There are a number of different incentives that are offered to anyone who wants to establish a business on the island of St. Kitts which have been established by the Caribbean Corporate Governance Consultancy. There are a number of these incentives that can be found on the Hotel Aids Ordinance, as well as the Fiscal Incentives Act.
It is important to note, that no one can hold or establish any type of financial business in the Federation unless they have first received authorization from the Financial Services regulations, which is governed by the Caribbean Corporate Governance Consultancy.
Establishing Citizenship in St. Kitts and Nevis
The government of the islands of St. Kitts and Nevis have created a program, which is referred to as the Citizenship by Investment Program, to ensure they are able to attract investors of great character to make a monetary contribution for the Federation’s development. The investors can then apply to be a citizen and receive a passport inside of the strict guidelines of the regulations and laws that have been established.
In order to qualify for this Citizenship by Investment program, a person has to make an investment in real estate or to the public charity, the Sugar Industry Diversification Foundation. The total amount of the investment will be dependent on a number of different factors, which includes the total number of dependents being included in the application.
If a person opts for the real estate option, then they will also have to cover the Government fees, which will equate to approximately $35,000 for one applicant and then an additional $15,000 for every single dependent. The real estate that is purchased will not be able to be resold until a period of five years has passed, and when purchased, it will not qualify the buyer for the citizenship program.
The Sugar Industry Diversification Foundation option is a bit different. The amounts that must be given will be determined by the number of people who are being included on an application, and is a fixed amount that does not change.
For those considering citizenship in St. Kitts and Nevis, the programs that have been established offer a number of financial benefits. Learning the information related to this program will help you determine if this is a process that you actually want to go through with.
