The world is now global to the point of there being no turning back. Because of their work increasing numbers of individuals are traveling internationally. In fact, as a professional it is likely that you’ll be required to represent your company at conferences and meetings abroad. It’s a sad fact that some individuals completely aren’t able to take advantage of that possibility or are delayed due to the visa they have requested is not received quickly or because of the possibility they have to wait for their application has been rejected on a variety of grounds.
These gruelling situations could be familiar to many readers , and can seem incredibly unfair, particularly when normal people, businesspeople or businesswomen and those with high net worth clearly have no way to choose their country of birth citizenship by investment.
In the same way that you can alter the way your business is perceived by other individuals to improve business operations by implementing an organizational structure that is carefully thought through It is also possible in order to “restructure” the citizenship of your family and use this strategy to alter the way people perceive yourself and the members of your household. Citizenship is more than simply a nation that is inherited from birth. It is a tool that can be utilized together with residence as a tool to strategize the optimization of taxes and protection of wealth within the parameters of law.
The legal process of acquiring a new nationality and passport from the right area is the best way to ensure freedom of travel with visa-free access across the world, in order to shield the assets from high taxes and to increase wealth over time.
How can you reduce the risk of not being granted the visa you want?
How do you legally gain citizenship without having lived in the nation you wish to be a citizen of?
What benefits can Saint Kitts & Nevis citizenship give you?
What can you do to protect your investments from being ruined by a taxation nation?
Unless you were born in a nation that is generally considered to be as a positive influence on the international stage or have parents who are from that country, it generally requires several years of living in the country to earn citizenship in the majority of nations. Therefore, some governments have created alternate routes to those who make a significant economic contribution to their country through legally-approved economic citizenship programs.
The Government of Saint Kitts & Nevis launched an “Economic Citizenship Program” in Part II section 3. (5) of the Saint Kitts & Nevis Citizenship Act of 1984 (ndeg1 of 1984). The program aims to draw investors with good character, who will contribute significantly in the development of Saint Kitts & Nevis, through investment funds that contribute to the growth of the country.
The law allows those to invest money into Saint Kitts & Nevis to be granted citizenship without obligation to reside in the country. There are no requirements to be met with respect to the minimum net worth, the level of education, the maximum age and nationality, or experience in business and a trip in Saint Kitts & Nevis or an interview is not required.
In order to be eligible for economic citizenship, there are two options offered:
Through a financial contribution through a financial contribution to “Sugar Industry Diversification Fund” (SIDF)
Due to the fact that the sugar cane industry locally (traditional primary source of income up to around 1970) has been impacted and impacted by financial aid, this sector can be a prerequisite to become citizens. For instance, an investment of USD200,000 can be used to grant a single applicant citizenship as well as others.
The minimum amount that can be invested is USD 350,000. The investment property has to be located within one of the investment projects that have been approved regions. The properties are legal freehold, and their use is not restricted. Saint Kitts & Nevis boasts one of the largest real estate marketplaces across the Caribbean region due to the numerous luxury resorts as well as the renowned medical school that is situated in the area.
It is believed that the Saint Kitts & Nevis citizenship is a great asset in tax issues, particularly when you’re an individual with a high net worth who is from a country that imposes taxes on all income as well as gains and assets.
If it is used in the right method, citizenship could serve as a shield against the high rates of taxation, having another citizenship never be motivated with the intent to avoid taxation at the national level. One of the biggest benefits that comes with citizenship of Saint Kitts & Nevis citizenship is that there isn’t any global income tax and no personal tax. There is also no limitations on return of profits and import capital and no inheritance tax. There is also no withholding tax on nationals who reside abroad, and there are no tax credits.
Other advantages of Saint Kitts & Nevis citizenship as well as visa-free travel or stamped-on arrival travel to a variety of nations, including European Schengen countries and most British Commonwealth member countries, includes no requirement to live within Saint Kitts & Nevis, full residency status, no restrictions to dual nationality, lifetime citizenship in the British Commonwealth country, etc.
In addition to the advantages mentioned above for certain people having a second nationality and second passport offers additional freedom (freedom from tax evasion as mentioned above, freedom from violence and political turmoil freedom to travel for leisure or business, and freedom to make opportunities to ensure the future of their family).
To obtain the Saint Kitts & Nevis citizenship isn’t an arduous process and the law allows for applications to be processed in an extremely short period of time. In actual practice in the case of option 1 you should get a certificate of citizenship within 90 days, provided all the required documentation is supplied in the second option, whereas under option 2 it can take as long as 4 months or more. Be aware that a considerable amount of time will be required in order for the authorities to complete the background checks, and this will depend on your particular situation.
In the case of investment wise people don’t put their money into one business or venture. The same way should you not be diversifying your strategy tools in relation to your residency and citizenship to help balance the benefits and drawbacks of your present citizenship?
Through property investment