The promise of citizenship to the investor is not a new idea. It first appeared in 1984, and it is still relevant today. What is the secret of its high demand? The answers lie in several advantages:
- the availability of travel to countries without the need for visa documents;
- favorable conditions for doing business;
- the possibility of retaining a “basic” passport.
These are all benefits that participant in St. Kitts and Nevis citizenship by investment program receives.
The interest for the offer is not decreasing, and it is easy to explain it. Thousands of investors have already appreciated the advantage of obtaining a second citizenship in one of the Caribbean islands. Entrepreneurs value the St Kitts business opportunities because developing a business is much easier.
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Attractive business opportunity
The variety of areas for business activities makes people think seriously about choosing the right one. When it comes to doing business in St. Kitts, the main focus is on tourism. Summer in the country lasts all year round, and the ocean surrounds the islands.
In addition, there are many ports located in the cities. Sailors spend some time on land, so they look for vacation accommodations. Because of this, developing the tourism industry in St. Nevis is extremely beneficial after obtaining an official passport.
According to a specialist of the company Immigrant Invest Victor Esik, the development of this area is related to several factors:
- beautiful landscapes of the islands attract more than 150 thousand visitors;
- air traffic is increasing by 15.3%;
- cruise ships often stay in ports with 1 million people.
The sector’s rapid development in recent years is associated with the fact that the country is gradually opening up to tourists from an unexpected side. Neighboring countries are increasing the number of flights to St. Nevis and helping develop the tourism sector here.
There is no loss if you invest in real estate. If you intend to re-sell your apartment, the price will not change by more than 10%. In this way, the return on investment is carried out fairly quickly.
Opportunities in the manufacturing sector
Despite the fact that the lion’s share of profits comes from the development of the tourism industry, do not neglect the importance of the production sector. Experts are convinced that the industry will continue to thrive. This will allow business owners to start a business in St Kitts and develop it further.
Exporting goods to other countries also looks promising. St. Kitts is now one of the top exporters of electrical goods:
- broadcasting equipment;
- electrical resistors;
- three-phase transformers.
Other improvements in the manufacturing industry are expected in the near future. The launch of the National Manufacturing Strategy shows that the government is interested in increasing productivity. An increase in international market share is also on the list of interests.
To this end, efforts are being made to sign lucrative agreements with other countries. For example, trade with Brazil will help increase market coverage and reach a new level. If you intend to direct your funds to another industry, you can find other options at https://immigrantinvest.com/blog/citizenship-of-grenada-for-business-en/.
Agricultural sector development
St. Kitts’ efforts are focused on improving industries that are already generating quite a large income. Agriculture is one of them. It is a priority for the country to export products grown for sale. In this way, exporting brings in a lot of income. The main crops that are shipped to other countries include:
Products are grown in the largest volumes, which positively affects the economy. Since the market segment cannot be considered saturated, new entrepreneurs can take a certain place in the industry. Agricultural production grows every year. Last year’s increase was 22.5% compared to the previous year.
Taiwan’s financial support contributes to the efficiency of starting a business in St Kitts. The fruit and vegetable sector is growing thanks to financing and payment of taxes. Investors can increase their profits if they decide to develop the agricultural industry.
Opening an offshore company
Entrepreneurs believe it is a profitable decision to open such an enterprise in St. Nevis, and they are not mistaken. The country supports doing business with St Kitts and Nevis residents and citizens in every way, creating a comfortable environment for every sector of the economy.
It is worth paying attention to this offer because of its affordable cost. Opening an offshore company will cost 2 thousand dollars, which is the lowest price in the world market. For this reason, much attention is paid to this opportunity to develop your businesses in St Kitts.
To register an offshore company, it is necessary to comply with several rules:
- Finding an agent for registration of the company. An administrative license and a registered office are the main characteristics of a reliable agent. It will be difficult to do without outside help, so it is worth examining the offers.
- Brand registration. Creating a unique name is the second important requirement for residents. St Kitts and Nevis company registry under the existing name is not allowed, so take care of the uniqueness of the organization’s name.
- Presence of shareholder(s). It is impossible to set up a corporation without a shareholder, a requirement of Caribbean Island law. The shareholder can reside anywhere in the world and be either a legal entity or an individual.
- Creation of a management department. The formation of an organization without a director is not allowed. It is necessary to take care of the availability of a person or entity willing to take on the responsibilities. Remember that a secretary position is also a must.
- Legitimate activities. Every organization must go through the licensing process and obtain the necessary permits. This will require savings, a bank account, fund management, insurance, and more. The details are reported by a lawyer, who will provide the necessary legal support.
- The physical address of the company. Local agents often offer to use their offices as a representative office of the company. You cannot do without a legal address because the government sends official letters to company owners.
- Capital. The development of a project requires a share capital, which is used to cover the various expenses of the corporation. The minimum amount of capital is set by law, so it is necessary to have information about the sufficient amount of funds.
If the conditions are met and the official proof is provided, it will allow you to open a company in Nevis and conduct legitimate business activities. Lack of proof leads to rejection of the application, so a preliminary consultation will help avoid bureaucratic red tape.
Accounting and auditing are not on the list of mandatory attributes of a company. However, Nevis law requires that records be kept nevertheless. The LLC and IBC are used for this purpose. In this way, the activities of the company will be legal.
Featured Photo by Phil Hauser on Unsplash