The Caribbean twin-island Federation of St. Kitts and Nevis is quickly making a name for itself as a world-class luxury destination, with a rising tourism trade and more top-branded hotel chains than ever before. For investors, there has never been a better time to invest in the islands, and here we’ll explain why and how you can get involved.
Why is it worth investing in St Kitts and Nevis?
Perhaps the best reason to invest in St Kitts and Nevis now is the country’s strong economic forecast. In the first few months of 2018, economists expected an economic growth of 4.5% over the following year, thanks to a number of major capital projects that have launched since. The government has focused on making improvements to the public infrastructure, including building robust housing, boosting tourism, and improving public transport in the area. Investing in St Kitts and Nevis allows you to benefit from this growing economy, as well as the added perks that come to investors.
By making a sizeable donation to the twin islands, you are rewarded with a St Kitts and Nevis passport, as part of the citizenship by investment scheme. This in turn grants you all the benefits that St Kitts and Nevis citizens enjoy, including visa-free travel to 120 countries. Being able to travel freely around the world can be a massive benefit in itself, especially from a business perspective. Entrepreneurs that invest in the islands could find it easier to trade internationally with visa-free travel, and even take advantage of the skills and talent available on the island.
The government is dedicated to increasing the skills of the islands’ workforce, and launched the Skills Training Empowerment Programme (STEP) in 2016. The programme has focused on producing a skilled workforce through on the job training, and has already reduced unemployment levels in St Kitts and Nevis to a record low. Now, the islands are amongst those with the lowest unemployment rates in the Organisation of Eastern Caribbean States. As an entrepreneur, you can utilise this skilled workforce for your businesses, instead of relocating employees from overseas. By launching a business in St Kitts and Nevis, you can invest in the community and labour force, further boosting the economy.
Investment opportunities in St Kitts and Nevis
Before 2018, a key investment opportunity was the Hurricane Relief Fund. However, this was only a temporary option that launched in October 2017 in order to raise funds for the islands to recover following the horrific hurricane season that hit the Caribbean. Now, the Sustainable Growth Fund is available as an alternative, which provides funding for sectors such as health-care, education, alternative energy, infrastructure, tourism and culture, resilience to climate change, and entrepreneurship. By investing in the Sustainable Growth Fund, you are able to ensure the future of St Kitts and Nevis, by making the islands more independent. Improving on all these sectors can help the communities bounce back following any emergencies, such as another extreme hurricane season, allowing them to return to normal life as soon as possible, with minimal damage to the economy.
As an investor, you can also make a cash contribution to the Sugar Industry Diversification Foundation, which was launched to switch the economy from a “mainly sugar-based economy to a modern service-oriented economy”. The government’s dedication to creating sustainable industries on the island can help to boost the economy, by creating industries that can compete in global markets.
Under the citizenship by investment scheme, investors are also given the choice to get involved in real estate on the islands. By investing in qualified real estate, you’re given the choice to rent it out, helping you gain back some of your initial investment. With the rising number of tourists to the islands, investing in real estate offers a huge financial return alongside the rest of the benefits of investing.
Regardless of how you invest, you can enjoy all the benefits that come with a St Kitts and Nevis passport, while helping to boost the economy of the islands, safeguarding the community and your investment.