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Pace Immigration - St. Kitts and Nevis Investor Immigration Program

Pace Immigration - St. Kitts and Nevis Investor Immigration Program

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Published by worldskb
Taking a look at the St. Kitts and Nevis investor immigration program.
Taking a look at the St. Kitts and Nevis investor immigration program.

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Categories:Business/Law
Published by: worldskb on Aug 29, 2011
Copyright:Attribution Non-commercial

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08/29/2011

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1 St. Kitts and Nevis, Dominica, Bulgaria and Austria are the only four countries in the world that have an economic citizenship program established.
THE FEDERATION OF ST. KITTS AND NEVIS
St. Kitts and Nevis, also known in the country’s constitution as SaintChristopher and Nevis, has been independent since 1983 and forms partof the group of islands known as the Lesser Antilles, located some 2,000km to the southeast of Miami. These islands are part of a luxurious tropicalparadise associated with the south Pacific. Sunlight, beaches, sea air, lushvegetation, breathtaking scenery, relaxed culture, and friendly people arewhat awaits any visitor or new immigrant.The Federation comprises two islands: Nevis with an area of some 93.2km2 and St. Kitts with 168.4 km2. The official and business language isEnglish. The Federation is a member of the United Nations (UN), of theOrganization of American States (OAS), the British Commonwealth andmany other international organizations. The Eastern Caribbean CentralBank has its headquarters in St. Kitts. It maintains the stability of the East-ern Caribbean Dollar (EC$), which is the national currency of most easternCaribbean countries and is tied to the US Dollar. The head of state is theQueen of England. St. Kitts and Nevis is a well functioning democracybased on the British parliamentary system.
ESTABLISHING CITIZENSHIP
Most countries regulate citizenship, and have strict rules on how non-citizens and foreigners enter and reside in the country, and qualify forcitizenship. The normal methods for quickly obtaining citizenship ina country is by birth in it’s territory, marriage, bloodline, or religiousaffiliation. Most countries do have a route for ones that do not fall intothose categories called the naturalization program. These programsusually have lengthy permanent residency requirements before being ableto obtain full citizenship.St Kitts and Nevis is one of four countries that has another route calledeconomic citizenship, where the country grants citizenship to a foreigninvestor and his/her family in return for a significant investment in thecountry. The incentive to this program versus the ones mentioned above isthat the program is instant in it’s character, since there are no permanentresidency requirements.
 
THE CITIZENSHIP-BY-INVESTMENT
 PROGRAM
The Citizenship Program of St. Kitts & Nevis wasestablished in 1984 , which makes this the longestestablished citizenship-by-investment program, andis the perfect fit for high net worth investors of goodcharacter, who are willing to make a contributionto the development of the Federation. Once thecontribution has been made, the investor is given theopportunity to apply for a passport and citizenship.
The Programs
There are two routes to St. Kitts and Nevis citizenship.Qualification criteria for St. Kitts and Nevis, includeseither an investment in real estate in the country, ora contribution to the Sugar Industry DiversificationFoundation charity.
Sugar Industry DiversicationFoundation (SIDF) Program
The SIDF route is optimal for those individuals andfamilies who may not wish to spend a lot of time inSt. Kitts and Nevis, and still wish to obtain citizenship.This can be done by contributing to the welfare of itscitizens.The government of St. Kitts and Nevis welcomes thosewho wish to help the country and it’s citizens. Aswith many Caribbean nations, sugar production was amainstay in the St Kitts and Nevis industry. The SIDFwas established to support the former sugar workers,conducting research into the development of industriesto replace the sugar industry, funding the developmentof these alternative industries and providing furthersupport to secure the sustainability of such industries.If you choose this route to citizenship, you will have tosatisfy the following criteria.
 A minimum non refundable contributionof $200,000.00 USD to the Sugar Industry Diversification Foundation, which is a registered charity. An extra $50,000.00 for a spouse and 2 childrenunder the age of 18 An extra $100,000.00 for a spouse and 4 childrenunder the age of 18 An extra $200,000.00 for a spouse and 5+ childrenunder the age of 18 $35,000.00 USD for each additional adult child applicant 18-25 years old who is in full timeeducationPace Law Firm Fee of $30,000.00Due diligence fee of $3500.00 (financial assessment)Original Application Forms Package for eachapplicant $250.00Passports are $500.00 (3 Day Fast Track) or  $200.00 (three week wait) There is a separateapplication for passports after the Certificate of Citizenship is issued.Passports are valid for a period of 10 years and thecost of renewal is $85.00
Real Estate Purchase Program
As the pictures and reputation confirm, St. Kitts andNevis is a beautiful place to live. Whether you wishto live in St Kitts and Nevis full time, wish to own avacation property to use on occasion, or purchase aproperty for rental income, doing so can also qualifyyou for citizenship, while allowing you to receive auseable and enjoyable asset for the investment youmake to the country.
2
Regulations regarding citizenship-by-investment are contained in Part II, Section 3 (5) of the Citizenship Act, 1984. The actual government policieswith regard to the Citizenship-by-Investment program (such as investment requirements etc.) are set by Government through Cabinet Decision.

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