Buying a Property in St Kitts and Nevis as an American: Full Guide

Regardless of how much money one might have, the best way to preserve and even enlarge those funds is by using them for further investments. Now, we live in a world where you can invest in so many things, and cryptocurrency is highly popular, but buying properties is still the most promising. Of course, it’s not like we should invest and buy just anything, as there are some pretty risky moves even here, but buying a property in St Kitts and Nevis, for example, can be the best possible move you will ever make.

Why pick any Caribbean country for an investment?

Yes, the first thing for most people when someone mentions the Caribbean region is the pleasant climate, warm weather, sandy beaches, crystal clear water, relaxation, and nightlife, but countries in this region have much more to offer than just that. Namely, most countries have such exemplary programs and are well-connected to almost every other country in the world. It means that having a passport from some Caribbean country can mean that you don’t have to apply and wait to get a UK or Swiss Visa to go there. All of this makes doing business much easier and more convenient, especially today when making the right move at the right time has never been more important.

On the other hand, some people think that obtaining a passport from a Caribbean country is a difficult job, but, in reality, things are much different. That is also why buying a property in some Caribbean countries, and especially St Kitts and Nevis, is so popular today, as not only that you will get a great place where you can go and relax or even rent it, but you will also get a passport of this country. The process is yet another thing we need to mention, as one doesn’t have to wait for long in order to get citizenship, as the citizenship by investment program in St Kitts and Nevis is extremely fast.

Who can apply?

Literally everyone who really wants to invest and apply for this program can be an eligible candidate, meaning that you don’t have to worry that things and rules are more strict for those who live in America. Namely, this program is open for everyone willing to invest, have funds to do so, and is willing to get and file the proper paperwork. All in all, this is one of a kind offer, and this type of investment can only benefit you.

How much money you will need?

As for the total sum needed, every country in this region has its own rules and policies, but for St Kitts and Nevis, to apply for the citizenship by investment program, you will have to have approximately 150.000 dollars. Now, this sounds like too much for some people, but once you do just a bit of research and learn more about how promising such investment is and learn more about the benefits of buying some property in St Kitts and Nevis, you will start gathering money right away.

Now, that we have settled on that, let’s focus more on the specifics, and what one needs in order to buy some property here.

Choose the best one

The first step each person interested in buying property in St. Kitts needs to think about is finding the best possible property. It should be the one that will meet all their requirements, and since the offer is huge, picking the best one can be pretty challenging. Because of that, it can be a good idea to hire a local real estate agent who is familiar with the neighborhood, conditions, laws, and the property itself. It will surely make the entire process much easier, and the experienced agent will be able to reduce the price by negotiating. Of course, you can do everything on your own as most properties can be found online, but keep in mind that it will require more time and nerves to set everything.

Hire an attorney

Once the property is chosen, and the agreement is reached, it is time to hire an attorney to help you with all the legal stuff. It is not a must, but it is highly recommended because local attorneys know the laws, and they will check whether the contract is valid before you decide to sign it.

Deposit and taxes

Depending on the price of the dream house you intend to buy, it will be necessary to set aside enough money for a deposit, and in most cases, it is about 10%-15% of the total price. Paying a deposit is enough for vendors as it represents the guarantee that you will buy a house, and what is even more important, it is enough for you as it also represents the guarantee that the house will not be sold to another buyer until you get the Alien Land Holding License. Regarding that, it is never advisable to pay the entire amount until you get the Alien Land Holding License which allows you to live and work in St. Kitts. In order to get this license, it is necessary to pay a tax of 10% of the property’s total price and wait about two or three months. When it comes to other extra costs, it is always better to contact the attorney, but some of them that every person who wants to buy a house in St. Kitts needs to pay are about 2,5% for legal fees and 2% for assurance funds.

Final thoughts

As you can see, becoming a property owner at St. Kitts is much easier than many people think, and the benefits of making that decision are numerous. This amazing country gives a lot of opportunities to residents, and if you are considering moving there, now is the right time to choose your dream house and make your dreams come true. The entire process does not require a lot of time, and it is possible to become a legal resident after only two or three months after applying.