Best Citizenship by Investment for Families Is Via St Kitts and Nevis' Fund Option
LONDON, May 27, 2020 /PRNewswire/-- High net-worth individuals seeking to obtain citizenship by investment (CBI) along with their families tend to prefer the fund option under the St Kitts and Nevis CBI Programme. In another episode of CS Global Partners' 'Plan B' podcast, a London expert explains the main differences between the top CBI programmes.
Legal Assistant Yasmin Abouzouhour from CS Global Partners' London headquarters explains that investors choose a CBI programme depending on their nationality; whether they apply with their families; the type of dependants and their ages; processing timeframes; investment preferences; residency requirements; and future relocation plans. The expert notes that the fund option under the St Kitts and Nevis Programme – the oldest CBI initiative in the world – suits larger families best.
"St Kitts and Nevis pioneered the concept of citizenship by investment in 1984 and, more than three decades later, remains an industry frontrunner," says Ms Abouzouhour. "It has finetuned its CBI Programme and now holds itself to the highest standards of due diligence, setting the St Kitts and Nevis Citizenship by Investment Programme as the 'Platinum Standard' against which every other CBI programme is benchmarked," she explains. Ms Abouzouhour says that, "Under the fund option, St Kitts and Nevis' Citizenship by Investment Programme favours larger family structures."
Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF) two years ago as the fastest route to second citizenship from St Kitts and Nevis. The new investment channel offers families the chance to obtain citizenship by investing US$175,000 for the main applicant and spouse, and an additional US$10,000 for every other dependant on the same application. Les Khan, the CEO of the St Kitts and Nevis Citizenship by Investment Unit (CIU) explained that they created the SGF specifically with families' needs in mind.
The process takes 3-4 months on average and includes a thorough background check on all applicants. If successful, they receive lifelong citizenship which they can pass down to future generations, along with the full legal rights, benefits and privileges a native citizen has, except for the right to vote. Economic citizens can thus forever live, work and study in a secure and modern country guided by democracy, strong state institutions and the rule of law.
New citizens can also travel visa-free or with a visa-on-arrival to over 150 countries and territories – a list that has been expanding thanks to Foreign Minister Mark Brantley's diplomatic efforts. Importantly, investors' CBI contributions support many socio-economic initiatives that help improve the standard of living and business opportunities, which both native and economic citizens can enjoy for life.
For safety reasons, St Kitts and Nevis' CIU has temporarily allowed agents, called 'authorised persons', to submit applications online, to get a head start on the initial and more complex phase of the CBI process: the due diligence checks. The CIU only accepts applications from authorised persons, which investors can select from the government website.
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