Beware to Choose an Authorized Agent to Apply for St. Kitts and Nevis Citizenship Program
St. Kitts and Nevis was chosen as the best Citizenship by Investment Program in the world along with Dominica. The revenue from Saint Kitts and Nevis CBI program amassed a total of $15 billion until 2019. And as the demands for Saint Kitts and Nevis passport increases, many new investment migration agencies are opening, promising simple, affordable routes to new passports but they lack the experience and the knowledge necessary to properly handle an application.
St. Kitts and Nevis was ranked the best citizenship investment program in the world by the Financial Times PWM on August 18, 2021. The eastern Caribbean country scored a perfect 10/10 on due diligence and integrity, ease and efficiency of application processing, family-friendliness, and travel or residency requirements, and an almost perfect 9/10 on the level of investment required and program profile.
St. Kitts and Nevis, which established its citizenship by investment (CBI) program in 1984, came before Antigua and Barbuda, Grenada, St. Lucia, Austria, and Vanuatu in the new 2021 CBI Index from Professional Wealth Management providing the most authoritative global ranking of the world’s 14 CBI schemes. This year, St Kitts and Nevis also achieved a perfect score in the Family Pillar, thanks to changes that allow siblings to be included in an application.
Les Khan, CEO of St. Kitts and Nevis Citizenship Investment Unit, said: “Our top place global ranking in the 2021 CBI Index is independent recognition of the enduring quality of the market-leading citizenship investment programs that St. Kitts and Nevis offers the world.”
While 2020 and 2021 have been difficult years for everyone, the launch of new investment products and a limited-time offer ensured that St. Kitts and Nevis still get on the top of the game among CBI programs. On the other hand, St. Kitts and Nevis’s COVID-19 vaccination program is the best by the head of the population of any country in the eastern Caribbean, and as vaccination continues the country prepares itself to welcome the world back to its beaches and seas.
“However such a powerful second passport must not fall prey to fake agents.” Said Justin Hawley, the first Ambassador of St Kitts and Nevis to the UAE Speaking to Khaleej Times. “The interested investors must do diligent research to check for valid agents.” He said.
“We constantly get phone calls from prospective citizens asking about St Kitts and Nevis and the program. They ask us about the agents. We stay neutral and don’t recommend any agents. But we advise them to choose an agent, who is licensed. It is important,” added the former Consul General of St Kitts and Nevis Consulate in Dubai on the sidelines of the International Residency and Citizenship by Investment Expo held in Abu Dhabi.
Meanwhile, Les Khan, said that certain agents have been spreading fake news to bring disrepute to the country and the programs.
“I am aware that certain agents are trying to get clients to move away from St Kitts and Nevis by telling them that their passports will be taken away after 10 years, which is not a fact. People will not lose their citizenship after 10 years. The government will never do that,” Khan added.
Covid-19 lockdown and travel restriction have led to greater awareness among people in the region for the need for a second passport, which ensures global mobility and safety. Les Khan, said the interest level from people in the Middle East soared during the pandemic. “A couple of years back, it was 60 percent China and 40 percent Middle East and Russia. But over the last 2 years, it has flipped with 60-70 percent in the Middle East and 30 percent in China.”
This high demand has also tempted the fraud to take advantage of the investors. Local media reports in St Kitts-Nevis said the economic citizenship abuse is estimated to have cost St Kitts-Nevis between $30 million and $130m. Similar claims of fraud have been reported by some other Caribbean islands.
Although it is not necessary to meet your consultant in order to commence business, it is still important to do your checks and due diligence on who you want to work for you. Experts recommend asking about any business you are thinking of engaging to represent you for residency or citizenship through investment beforehand by due diligence checking:
- Is your agent authorized?
- How long your agent has been in this industry?
- If your agent has had experience in the particular program,
- Does your agent offer you a full contract and detailed quote with all costs included,
- Whether or not your agent insists on taking full payment themselves rather than allowing you to pay the government or developer,
List your answers to these questions and narrow down your agency’s list to make the final decision.
For more detailed information on the requirements for obtaining Saint Kitts and Nevis Citizenship by Investment, please contact one of our advisers in the UAE, Denmark, or Canada, we will accompany you and your family until you obtain Saint Kitts and Nevis Passport.
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