Successfully opened in late 2017, the 126-room Park Hyatt in St Kitts was the first development by Range Developments in the Caribbean and is testament to their pursuit of quality and belief in St Kitts and the Eastern Caribbean region.
Recently awarded #1 New Hotel and Resort in the Caribbean by CNN Travel, there are a limited number of shares remaining in this now fully operational hotel offering shareholders:
The government of St Kitts & Nevis last week announced a reduction in application fees for applicants investing in approved projects. An application for a family of four now costs as follows:
Investment share US$ 430,000
Goverment Fee US$ 75,000
Due Diligence US $11,500
TOTAL US$ 516,500
SIX SENSES ST. KITTS ANNOUNCED
After the tremendous success of the Park Hyatt St Kitts, Range Developments has announced a second branded hotel to be launched this year in conjunction with world-renowned five-star operator Six Senses.
“We are delighted that Range Developments is bringing another project and the unique brand of Six Senses to the country,” said Dr Timothy Harris, Prime Minister of St Kitts and Nevis. “It is an amazing development for our small country to be the beneficiary of another luxury hotel brand so soon after the official grand opening of the world-renowned Park Hyatt on St Kitts.”
A Limited Partnership share ownership structure is expected to be announced shortly allowing individuals and families to purchase a share in the new hotel and apply for citizenship. St Kitts and Nevis continues to be a top choice for investors pursuing citizenship-by-investment in the Caribbean.
BENEFITS OF ST. KITTS & NEVIS CITIZENSHIP
WHY IS SECOND CITIZENSHIP A GROWTH INDUSTRY?
Investment citizenship programmes are not new. They’ve been around for decades, primarily as a way for countries to boost their incomes. Canada and the Caribbean island of St Kitts and Nevis started theirs in the 1980s and the US and UK began similar ones in the 1990s.
At last count, 23 countries from Cyprus to Singapore offered some kind of investment residency or citizenship scheme and more are being created with similar programmes proliferating across Europe. Almost half of all EU member states now offer some form of investment residency or citizenship programmes.
The industry has seen huge growth in recent years. 2014 marked the first year that the US ran out of immigrant-investor visas before the end of the fiscal year. Events including the decision by Britain to leave the European Union and the 2016 US Presidential election are driving new interest.
In China, which produces more then two thirds of all investor immigrants globally according to a recent study by Investment Migration Insider, instabilities such as lack of civil liberties and freedom of the press, environmental pollution (air and water), capital control measures, high levels of state control and restrictions in FDI (foreign direct investment) lead many Chinese UHNWIs to look at ways to better secure their future through immigration options.
The IMF says Citizenship by investment programmes amounted to 14% of St Kitt’s GDP in 2014, and other estimates say the programme may have accounted for as much as 30% of the government’s revenue in 2015.
But increasingly, richer countries are offering ‘citizenship for a price’. Comparable programmes in New Zealand cost NZ$1.5m ($1.06m) – a popular move among Silicon Valley’s tech elite recently – or £2m ($2.58m) for the UK and $500,000 for the US.
Andrew Henderson, an American entrepreneur and founder of the Nomad Capitalist, a blog, podcast and consulting company, has four passports and is working on his fifth. Multiple citizenships provide him with a multitude of entrepreneurial options, he says.
“For me it’s about how I could have better options, better tax treatment, better treatment as a person and get the same visa free travel.” he says, adding that he expects investment citizenship to rise.
“I think the world is going more nomadic. People don’t want to be in once place. They want to have one or two or three bases for lifestyle reasons and pay reasonable taxes, and that’s what becoming more accessible.
While not everyone with multiple citizenships will reside in multiple nations, it has been said the industry can be viewed as a barometer of turmoil in the world with many investors seeing these programmes as a safety net.
The Caribbean has long been the dream vacation destination for westerners, and while the US, Canada and the UK have dominated the flow of investor immigrants since these programs were first introduced over 30 years ago, the Caribbean programs are unique in the world.
When considering the many faces the future can hold, the region holds significant advantages as a second home destination and sanctuary. The Caribbean citizenship by investment programs are particularly well suited to those not seeking an immediate move of their family, and can be an essential component in an international wealth preservation strategy.
CARIBBEAN CITIZENSHIP BENEFITS
With an established history of protecting the privacy of its citizens and low tax rates, many of the Caribbean islands are home to international banks and developed financial services sectors; and with the steadily increasing numbers of economic immigrants, opportunities exist for long term strategic investments into real estate, food, and energy.
On the most fundamental level, property and citizenship in the Caribbean represents security for a family should you need to move in the future, and the growing food production and clean energy sectors are blessed with the natural ingredients for true self-sustainability in the future.
A qualified investor and their family can be granted citizenship in as little as 90 days, and benefit from numerous privileges including visa-free travel to a multitude of countries, including the UK, Europe, Hong Kong, Singapore and 130+ other countries across the world!
In addition to some very interesting opportunities based around the principal industries in the host country itself, new business opportunities open up to new citizens as they can travel abroad more freely and expand their networks into the international elite, a great number of whom spend time in the Caribbean.
Caribbean Citizenship by Investment is open to the family members of the main applicant, such as spouse, children up to 28 years old* and parents over 65 years old. Second citizenships can offer access to world-class health care, education and an improved lifestyle.
*varies according to jurisdiction
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