The Option Of A Second Passport - St Kitts & Nevis Citizenship By Investment

Individuals and families are becoming increasingly mobile and the ability to hold a second passport is becoming more relevant. The Caribbean is an attractive destination for a number of reasons, including the relaxing lifestyle, beautiful scenery and the climate. There are also opportunities to hold a second passport, even if the immediate intention is not to relocate to the Caribbean.

Why do Families and Individuals Require a Second Passport?

There are a variety of reasons why wealthy individuals wish to acquire a second or alternative nationality:

To offer insurance against political, economic or fiscal change in the individual's country of origin. To make international travel easier. Nationals of many countries have to endure lengthy waiting periods to obtain visas for travel to a number of western countries. This may be because they are nationals of a developing country or there may be animosity between their country and another. To allow the passport holder to avoid discrimination. To avoid the risk of potentially hostile treatment by Government officials, kidnappers and hostage takers. To present new opportunities for the tax structuring of personal tax affairs. Generally an individual's residence and citizenship are the ultimate basis for the majority of taxation rulings. Citizens of the United States of America and certain other countries are subject to tax on their worldwide income, irrespective of their country of residence. They are denied the residence-linked tax planning opportunities that are available to others. It is possible for such individuals to gain fiscal advantages by acquiring a new citizenship and renouncing their original citizenship. There are a number of different options for citizenship within the Caribbean. A major advantage of St Kitts & Nevis Citizenship is that it guarantees receipt of a St Kitts & Nevis passport, with full Schengen travel rights throughout Europe.

The St Kitts & Nevis Citizenship by Investment scheme enables citizenship to be obtained by individuals through 3 alternative investment programmes. An individual can receive a St Kitts & Nevis passport in 3 months or less from the application date.

What Does a St Kitts & Nevis Passport Offer?

Applicants do not need to travel to St Kitts & Nevis for the application and there are no annual residency rules to maintain the passport. A single application can include children up to a maximum age of 30 and parents with a minimum age of 55. New fast...