summary, investors participating in the citizenship by investment program will likely benefit from zero taxation in Saint Kitts & Nevis. However, we believe that it is important that the investor knows when he/she potentially is subject to taxation in the country. This is described in this article.

Businesses and individuals that are connected to St. Kitts and Nevis, whether it be because of business conducted on the islands or through obtaining a St. Kitts and Nevis passport can enjoy many taxation benefits. Before deciding to pursue residency on one of these Caribbean islands or operate your business there, understanding how taxes work is key. We’ll touch on individual taxation, business taxation, and property taxes.

Individual Taxation in St. Kitts and Nevis

When discussing personal taxation, keep in mind that there are two scenarios: tax residents and non-residents are treated differently. Tax residents are people who live on the islands for more than 50% of the year, while non-residents don’t reside in the country. You can be a non-resident even if you hold a Saint Kitts & Nevis citizenship and passport.

To start off, neither residents nor non-residents are required to pay income tax or tax on money that was inherited. However, tax residents are not required to pay taxes on dividends or royalties at all, while non-residents will have to pay taxes on dividends or royalties received from inside Nevis or St. Kitts at a rate of 15%. Anything coming from foreign countries will not be taxed.

Individuals that are employed in St. Kitts and Nevis are required to pay a 5% tax on their wages earned in the country. Please note that this tax is only applicable to local salary, and not to dividends, capital gains, and other types of income.

Taxation for Businesses

If your business is registered in St. Kitts and Nevis or managed from there, it is considered a resident organization and will be taxed as such. Resident companies have an official corporate tax rate of 33%, though there is the possibility to reduce the tax to 1% or pay a fixed annual license fee instead.

Non-resident companies are only required to pay taxes on profits received from inside the country. A withholding tax of 15% is applied if non-resident companies get dividends from inside St. Kitts and Nevis; nothing coming from outside the country will be taxed.

The Basics of Property Taxes

When buying and selling real estate, there are a couple of types of fees that both parties involved in the transaction should be aware of: stamp duty and a license to own land. Stamp duty is paid by the seller of a property, and it has a rate that falls somewhere between 6%-10% of the sale price, with the percentage being dependent on the location of the property. Buyers are required to buy a license to own land and will pay 10% of the value of the property. This rule is not applicable to buyers participating in the St. Kitts and Nevis citizenship program.

Property owners are required to pay land tax and building tax. The rate for both of these items is dependent upon the property itself. The only way to avoid paying property taxes is to be certified as an agricultural, educational, or institutional property.

Tax Haven Reality

It’s no secret that companies and individuals are in favor of many of the taxation policies in place in St. Kitts and Nevis. Usually, setting yourself or your business up to pay taxes in this country will save a significant amount when compared to paying taxes in your home country. In fact, you could easily pay zero income and corporate tax in Saint Kitts & Nevis. As long as you are aware of the rules stated above.

If you need any assistance, we’ll be glad to hear from you.

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Individuals and businesses alike can benefit from banking in St. Kitts and Nevis. The privacy, low cost of transactions, and tax benefits are just a few of the reasons that many entrepreneurs and investors are interested in conducting business through these Caribbean Islands. In order to open a bank account and transact at banking institutions on Nevis or St. Kitts, interested parties will be required to obtain a St. Kitts and Nevis passport, which is a simple process that can be done through investing or purchasing real estate.

Not only is opening an account easy, but the best banks in St. Kitts and Nevis offer impeccable services, a wide array of financial protections, and an online, modernized banking experience. There are many reasons people choose to open bank accounts in St. Kitts and Nevis; the ease of starting out is just one major perk.

Benefits of International Banking in St. Kitts and Nevis

Few countries will protect your money and privacy as fiercely as St. Kitts and Nevis will, making these islands a top option for high net worth individuals that require discretion and top-tier service. Even if you’re not looking for unmatched privacy, then the tax benefits, currency hedging, and ease of use are just a few of the reasons people from all over the world flock to St. Kitts and Nevis to open international bank accounts. Let’s break down some of these benefits:

• Privacy

Some of the most protected and highly secured accounts exist in Nevis and St. Kitts. For wealthy individuals, it’s not uncommon to face mounting pressures to reveal their wealth publicly, however, banks in Nevis and St. Kitts will never disclose your identity or information to external parties. This extends to businesses and corporations as well; the government will protect all those who participate in legitimate business transactions.

• Tax-Haven Status

If you’re able to obtain a St. Kitts and Nevis citizenship, moving your tax residency to these islands, you can avoid paying taxes on income and dividends you receive in other countries. This is a massive benefit to those who can claim tax residency here.

• Currency Protection

Since many banks in St. Kitts and Nevis allow transactions in a variety of currencies, individuals and businesses can hold money in multiple currencies, providing insulation from volatility in specific countries. This is a great way to hedge your portfolio and protect it from being too vulnerable to the health of one country’s economy.

• Economic Stability

St. Kitts and Nevis have maintained strong economic health for decades, largely in part due to the high volume of international business conducted in the area. This helps bank accounts remain protected and stable.

• Ease of International Business

Holding a bank account on Nevis or St. Kitts makes international business a breeze. You can wire funds, move money, transact in multiple currencies, and more, all with the click of a button. Often, other countries may require you to jump through tedious hoops when conducting international business.

It’s easy to open an account in St. Kitts and Nevis, and with your international bank account, you’re able to do business while protecting your investments and information. There’s no reason to wait before getting you and your assets set up in one of the many trustworthy banks on the island.

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Historically, EU citizenships have been highly sought-after by individuals and investors around the world. Not only does an EU citizenship grant its holders visa-free access to a massive number of different countries, but it also provides great investment opportunities, banking benefits, and more. The biggest downside to obtaining citizenship in an EU country is that is is incredibly difficult to do. Depending on the country, the process can take years and require extreme financial investments.

If an EU citizenship is out of reach, but you’re still looking to experience some of the best benefits of being an EU citizen, consider getting a St. Kitts and Nevis citizenship. A Saint Kitts & Nevis passport is a great alternative since it provides access to over 150 countries without needing a visa to enter, including EU Schengen countries and the UK! St. Kitts and Nevis passports are some of the most widely accepted passports in the world, opening doors for individuals, investors, and entrepreneurs.

Application Process

As mentioned, trying to get citizenship in an EU country can require an exorbitant amount of time, with some countries requiring 10-15 years of residency before even considering the possibility of granting citizenship. There are extensive costs associated with meeting residency requirements and applying for citizenship. However, the process for a St. Kitts and Nevis passport only takes a number of months, is incredibly affordable in comparison, and doesn’t have any strict residency or testing requirements.

There are two options for individuals or families seeking a St. Kitts and Nevis passport: a donation of at least $150,000 to the Sustainable Development Fund or through purchasing real estate for $200,000 or more. There are additional processing fees to complete the application process, but they are negligible. 

After deciding which route you’d like to pursue, we recommend working with an agency to get the required documentation in place. As the investor, you and your family members, including children, siblings, and parents, are eligible for a passport, though additional persons may require additional fees. Every individual will need to submit passports, birth certificates, and bank statements when applicable. Once approved, passports can be received within as little as 4 weeks!

Weighing Your Options

It’s worth noting that a St. Kitts and Nevis passport can’t grant all the same benefits as an EU passport. For instance, for many people seeking the quality higher education opportunities in the EU, a socialized healthcare system, or jobs in the EU, a St. Kitts and Nevis passport won’t fulfill your requirements. 

On the other hand, in addition to granting visa-free travel, a St. Kitts and Nevis passport can also grant you and your family access to European financial institutions which can be difficult to utilize for foreigners. There are also wonderful tax optimization opportunities for St. Kitts and Nevis passport holders; as a resident, you will not have to pay tax on gifts, inheritance, capital gains, or dividends. These tax benefits can be more than enough to cover the cost of obtaining the passport.

The Decision is Yours

Passports from St. Kitts and Nevis provide many of the same benefits at a fraction of the cost and in much less time. You won’t have to move your family to a new country or give up the citizenship of your home country.

Furthermore, the St. Kitts & Nevis citizenship comes with attractive tax advantages, which an EU citizenship may not.

To begin enjoying the benefits of a St. Kitts and Nevis passport, work with a reputable agency such as Global Residence Index to begin the application process.

The post Alternative to EU Citizenship? Why you should consider St. Kitts & Nevis appeared first on Global Residence Index.

Whether you’re looking to open a personal bank account or a business bank account, the process for obtaining a bank account in St. Kitts is quite simple. You’ll need to submit a few documents via mail, but the rest of the process can be done entirely online. There are many types of accounts that can be opened, and each account has a plethora of banking capabilities.

Individual Bank Accounts in St. Kitts and Nevis

As an individual, you’ll have access to world-renowned banks such as St. Kitts-Nevis-Anguilla National Bank, The Bank of Nevis, and Hamilton Reserve Bank. These are some of the most reputable banks in the area offering a variety of services. Services available to individuals are vast; accounts can be opened in a foreign currency, for the purpose of remote asset management, brokerage services, and everything in between.

To open an individual banking account with one of the major banks in St. Kitts and Nevis, the required documents are:

• A valid passport and an additional identity document with a photograph
• Verification of the individual’s residential address with a recent utility bill, not more than 3 months old
• Bank statements to prove income and a bank reference letter obtained within the last 3 months
• In some cases, a professional reference letter from a lawyer, doctor, or accountant will be required

Once your documents are prepared, the bank will usually process everything within 10 days. Once approved, transferring the minimum amount required will finalize your bank account and grant access to online banking services.

Business Bank Accounts in St. Kitts and Nevis

Opening a business or corporate account in St. Kitts and Nevis can have financial benefits for your business and the process is fairly simple. In addition to the documents listed above for each signatory and beneficiary, the following will be required for business bank accounts:

• The Certificate of Incorporation for your business, if incorporated OR the business registration certificate
• Bank statements or an alternate form of proof of income
• A letter of recommendation from another bank with which you have conducted business for at least one year
• A letter of recommendation from a professional
• The complete Register of Shareholders and Directors
• Certificate of Good Standing or Certificate of Incumbency

Keep in mind that banks reserve the right to request additional documents during the application process including but not limited to a business plan, invoices, and existing client contracts. If you conduct business in a language other than English, your documents might need to be translated to English.

Become a citizen of Saint Kitts & Nevis

At Global Residence Index, we help our clients open bank accounts, open businesses, and obtain second passports through the Saint Kitts & Nevis citizenship by investment program.

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For how long is a Saint Kitts & Nevis passport valid?

A Saint Kitts & Nevis passport is valid for 10 years. However, passports issued to children under 16 years of age are valid for 5 years. After that, the passports will have to be renewed which can be completed remotely with the help of a consultant such as Global Residence Index.

Upon making a property investment or donation to St. Kitts and Nevis, the applicants that are approved and granted a passport can enjoy its validity for 10 years before it needs to be renewed. Similar to the initial application process, renewing your passport does not require your physical presence; everything can be done remotely. 

Please note: While the passport must be renewed every 10 years, the Saint Kitts & Nevis citizenship is permanent and does not require any renewal. Successful applicants enjoy the benefits indefinitely, but must renew their passports every 10 years, as any other citizen of the country. 

Understanding the necessary requirements for your passport renewal as well as the timeline can help keep any inconveniences at bay. Since most passport holders work with an agency to help coordinate major transactions, such as passport renewals, the process is straightforward for citizens. Here’s everything you need to know when it comes time to renew your St. Kitts and Nevis passport:

Documents Required for Passport Renewal

It can take up to 4 weeks for a renewal or replacement passport to be processed and received by the investor; we recommend gathering the following documents and having them all in order prior to starting the renewal process:

• Citizenship Certificate
• Expired Passport
• Birth Certificate
• Certificate of No Criminal Record
• Passport Photos

If you’re working with an agency, you can submit these documents to that agency, they’ll verify that everything is in place and ready to be submitted to the government, send in your information, and you should have your replacement passport within 4 weeks.

Important Considerations

If you have family members that are recipients of the St. Kitts and Nevis citizenship under your investment, you’ll need to submit the above documents for each individual applicant.

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It might be surprising, but this small Caribbean country offers visitors a number of incredible activities. Sure, there are unreal beaches and warm waters, but St. Kitts & Nevis offers some unique activities. With temperate weather and plenty to explore, you will always be entertained when you’re in St. Kitts & Nevis. Here are 5 of the most recommended activities in St. Kitts & Nevis:

1. Adventure Through the Rainforest

With 42% of the nation covered in rainforest, there is a huge amount of exotic fruit waiting to be devoured and adorable (or not-so-adorable) animals waiting to be seen. Taking a tour with a guide is highly recommended so you can enjoy the experience without having to worry about safety.

There is a popular half-day tour that starts in the capital city, Basseterre, and takes visitors to see natural springs, giant trees, and mischievous monkeys. This tour even includes a visit to the Wingfield Estate which is the oldest industrial site in the Caribbean. 

2. Ride the Sugar Train

What used to be a transport train for sugar on the island, taking it from the fields to the mills, is now one of the most sought-after activities in St. Kitts & Nevis. The train stopped being used for sugar in 1926 and today it is known for showcasing incredible views of the Kittitian countryside.

With open observation cars and drinks included in the price of the ticket, this double-decker train is filled with an experience you will not forget. The ride takes about 3 hours but it goes by quickly, so be sure to grab as many pictures and videos as possible; that way, you will always have something to look back on!

3. Learn About Batik

Visiting Carribelle Batik is a great way to learn about the production process that goes into creating these colorful fabrics. With a workshop and store on the island, Carribelle Batik has been opening a portal to educate visitors on this technique for over 40 years. 

Surrounded by lush gardens and situated in Romney Manor, a historic property in St. Kitts & Nevis where Carribelle Batik is located is worth a visit by itself. Visiting Carribelle Batik is a great way to connect with the history of this country and see how it is still alive today.

4. Find Thrill on a Zip Line

With rainforests, mountains, and beaches at your fingertips all centered on these islands, taking a zipline is one of the best ways to see the sights! Not only is it thrilling, but St. Kitts has some of the longest ziplines in the Caribbean. You are sure to get the most bang for your buck and love every second.

There are shorter lines to start with and you can work your way up to length, adrenaline-pumping lines. If you are traveling with friends or family, be sure to check out the tandem zipline so you can race one another!

5. Enjoy the Beaches

We would be remiss to not mention the beaches. With some of the most iconic black sand beaches and crystal-clear water, dedicating a few days to playing in the ocean is a must! Cockleshell Beach and South Friars Beach are two favorites that are sure to wow. 

If you want some mountain views to go with your beach time, Cockleshell Beach is for you. For history lovers, spending time at South Friar Beach, which used to be an old road that is now submerged, brings quite the thrill.

Your Trip is Yours

The best thing about traveling is that you can choose to do or not do whatever you like. This time in paradise is yours to spend. If you are perfectly content reading books on the beach, then this is the country for you. If you want to explore deep history, tradition, and culture, St. Kitts & Nevis has everything you need. If you would rather seek thrilling adventures such as watersports, mountaineering, and horseback riding, you will not be disappointed.

Obtaining Citizenship by investment in Saint Kitts & Nevis

Interested applicants may consider applying for citizenship by investment in St. Kitts & Nevis. This program requires a real estate investment or a donation, but with the help of our team of expertes, the application itself is simple and quick. Within a matter of months, you can receive your new passport from St. Kitts & Nevis with visa-free access to more than 150 countries worldwide.

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With an economy dependent on tourism and a country that is very accepting of individuals from around the world, visiting St. Kitts & Nevis without a visa is incredibly simple for people from a majority of countries all over the globe. For most visitors, the only time a visa is needed is when the plan is to stay longer than 90 days within a six-month period. In some cases, if visitors are looking to work in the country or conduct business, they may consider citizenship by investment in St. Kitts & Nevis which come with many benefits. 

Below is a list of passport holders that do not need a visa to access Saint Kitts & Nevis:

Obtaining a Visa

If you plan to spend more than three months or conduct business in St. Kitts & Nevis, we recommend securing a visa before your trip. In order to do so, you will need to prepare the following documents, ensuring that each is properly translated to English if necessary:

• Visa application form
• Valid passport
• 2 photos
• Air tickets showing a return flight
• Hotel reservation confirmation 
• Receipt of visa fee payment
• Bank account statement

If approved, the applicant will receive a confirmation from the Ministry of Homeland Security in their email inbox. This confirmation email must be printed and presented when going through immigration control upon arrival.

Obtaining Citizenship from Saint Kitts & Nevis

You may consider applying for the citizenship by investment program offered by St. Kitts & Nevis. This program requires a real estate investment or a donation, but with the help of our team of expertes, the application itself is simple and quick. Within a matter of months, you could hold a St. Kitts & Nevis passport in your hand.

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This island nation, spanning two separate islands, is more than just stunning beaches and tourism. While those are important components of St. Kitts & Nevis, this country is filled with rich history, volcanic rock, and an interesting history. Before you decide to visit – or even move to – this small Caribbean country, we’ll break down everything you need to know about it. Once you step foot in the country, you’ll feel as if you’ve known it your whole life!

St. Kitts & Nevis’s History

On his second voyage in 1493, Christopher Columbus happened upon Saint Kitts, naming it “Saint Christopher” after himself, which was later shortened to “Saint Kitts.” Between 1623 and 1627, settlers from both England and France had inhabited the island, claiming portions of it as colonies of their respective countries. Over the next century, the two countries fought for control of this island, but ultimately, in 1783, the Peace of Paris treaty granted Britain the final ownership.

Nevis, found by Columbus on the same voyage, was given the name meaning “las nieves” or “the snow” because of the clouds floating above Nevis Peak when it was first sighted. It was officially settled by the English in 1628. These two islands, along with Anguilla, became a united nation that was overseen by the United Kingdom. Finally, in 1983, St. Kitts & Nevis became an independent country.

Economic Structure

Until 2005, St. Kitts & Nevis was a global producer of sugar cane. Unfortunately for the island country, the global demand plummeted, forcing a turn to tourism as a way to bring in money. Today, small amounts of exports are still processed, such as material and textiles, but tourism is the main economic driver for St. Kitts & Nevis.

Climate & Land

St. Kitts & Nevis offers a range of natural landscapes to enjoy; visitors can find vast volcanic sand beaches, colorful coral reefs, and tall mountains to climb. It is a nature-lovers paradise, offering a plethora of outdoor activities for a range of interests. Surprising to most, 42% of St. Kitts & Nevis is covered in rainforests. These lush forests are filled with animals, interesting produce, and hidden gems to explore.

Situated in a tropical hurricane area, St. Kitts & Nevis has moderate weather with warm summers and cooler winters, though the temperature range is fairly small. Rainy season is from May to November, with the nation getting an average of 55 inches per rain annually.

People & Culture

The capital, Basseterre, is home to much of the country’s urban population. With 30% of citizens residing in the city and a large majority, 70%, of citizens living in small villages, Basseterre is the economic and industrial hub of the country.

The culture of St. Kitts & Nevis is vibrant, welcoming to outsiders, and full of celebrations. Visitors to either island can experience a range of holiday festivities, dances, masquerades, and more. There’s also a deep influence from the country’s indigenous traditions; ceramics, leather products, and wood products are abundant, keeping alive African practices.

Activities to Enjoy

Whether you plan on visiting St. Kitts & Nevis or settling down to make it a home, you can try your hand at a number of water sports, fishing, or surfing. Since the water is warm and the beaches are breathtaking, it would be a shame to not take advantage of the beach offerings. You can also scuba dive if you’re looking for more adventure or simply bask in the sun on a yacht to relax.

If the beach is not your favorite activity, you can pass hours exploring the rainforest or climbing a mountain. If the outdoors, in general, miss the mark, enjoy some time in the city center or spend your days eating traditional dishes.

Getting to St. Kitts & Nevis

Fairly easy to get to by plane, the country has two large airports that can be reached by the US, United Kingdom, Canada, India, and much of Europe. Without a flight, you can hop on a cruise and take the long way to St. Kitts & Nevis, enjoying every sight along the way. Once you have arrived, you will notice that most transportation is via buses, taxis, cars, scooters, and bicycles. For more information, please check our article about traveling to Saint Kitts & Nevis.

Hooked? Explore Citizenship 

Every visitor’s favorite part about this wonderful island nation is that being able to call it home is not far out of reach. St. Kitts & Nevis has one of the oldest and most efficient investment programs for foreigners to obtain Saint Kitts & Nevis citizenship by investment. You can choose to purchase real estate or submit a donation in order to become citizens of the country. When citizenship is granted, you can visit as often as you would like, relocate to the island, and experience some of the many perks of holding a St. Kitts & Nevis passport.

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Heading to St. Kitts & Nevis is easy any time of year. Due to its temperate climate and perpetual beach weather, visitors flock to the island oasis every month and every season. It is not difficult to get to, with many major airlines traveling to it regularly, and it is also easy to move between the two islands once you have arrived.

Flying to St. Kitts & Nevis

On St. Kitts, the Robert Llewellyn Bradshaw International Airport is located just outside the capital city, Basseterre. Flights come in daily from the United States and the United Kingdom, making it easy for visitors to plan their trip during whatever dates they choose. There are numerous nonstop flights coming from these countries and other countries in Europe. 

For smaller aircraft and private planes, Nevis has an airport called the Vance W Armory International Airport (NEV). This airport cannot accommodate commercial flights, so you will likely fly directly to St. Kitts.

Airline & Flight Info

Major airports such as American Airlines, United, Delta, and Iberia all fly regularly to the airport on St. Kitts. The flight takes 4 hours nonstop from New York, 3 hours from Miami, and 7 hours from Chicago. A whole new country is just a few hours away!

Once You Have Arrived

Getting to the island is the hardest part; once you are there, you can kick back, relax, and enjoy your trip. If you need to move between the two islands, hopping on a quick water taxi is the best (and only) way to do so.

Since St. Kitts is home to the largest city in the country, that is where you will find more of the hustle and bustle. Nevis is quieter, beautiful, and will showcase to you exactly what you came for: paradise.

If you are interested in moving to Saint Kitts & Nevis, you may check out our Saint Kitts & Nevis Citizenship service.

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