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Residency in St. Kitts and Nevis

Residency in St. Kitts and Nevis

Foreign citizens who decide to immigrate to St. Kitts and Nevis through the golden visa program have various benefits. One of the most important is related to the tax advantages they can obtain. This is why it is safe to say that relocation here can been regarded as St. Kitts tax residency.

Below, our golden visa specialists explain the main St. Kitts and Nevis residency requirements and how those who move here are taxed.

The main options to obtain St. Kitts and Nevis permanent residency

There are several ways to acquire St. Kitts and Nevis residency in 2024 and one of the best known is the citizenship by investment scheme. The conditions to enter this program imply making a significant donation or acquiring real estate.

There is also the option of relocating here based on a work permit, which can also lead to permanent residency or citizenship. The decision is usually made in accordance with the interest of the applicant; however, most people choose to immigrate here based on investment.

Becoming a citizen of this insular state also implies becoming a taxpayer here, which is why before relocation many of our clients ask specifically for on the St. Kitts and Nevis tax residency requirements.

If you decide to relocate here through the golden visa/golden passport scheme, feel free to address our local consultants in St. Kitts and Nevis.

The easiest way to St. Kitts and Nevis residency in 2024

Buying a golden visa is without a doubt the fastest way to become a tax resident of St. Kitts and Nevis and obtain various benefits from this point of view.

The following options are available for those interested in 2024 St. Kitts and Nevis permanent residency by investment:

  • a donation of 150,000 USD for a single applicant (10,000 USD must be donated for the spouse and each child, and 20,000 USD are required per each additional distant relative);
  • real estate acquisition of 200,000 USD is also an option, and it comes with the condition of retaining the respective property for 7 years;
  • real estate purchase worth at least 400,000 USD is also possible, with the requirement to maintain the investment for at least 5 years.

Any of these options lead to citizenship, thus St. Kitts tax residency.

We can also advise on the other St. Kitts and Nevis residency requirements, however, we remind you that our main services revolve around golden visa schemes in the most appealing Caribbean states.

Requirements to apply for residency in St. Kitts and Nevis in 2024

Here are the main conditions to comply with when applying for residency by investment in St. Kitts:

  • the main applicant must be at least 18 years old;
  • the candidate must demonstrate that he/she has the resources necessary to make the required investment and that these resources are legally sourced;
  • the main applicant and dependents are in a good state of health;
  • having a clear criminal record is another requirement;
  • not have been denied an entry visa before applying for residency by investment.

You can rely on our local golden visa agents for support with the application.

St. Kitts and Nevis tax residency requirements

In order to become a tax resident in St. Kitts and Nevis in 2024, a foreign citizen must live in the country for at least 2 months in a calendar year. Also, one must obtain a tax identification number which is issued by the St. Kitts and Nevis Inland Revenue Department.

It is worth noting that the country’s government does not impose a personal income tax, which is what makes the insular state so appealing for foreign investors and citizens. However, it should be noted that this does not exempt those who qualify for St. Kitts tax residency from paying levies in their home countries. This mainly applies to countries that enable dual citizenship.

The main advantages of being a St. Kitts tax resident in 2024

Residency in St. Kitts and Nevis comes with many benefits, among which those associated with taxation are just a part of them. Among these:

  • there is no inheritance or gift tax here;
  • St. Kitts and Nevis does not levy a duty or capital gains tax either;
  • onshore companies, however, are subject to a corporate tax of 33%;
  • employment also implies paying social contributions by the employee (5% of the wage) and employer (6% of the worker’s wage).

A variety of residential real estate property alternatives are available in St. Kitts and Nevis for rent or purchase, encompassing all underdeveloped and developed areas with housing options such as condos and single-family dwellings. The cost of living in Saint Kitts and Nevis is considered to be a little bit higher compared to other Caribbean islands due to the necessity to import the majority of goods and retail, however, this is countered by the lack of a personal income tax and various tax exemptions. A value-added tax of 17% is applied to a certain range of goods and services.

For more information on St. Kitts and Nevis residency requirements, contact our local agents.