Sep 08 St Kitts and Nevis Ranks First As The World's Fastest Citizenship by Investment Programme, 2020 CBI Index Finds Prime Minister Dr the Hon. Timothy Harris, Accelerated Application Process, CIU, Citizenship by Investment, St. Kitts and Nevis, Les Khan



BASSETERRE, Saint Kitts and Nevis, Sept. 7, 2020 /CNW/ -- The Federation of St Kitts and Nevis offers one of the best citizenship by investment (CBI) programmes in the world. This is according to a new report issued by Professional Wealth Management magazine, a publication from the Financial Times. St Kitts and Nevis remains the country with the fastest citizenship timeline, providing one of the most certain and family-appealing CBI programmes, particularly in light of its new limited-time offer.

In the 2020 CBI Index, the Federation's CBI Programme ranked number one or joint-first for offering fast and straightforward processing, reliable due diligence, and certainty, with an unrivalled experience of 36 years. It also obtained top marks for not requiring applicants to travel and reside for any minimum period.

The CBI Index discussed St Kitts and Nevis' limited-time offer which allows vetted families of up to four to obtain citizenship for US$150,000 instead of US$195,000 through the fund option. The report recognises the growing importance to investors to be able to obtain citizenship for their families too. St Kitts and Nevis allows future generations of successful applicants to inherit citizenship.

Prime Minister Dr the Hon. Timothy Harris commented: "St Kitts and Nevis is not only a place for investors to thrive in, but also a welcoming home for their children and grandchildren. We have made our streets safer and our rule of law - stronger. We keep investing in education and healthcare. Our economy is resilient even when faced with external shocks like a global pandemic."

Les Khan, the CEO of the St Kitts and Nevis Citizenship by Investment Unit (CIU), said: "We continue to focus on what matters to investors most, while ensuring that we maintain our 'Platinum Standard' brand. Our limited-time offer comes at a time when investors value family safety and security more than ever. That is why we have decided to temporarily allow them to add up to three members of their family for the same amount of contribution as for a single applicant."

Under the Accelerated Application Process feature, investors can obtain citizenship - and their passport, a separate process to CBI - within 60 days. Applicants must first undergo a multi-tiered due diligence process. The CIU introduced a temporary provision, instituted in the context of Covid-19, whereby Authorised Persons - who are mandatory to apply through - may submit applications online. However, the CIU will not issue an approval without receipt of the physical application at a later date.

Once successful, economic citizens earn the right to live, work, and study in St Kitts and Nevis. They can also travel visa-free or with a visa-on-arrival to almost 160 countries and territories, and enjoy all the economic and social benefits as native citizens. To find out more about St Kitts and Nevis' Citizenship by Investment Programme, please visit the CIU website.

Source: https://www.newswire.ca/news-releases/st-kitts-and-nevis-ranks-first-as-the-world-s-fastest-citizenship-by-investment-programme-2020-cbi-index-finds-849203971.html


Aug 05 A small Caribbean nation helped popularize 'citizenship by investment' - now it's counting on it to make up for lost tourism Travel, tourism, activities, scuba, swimming, snorkle, horse back riding, kite surfing, kite boarding, ahead of the game, intoxicating natural beauty, warm waters, white sandy beaches, citizenship by investment, Les Khan, CBI, Dominica, Antigua, Grenada, St. Lucia, Malta, Cyprus, Montenegro, COVID, travel restrictions



St. Kitts & Nevis Leader of Citizenship by investment

St. Kitts and Nevis, like many of its Caribbean peers, is highly dependent on tourism revenue.

But with its borders still closed to foreigners, the small country's pioneering "citizenship by investment" program could prove even more important than it has been in the past three decades.

Usually, revenue from wealthy foreigners shelling out hundreds of thousands of dollars for a second passport from the island accounts for 30% of the GDP gap in the government's budget, according to the CBI program head Les Khan. This year, he says, that could be much higher.

"Now that tourism is at a standstill," he said in an interview, "we expect that the CBI program will be a main driver for the next six months."

Around the world, secondary passports and alternative citizenships have been in high demand from geo-political unrest and the coronavirus, experts tell Business Insider. As more programs come online, Khan is feeling vindicated that the program he's led for three years now is being replicated so far and wide.

"Dominica, Antigua, Grenada, St. Lucia, Malta, Cyprus, Montenegro," he rattles off as examples. "You name it. All of these programs really originated from St. Kitts and Nevis."

Earlier this year, the country dropped its prices, offering a family of four passports for a $150,000 donation, down from $195,000. There are also other more expensive options to make a real-estate purchase that must be held for a set amount of years.

The discount should help keep demand steady, "but we're not in a race to the bottom," Khan said. "We're not trying to just be selling. It must be something that is solid and must be in line with our platinum brand."

It's not a brand that's been easy to build: "There is an idea that citizenship by investment is a conduit for money laundering and possibly tax evasion," says Kahn. "I can assure you that's not the case. Our due diligence is one of the strongest in the world."

But if travel restrictions - like those currently barring people from St. Kitts and Nevis, the United States, and plenty of others from countries around the world - continue, the other side of that brand could be lost, too. The next few months will decide if the country still has one of the most powerful passports in terms of visa-free entry in the region.

"We keep our fingers crossed," Khan said.

Source: https://www.businessinsider.com/st-kitts-and-nevis-citizenship-by-investment-thrives-amid-coronavirus-2020-8


Jul 09 St Kitts' Hotel Development Boom St. Kitts Citizenship by Investment, condos for sale St. Kitts, new developments, Pirate's Cove, Heldens Estate Condo Resort and Residences, Marriott St. Kitts, Park Hyatt, St. Kitts hotel development booming



This may be a relatively small island, but it seems hard to go anywhere here without seeing a new hotel or condominium project popping up.

That's because the Caribbean's smallest sovereign country is undergoing a hotel development boom.

Indeed, the twin-island federation of St Kitts and Nevis is seeing a significant uptick in hotel and resort construction and development, including Kittitian Hill, which will soon open its first hotel and developments like the Pirate's Nest, the Prime Hotel, the Imperial Bay and the planned Koi Resort & Residences.

A Park Hyatt resort is also under development at the Christophe Harbour project on the country's southeastern peninsula, with a targeted opening date of the end of 2015.

That's in addition to a number of hotel renovation projects, including the Royal St Kitts Hotel, which plans to complete its overhaul by 2015, the nearby Frigate Bay Beach Resort and the Ocean Terrace Inn, which launched a renovation project in 2013.

The island's largest hotel, the St Kitts Marriott, completed a two-year, $5.5 million renovation project last year.

St Kitts' cabinet approved another new resort project this week, the Heldens Estate Condo Resort & Residences, which will include more than 200 condos, apartments and villas in the St Paul's parish.

The multimillion-dollar project would include restaurants, bars, tennis courts and swimming pools and could create several hundred jobs, according to Information Minister Nigel Carty.

"The project will provide hundreds of employment opportunities for tradesmen and other local people in the design and construction phase, and will provide many long-term employment opportunities in its operational phase," Carty said in a statement.

Much of the development has been fuelled by the country's Citizenship by Investment programme, which offers the opportunity for citizenship in exchange for different levels of economic and real estate investment. The programme is the oldest of its kind in the world.

Source: http://www.caribjournal.com/2014/07/09/st-kitts-hotel-development-boom/


Feb 14 St. Kitts: The Hot New Immigration Destinations for China's Wealthy St. Kitts Economic Citizenship Program, Citizenship by Investment St. Kitts, comparison of different citizenship programs, St. Kitts popular citizenship choice



Unimpressed with the U.S., shut out of Canada, not deep-pocketed enough for Australia and spooked by Cyprus, mainland China's wealthy are exploring unlikely destinations for immigration, including Portugal and the small Caribbean nation of St. Kitts and Nevis.

Dubai-based Range Developments recently toured China and Hong Kong, seeking investors for its Park Hyatt development in St. Kitts. Range is selling individual $400,000 shares and is quick to highlight the investment's most attractive return: A passport with visa-free access to most of Europe and other former British colonies at no extra cost.

Investors can obtain St. Kitts citizenship - and a passport, along with it - within six months of the investment. And the documents can be had without stepping foot in the country or taking a language proficiency exam, the company boasted at its presentation.

"This is very hot, selling very well," said Jean-Francois Harvey, an immigration lawyer based in Hong Kong and agent for the developer, adding that he's sold shares to "around 200" in mainland China. "It's seen as a business tool for them. To travel without a visa is a very big deal to someone in China."

Real estate investment isn't the only way into St. Kitts. Immigrants can obtain citizenship through a $250,000 donation to the government's Sugar Industry Diversification Fund, a sovereign wealth fund. Some agents recommend the donation route, especially for those who don't have plans to live there. To be sure, St. Kitts represents a sliver of the estimated 10,000 applications filed by Chinese investor-immigrants. The U.S. and Canada are the traditional top destinations, though their appeal has waned lately.

The U.S. EB-5 program, which requires would-be immigrants to put up $500,000 into a qualified business that provides at least 10 jobs, has been marred by a series of lawsuits including a scandal involving a Chicago developer accused of defrauding investors, many of whom were Chinese. Moreover, stringent tax laws scare away China's ultra-high-net-worth individuals from investing.

Canada's main investor immigration program, which required would-be immigrants to post up $800,000 in a zero-interest five-year loan to one of its provincial governments, was temporarily suspended last year.

Meanwhile, the U.K. and Australian programs are deemed expensive and difficult. The U.K. program requires applicants to invest £1 million (US$1.5 million) for a residency visa. Investors have to live in the U.K. at least 75% of the time during a 5-year period to qualify for citizenship.

The Australia program is the priciest, demanding 5 million Australian dollars (US$5.2 million) in investment into a qualified business to qualify for a residency visa. However, it only requires investors to reside 160 days over a four-year period to gain permanent residency.

As Chinese immigrants look elsewhere, unlikely destinations have emerged. Cyprus was a popular destination last year, immigration experts say. To obtain a 3-year visa, which allows access to the entire European Union, Cyprus requires a real estate purchase of at least €300,000 (US$391,320).

"Cyprus was heavily promoted in China and a lot of people went for it," said Denny Ko, an immigration lawyer based in Hong Kong who works with many mainland Chinese clients.

But interest has flagged, due to the country's economic troubles, and some promoters are trying new tactics to drum up interest. According to state-run news agency Xinhua, developers from Cyprus at the Beijing spring properties exhibition were offering two-for-one deals to Chinese investors looking to spend €300,000 on an apartment.

Immigration experts say Portugal is poised to be the next hot European destination.

Larry Wang, president of immigration consultancy firm Well Trend in Beijing, said the Portuguese government hopes to imitate Cyprus' recent success by offering residency visas that can be converted to citizenship in six years. The cost: €500,000.

"There's always a preference for real estate, so programs like this appeal to Chinese," he said, adding that the requirements aren't onerous: Investors have to live in Portugal just 7 days a year to maintain the visa.

Similar to Cyprus, St. Kitts has set an example for neighbouring countries with its program. Antigua and Barbuda are expected to soon implement similar immigration schemes.

"Ninety-nine percent of my clients have never heard of St. Kitts," said Hong Kong's Mr. Ko. "But people look to it for freedom of travel, wealth planning and as a place of citizenship if they're doing a foreign listing of a mainland company."

The ultra-rich with fantasies of rubbing shoulders with Europe's wealthiest are looking to Switzerland and Monaco, which are also seen as safer places for their wealth. To obtain residency there, investors must negotiate with local governments an annual lump sum tax. It's not cheap: Expect to pay at least a €1 million annually to maintain residency.

"This is a prestige destination, for the really, really high net-worth," said Mr. Ko.

Source: http://blogs.wsj.com/chinarealtime/2013/04/18/the-hot-new-immigration-destinations-for-chinas-wealthy/