While the whole world has been under the lockdown for months as a result of the Covid-19 outbreak, more people are realising the benefits of having a second citizenship (Citizenship by Investment) in order to access the safety of a backup country and travel more freely throughout the world.
A growing number of countries offer this option as part of their citizenship or residence by investment programmes. Some countries will only issue a residence permit in exchange for a minor investment. Others provide full citizenship in exchange for a monetary commitment that will be used for national development.
Other considerations include processing time, weather, social safety, economic stability, and a well-functioning healthcare system. These considerations are equally as important as the investment itself, the ease with which it can be shifted, or both. One can ponder if there is a place where, to the best of one’s knowledge, all of the aforementioned factors are portrayed favourably. The great news is that such a country does exist, and it is known as St. Kitts and Nevis.
The two-island federation, which was mostly a sugar-growing location in the past, has grown into a safe and enticing tourist and citizenship destination. The Federation of St Kitts and Nevis has become one of the region’s fastest-growing economies, thanks to its sunny and sandy beaches, good health care, low crime rate, and good national infrastructure.
Since 1984, the nation has invited investors with open arms, running one of the world’s most extensive and well-managed Citizenship by Investment Programs (CBI). Their programme is considered as the “platinum standard” in the global marketplace of citizenship by investment programmes. In most cases, investors are guided through a streamlined application process that enables for full citizenship to be given in as little as 60 days. No other country’s citizenship by investment programme provides such a valuable expedited feature. And the country is praised for its stringent vetting procedures, which ensure a safe and secure environment not just for its existing inhabitants and residents, but also for those who will join them in the coming years.
After making the required financial commitment, the investor and his or her family are granted nationality and granted globally recognised citizenship, allowing their bearers to travel visa-free to over 160 of the world’s 193 countries.
The CBI Index published by the Financial Times’ PWM magazine, in their constant publications of global rankings of all citizenships and national visa requirements, ranked St. Kitts and Nevis’ CBI Programme world’s best of all others in not only the Caribbean and Central America, but in the entire world that offers CBI programmes, with the exception of Barbados, which does not have a Citizenship by Investment Program. According to Les Khan, Head of the St Kitts and Nevis Citizenship Investment Unit, “this respected, impartial global ranking affirms that St. Kitts and Nevis Citizenship is the undisputed best among all Caribbean countries with citizenship-by-investment programmes” (CBIU).
According to CS Global Partners, a global government consultancy and marketing organisation specialising in citizenship by investment, the entire citizenship application procedure for investors in St Kitts and Nevis is swift and simple. The new citizens receive a bundle of happiness with their citizenship within 60 days of making the investment and submitting the citizenship application, and it is currently offering special offers for persons obtaining citizenship by investment under the family application process, which enables the one with the limited-time offer, which ends in 2021, allows families of up to four to obtain citizenship for $150,000 instead of $195,000. “Only those who have gone through a rigorous due diligence process are eligible to make the investment and become citizens.” According to Micha Emmett, CEO of CS Global Partners, “as part of the application procedure, investors may include a wide spectrum of dependants who are family members.”
Investors in the economy of St. Kitts and Nevis now have two financial contribution options:
1. A pre-approved real estate investment, such as the purchase of hotel stock, villas, or condominium units.
a. A minimum investment of $200,000 USD over a seven-year period, or $400,000 USD over a five-year period following acquisition.
a. Non-refundable due diligence and processing fees apply at the time of submission: $7,500 US for the primary applicant and $4,000 US for each dependant over the age of 16.
c. The cost does not include a reasonable required insurance fund payment or conveyance fees.
d. The Marriott Hotel and Residences, Park Hyatt, Koi, Ramada Hotel and Resorts, and Four Seasons are among the Organization of Eastern Caribbean States’ five branded hotels (OECS). There’s also Secret Bay nearby.
2. Contribution to the Fund for Sustainable Growth (SGF).
a. A single candidate must contribute a non-refundable $150,000 USD.
b. Normally, an applicant with three dependents, including a husband and two children, would be required to contribute $195,000 US, but during the epidemic, the amount was reduced to $150,000 US as a limited-time offer that expires at the end of 2021.
c. Any additional dependents, regardless of age, beyond the first three must be added to the donation for a total of $10,000 US.
d. Non-refundable due diligence and processing fees of $7,500 USD for the principal applicant and $4,000 USD for each dependent over the age of 16 must be paid upon submission of the documents for citizenship by investment.
Some Notable Characteristics
There is no requirement for residency or a visit to St Kitts to be eligible for citizenship by investment, according to information. It is one of the most cost-effective options for investors seeking a second passport. It is simple to apply for, and dependents under the age of 30 as well as parents and grandparents over the age of 55 can be included.
Investing in Saint Kitts and Nevis opens up a world of opportunities. Citizenship in that affluent Caribbean nation entitles you to all of the government’s benefits, both inside and outside of the country. It also has a superb Plan B in case of an emergency.
The spread of the most recent COVID strain, Omicron, has demonstrated that the pandemic is far from over. Though the origins of the variant are unknown, it was discovered in South Africa and has since spread to other areas of the world.
While the severity of the crisis has decreased globally as a result of increased vaccination rates and other preventative measures, countries such as the United States, the United Kingdom, and a number of European Union countries have imposed travel restrictions on African countries out of fear of a new mutating variant. African politicians have reacted angrily to the bans, claiming that they do not help the problem and instead harm developing countries’ economies that are already reeling from the pandemic’s effects.
Nationality prejudice is not a new phenomenon in African countries. Even before the pandemic, African passport holders faced harsher controls and visa bureaucracy, making it difficult for Africans to conduct business, access services, and visit loved ones. The COVID-19 epidemic has now been added to the list of obstacles that Africans must overcome in order to traverse borders.
Citizenship by Investment and COVID-19
As a result of the pandemic and the ensuing travel bans, a growing trend of affluent Africans obtaining second citizenship through a popular route known as Citizenship by Investment has evolved. Citizenship and the life-changing benefits that come with it are available to anybody who can make the required investment, which varies depending on the country.
According to Micha Emmett, CEO of CS Global Partners, the world’s top government consultant and marketing agency specialising in Citizenship by Investment, COVID-19 has been one of the most critical concerns of the twenty-first century. “However, for many Africans, this has simply exacerbated pre-existing difficulties.” Second citizenship benefits those who want to position themselves globally without being constrained by their home country.
The Platinum Standard is located on the Caribbean island of St Kitts & Nevis. In recent years, it has attracted wealthy Africans and their families to settle in the country and establish businesses. The programme is one of the most family-friendly on the market, and the Sustainable Growth Fund option is the quickest way to obtain second citizenship. Under a limited-time offer that ends on December 31, 2021, families of four can apply for citizenship for the same amount as a single candidate, saving $45,000.
CS Global Partners, an official government marketing partner of the Citizenship by Investment Programme of St Kitts and Nevis, provides investors with the most up-to-date information about the programme and its benefits.