Your Own Second
Passport
Buy
Oceanfront Property In This Tropical Paradise… And You’re Eligible For
Immediate Citizenship And A Passport!
by Christian
H. Kälin And Vernon S. Veira
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Note: What’s so special about international real estate? A dwelling in
the right offshore jurisdiction not only offers the potential for profit,
but also offers you a safe alternative if things go bad at home. Since
real estate you own offshore will never show up in a domestic asset search,
it also provides practical privacy and asset protection advantages.
If these rewards
aren’t compelling enough, in one of the Caribbean’s most beautiful jurisdictions—St.
Kitts & Nevis—when you purchase qualifying real estate, you’re eligible
for a remarkable—and almost instant—benefit: an alternative citizenship
and passport.
A passport
from a peaceful, neutral and non-controversial country such as St. Kitts
& Nevis carries many benefits. It lets you travel more freely and discreetly;
protect yourself and your affairs from privacy invaders; and, in some cases,
even provides tax advantages. And if you’re ever in the hands of someone
with a grudge against your home nation, being able to present yourself
as a citizen of another country may even save your life.
Ordinarily,
unless you qualify for a second passport because of family ties or marriage,
the only way to obtain one is after a period of extended residence in another
country. St. Kitts & Nevis is a very rare exception. Christian Kälin,
a member of The Sovereign Society Council of Experts and a leading authority
on tax-advantaged residency and citizenship law of key jurisdictions, and
his St. Kitts-based colleague, Vernon S. Veira, explain.)
St. Kitts
& Nevis
Source: http://www.odci.gov/cia/publications/factbook/geos/sc.html
Here’s a way to combine two great offshore benefits into one very appealing
package: international real estate investing and a second passport. Both
come from a stunningly beautiful and peaceful Caribbean tropical paradise—St.
Kitts & Nevis.
These two sister
islands form a federation that has been independent from Great Britain
since 1983. Located about 1,400 miles southeast of Miami, world travelers
often describe them as a corner of the South Pacific in the Caribbean.
Densely forested mountains, waterfalls, brilliant tropical flowers and
crystal-clear waters abound. The truly appropriate motto of the local tourism
authority is: Two Islands–One Paradise. |
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 The
Sovereign Society, headquartered in Waterford, Ireland, was founded in
1998 to provide proven legal strategies for individuals to protect their
wealth and privacy, lower their taxes and to help improve their personal
freedom and liberty. |
| The
Society's highly qualified contacts recommend only carefully chosen banks
and investment advisors as well as financial and legal professionals located
in select tax and asset haven jurisdictions around the world. The Society
provides advice concerning the establishement and operation of offshore
bank accounts, asset protection trusts, international business corporations
(IBCs), private foundations, second citizenships and foreign residency,
as well as practical safeguards for financial, Internet and personal privacy. |
| The
Sovereign Society stands alone in fulfilling this singular, international
offshore service role for its members. To learn more about our organization
and how you too can become a member, please click
here. |
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Investments
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These
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Yet
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of wealth for their families |
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The
World’s Leading Citizenship-By-Investment Program
Since 1984,
the St. Kitts & Nevis Citizenship Act has allowed foreign investors
who acquire qualifying real estate to obtain citizenship and a passport.
This makes it the oldest existing citizenship-by-investment program. To
apply for citizenship, you must invest a minimum of US$250,000 in real
estate. In addition, government fees of US$35,000 or more apply, depending
on the number of applicants. But this is hardly a sacrifice, because St.
Kitts & Nevis has some of the Caribbean’s most stunning beaches…and
some beautiful real estate developments, with prices steadily rising in
recent years.
From its inception,
the St. Kitts & Nevis economic citizenship program has been one of
the most expensive. But it is also one of the only two programs that remain
in existence (the other being Dominica). Most of the discontinued programs
have been shut down because of scandal, resulting in a diminished reputation
for the passports of the issuing countries.
However, the
St. Kitts & Nevis program has always been operated to the highest standards.
It has never been easy to qualify—all applicants must undergo a thorough
background check—and the relatively high cost of the program means that
only a small number of passports have been issued. Among other requirements,
applicants must provide bank references and letters of recommendation and
demonstrate a clean police record (extract from the register of criminal
convictions) of their home country. |
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The result
is that the St. Kitts & Nevis passport remains a highly respected travel
document, permitting visa-free travel to more than 90 countries, including
the United Kingdom, Canada, Switzerland and many others. The passport issued
as a result of economic citizenship is the same as for all other citizens.
Indeed there is no difference in the citizenship status whatsoever.
As a citizen
of St. Kitts & Nevis, you can live and work in the islands anytime,
although there is no obligation to do so. You also enjoy special rights
and privileges in the United Kingdom. You are not liable to taxation in
St. Kitts & Nevis as there is no income tax, capital gains tax, wealth
tax or inheritance tax!
The whole procedure—from
submitting the application up to the issue of the citizenship certificate
and passport—takes about three months. You don’t need to travel to St.
Kitts & Nevis for this purpose, but we highly recommend that you do
so that you may personally choose the property you would like to invest
in.
Your real estate
purchase is contingent upon approval of the citizenship application, and
all monies are kept in an escrow account pending approval. If the government
doesn’t grant you citizenship, you’ll receive a refund of all monies except
a small portion for due diligence fees.
Buying Real
Estate In Paradise
While real
estate in St. Kitts & Nevis is not inexpensive, prices are quite reasonable
in contrast to the price of oceanfront property on the U.S. coast or on
comparable Caribbean islands. While the minimum investment is US$250,000,
you should expect to spend at least US$300,000 for a quality-built single-family
home in a well-tended residential estate. For about US$400,000, you can
purchase a substantial villa with its own swimming pool.
In addition
to these costs, you should budget about another 9% to cover real-estate
transfer taxes, conveyance fees and title insurance. Furnishing your home
will be an additional expense. However, you can import all furniture and
fittings duty-free.
While there
are no personal taxes in St. Kitts & Nevis, there is an annual 5% tax
on the rental value of property based on an assessment of its annual rental
value. This tax rarely exceeds US$1,000/year, and if you do rent out the
property, your actual rental income is tax-free.
Not all real
estate in St. Kitts & Nevis is considered a qualifying investment for
purposes of acquiring economic citizenship. You must purchase real estate
in developments that possess a corresponding special authorization issued
by the government. However, practically all projects desirable to foreign
investors have this authorization.1
For More
Information
| In
an unsettled world, acquiring real estate outside your home country, along
with an alternative citizenship and passport, is a wise investment in your
personal security, freedom and privacy. It also returns countless other
benefits for life.
If you’re interested
in learning more about the St. Kitts & Nevis citizenship through real
estate investment program, contact: Henley & Partners, P.O. Box 481,
3 Church Street Basseterre, St. Kitts West Indies Tel.: +1 (869) 465-1711
Fax: +1 (869) 465-1004
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