St. Kitts and Nevis announces addition of residency programme to CBI offerings
The Citizenship by Investment Unit (CIU) said it is adding value to the range of programmes on offer by making available a residency programme to people wanting to live and work in St. Kitts and Nevis.
The CEO, Les Khan, made the announcement at the Global Mobility & Tax Strategies Conference in Singapore on the June 30, where he was invited as a guest speaker.
During the conference, Khan met with lawyers and wealth managers representing clients throughout the Asia Pacific region. Their interests were in residency and citizenship programmes as a means of tax and wealth planning. Khan showcased the immigration and investment options in St Kitts and Nevis to convey that St. Kitts and Nevis’ citizenship programme is now “the strongest in the Caribbean.”
On making the announcement, Khan noted that “St Kitts and Nevis was in a unique position to offer a residency programme without having to change any tax laws.” He noted that this would be the only legitimate programme where individuals would be required to spend a certain amount of time on the island. He advised that this programme was in response to a demand from economic citizens and other individuals wanting to be registered as residents of the federation.
The prime minister, the Honourable Dr. Timothy Harris, said “With the St Kitts and Nevis programme now globally recognised for its integrity and platinum standard, it made sense that the natural next step would be to offer a residency programme that would meet a specific customer’s need. It will also stimulate tourism, as well as offer our developers another avenue for marketing their projects. It’s a virtuous circle of mutual benefit.
“The programme will still maintain its high standards of due diligence,” he said. “It is intended to offer our economic citizens the ability to obtain a residency card as long as they are willing to spend a period of time on the island. In addition, individuals not wanting citizenship at this time can apply for residency status and in the future convert to citizenship should they wish to do so.”
Khan also stated that there was an overall welcoming of this option from the agents he spoke to in China as well as others in Eastern Europe. The history of political stability and continued economic growth makes St. Kitts and Nevis the immigration option of choice to the very high net worth individual.
Khan stated that full details of the programme will be released in the next two weeks.