St. Kitts and Nevis Announces the Addition of a Residency Programme to its CBI offerings
The Citizenship by Investment Unit (CIU) 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 30th of June, where he was invited as a guest speaker.
During the conference Mr 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. He was able to showcase the immigration and investment options in St Kitts and Nevis and to convey that St. Kitts and Nevis citizenship programme is now the strongest in the Caribbean.
On making the announcement Mr. 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 also 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.
Prime Minister Dr. the Honourable Timothy Harris commented:
“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 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 now high standards of due diligence and 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.”
Mr. 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.
Mr. Khan stated that full details of the programme will be released in the next two weeks.