St Kitts & Nevis real estate investment programme
Buying a property on St. Kitts and Nevis is another investment option under the Citizenship by Investment programme, and many people choose St. Kitts and Nevis because of its tropical climate, lush beaches, easy transport links, and most of all because its real estate market is less expensive than most Caribbean islands.
Investment in real estate
Real estate buyers must invest only in pre-approved properties which are listed on the Citizenship by Investment Unit website. Properties favoured by investors are villas, apartments or shares in the hotels. Besides, some of the developments, such as Park Hayat hotel, have been partly financed through the CBI programme. This way the Government can channel the money to where they think best.
To qualify for citizenship under the real estate option, the Government requires a minimum of $200,000 or $400,000 investment plus payment of applicable taxes, various registration and other fees. The real estate can only be sold, and investment recovered, after 7 or 5 years of getting citizenship correspondingly.
Investment and fees
|Required Investment||Due Diligence||Government Fees|
|Main Applicant||$200,000, or
|Each dependant||$0||$0 (under 16)
+$4,000 (over 16)
irrespective of age
- Land Titles Assurance Fund – in average 0.2% of the purchase amount.
- Certification of documents – around 2.5% in legal fees.
- Land plot plan – around $300.
- Stamp duty 12% of the contract value.
Alien land holding licence 10% of the market value of property.
- Main applicant should be at least 18 years old.
- Applicants over 16 must pass Due Diligence process.
- Applicants should have no previous criminal record and be of good character.
- Main applicant must provide references from the bank.
Eligibility of Dependents
- Unmarried dependent children who are older than 18 but younger than 30, if they are full-time students and financially reliant on the main applicant.
- Dependent parents or grandparents aged 55 or above living with and fully supported by the main applicant.
Accelerated Application Process
60 day Accelerated Application Process (AAP) option is available, subject to $25,000 per main applicant and $20,000 per dependent over 16, and includes passport application and processing. Additional $500 is charged for each dependent under 16 for passport application and processing. Some applications are processed within 45 days under AAP. Government fees and other charges are not included in the above.
What you need to do
Once you decide to apply for a St. Kitts and Nevis passport through acquisition of real estate and talk to us about your situation, we shall proceed as follows:
- You sign an agreement and power of attorney for representation of your interests under the programme.
- We fill in the forms, gather and prepare paperwork and documents.
- We search for and select a property and sign a preliminary Purchase Agreement.
- Submission of application to the Citizenship by Investment Unit.
- Due diligence checks and processing of application by the government.
- Approval of the application in principle.
- You finalise the purchase of the property and provide a Purchase Agreement.
- You pay Government fees.
- You are issued with the registration certificate.
- We apply for passport.
- Passport is issued.
Investments in real estate boost economy and encourage the state to improve the infrastructure, tourism, services and other sectors.
The Four Seasons Resort built in 1991 was the first luxury development that ‘put Nevis on the map’ and attracted the well-to-do. The hurricanes of 1998 and 1999 caused a big slowdown in the economy overall, including tourism. In 2005, the Government launched its economic diversification plan in its attempt to move from a monocultural economy, and the focus shifted to the high-end market. They started building more luxury hotels and accommodations, e.g. Marriott Hotel, and the property prices and sales have since then skyrocketed. They slowed down a bit in recent years due to the global crisis but are still on the rise.
Apart from facilitating new luxury builds, economic development has also helped the Government to solve housing problems for its poor people living on the islands by building affordable homes and offering better loan rates.