St Kitts is one of the most amazing Caribbean islands. The natural beauty of this place does not leave anyone indifferent, so it is not surprising that it is an increasingly popular tourist destination. Nowadays, there are more and more people who are interested in citizenship in this country, which is useful for many reasons. Read below when it’s the right time to think in that direction.
When is the right time for investments?
The right time for investments is when you have enough money in your savings account to live for at least six months without any income. Investing is a great investment for your future. You can earn more money on your money, which can give you peace of mind in case something happens in the future, such as a job loss or unexpected expenses. Investing can also help you save for a new property or car, or a trip.
1. You want to travel
If you are a travel enthusiast, having a St Kitts passport will surely make you happy because you will be able to travel to over 150 countries without a visa.
2. You have “extra money”
What do we mean by this? We are thinking of investing in a business or real estate on this island in order to exercise the right to their citizenship, which can be obtained through a program known as Citizenship by investment. In order to meet the requirements to apply for citizenship through this program, it is necessary to invest $150,000. You can find more about it if you visit https://imperiallegal.com/media/articles/benefits-st-kitts-nevis-citizenship.
3. You are willing to earn more
There is a saying that says that those who don’t invest, don’t make a profit either. There is always a potential risk when it comes to investing, of course, but you will never know if you never try. Having in mind St Kitts is constantly developing and more and more tourists visit this place every year, many investors are sure they made the right move. More tourists means, of course, more chances to earn.
4. You need some place for relaxing
The best thing about investing in exotic places is that you will have your peace of heaven whenever you want. St Kitts is very affordable, not over-crowded and there is no doubt you will enjoy it. In other words, you can buy a flat for rent but also use it for private purposes when you want that!
Benefits for the rest of the family
The good thing about Citizenship by investment is that you can apply not only for you but for the whole family. Since you have to allocate $150.000 for yourself, for every additional family member you will have to invest an additional $10.000.
Fast procedure
Applying for Citizenship by investment in St Kitts is perfect for all people who want to extend or start a new business but don’t want to wait too long for the procedure to be finished. It is important to emphasize that you have to find a respectable legal firm that will apply for you. In that way, the procedure will be shorter because potential investors are instructed about the documentation they have to prepare. All in all, the procedure will not take more than 45-60 days.
Do I have to be there to apply?
The best thing is that once when you get approval for passports, you will not have to come to St Kitt’s personally to pick them up because they will be sent to your address.
Investing in out of season
Even though St Kitts and Nevis have a tropical climate, which means that the weather is sunny and warm all year, it is always good advice to invest out of the season. The period between is considered to be a peak of the season so prices can get higher even up to 20-50%. The best time for investing is June, there are fewer tourists and the weather is still perfect.
One important thing – tax benefits
This is one of the greatest reasons why many people all around the world are interested to invest here – there is no income tax, no gift taxes, and property taxes are very low. Since the tourism sector is well-developed, it is a good chance to profit for all international companies registered here.
Requirements for investors
Though the government is doing its best to attract as many investors as possible in order to invest the money in infrastructure, potential investors will be happy to know there are not any special requirements to fulfill except being over 18, and not having a criminal or immigration record, be of good health, and, of course, have enough money for investing.
One of the very good possibilities for attracting new investments and strengthening the domestic economy are solutions that have proven themselves very well in the economy, namely the so-called economic passports. In other words, states have the right to amend the Law on Citizenship to prescribe special conditions for investors to acquire their citizenship. Attracting investors with this method, it enables the filling of the budget, as well as the development of started and future investments.
Of great importance for the economic growth of all countries, especially developing countries such as this island, are foreign investments, which played a significant role in the structural changes in export production in the countries that benefit from these funds. It is also important to understand the business logic of foreign investments, as well as the impact these investments have on the growth of the gross domestic product, and the development of the domestic economy, and society as a whole. Attracting foreign direct investments is a very significant factor, due to the high unemployment that occurred after privatization and the large unused areas of natural resources.
There are data that more than 2/3 of foreign investors are extremely satisfied with the achievement of their investment goals in St Kitts, which is one of the very significant arguments, promoters to motivate potential investors to invest in the country.
Nicola Holder