In 1984, the Government of St Kitts and Nevis created the world’s first Citizenship By Investment programme. They introduced the possibility of buying citizenship, and since then countless other countries have adopted the idea – all looking to this, the original, for guidance. Regarded as the Platinum Standard, CBI offers almost anyone in the world the chance to get the full benefits of citizenship of the twin-island Federation: visa-free access to places such as the UK, Europe and Singapore is a significant draw. The passport currently ranks 26th in the world, granting greater mobility than any other offered by countries operating similar schemes in the Eastern Caribbean.
The St. Kitts and Nevis real estate market is transforming from a buyer’s market to a seller’s market. Buyers are placing competing bids for properties they desire. Consequently, property prices will start to increase, which is why investors should act now to take advantage of the new CBI scheme that ends in November 2022.
Now, all property valued at greater than US$400,000 is included in the CBI programme. Where once only carefully selected properties in particular areas would allow qualification, now it’s possible to choose from a wide variety of properties including historic sugar mills, beachfront condos and luxury villas.
Shared ownership is also an appealing option where for as little as US$200,000 a family can qualify for citizenship. At the lowest price point, owners are typically granted two weeks’ access to the vacation home in the high season and two weeks in the low season; there are low maintenance fees that must be paid for a minimum of seven years for citizenship to be granted. ‘No access’ fractional ownership options also exist, with the developer paying out up to US$42,000 at closing. No rights or responsibilities exist for seven years but after that the owner will be required to contribute towards maintenance costs and will become part of the rental programme. Each share entitles a whole family to citizenship.
The Villas at Pinney’s Beach are some of the most appealing, with one-tenth ownership from US$400,000. Here, Caribbean and Mediterranean styles are seamlessly blended, creating contemporary spaces that are sleek and luxurious. Each share comes with five weeks of use spread between high and low season.
On the other side of the Narrows, Windswept Villas on St Kitts are set in an exclusive enclave. These are chic investment options, with spacious indoor and outdoor living areas creating the perfect island lifestyle.
These are great options for buyers who are seeking citizenship with a lifestyle component at the minimum price point of $400,000.
But we want to focus on the coming months when all properties over the minimum threshold of US$400,000 grant citizenship to the purchasers and their family. Unique properties such as Castelet take on a whole new appeal when they come with citizenship: the seven separate pods nestle into a sheltered point high on a peninsula that looks towards St Kitts, an expansive terrace and infinity pool the focal point of this extraordinary architectural achievement. Or there is the option of Seaside Villa 12 at exclusive Cliffdwellers, where the traditions of West Indian design have been carefully incorporated into a stunning home mere steps from the Caribbean Sea.
Across on St Kitts, places such as Sweet Retreat have an appealing price point: for just under US$650,000, it is possible to purchase a comfortably furnished three bedroom home with a gorgeous pool that is designed for sun worshippers and sundowners. Those looking to make an investment that has immediate returns might look towards places such as Russet Villa, a three bedroom home with a pair of two bedroom apartments. This new-build has high-end fixtures and fittings throughout, with polished wooden floors, marble bathrooms, and a wonderful feeling of light and space.
The Caribbean lifestyle has long appealed to people the world over. Laidback, easy living that revolves around the sea, the sand and the sun will prevail on the islands. Buyers looking to make an astute investment in a year-round holiday rental can also benefit from gaining citizenship of St Kitts and Nevis, a winning combination. With decades of experience behind them, Nevis Style Realty is able to offer a range of homes to potential purchasers. And what’s more, NSR has both the knowledge and the passion required to identify your perfect property.