What is the biggest advantage of holding a second passport? For a sovereign individual, the legal right to work without restrictions in different countries, in particular with a passport from countries in the EU or from countries which offer visa-free travel in the EU is what is exciting as well as empowering.
So, how can you get a second passport? The primary step is to be a citizen of a country which offers foreigners to becomes part of their country. There are many countries which offer a second passport to an individual when they become a citizen in a target country through investments. The oldest prevailing citizenship programme is offered by a small Caribbean country called the St.Kitts and Nevis, which is part of the Commonwealth Realm.
Citizenship By Investment in St.Kitts and Nevis
The country opened its door to foreign investors in the year 1984 with multiple benefits. According to their official website, acquiring a citizenship in the country will offer you and your family full citizenship rights which are passed onto future generations by descent. A passport form St.Kitts & Nevis allow you visa-free travel to more than 151 countries worldwide, including all of the EU and CARICOM countries as of 2018.
The candidates follow a number of legal steps and make a qualifying investment to the country. Initially, the government of St.Kitts & Nevis opened this program to boost the nation’s sugar industry. It is still a government approved public charity SIDF (Sugar Industry Diversification Foundation), in which you can make an investment to qualify as a citizen of the country.
Legal Requirements and Procedures
To be identified as a citizen, the applicant must make either an investment of USD 400,000 or USD 200,000 in any of the government approved real estate in addition to the government fees and additional taxes or making a contribution of 250,000 to the SIDF or a non-refundable contribution of USD 150.000 for a single applicant to the SGF (Sustainable Growth Fund) .
All these options allow an applicant to choose a dependent between the ages of 18 to 30 years to be included in the application, under the condition that the dependent is a student who is financially relying on the main applicant. Financially dependent individuals included in the application can also be the applicant’s parents or grandparents over the age of 55 if they are shown to be fully dependent on the applicant.
Benefits of a St. Kitts and Nevis Citizenship
Other than obtaining a second passport and visa-free travel to 151 countries, you can also enjoy tax-free status and duty-free trade within the Caribbean. Reports show that St. Kitts and Nevis received the most number of application in 2018 as a result of the “Hurricane Relief Fund” which ran in the first half of the year. This prompted the country as the most affordable Caribbean residency program for a family of four.
So, are you ready to apply for your second passport? Consult your legal adviser in Dubai to know more about St. Kitts passport by Investment today.