Published at: 27/02/2023 11:06 am
The real estate market in St. Kitts has been steadily growing over the years, with a strong focus on luxury properties and high-end developments. Of course, the applicants for St Kitts and Nevis Citizenship by Investment program helped the local property market to develop.
The Citizenship by Investment Program is crucial for the country's economy, and according to the analysis of the IMF, the scheme generates enough revenue to create a diverse economy. Moreover, the government wants to develop a "Sovereign Wealth Fund", it will be the first fund financed through a passport scheme.
As the Kittian government changed the rules regarding the real estate option of the citizenship program, it will be helpful for you to understand the new limits.
The main changes will be enforced after 10 March 2023. The most critical issues are the following:
Real estate units of an "Approved Development Project" can not be resold for seven years after receiving citizenship. The owners can sell their properties to other applicants for the citizenship program with substantial further investments approved by the Cabinet.
Meanwhile, the minimum investment amount under the "Private Homes" option did not change. It is still 400,000 USD, but the naturalized owners can sell their properties after only two years.
St. Kitts is a popular destination for tourism and second-home ownership, as it offers a favourable tax environment, a stable government, and beautiful beaches and landscapes. Some of the most popular areas for real estate investment in St. Kitts include:
Overall, the St. Kitts real estate market is an attractive option for investors seeking a beautiful, stable, and tax-friendly location for their investment. However, as with any investment, conducting thorough research and due diligence before purchasing is essential.
Do you need experts' advice on investment projects in Saint Kitts and Nevis in exchange for citizenship? Our colleagues at Discus Holdings have more than three decades of success supporting our clients to obtain their new citizenship. Ask here for a free consultation!