Businesses Benefit from Economic Citizenship

Many countries, such as St. Kitts and Nevis, offer foreigners something called Economic Citizenship. This arrangement means that in exchange for an application fee and an investment of a specific amount in an approved real estate or development project, the foreign investor is given citizenship and a St. Kitts and Nevis passport. This secondary citizenship can have many benefits and can give the investor a lot of freedom.

Economic citizenship particularly appeals to businesses who want to do their trading overseas and who seek to avoid the heavy taxes that are mandatory in countries such as the US. Economic citizenship benefits businesses in a great variety of ways.

Tax Breaks – Qualifying for legal citizenship of St. Kitts and Nevis means that individuals and businesses are eligible for numerous tax breaks. If your business earns any foreign income, you will have tax free status on that income while could make a big difference in the earning potential of your business. You will also not be taxed on capital gains and gifts, and there is no wealth or inheritance tax either. Many businesses find themselves stifled by the heavy taxation in the United States, and being granted Economic Citizenship can give them the freedom to increase the amount of earnings that they hold on to.

Real Estate Investment – When your business applies for Economic Citizenship, one of the requirements is to invest in an approved real estate development. This can be a great opportunity, because this property will give you a guaranteed return on your investment.

Access to the World – Holding a St. Kitts and Nevis passport will allow you to free travel to over a hundred countries throughout the world, and your business will be able to freely trade with Canada, the rest of the Caribbean and more. Economic citizenship opens up many doors and gives you much more freedom.

There are many reasons why businesses are showing interest in Economic Citizenship programs. There are many different options available to you, so do your research and determine if this type of program would benefit your business.