One of the countries that sell citizenship based on investment is St. Kitts, also known as Saint Christopher Island within the islands of West Indies. For the bargain amount of a sum of $250,000, you will be able to procure your way into the citizenship of the island. There is no requirement for you to be physically present on the island of St. Kitts for this process to be successful, and you might require only a few months for the completion of the method. There are a number of online agencies which offer you to organize this process quoting a time frame of 4 to 8 weeks on an average. The Citizenship program of St Christopher’ was established in 1984 and allows the process of citizenship by investment. In this process you can apply for the program if you invest in the real estate of the country in order to facilitate “country development”. If you are looking for obtaining this, then you have to hand over an amount of at least $250,000 for investing in real estate. Along with this you have to pay a fee of $35,000 for application of each citizenship and additional $15,000 for each dependent in your family.
The facilities that citizenship by investment includes are tax breaks for a time period up to 15 years, the ability to introduce tax free good into the US market and you can visit over 100 countries without the need to possess a visa which includes Europe and Canada. Any income that you earn outside the domicile of St Christopher &Nevis won’t be liable or tax within the economic system of the island. There are a number of reasons why individual of a country would want to possess such second passport. The major reasons beings increase in taxation, political instability and civil lawsuits in the home countries. You should keep in mind that it is not just St. Kitts that cashes in on such a venture. In Austria, if you are a foreign national who has contributed “extraordinary service” for the country, you get granted a citizenship. This program is reported to include similar kinds of investment as St. Kitts although the claim is disputed by Austrian embassy.
This process may be considered “exclusive” or it might just simple be a technique to control the level of immigration in the country which ultimately results in the benefit of the economy of the country as a part of the process. Jersey, an island in the English Channel is acknowledged for its tax breaks and exclusivity. If you want to attain the means to move into a country like the USA or Australia, then you have to persist with extensive individual investment in order to get the approval. Apart from tax breaks and beautiful surroundings, the most common reasons for 1,788 Americans to renounce their citizenship according to government records in 2011 were for escaping tax rates and political and family concerns.
Leave a Reply