How to buy real estate property in St. Kitts and Nevis: There are all types of St. Kitts real estate for sale, starting with small seaside studios that range in price from $ 150,000 to millions for sale in traditional homes for about $ 500,000. Rental yields are also attractive.
According to local real estate listings, three-bedroom homes with pools, for example, have short-term rentals of $ 2500 to $ 3000 per week during peak season and $ 1200 to $ 1500 per week during low season.
Currently, there is also St. Kitts real estate for sale by the owner in the secondary market under the passport program. Some CBI investors have already crossed the holding period of five years and are now able to sell their assets. Since they have already obtained citizenship, they are not based on very high prices and find attractive offers for potential buyers.
In this case, CBI investors may still get their citizenship but face the danger that the construction may never be completed. It is therefore important to work with professional agencies that go into the project, do thorough due diligence, and provide transparent information for investors.
Foreign citizens must apply for an Alien Land Holding License to purchase real estate in 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 transaction cost is about 12% of the value of the asset.
Types of Real Estate Investment and How to buy real estate property in St. Kitts and Nevis
St. Kitts real estate is increasingly popular among homebuyers who want a luxurious climate, luxurious living conditions, and a soul-pleasing environment. St. Kitts has a wide range of real estate, from luxury villas and apartments to international hotels and high-end resorts.
The most interest comes from North America and the UK while other citizens are also applying; Such as Russians who are also buying real estate in St. Kitts. In recent years, citizenship has been encouraging sales through investment programs. Strong rental demand is also increasing returns on investment.
For interested investors, St. Kitts and Nevis offer a wide range of property types, as the government is actively approving projects that have a long-term positive impact on the economy of St. Kitts and Nevis. What type of property can an investor choose:
Real estate: such as condos or villas. They can be taken individually or hired.
Shares in Five-Star Resorts: An investor becomes a shareholder by purchasing shares and is entitled to a return on investment after the resort is commissioned.
Property in housing projects: Buying real estate that will be rented out by a managing company.
While property prices may vary depending on the property, it is worth noting that the citizenship of St. Kitts and Nevis is required by the investment program to require applicants to invest a certain amount of money to be eligible.
St. Kitts and Nevis property prices
Citizenship by Investment (CBI) Investors can choose to purchase government-approved real estate assets. The property can be purchased either individually or in joint ownership. After a required holding period of five or seven years, investors can sell the property and retain their citizenship.
One of the most affordable St. Kitts investment options is to buy stakes in luxurious hotels and resorts managed by world-renowned hotel management groups. In this way, investors are not required to manage the property independently and sometimes they have the right to stay in the hotel several weeks a year or receive rental yield. Shareholders have the privilege to take advantage of the hotel loyalty program, which includes room upgrades, early booking, and discounts at all chain hotels around the world.
What can be rented and its cost
One important thing to keep in mind while pursuing second citizenship is financial. You want citizenship by an investment program that not only gives you a strong second passport; But also a nifty return on investment. If you choose to get a St. Kitts and Nevis passport through real estate investment then you have two options for obtaining an ROI:
Give away your property; If you buy real physical property, you can rent it through a property management company or other routes like AirBnB. Property management companies typically charge around $ 150 per month, while the average rent for a unit is around $ 600 per month, meaning you can get a 3% annual ROI hassle-free.
ROI through shares; If you buy shares in a hotel or resort, you can make a profit in the form of the profits of the establishment. You don’t have any active management requirements, so you just sit back because the resort itself runs and cuts its profits. The ROI is usually between 2–7%, but will ultimately depend on the performance of the resort.
Citizenship by Investment Program
Citizenship through Investment Program (CIP) enables qualified investors to obtain second citizenship and passport for themselves and their families. Since the introduction of St. Kitts and Nevis Citizenship by Investments in 1984, the 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 St. Kitts and Nevis real estate to obtain a passport.
This entire process only takes two to four months. In the first month, the investor chooses the investment option and an authorized agent who takes care of the application and prepares all the necessary documents, and submits it to the Citizenship-by-Investment Unit (CBIU). In the second month, CBIU will review and approve the application. Once approved, applicants make their investments and obtain their passport and citizenship certificate.
St. Kitts and Nevis passports are one of the most powerful in the world. It is the strongest in the Organization of Eastern European States and offers its holders visa-free access to a total of 156 destinations worldwide, including the UK, EU, Singapore, and many more.
Know every Government Services and How to buy real estate property in St. Kitts and Nevis information at https://www.gov.kn/