Update St. Kitts and Nevis Citizenship By Investment – Real Estate Eligible for Re-sale

St. Kitts and Nevis Citizenship By Investment – Real Estate Eligible for Re-sale

by Dia C. Forrester, Partner, dia.forrester@danielbrantley.com

A common question asked as by participants in the St. Kitts and Nevis Citizenship by Investment programme is whether or not the real estate purchased can be sold and the procedure for such re-sale.  The Cabinet of St. Kitts and Nevis confirms its resale policy and procedure by correspondence dated 24th January 2018 to be as follows:

Conditions on which Real Estate purchased in the St. Kitts and Nevis Citizenship by Investment programme are eligible for re-sale

  1. Real Estate purchased after 2012 and held for at least five years thereafter, where a successful Citizenship by Investment application was made;
  2. Real Estate purchased prior to 2012, where a successful citizenship application was made after 2012 and held for at least five years from date of the successful application;
  3. Real Estate purchased in an Approved Project but not utilised for a Citizenship by Investment Application in St. Kitts and Nevis;
  4. A block of real estate purchased in an Approved Project through a company established and maintained under the laws of St. Kitts and Nevis, in an exempt or offshore entity and, never been utilised for a Citizenship by Investment application in St. Kitts and Nevis;
  5. Real Estate purchased under the temporary policy directed by the St. Kitts Investment Promotion Agency;
  6. An Approved Project for which the vehicle for the investment application is subject to an equity share;
  7. Real Estate purchased in an approved project where ownership was transferred and a subsequent application for Citizenship by Investment in St. Kitts and Nevis was made and denied.

 

Request to engage in the re-sale of Real Estate must be done by way of application through an Authorised Person to the Citizenship by Investment Unit.  Applications must be supported by a Certificate of Registration, Certificate of Title, up to date tax receipt, confirmation from Developer that there are no outstanding matters with respect to the real estate, a valid passport and one other form of picture identification and, if applicable, confirmation that the real estate was not previously used for a successful Citizenship by Investment application.

For further information in relation to the St. Kitts and Nevis Citizenship by Investment Re-sale policy and procedure, and general information on the St. Kitts and Nevis Citizenship by Investment programme, please contact us at info@danielbrantley.com.

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