About Saint Kitts and Nevis

St Kitts and Nevis are two magnificent islands, which in 1967, along with Anguilla, became a free state associated with the United Kingdom. However, the federation of St. Kitts and Nevis achieved complete independence on September 19, 1983. Nevertheless, it inherited the British legal system. The population is approximately 56,500 (2018 est.), of which about 13,500 live on Nevis. The islands exist primarily from the offshore industry and are one of the Caribbean’s best-kept secrets in terms of structuring and holding wealth due to a combination of the following factors :

  • They have a British judicial system and predictable law which draws its source and inspiration from the British jurisprudence and the High Court of England, so you not only know what the decision of the domestic court is likely to be, but you have British trained judicial and legal workers to implement it.
  • They have the oldest and most prestigious Citizenship by investment program in the Caribbean, rivaled only by Grenada. 
  • They have a stable banking system and bank secrecy for citizens and residents.
  • They have one of the best, if not the best, trust legislations and trust systems in the world today and are one of the few jurisdictions left with a truly international and reliable trust regime. 
  • They have highly-rated captive insurance and offshore insurance legislation. 
  • They have recently enacted a new sandbox crypto legislation legalizing crypto holdings and making them tax-free in the proper structure.
  • The Nevis trust is the Rolex of trusts. It is absolutely the best possible structure and the most impenetrable trust in the world, probably only rivaled by the Cook Islands trust. Further, our NTL partners have been creating rock-solid trusts in Nevis for 25 years.
  • Finally, they have excellent, well-priced corporate and LLC regimes. They have recently enacted excellent multi-purpose foundations, one of the most flexible structured corporate products available today, combining all the elements of trust, foundation, and a Limited Partnership in one structure.

We at Mundo consider that high-net-worth individuals must look for those nations that still offer a calm social environment and where a creative businessperson is incentivized to grow. There are a few such places in the world, and one of our favorites is Saint Kitts and Nevis because it offers one of the best structures for asset protection.

Here, we will tell you about the beauty of an island where you can protect your wealth and your estate for the next generations. So, welcome to paradise in every possible sense of the word: Nevis is an offshore paradise and a Caribbean paradise. Come and enjoy our world of investments and tax structuring to find about these two lovely islands’ history and wonders. Welcome to St. Kitts and Nevis.

Mundo's freedom rating - Saint Kitts and Nevis

Mundo’s country rating is essentially a freedom index whereby our team of specialists rates a combination of freedoms which include freedom from violence and personal attacks, financial freedom from high taxes, business freedom from government interference, and especially from socialism and communism.

Political stability: 10

Foundations in St. Kitts and Nevis

Saint Kitts and Nevis became a synonym of asset protection. Everyone mildly familiarized with international business and finance knows that the Nevis trust is a privileged asset protection structure. Moreover, during these troubling times of statism and economic instability, more and more people are considering it.

What do the extremely wealthy have that those small middle-class businesspeople don’t have? Basically, tools to protect their assets. The world has told the middle class two lies: 1) That offshore structures are shady and illegal and 2) that only the wealthy can afford them. That’s not true, and Nevis proves it. In this article, we spoke about the Nevis trust, but here we come to show you an even more flexible structure to protect your assets in the offshore Caribbean paradise par excellence, Nevis.

Of course, we’re talking about Nevis’s foundations and, more specifically, the multi-form foundation. What does this mean? Simply, it is a structure that can take up different forms at different times and offers rock-solid asset protection. Thus, it is more flexible than a regular foundation and a trust while it offers the same level of asset protection.

Saint Kitts and Nevis citizenship

We have reached the most crucial section of this country page, and let us explain why this is so. We have pointed out extensively that two things have become vital for survival during the new world order, and these are (1) second citizenship and (2) asset protection.

These are the foundations of any successful family office in the 21st century. Without a secure second passport and an excellent asset protection structure, there’s not much to do. Luckily, Saint Kitts and Nevis offers us the highest standard for both. 
Why is Saint Kitts and Nevis one of the most sought-after CBI programs worldwide and why should you choose it among the five active Caribbean CBI programs? 
  • St. Kitts and Nevis Citizenship is the oldest and most prestigious citizenship program in the Caribbean. It is no wonder why many of the world’s wealthiest people are taking up St, Kitts CBI options. Plus, as it has so much time in the market it is widely known for its steadiness and won’t raise many eyebrows. 
  • It offers visa-free travel to over 160 countries including the UK, the EU, Hong Kong, and Russia. 
  • It offers virtually tax-free living for its tax residents.
  • St Kitts and Nevis also has a government-approved fast-track option that gives applicants a 60-day processing time for an extra payment of $25,000 for the main applicant and $20,000 per dependent. 
  • Despite its speed, prestige, and usefulness the passport is relatively inexpensive to acquire. In fact, the cost of a real estate investment begins at only $200,000. 
  • Furthermore, the government approved a $150,000 discounted fee for a family of four for applicants using the donation option. Before that, the required donation was $195,000 for a family of four. Due to its success, the government decided to keep that very same option available for another year. 
  • It is one of the most inclusive programs worldwide, meaning you can include your spouse and all dependent children, parents, grandparents, and siblings. 
  • We have an excellent real estate investment available which might rapidly earn your money back. 
Corporate Services in St. Kitts and Nevis

The corporate world has become tougher, especially regarding the establishment of corporations outside the country of residency. To prevent financing illegal activities and crime, organizations such as the OECD have risen and gotten powerful during the past years.

However, Nevis’s corporate regime remains highly competitive and robust. Despite OECD pressure, Nevis has managed to balance a well-regulated compliant regime and meet OECD demands while it maintains its traditional offshore advantages.

There are three main corporate structures in Nevis, each with its distinctive advantages, the LLC, the IBC, and the LP: 
-The LLC (limited liability company): 
  • Is one of the most popular asset protection tools worldwide.
  • It is used in many self-directed IRA structures and holding entities. 
  • Combined with a Nevis trust, the LLC becomes a Fort Knox of asset protection because neither the LLC owner nor the beneficiary of the trust is on a public registry.
  • Can be established in a couple of days. 
  • Is entirely tax-free. 
  • No substance requirements. 
-The IBC (international business company): 
  • It has pretty much the same characteristics as the LLC but it’s limited by shares. 
  • There is the added burden of demonstrating that the company is managed from overseas with an overseas office, otherwise, there might be tax liability.

-The LP (limited partnership): 
  • It must consist of at least one person who serves as a general partner and at least one who serves as a limited partner. 
  • The partners are exempt from all kinds of tax in Nevis. 
  • LPs don’t need to appoint auditors for their accounting and must only keep accounting records sufficient to explain their financial records. 
No country has been fully able to avoid the EU and the OECD’s international regulations. However, some countries, like Nevis, do maintain their tradition of offering financial incentives and tax benefits to those willing to establish a corporation there.

What do Nevis’s corporate structures offer to investors? 
Banking in Saint Kitts and Nevis

Nevis banking laws provide utmost secrecy for Nevis accountholders, making it one of the world’s prized jurisdictions. Furthermore, Nevis is a solid banking destination for those that might not want to look for exclusive banking destinations such as Switzerland, Cayman Islands, or Liechtenstein, but still want first-level privacy and tax optimization. 

For wealthy families and individuals, privacy is key. It is not a coincidence that the Rockefeller family has established their properties in such a fine structure of trusts that it is actually impossible, even for governments, to know what they own. We are not saying that everybody needs such a high anonymity level, but we show this as an example of how important privacy is for high and ultra-high net worth individuals.

Saint Kitts and Nevis actually offers this type of privacy through a solid banking system. The country is a CRS member since 2017, but again, so is practically the rest of the world. Nevis still maintains an important level in the current financial arena when it comes to privacy and asset protection. This level of privacy is highly competitive and a rare diamond in the financial world nowadays.

However, St. Kitts and Nevis is still a first-level banking jurisdiction for a variety of reasons: 

  • Under CRS, banks only report to the country of residency, but they don’t disclose information to anyone else nor the general public.
  • Saint Kitts and Nevis does not tax foreign income, and there lies your solution to this problem. If you establish an official tax residency in Saint Kitts and Nevis and receive income and dividends abroad, then the foreign banks will report to Saint Kitts, which won’t tax these profits.
  • You can enjoy utmost privacy in Nevis because, if you establish a bank account with a Nevis LLC or foundation, your name as UBO will be kept private. 
  • A bank account is typically opened within ten days after an application is accepted. No personal visit to the bank is required. 
  • Zero tax on foreign-sourced income. 
  • Multi-currency accounts and online banking are available. 
  • Banks are highly liquid. 
  • The local currency (Eastern Caribbean Dollar) is pegged to USD 1:2.70.  
Crypto license in Saint Kitts and Nevis

Mundo strongly believes that crypto and blockchain are the future of business and finance, although it is not clear yet in which way. But we do know that, in the same way that with the internet in the ’90s, those who understand how to surf the wave will thrive in the new era of knowledge. Thus, any businessperson or family office must consider a blockchain business as a potential part of its investment portfolio.

And, as crypto becomes more widespread on online platforms, stores, and meeting rooms, virtual currencies will become essential. Furthermore, blockchain technology, which is the crypto ‘pipeline’ is also increasingly used by banks, governments, and businesses worldwide to store information and ease processes. 

Many countries around the world have seen how important this might become in the future and are enacting crypto licensing laws that attract crypto millionaires to their territories. 

For this reason, and due to the blockchain technology’s power, we at Mundo recommend considering a crypto license that allows to operate a crypto exchange or running a blockchain-based business. Nevis has chosen to surf the wave. For this reason, they enacted crypto-friendly legislation so that a business can perform a variety of operations that we will discuss in this section. 

Saint Kitts and Nevis is one of the few countries to offer a crypto-friendly environment along with the characteristics we already know: economic stability, stable currency, safe political environment, business-friendly policies and excellent asset protection.

Financial licenses in Saint Kitts and Nevis

Many family offices seek to obtain financial licenses that allow them to establish a brokerage business, an EMI, or even a bank. Establishing your own bank for your family office is as old as the very same concept of a family office because Baron Rothschild himself used it. A bank or at least a financial institution gives you more flexibility and security to protect your assets and is an outstanding source of income. 

As usual, Nevis is an excellent option for a financial license. Why? Because it is not as expensive as an A+ jurisdiction (where it is almost impossible to receive one of these licenses) but is a reputable place, has an excellent financial infrastructure and, of course, is much more affordable. 

Nevis offers you financial licenses with budget-friendly costs and has regulations oriented towards protecting investors and promoting their businesses. There are different license classes issued under the Money Services Act, No. 26 of 2008, which shall authorize the holders to conduct the money services business as specified. 

Among all the benefits mentioned before, in general, we could say that doing business in St. Kitts and Nevis offers the following opportunities: 

  • It is relatively easy since it is an economically and politically stable jurisdiction.
  • It has more than 30 years of experience as an international financial center. 
  • This country has flexible legislation and a qualified pool of professionals with expertise in asset management, finance, taxation, banking, law, and accountancy.
  • There are no taxes on foreign-sourced income and LLCs don’t pay taxes in Nevis, meaning it’s excellent for offshore financial services. 
  • Most Nevis licenses are relatively easy to receive as long as you comply with the requirements, and are also among the most affordable worldwide. 
  • Nevis was one of the first Caribbean countries to enact a crypto and fintech sandbox to promote financial innovation within its territory. 
The almighty Nevis trust

Asset protection is key, and you must know it since you are reading this article. Great start. Therefore, you must be aware of how the trust structure has been used to protect and maintain wealth throughout the generations in countries with English common law. Modern offshore trusts are used to accumulate assets, as well as protect them from legal assault. In that sense, St. Kitts and Nevis has become a preferred jurisdiction for the establishment of trusts.

As you may know, our main product is the Forever Free Package, a full family office structure to protect and multiply your intergenerational wealth. A trust is the keystone of a family office, a tool that has been used by the wealthiest families worldwide to safeguard their wealth for generations to come. Why? Because when you set up a trust, your assets stop being legally yours, meaning that no angry creditor or greedy tax authority can lay their hands on it.

In order to be financially free, you mainly need freedom of movement (achievable with a second, third, and fourth passport) and asset protection (achievable through several structures of which the trust is the key and fundamental basis). If you want a whole asset protection strategy, we recommend our  Forever Free package article which describes this in detail. A trust and second citizenship are two of the five steps needed to achieve financial freedom and probably the most vital ones. And, in both cases, Nevis is one of the best choices.

Only a few structures in the world are capable of effectively protecting an individual’s or a family’s assets against all possible dangers (from governments to ex-spouses) and our favorite one is the Nevis trust. Our main partner and sponsor at Mundo has worked with Nevis trusts for a long time, and thus we know this structure in depth and detail. Why should you choose Nevis as your trust destination? 

Real estate investment in St Kitts and Nevis

With well-chosen real estate assets, you could enjoy predictable cash flow, excellent returns, tax advantages, and diversification. Therefore, we want to introduce you to the options and benefits offered by the real estate sector in St. Kitts and Nevis. This country is highly diversified and offers incredible opportunities. To buy St Kitts and Nevis property, several options are available for foreigners, and they can also obtain citizenship through them. In this section, we have prepared a brief introduction about two real estate options that can show the real beauty and great prospects in this sector: Fisherman’s Cabanas and 7 Flags club projects. 

This island country attracts people from all corners of the world for its breathtaking landscapes, pleasant Caribbean climate, and friendly environment for raising families and conducting great businesses. Nevertheless, we can mention a few advantages to invest in the Nevis real estate sector: 

  • Overall, real estate prices in St. Kitts and Nevis remain low compared to other Caribbean islands. There are all types of St. Kitts real estate for sale, but two of the most attractive ones are the Fisherman’s Cabanas and 7 Flags club projects. 
  • Buying property in St. Kitts and Nevis is not only an alluring investment. It can also become a pathway for you to get yourself and your family a magnificent second passport and citizenship. 
  • In the 2020 CBI Index, St Kitts & Nevis ranked number one or joint-first for offering fast and straightforward processing, reliable due diligence, and certainty. It also obtained top marks for not requiring applicants to travel and reside for any minimum period. 
  • As of April 2020, more than 75% of applicants choose property investment to get St Kitts and Nevis citizenship. Last year, 100 properties were approved for the Citizen by Investment Program. 
  • The investments in real estate in St. Kitts and Nevis provide substantial room for capital appreciation.
  • Due to the development of the region´s business environment, acquiring a property in the Federation can also become a good option for retirement in the long term if that is what you wish. The benefits of investing in Nevis real estate include passive income, diversification, and leverage. 
Citizenship and Residency

One may ask what possible connection second citizenship has with the COVID-19, and Mundo Offshore can now officially add another reason why you should acquire second citizenship: yes, pandemics like the coronavirus.

Starting with this reason, here are the 5 most important reasons why you should seriously consider applying for second citizenship.

REASON 1: Pandemics

During official pandemics or other states of emergency, Martial Law allows countries to officially remove all human rights protections in what they call a state of emergency. Martial Law or state of emergency legislation can be used to close borders and stop citizens from traveling.

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