The property market in St Kitts and Nevis has received a major boost over the last few years from the twin island nation's Citizenship by Investment Programme. According to Caribbean 360, the week before last, the Prime Minister Dr Denzil Douglas said that St Kitts and Nevis receives approximately 300 applications per year for Economic Citizenship from applicants in countries as diverse as China, the UAE, Russia, India and Singapore. The programme has appeal to high net worth Americans seeking to escape US taxes as much as to wealthy North African and Middle Eastern families looking to escape instability. According to a report by Reuters from February of this year, up to1,500 people are estimated to have obtained passports through the programme, the vast majority during the last 5 years.
The programme has boosted the property market because passports can be obtained either through an investment of $400,000 USD in real estate or a donation of $250,000 USD to the Sugar Industry Diversification Fund. The real estate option requires investing into one of several designated property developments in St Kitts or Nevis.
What exactly makes the St Kitts and Nevis Citizenship by Investment Programme so appealing? Full citizenship offers the benefits of the right to reside in St Kitts and Nevis (or indeed any other CARICOM member country), visa free travel to over 120 countries worldwide (including Canada and the entire European Union) combined with no personal income tax in a safe and secure island. Applicants are also not required to renounce their existing citizenship. According to another Reuters report "Passports... for a Price", several other countries also offer citizenship by investment, including Dominica and Austria. Malta and Croatia are looking at introducing a similar scheme and other countries, such as the UK and Canada are looking at ways to attract wealthy individuals. However, the St Kitts and Nevis programme is the oldest of its kind and has built up a solid reputation.
Of course, St Kitts and Nevis also has far more to offer property buyers beyond a second passport and tax benefits. The islands offer truly friendly people, beautiful beaches, stunning mountains and fascinating historical attractions, including charming old plantation estates, ideal for a short visit or lunch. The islands recently beat the Seychelles, Fiji and Maui to third position in US News's ranking of Best Islands in the World. US News puts this down to the "authentic Caribbean experience" which St Kitts and Nevis offer, including golden-brown sands, ancient fortresses and fried conch.
7th Heaven Properties, the Caribbean property specialists, can introduce you to a very wide range of homes and land for sale in both St Kitts and Nevis. During a recent visit to both islands we visited a number of property developments and were really impressed with the progress. Here is just a small selection of property for sale, all of which are eligible for the Economic Citizenship Programme.
1. Spacious Home Sites for Luxury Villas, St Kitts
|Luxury villas for sale with outstanding sea views, St Kitts|
Located on a high ridge approximately 2.5 miles southeast of Frigate Bay, this private gated community includes 15 home sites, with exceptional, unobstructed views of the sea, the neighbouring islands of Nevis and the hills of St Kitts. Home sites are at least half an acre in size, allowing for spacious properties. Built to a very high standard, with private pools and verandas as standard, buyers can select from pre-designed villa plans or homes can be custom built. Read more about these homes sites for sale in St Kitts.
2. Exceptional Waterfront Home Sites for Sale, St Kitts
|Home sites for sale, St Kitts|
These home sites are part of a 2,500 acre property development which will include a superyacht marina, private beach club, fine dining and an 18 hole championship golf course set more than 500 feet above sea level with 360 degree panoramic views. Beachfront, harbourside and hillside real estate investment opportunities are available. Read more about these waterfront home sites for sale in St Kitts.
3. Eco Luxury Villas for Sale, St Kitts
|Real estate for sale in sustainable, luxury property development, St Kitts|
These villas are located in a 400 acre master planned community of luxury villas, cottages and townhouses, combining luxury living with environmental sustainability. The property development will include an 18 hole championship golf course, spa, bars, restaurants, shops and cinema. Villas come with an electric car for use around the island and at least half of all energy consumed will be generated by renewable sources, including an off-site wind farm and thermal solar water heaters. Read more about these eco luxury villas for sale in St Kitts.
For more information, see our dedicated St Kitts and Nevis property page and the Government of St Kitts and Nevis's Citizenship by Investment Unit website.
Labels: citizenship-by-investment, economic citizenship, Nevis property, Nevis real estate, second passport, St Kitts and Nevis, St Kitts property, St Kitts real estate