Do you plan on moving sometime soon to a warmer climate and more pleasant part of the world? Have you always thought of visiting the Caribbean? The truth is that St Kitts & Nevis is a popular tourist destination in the Caribbean attracting more and more visitors every year. You might want to buy a property there if you’re someone who likes to travel and you’re looking for a summer house on the perfect getaway spot. Does this sound like your future goal? Are you interested in the property? Keep on reading and find out all there’s to it down below.
What are the different types of properties?
Caribbean islands are so unique with their climate, along with the attractions that they have to offer. You can find a ton of beachfront villas, condos, custom homes, and gated and resort communities all throughout the island. In fact, singles, big groups of friends, or families can enjoy a property within this region. There is also a better and more developed infrastructure for better living, including restaurants, bars, banks, and sports centers. What more could you ask for?
What to do if you plan on buying a property?
If you are a foreigner it is your lucky day since nothing can stop you from closing a good deal with St. Kitts & Nevis locations. If you’re not too sure how to purchase a property it is always recommendable that you book a real estate agent and get someone who will answer your questions on the spot.
Most vendors normally ask for a 10-15% deposit to book the property.
The truth is that ever since 1984, St Kitts has had a Citizenship by Investment program that was allowing foreigners to invest in the growth fund or in a system that would allow for an exchange to receive their passport. As a foreigner you can either:
Apply for the Alien Landholding Licence which is required for all non-nationals wishing to buy property
You can buy a pre-approved property with the help of the program we’ve previously mentioned
You can get a property in joint ownership, and invest a minimum of $200,000 for at least 7 years
Lastly, you can buy a property as a single applicant and you will have to make an investment of $400,000, and you’ll be allowed to see after 5 years go by
How to acquire the property the right way
Before you start making big or small purchases make sure that you follow these steps.
Step 1: Look for property and make an offer upon finding the right one. Wait for your offer to get accepted and see if you can get a lower rate and an amazing deal.
Step 2: You will have to pay around 10-15% of a deposit after just signing it. Be prepared to have this cash with you and be prepared to wire it.
Step 3: be patient since it takes 2 to 3 months to get approved and amounts to 10% of the property value. Get the right certificate of title to become a legal owner.
What are the costs like?
There are always hidden and additional costs that you have to think about and be aware of. You’re looking at 10% fees to obtain the license, legal feels it can be up to 2,5% and land assurance is around 0,20%. Nothing is too pricey once you take into consideration all the pros and benefits of becoming the rightful owner.
Should you get St Kitts and Nevis property?
Making an investment or a purchase of any type always comes down to your personal preference. The truth is that your budget and savings will play a huge role in making this commitment and this purchase. For most people and men or women, a property of this type means getting a piece of an island which is a true treasure and a true jewel. Warm climate, waves, happy people, what more can you ask for? The biggest perk and the best reason to make this purchase? With a St Kitts and Nevis passport, you get favorable tax exemptions and the freedom to travel to more than 150 countries visa-free! True travel lovers will enjoy this perk and this option the most.
What is the tax procedure like?
Property taxes in St Kitts and Nevis are determined based on the market value of the property within the given year of when you plan on making your purchase. As you know, this can change. Taxes can range from 0.2% to 0.3, but St Kitts and Nevis property options are multiple. Talk to an agent to find a deal that best suits you.
Why invest in St Kitts & Nevis?
For any future or potential investors, here is what you should consider and know about St Kitts & Nevis:
- A) You are looking at affordable investment amounts all over the place
- B) A ton of investment options and programs that you will easily payout
- C) You can do it all remotely, no reason to travel back and forth
- D) You are investing and looking at a country with a good economy and a low crime rate, perfect for families
- E) You can get a new passport in less than 60 days
All that you should know about St Kitts & Nevis citizenship by investment + how to make an inquiry
Does all of this sound interesting and appealing to you? If so, why not consider making a purchase? The truth is that you can find a real estate that suits your personal preference. If you are lucky enough and quick you can actually run into some great deals. Do you want a bit of help and guidance for making this big move? Want to get an investment and apply for a passport for the whole family? If so, get all the help you need and enjoy fast service and reliability with https://imperiallegal.com/st-kitts-nevis-citizenship/. Get in touch now to discuss your requirements and have all of your questions answered.