There is a wide range of real estate in St Kitts, from luxury villas and apartments to international hotels and high-end resorts: property prices, requirements for non-nationals, how to buy real estate.
General information about St. Kitts and Nevis
Saint Kitts and Nevis consists of two islands: St. Kitts is the main island hosting an international airport and one of the biggest cruise ports in the Caribbean, which is bustling with booming economic activities; and Nevis is the smaller island, boasting its tranquility and scenery, which suits perfectly for retirees and family get-away holidays. The capital city, Basseterre, is located in Saint Kitts and serves as the transportation hub for passengers.
The island country attracts people worldwide for its breathtaking scenery, pleasant Caribbean climate, thrilling adventures, varying clusters of activities for all ages, and a friendly environment for raising families and conducting businesses. As a Commonwealth country St Kitts and Nevis has close ties to the UK and EU and the majority of its population speak English.
What is most interesting about St. Kitts and Nevis however, is that it allows interested investor from around the globe to obtain citizenship of the commonwealth island through its revered citizenship by investment program.
Citizenship by Investment Program
The Citizenship by Investment program (CIP) enables qualifying investors to obtain a second citizenship and and passport for themselves and their family. Since its introduction in 1984 the St Kitts and Nevis citizenship by investment program has become a highly popular second passport program among high-net-worth individuals. Under the program, foreigners can choose to donate or invest in approved Saint Kitts and Nevis real estate to receive the passports.
The whole process only takes two to four months. In the first month, the investor chooses the investment option and an authorized agent to take care of the application and prepare all the required documents and submit it to the Citizenship-by-Investment Unit (CBIU). In the second month, the CBIU will review and approve the application. Once approved applicants then make their investments and receive their passports and citizenship certifications.
The St. Kitts and Nevis passport is one of the most powerful in the world. It is the strongest one in the Organization of Eastern European States and provides its holders visa-free access to a total of 156 destinations worldwide, including the UK, EU, Singapore, and many others.
St Kitts and Nevis Real estate types for investment
St Kitts real estate is increasingly popular among homebuyers who long for a glorious climate, luxurious living conditions, and a soul-comforting atmosphere. There is a wide range of real estate in St Kitts, from luxury villas and apartments to international hotels and high-end resorts.
St Kitts luxury real estate has seen increasingly strong demand. The greatest interest comes from North America and the UK while other nationals are applying too; such as Russians who are also buying real estate in St Kitts. In recent years, the Citizenship by Investment Program has been stimulating sales. The strong rental demand is also driving up yields on investments.
For interested investors St. Kitts and Nevis offers a wide range of property types, as the government is actively approving projects that have long-term positive impacts on the St. Kitts and Nevis economy. The property types an investor can choose from are:
- Actual real estate: such as condos or villas. These can be personally used or rented out.
- Shares in five-star resorts: by purchasing a share an investor becomes a shareholder and is entitled to return on investment once the resort is operational.
- Property in housing projects: purchasing an actual real estate that will be rented out by a managing company.
While property prices may vary depending on the property itself, it is worth noting that the St. Kitts and Nevis citizenship by investment program requires an investment of a certain amount for applicants to be eligible. More on that below.
St Kitts and Nevis property prices
Citizenship by Investment (CBI) investors can choose to purchase real estate properties approved by the government. The properties can be bought individually (minimum $400,000) or in joint ownership (minimum $200,000). After the required holding period of five (in the case of individual investment) or seven years (joint investment), investors can sell the properties and retain their citizenship.
As of April 2020, more than 75% of applicants choose property investment to get St Kitts and Nevis citizenship. Last year, 100 properties were approved for Citizen by Investment Program.
One of the most cost-efficient St Kitts investment options is buying a share in luxurious hotels and resorts managed by world-famous hotel management groups. In this way, the investors don’t need to manage the property independently and sometimes have the right to stay at the hotel several weeks a year or receive a rental yield. The shareholders have the privilege to take advantage of hotel’s loyalty program, including room upgrades, early booking, and discounts at all the chain hotels around the world.
The two videos below showcase some of the exciting projects that you can buy a share of to get your citizenship:
Four seasons resort estates Nevis
The Four Seasons Resort Nevis prices range from $400,000 to $2 Million or more. There are more than 98 villas in the territory. The hotel has about 200 rooms, and new construction goes on periodically, which gives investors a chance to purchase a new property. Nevis real estate Four Seasonsis a massive territory which also gives investors the option to purchase land, build their own homes, or buy the real estate properties managed by the hotel.
Park Hyatt St. Kitts hotel
Park Hyatt is the No.1 hotel in the Caribbean, according to CNN Travel, making it one of the hottest St. Kitts island real estate options that lead to citizenship. Thanks to booming tourism in the last five years, the hotel is often fully occupied. The hotel is divided into 600 shares for CBI investors, with each share priced at $220,000. With all 600 shares being sold out and several dozens of shares resold on the secondary market, Park Hyatt l is probably one of the first properties in the Caribbean offering secondary resale of shares with the opportunity of retaining citizenship.
What can be rented and its cost
An important matter to keep in mind when pursuing a second citizenship is financials. You want a citizenship by investment program that not only offers you a robust second passport; but a nifty return on investment as well. If you choose to obtain the St. Kitts and Nevis passport through real estate investment then you have two options to obtain an ROI:
- Renting out your property; if you buy an actual physical property you can rent it out by utilizing a property management company or through other routes such as Airbnb. Property management companies usually charge amounts near $150 per month, while the average rent of a unit is about $600 per month, meaning you could turn a 3% annual ROI hassle-free.
- ROI through shares; if you buy a share in a hotel or resort you can profit as the establishment profits. You have no active management requirement, so you just sit back as the resort runs itself and get your cut of the profits. ROI normally ranges between 2-7% but will ultimately rely on the resort’s performance.
We at Migronis greatly focus on finding you the best deal and most attractive investment opportunities to maximize your ROI, below are some of the more interesting projects to consider in St. Kitts and Nevis
How to buy real estate property at St Kitts and Nevis
There are all types of St. Kitts real estate for sale, starting from small sea-side studios priced as low as $150,000 to traditional houses at around $500,000 to luxurious villas for sale in millions. The rental yields are also attractive. According to the local real estate listings, a three-bedroom house with a pool, for instance, rents short-term for $2500 to $3000 per week during peak season and $1200 to $1500 per week in low season.
Currently, there are also St Kitts real estate for sale by owner on the secondary market within the passport program. Some CBI investors have already passed the five-year holding period and are now able to sell their properties. Since they have already got citizenship, they are not very price-driven, and the offers look attractive for potential buyers.
However, it happened that the construction of some properties on the St Kitts passport program has been either frozen or delayed. In this case, the CBI investors can still get their citizenship but face the danger that the construction may never be completed. That’s why it is important to work with professional agencies who go to the project, do thorough due diligence, and provide transparent information for the investors.
Foreign nationals need to apply for an Alien Land Holding License to buy real estate at St. Kitts and Nevis. The fee is 10% of the gross purchase price. And the legal fees are estimated at 2% of the purchase price. The transactional cost is about 12% of the property value.
For more information on St Kitts and Nevis real estate properties and tips from St Kitts real estate agents, please check out the video:
A list of approved real estate can be found here:
Requirements for non-nationals
The St. Kitts and Nevis citizenship by investment program has made it extremely simple for investors to purchase real estate and obtain citizenship. The process and requirements are quite straight forward and can be summarized in the steps below:
- Find a qualified agent to help you choose the best real estate option.
- Once you choose a real estate option sign a purchase agreement.
- Transfer 10% of the real estate amount into an escrow account.
- Apply for citizenship through your immigration agent.
- Once you gain approval transfer the remaining 90% of the real estate value.
- Get your citizenship, passport, and share certificates or property deed.
It is that simple, it is that elegant.
Buying property in St. Kitts & Nevis is not only an alluring investment venture, but a pathway for you to get yourself and your family a magnificent second passport and citizenship. To know more about real estate in St. Kitts and Nevis, and about how you can become a citizen of the beautiful island of St. Kitts West Indies contact us today for a free individual consultation with our St. Kitts and Nevis expert.
Frequently Asked Questions & Answers
How to reach St Kitts as an investor?
There are several airports on Saint Kitts. Robert L. Bradshaw International Airport (RLB) Basseterre is the main international airport. It provides non-stop flights operated by various airlines from the United Kingdom, Canada, and The United States.
Why Choose St Kitts and Nevis Property?
Investors can obtain St Kitts and Nevis citizenship through buying property in St. Kitts and Nevis. Saint Kitts island real estate is a pathway to a pleasant lifestyle on a beautiful Caribbean island and a low tax regime with no income, inheritance, or gift taxes. There is a wide variety of properties to choose from, including luxury villas and apartments, international hotels, and high-end resorts.
Is there a St Kitts and Nevis property tax?
The property tax in St Kitts and Nevis is very low, ranging from 0.2% to 0.3%. For majority of St Kitts realty, the tax is $800 to $2,000 per year. The tax is assessed on the market value of real estate property and ranges, depending on its use and location.