St Kitts & Nevis has one of the most favorable taxation systems in the world; there are no personal income taxes, inheritance taxes or gift taxes, no dividends or capital gains taxes. There are no taxes except residential and commercial property tax which are respectively at a flat rate of 0.002% and 0.003%. Some of the largest international advisories have established offices in St Kitts to effectively advise you on wealth and asset management as well as tax planning once you become a citizen.
Dual citizenship is permitted and residency is not required as a condition to maintain citizenship. One of the key benefits is that you will never have to physically visit St Kitts to obtain or keep the passport, however citizens are free to reside in St Kitts & Nevis for any length of time they wish.
COVID-19 has made 2020 the best time in years to buy a second passport since various CBI programs have special offers on until the end of the year. The St Kitts-Nevis passport has been reduced by $45,000 for a family of four making the family economic contribution to the country now only $150,000. The donation requirement for a single applicant is $150,000.
A St Kitts & Nevis passport allows for visa-free travel or visa on arrival to over 156 countries, including Russia, Singapore, Hong Kong, the UK and Europe’s Schengen region. St Kitts is also a member of the Commonwealth which allows it’s citizens certain privileges in the United Kingdom.
The visa application process takes an average of 4 to 6 months and has a relatively speedy and hassle-free application and approval process. Applicants do not need to be interviewed and are not required to travel to St Kitts-Nevis at any stage during the application process.