Caribbean countries have been among the most popular tourist destinations in the world for a long time. That is not a surprise considering what they can offer in terms of great hotels, amazing beaches, nature, and more.
Some countries in this region realized that the best way to increase the number of foreign investments is to introduce new friendly regulations towards taxes. Also, some of them introduced a new way of bringing more people to live there: citizenship by investment.
One of those places is Saint Kitts and Nevis. You can choose between two models of getting citizenship, which is by donating money to the government or buying a property there. Before you make your decision, you should check out more details about the benefits of having a Saint Kitts and Nevis passport. We will analyze more on this topic in the following article.
Great Relations With Other Countries
This is especially important for those coming from developing or third-world countries. This country is ranked in the top 30 when it comes to passports and several countries where you can travel without a visa. There are over 150 countries that you can visit whenever you want. An even more important detail is that the UK, Canada, and Australia are on the list, along with the EU, China, and many other places known for their strong economies.
St. Kitts and Nevis is part of the Commonwealth, which means that you can enjoy some benefits offered by other members. For example, you can send your kids to some of the best schools in the UK or Canada. On the other side, some places require a visa, but the process of getting one is simple, at least in most cases. For instance, getting one to visit the US is quite simple when you are coming from this place.
A Great Business Opportunity
Another huge advantage of getting this passport is related to the benefits that St. Kitts and Nevis are bringing, especially for those who choose citizenship by investment program. First of all, we have to mention that you will not have to pay taxes for any income that is coming from another country. For example, you are working remotely for a company or owning a business. In both of these cases, there won’t be any income tax included.
There are no additional fees required for wealth, estate, and capital gains as well. That is one of the main reasons why a lot of companies and new business owners are moving to this place to open offices or start new businesses there. When you combine that with the fact that you can operate in many other countries and travel there without a visa, it makes it perfect for starting a business, especially when it comes to modern options like online stores and services.
Since it started offering the possibility of getting a passport through a simple process, many people already used that option. At this moment, over 20,000 people got it. Even if you don’t own a business, choosing the option of investing in property there can be a great way to secure passive income and ensure that your money will gain value over time.
For example, the minimum requirement for buying a house is $200k. There are many indications that prices of real estate will only rise over time. There are different factors affecting that, such as economic growth, increased popularity, and inflation.
Since it is a popular tourist destination, a simple solution would be to rent your property through some online service like Booking or Airbnb. There are no strict requirements where you need to live in the country for a specific time during the year. Once you get your passport, there is no way for anyone to make it invalid.
How To Get the Passport?
As we already mentioned, there are two options available. The first one is by donating. The requirement is to donate an amount of $150k. Also, there are additional options where you can include your family as well, but that will require additional fees. The process is simple and it will need around 3 months to complete it.
The second option is much more popular, which is not a surprise. You can buy a house there that must be worth over $200k, and the official will grant you full citizenship. Moreover, we have to mention the common misconception that some people think that Caribbean countries represent a solution for criminals to hide their activities and run from jail and other issues.
The process is quite strict, and there is always a background check that you must pass before getting the passport. There are other steps to complete as well. The best solution is to hire a well-known agency that will help you go through the whole process and complete it without any issues.
Besides the fact that it can be a great way to secure a more profitable business, we also have to mention that you will become a full citizen of an amazing place where you can enjoy it all the time.
The weather is always good, the locals are quite diverse, and you will see a lot of different cultures. Besides that, healthcare is free, along with education
There are similar options available in some other countries, but many of them will require much higher investments. That is one of the main reasons why this one is so good in the first place. The key factors that make it such a good model are the fact that this passport is ranked among the top, at 25th place, there is no income tax, and you don’t even need to live in the country to have citizenship there. Since remote jobs and online business models are now more dominant, it is not a surprise that so many people are interested in this option.