Today Peter Macfarlane recounts some of our post Antigua Event adventures in St Kitt’s and Nevis. As always though, we don’t travel just for the fun of it! We met lot’s of interesting people and uncovered some new opportunities…one of which Peter has written about below.
– Adam Richardson
A SUSTAINABLE COMMUNITY THAT OFFERS YOU A SECOND PASSPORT
(Note from Adam: Speaking of Passports – Peter Macfarlane’s eagerly anticipated Second Passport Report will be available soon in the Members Area…stay tuned!)
In the days following our recent Q Wealth event in Antigua and Barbuda, at which we talked to a number of the business and political leaders of that twin-island nation about its forthcoming economic citizenship program, we were invited by one of our event presenters, Robert Martin of NTL Immigration, to join him for the 20-minute hop in a light aircraft over to another twin-island nation: St Kitts and Nevis.
I had previously visited Nevis, where we do a lot of business incorporating LLCs, on a number of occasions.
This, however, was my first real taste of sleepy Nevis’ larger and more outgoing sister island, St Kitts – and I am pleased to report back that I liked what I saw.
The two independently-governed islands together make up one country, the Federation of Saint Kitts and Nevis, for the purposes of international relations (yes, that includes passports!)
Needless to say, I was on the second passport trail.
The deal is straightforward: to obtain citizenship of St Kitts and Nevis, subject to background checks, within a few short months, you must do one of two things: either donate money to the government backed “Sugar Industry Development Foundation” or buy real estate on one of the two islands.
Several of my consulting clients, short of time themselves, had asked me to go to St Kitts and report back specifically on what I thought of the real estate developments there. I was therefore very grateful to Robert for the tour.
We barely found time to set foot on a beach.
Although we saw some older buildings that had been converted to new apartments, I was frankly not too impressed. If I’m buying in the Caribbean for a premium price, I expect luxury – not construction reminiscent of the Costa del Sol in the 1980s.
Most of the decent real estate in St Kitts is being sold off-plan. I also make no secret of the fact that I’m not normally a big fan off-plan real estate. I’m one of those traditional guys who likes to be able to see and touch something concrete (literally in the case of real estate) and when recommending any course of action to clients, I do feel almost personally responsible, so I tend to err on the ultra-conservative side.
Robert’s company deals only with real-estate developments that have been vetted and approved for citizenship by the St Kitts and Nevis government. These projects, according to the government’s website, “are approved on an ongoing basis by Cabinet following application by the Developer and a comprehensive review by the Government.”
When you visit competing projects, you might see one or two buildings under construction. Kittitian Hill, on the other hand, is buzzing.
The developers, I can see, are passionate about their concept of building a sustainable community. They are not just paying lip service to the current trend for sustainable communities, but really implementing it and doing good business at the same time. This is something I like to see.At the end of the day, if you are considering buying into a sustainable community, and wish acquire a second citizenship for you and your family by doing so, and you want the best chances of good return and capital growth, I do suggest you look at Kittitian Hill.