St Kitts and Nevis real estate investment

How to buy a property in Saint Kitts and get a second passport

License IMA 2022

St Kitts real estate investment is a profitable deal. Having sold the object in 5 years, the investor receives up to 22% of the income. Rental income brings 4% per annum on average — and twice as much in the high season. 

An additional bonus for an investor who buys St Kitts and Nevis real estate can be second citizenship. With a country's passport, you can visit more than 150 countries without visas and gain other privileges.

Benefits of the St Kitts and Nevis Citizenship by real estate investment

The Saint Kitts and Nevis government citizenship program offers two investment options: 

  • the real estate purchase;
  • a non-refundable contribution to the state fund.

Since 2019, investors are increasingly choosing real estate. They are attracted by the opportunity to acquire a liquid asset and second citizenship.

Travel freedom. With a St Kitts and Nevis passport, the investor and his family can visit more than 150 countries without visas, including the states of the EU and Schengen, Great Britain, Singapore, and Hong Kong. They can also apply for a US B-1/B-2 visitor visa for 10 years.

Profitable investment. The investor gets a liquid asset that can bring rental yields. Besides, there is the opportunity to return the investment in 5 or 7 years, depending on the investment amount.

Tax optimisation. If the investor becomes a tax resident of St Kitts and Nevis, they will not pay taxes on income, capital gains and inheritance.

Other benefits. Also, the citizenship of St Kitts and Nevis can help solve other issues, including the following:

  • accessing new business opportunities;
  • getting benefits for children’s studies in the UK;
  • leaving the country of first citizenship in conditions of closed borders. 
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What property to buy to obtain St Kitts and Nevis citizenship

St Kitts properties that can be purchased under the citizenship program conditions are the following:

  1. $175,000 is the minimum investment in a share of a social or infrastructure real estate project in St Kitts and Nevis.
  2. Government pre-approved properties start at $200,000. The object can be sold 7 years after obtaining a passport.
  3. Government pre-approved properties start at $400,000. The object can be sold after 5 years.

Investors are more likely to invest in property in St Kitts worth $200,000 or more with a 7-year payback period. Housing from reliable developers or hotel operators with a worldwide reputation is in demand.

Real estate market in St Kitts and Nevis is solving investor’s main tasks

In the real estate catalogue of St Kitts and Nevis, investors can find project shares for $200,000 and luxury villas worth more than $2,500,000. The cost per square metre of housing varies from $5,000 to $8,000.

To buy a house inexpensively and obtain Caribbean citizenship, investors turn to licensed agents for government programs in the Caribbean.

The most popular requests are to choose a property with a minimum risk of non-return on investments, receive income from the rental of housing, and find a place for a family vacation. We talk about typical properties that solve these problems.

Task: to reduce the risk of non-return of investments to zero. The choice is to purchase a finished property to avoid delays in development or unfinished construction. It can be a share in a condominium, an apartment or a villa on the coast of St Kitts. The return on investment will depend on the amount.

The infrastructure on the island of St Kitts is more developed than on Nevis. Therefore, housing on the coast of St Kitts is in the most significant demand.

Condominium in a luxury hotel complex

St Kitts real estate

It is proposed to purchase apartments in a condominium: the share price is $200,000

St Kitts and Nevis real estate

1/4 studio area of ​​60 m2 or 1/6 1-bedroom apartment of 80 m²

 

St Kitts property

Full ownership costs $400,000 to $600,000 for 2-bedroom apartments ranging from 67 to 79 m²

St Kitts real estate citizenship

The hotel complex of one-bedroom and two-bedroom apartments is located 9 km from the airport

Task: to get the maximum return on investment while owning St Kitts property. Suitable ready-made housing for rent, which will be in demand among tourists. Renting out a home can bring up to 10% per annum. 

Here are two examples of suitable objects:

  1. The first villa is an expensive object. The cost of renting such a house can reach up to $40,000 per month. You can buy the whole villa or its share. Rental services can be taken over by the management company of the villa's condominium. The developer is also ready to rent a villa from an investor for sublease.
  2. The second option is cheaper — a complex of two furnished villas that look like Caribbean bungalows on the outside and inside, like a five-star hotel. You can invest in one of the two villas or purchase both. At the purchase stage, it is possible to fix in the contract that the management company will take over the sale of the object in 5 years.

Fractional ownership of the villa in Windswept Residence Club and a Caribbean bungalow villa

Saint Kitts real estate market

Investors are offered furnished villas in a condominium. Villas’ area is from 366 to 452 m²

St Kitts real estate investment

You can buy 1/10 of the villa for $495,000 or the whole villa for $5,000,000

Real estate market in St Kitts

Investors can stay in the villa for up to five weeks a year

St Kitts real estate

A 152 m² villa is for sale for $1,475,000. A house with an area of 164 m2 costs $1,575,000. Each villa has two bedrooms and bathrooms

St Kitts and Nevis real estate

The villas are decorated in West Indian Colonial Caribbean style

St Kitts real estate citizenship

The living room has an ocean view

St Kitts and Nevis real estate is growing in value by an average of 4% per year and is therefore considered a profitable asset. After 5 or 7 years of compulsory ownership, the investor can sell the property and return the investment.

Immigrant Invest conducts Due Diligence on developers whose properties participate in Caribbean citizenship programs. This approach allows us to offer investors the most reliable projects.

St Kitts real estate investment costs

Apart from the main investment, applicants pay a mandatory state fee and pay for Due Diligence and the application process. Expenses depend on the composition of the investor's family.

You can pay for a fast-track process of the application. In this case, the investor will receive a passport in 60 days. The standard period for completing all stages is from three to six months.

Costs under the real estate investment option

Real estate investment Main applicantMarried coupleMarried couple with a child under 16Married couple with a child
over 16
Family of 4 or more, including siblings or parents
Investment amount$200,000$200,000$200,000$200,000$200,000
State fee$35,050$55,100$65,150$65,150$65,150 

+ $40,000 per sibling

+ $10,050 per parent or child
Due Diligence$7,500$11,500$11,500$15,500$11,500 for a married couple 

+ $4,000 per person over 16
Fast-track application process(optional)$25,000$45,000$45,100$65,000$45,000 for a married couple 

$100 per child under 16

$20,000 per sibling or parent
Additional fees$800+$1,600+$2,400+$2,400+$3,200+
Total:$243,350$268,200+$279,050$283,050$293,900+

Real estate documents the investor gets

If the investor buys a share in the project, then a certificate of ownership will be issued in his name. In the case of buying shares through a trust fund that invests in liquid real estate, the investor will receive a certificate of ownership of shares in the trust.

When buying an apartment, villa or share in a residential property, the owner will receive a real estate registration certificate. 

St Kitts property management, income and taxes

Management. If an investor purchases an apartment or a villa, then the property can be rented out through a management company, which will receive part of the income in this case. 

The income distribution is prescribed in the agreement between the investor and the management company. At the same time, the owner will be exempted from additional expenses for maintaining the house. They will be deducted from rent payments.

Rental yields in Saint Kitts and Nevis are stable, but the rate depends on the season. Winter housing is one and a half to two times more expensive during the high tourist season.

3—5% per annum
Rental income in St Kitts and Nevis

The average cost of renting a 3-bedroom apartment in St Kitts and Nevis is $4,300 per month. Similar housing in other Caribbean countries can be rented for $1,500—2,000 cheaper.

After 5 or 7 years, the investor can sell the object for his price, which must be at least the original cost. Since the value of the real estate in the Caribbean grows by 4% per year on average, the investor receives a return on investment. Subsequent sale at a free price is not allowed for all investment objects.

Taxes. The investor pays property tax while owning it. Property management fees are often included in the purchase price. When selling real estate, the owner pays a stamp duty of 10% of the transaction amount.

0.2% per annum
Property tax rate

In most cases, St Kitts and Nevis program participants do not pay real estate purchase tax — it is included in the property's price. For comparison: investors who purchase a villa with a plot outside the citizenship program pay 10% for a special licence to buy land.

Frequently Asked Questions

Can foreigners buy property in St Kitts?

Yes, foreigners can buy St Kitts property without restrictions. 

You can also invest in the real estate market in St Kitts and Nevis and apply for second citizenship. 

St Kitts property can be purchased under the following citizenship program conditions:

  1. $175,000 is the minimum investment in a share of a social or infrastructure real estate project in St Kitts and Nevis.
  2. Government pre-approved properties start at $200,000. The object can be sold 7 years after obtaining a passport.
  3. Government pre-approved properties start at $400,000. The object can be sold after 5 years.
Are there any property taxes in Saint Kitts and Nevis?

St Kitts and Nevis investment program participants do not pay real estate purchase tax — property’s price. For comparison: investors who purchase a villa with a plot outside the citizenship program pay 10% for a special licence to buy land.

The investor pays property tax while owning it. Property management fees are often included in the purchase price. When selling real estate, the owner pays a stamp duty of 10% of the transaction amount.

How much does St Kitts and Nevis real estate cost?

The cost per square metre of tourist real estate ranges from $4,000 to $10,000. An investor can buy an apartment in a hotel or a private villa. Under the state citizenship program of St Kitts and Nevis, you can buy a share in the resort complex. The investor will become a project shareholder with the right to withdraw after 5 years.

How much can I earn renting out apartments in St Kitts and Nevis?

Investors purchase ready-made apartments with two or three bedrooms closer to the beach to profitably rent out housing. In this case, the rental rate will be maximum — closer to 5% per annum. 

In winter, you can rent out your home even more profitably since the tourist flow and the demand for good vacation homes increase dramatically at this time of the year. The rental rate in the high season can increase by one and a half times.

Can an object be registered under the citizenship program as the property of an investor's relative?

No, under the terms of the state program, only the main investor can act as the owner of the acquired object. Other family members can join the citizenship program.

What is the advantage of St Kitts and Nevis citizenship?

St Kitts and Nevis has developed infrastructure. Tourists from all over the world come here, so real estate is always in demand.

The Saint Kitts and Nevis passport gives you the right to visit more than 150 countries without a visa, including the Schengen states, the UK, Hong Kong and Singapore.

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Let’s discuss the details

Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.

Zlata Erlach
Caribbean Investment Program Expert
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