Business
St Kitts & Nevis: Citizenship program begins to payoff – will finance new resort
An agreement was earlier this week between Range Developments, an affiliate of Hyatt Hotels Corporation, and Kiawah Partners to build and operate, contingent upon final financing, an ultra-luxury Park Hyatt hotel at Christophe Harbour on the eastern Caribbean island of St Kitts. The project will be financed under the St Kitts & Nevis Citizenship by Investment Program through the sale of individual investment shares for US$400,000.
(More: St Kitts-Nevis citizenship by investment program receiving nearly 300 applications annually)
Ownership of an investment share (limited partnership interest) in the hotel project grants investors the right to become eligible for citizenship of St Kitts & Nevis, a member of the Commonwealth of Nations.
The key advantages of St Kitts & Nevis citizenship include visa-free travel access to 139 countries across the world, including United Kingdom, Schengen European countries, and most British Commonwealth member countries. Also included are Canada, France, Germany and Switzerland.
Citizens of St Kitts & Nevis enjoy tax-free income and an exemption from paying taxes on capital gains, gifts, wealth and inheritance. Other benefits include dual citizenship for all nationalities without renouncing the citizenship of one’s home country, citizenship for life with an unlimited number of eligible dependents passed down through generations, and ability to obtain citizenship within 90 days without a residency requirement.
