With its charming nature, crystal-clear waters and majestic mountains, Saint Kitts and Nevis has always been a magnet for tourists. These are by far not the only reasons to consider obtaining St Kitts citizenship and a local golden passport to reside in the jurisdiction on a permanent basis. These are not only citizenship by real estate investment and donation opportunities that potential CIP applicants may use to acquire their St Kitts citizenship. The Caribbean state has announced a brand-new way to acquire St Kitts citizenship under the St Kitts and Nevis Citizenship by Investment Program known as the Alternative Investment Option.
The new Alternative Investment Option (a.k.a. AIO) encompasses nationally significant initiatives, making infrastructure development and improvement, local employment promotion, resource management, and sustainable housing projects available to the common population. While private companies capable of partially financing the above initiatives can come up with such projects, the possibility exists the government may select them as Alternative Investment Options after they have been deemed feasible. The said development projects can be either privately or publicly owned, with the developer or the St Kitts government holding title thereto.
The Alternative Investment Option (AIO) is a third available option under the Saint Kitts and Nevis citizenship by investment program. With its goal of supplying the St Kitts government with funds to secure capital investment through pre-selected infrastructure projects, the Alternative Investment Option is an effective St Kitts investment instrument.
The Alternative Investment Option will be subdivided into 2 categories:
- Public Good Project Developer (a.k.a. PGPD) to encompass projects 100% financed by PGPDs. With the project completed, the government will remain the asset holder and maintain title thereto.
- Private Enterprise Developer (a.k.a. PED) to include privately held completed facilities or financed assets.
Modern trends on Saint Kitts and Nevis real estate market
CBI-related development project investments and property sales remain the primary trend on the St Kitts and Nevis real estate market. With successful CBI Alternative Investment Option Program launch, the upward trend persists.
As provided for under the Alternative Investment Option scheme, the Public Good Project Developer (a.k.a. PGPD) will build properties to be owned by the state after the construction has been completed. The project is 100% PGPD-financed. The scheme was employed to finance the much-needed new St Kitts correction facility construction. The Middle Income Housing Initiative is another Alternative Investment Option project. The CBI investments thereunder will be used to finance available housing development.
With its investment flexibility, the Alternative Investment Option scheme has been designed to qualify multiple projects meeting the federal government requirements as investments under the CBI program. Where the developer disposes of any projects in line with the above requirements, such projects shall be reported to the St Kitts Investment Promotion Agency (SKIPA). The latter will then take them before the St Kitts Cabinet.
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Middle income housing
The Middle Income Housing initiative was among the first projects approved under the Alternative Investment Option scheme. The project’s author was Mr. Deon Daniel, a renowned businessman in St Kitts.
Young families and locals lack quality housing in St Kitts. This is a big issue, as bank financing is challenging for them to obtain.
The project comes with an offer to build 180 houses within 7 years. The latter are to comprise 1-, 2-, and 3-bedroom turnkey apartments. The houses will be built on prime lands inside St Kitts rural areas. Fully furnished and equipped, they will offer everything necessary to live a comfortable life on the island. Potential dwellers are welcome to purchase their would-be properties under either rent-to-own, subsidized mortgage, or classic rental scheme.
The project to be considered comprises modern housing. The properties therein are a great addition to the breathtaking Caribbean landscapes. Not only will future residents enjoy an opportunity to live amidst the tranquil countryside but also win a chance to benefit from high living standards. The project comprises several public spaces, with a grill area, a kitchen, a gazebo, a playground, and a small local store among them.
Financed investment option
The financed investment option is another opportunity for you to acquire second citizenship in St Kitts at an affordable price. To close a financing deal, the investor shall sign a Pledge Agreement. The latter provides for an opportunity to use share certificates as a loan collateral. After 7 years, you are free to repay the principal and obtain the developer’s preferred share or cancel your share certificate altogether with no subsequent liabilities. Your investment income will cover the loan interest.
Requirements as to real estate investment documents
The list of documents to prepare for potential St Kitts CBI applicants is long enough for you to collect the necessary paperwork on your own. It is important that you get accomplished industry pros on board boasting proven CBI application filing history.
With the International Wealth team assistance, your experience with applying for the necessary CBI documents is guaranteed to be smooth and issue-free. We found that the procedure would take much longer and cost you a great deal more with misfiled documents. After you have fulfilled all the requirements, you will receive supporting evidence to complete the procedures.
The required documents shall be apostilled and submitted in English. This is something the International Wealth team will gladly assist you with.
It will take you 3 to 4 months to acquire St Kitts citizenship by investment. The International Wealth team will back you up with preparing and gathering the documents and filing a CBI application with the St Kitts Citizenship by Investment Unit.
It is possible to expedite your application for a St Kitts passport provided you are ready to pay extra. The procedure will take 60 days in this case.
Assisted by the International Wealth weathered investment immigration pros, you are guaranteed to do everything by the book. Should any issues arise, please, contact our consultants at info@offshore-pro.info.
