Saint Kitts Full Podcast
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LifestyleTranscript
00:00Hello and welcome. Our episode today takes us all the way to St. Kitts and Nevis,
00:05known for its mountains and beaches. And joining us here today is His Excellency Calvin St. Just.
00:12Your Excellency, thank you so much for being with us here today.
00:15Thank you, Talha. Thank you for having me.
00:17First of all, I want to congratulate you for your appointment as Chairman of the Board of Governors
00:22of the St. Kitts and Nevis Citizenship by Investments Unit.
00:25Can you please share what this role actually means to you?
00:28Thanks again, Talha. Again, it's an honor to serve in this capacity.
00:32The role represents an opportunity for me to contribute to the growth and development
00:38of our beautiful nation, St. Kitts and Nevis.
00:41One of the key things I'm committed to in leading the Citizenship by Investment program
00:46is ensuring that we demonstrate and lead with a level of integrity and excellence.
00:52Having doing this, the intent is for me to allow the opportunity to promote the economic development
00:58and the community welfare that is core to our foundation.
01:02If you could please explain to us the key features of St. Kitts and Nevis Citizenship by Investment program
01:08and the Citizenship by Investment unit.
01:11Yes, absolutely. So let me start with the program.
01:15So the St. Kitts and Nevis Citizenship by Investment program, what it does,
01:20it provides investors and their families the opportunity to invest in St. Kitts and Nevis
01:28in return in getting their citizenship.
01:31The program is quite noteworthy. It's the longest lasting one.
01:36It has been around since 1984. That's 40 years old.
01:41We consider ourselves the premium standard.
01:45When we talk about the premium standard, it really guarantees what we call the sustainable investment opportunities,
01:52greater economic freedom and increased mobility for successful applicants.
01:57However, it's important to recognize that the program, it extends beyond just the luxurious lifestyle.
02:05The program provides the opportunity for investors to support in the community focused projects
02:13that we have. And so by participating in these initiatives,
02:18investors not only gain new opportunities for themselves,
02:22but also facilitate the economic growth within St. Kitts and Nevis for our local citizens.
02:29And so what it gives is a mutual benefit both to the investor, but also to us as citizens of St. Kitts and Nevis
02:38to ensure that we continue to develop, we continue to move toward our sustainable island state agenda.
02:46Now onto the CIU unit, which is a critical, what I consider as the engine of the program.
02:54The unit, or the citizenship investment unit, or in the acronym word CIU,
03:02it's really the engine or the, I should say, the operation that facilitates the application process for citizenship,
03:13ensuring there's transparency, ensuring that we have the right due diligence process.
03:20This is what the unit does.
03:23Now, with the recent citizenship investment of 2024, we had a significant reorganization.
03:33We transitioned the unit from a government entity into a statutory body,
03:40with the advent of having leadership of new board of governors to provide that level of oversight.
03:48This is significant. Truly, it demonstrates, one, what the government has as a sort of earmark
03:56in terms of giving the CIU the authority to make decisions, obviously within the confinement of the laws and regulation,
04:07and moving in towards a more business-oriented customer service, providing quality, a level of professionalism.
04:15That's really the agenda of the board of governors, as myself as chairman,
04:20to ensure we have those principles, six principles, as I outlined, as part of my transparency, communication,
04:29good governance, sustainability, and being one of the global leaders.
04:35We want to make sure that those are the core principles here in our CIU unit.
04:41That's really the gold standard.
04:44Those are the two differentiations where we have the actual program and the engine, as I said,
04:50the CIU that actually facilitates the execution or the processing of the application.
04:57If we can discuss what makes the St. Kitts and Nevis Citizenship by Investment Program stand out,
05:03what are the unique selling points, and why do applicants prefer it over other options?
05:09Absolutely. I think that is a critical question.
05:12To ensure that we share what is different, what is unique, I'll walk you through what our program offers.
05:25There are really four primary investment avenues that are available under the St. Kitts and Nevis Investment Program.
05:34Firstly, we have what's called the Sustainable Island State Contribution.
05:39What this is, this is a non-refundable contribution starting at the amount of $250,000 for a main applicant or up to a family of four.
05:53This is a critical area because, as I said, up to a family of four, it allows for inclusivity.
06:00Now, you would ask, well, what does the nation do with the fund?
06:05The funds are directed towards supporting our economic and social development agenda in St. Kitts and Nevis.
06:13Then we have what's called the Developer Real Estate option.
06:19Now, what this is, it allows an applicant to invest in an approved real estate that stands at an amount of $400,000 under this option.
06:33The investment, now this is a critical bit, this investment is resellable after seven years and is paid directly to the developer.
06:44That's a critical piece because we know there are investors, as we said, who wish to have an option to invest in,
06:51but also there's always an opportunity to then have an option in future time to what we would say potentially leverage this as well.
07:02We allow an option for you to resell after seven years.
07:07Then what we have is called the Private Real Estate option.
07:12What this is, it gives you an investment option of a minimum into whether it's a condominium unit or a share unit in the amount of $400,000.
07:24This is important as well.
07:26As we know, individual perhaps they simply want to invest in a luxury condo or perhaps a unit for vacation time and so forth.
07:37Then we also have what we said from a family perspective.
07:41For the family dwelling, that amount of investment is amount of $800,000.
07:49Then a critical piece is the fourth option.
07:53This is the Public Benefit option.
07:56This really allows for the government to achieve its capital goals.
08:02The minimum for this is $250,000 in an approved public benefit option.
08:08For example, whether it's an airport, a school to support some of these capital projects.
08:14This really sets Sinkit's and Navy's CBI program apart from many others.
08:20It's strong reputation.
08:23We have been the longest.
08:26It's 40 years and 40 years in beautiful Dubai.
08:31That took 30 years.
08:33We've been 40 years strong.
08:36Our due diligence process.
08:38We want to ensure that we maintain the reputation of our program.
08:43We have a really strong and rigorous due diligence process to protect the reputation of Sinkit's and Navy's.
08:51As a whole.
08:53These are really the key factors that we have as part of our program.
08:58Ensuring that we stand out as a competitive program under the Sinkit's and Navy's CBI options.
09:06Can you please discuss the importance of community-focused investment within the Citizenship by Investment program?
09:12When we talk about community-focused investment, this is crucial and critical.
09:19For the agenda of the government.
09:22It not only enhances the quality of life of our citizens.
09:28But what it does, it ensures that the benefits of the program are felt in the entire nation.
09:34By supporting projects that are aligned to our development goals, we can drive economic growth.
09:41We create jobs.
09:43We help improve the public services.
09:46Ultimately what it does, it provides a level of benefit.
09:49Sinkit's and Navy's as a federal nation as a whole.
09:52If you could tell us how much time is required to complete the procedure to obtain a citizenship.
09:57For people who are interested to obtain a citizenship.
10:01How much time? I think everyone would want to know that.
10:05Can an applicant have a dual citizenship as well as having Sinkit's and Navy's citizenship?
10:13What I would say, from the moment the application is submitted.
10:17What we call a proven principle.
10:20You can expect a processing time between 120 days to 180 days.
10:26Again, all this depends on the efficiency, the cleanliness of the applicant.
10:33There's no issues.
10:34The other area in terms of answering the question.
10:37As you said, a number of individuals that we've heard are asking.
10:40Can we have a dual citizenship from Sinkit's and Navy's?
10:43The answer is simply yes.
10:45Sinkit's and Navy's, what we do.
10:47We allow dual citizenship and multiple citizenships within our federation.
10:53This is a core flexibility that we see many of the applicants find attractive in our program.
10:59Definitely.
11:00I mean people who would want to still have their own passports or citizenship.
11:05But still want to have something on the side.
11:08I think this is very interesting.
11:10I mean not all nations provide this.
11:12Correct.
11:13Speaking of investment.
11:15What is the minimum investment that is required to obtain the citizenship?
11:20The minimum investment, and I've touched on this earlier on.
11:25It would be part of our main option of the sustainable island state contribution.
11:31Of an amount of 250,000 US dollars.
11:34I have to be clear because I think there are additional fees.
11:37As you would understand as I stated before.
11:40We have to go through a very rigorous due diligence.
11:43So there are certain fees associated with that.
11:45We do have some processing fees as well.
11:48And then I would say to sum it up.
11:50Once the application goes through the process.
11:54Then we have what we call post approval and government fees.
11:59But in totality the minimum contribution starts with the $250,000.
12:05As part of our sustainable island state contribution.
12:08And then that gives you sort of the entry point into the program.
12:13This is just for a single applicant we're talking right?
12:16Well the main benefit that we have as I stated.
12:19$250,000 for one main applicant.
12:22Or you can have up to a family of four.
12:27That is the main applicant, the spouse and two of the dependents under the age of 18.
12:32So they can have up to four family members?
12:36Well for the $250,000 contribution.
12:39And then we have additional fees associated with each addition.
12:44You know one of the things I would say is.
12:46This is one of the benefits that we offer.
12:51It's important to understand this investment contribution.
12:55Is not just a benefit just for the nation of St. Kitts.
13:01We see this as a holistic aspect.
13:03We wish to have families on the journey.
13:06I think that's very important.
13:08And therefore we structure our program to ensure that level of inclusivity.
13:13Whether it's a main applicant by themselves.
13:16Great.
13:17But we understand there's families.
13:19So we wanted to make sure that we allow the program to have that inclusivity approach.
13:24So what are the conditions for citizenship and the due diligence requirements when an applicant wants to apply?
13:31What we say is you must be at least 18 years of age.
13:38You must have made and agreed to make what we call a legally prescribed investment.
13:45As outlined in terms of one of those opportunities.
13:48One of those options from a contribution perspective.
13:51It's important that the applicant meets all the relevant requirement.
13:56And I stress upon this because the program can run efficiently.
14:03With the end goal of the applicant receiving what they've initially invested in.
14:10If all the requirements are appropriately and accurately set at the beginning.
14:17This makes the process much more easier.
14:20And then obviously we then wish to offer the applicant that wonderful opportunity of that citizenship within St. Kitts and Nevis.
14:29Talking about validity.
14:31What are we talking about?
14:33What is the validity of citizenship and the passport itself once a person gets it?
14:39Yes, and as you said we were the longest.
14:42But also we wish to remain at the premier standard.
14:46That is important.
14:48And this goes actually when you think about citizenship and passport.
14:52And I think just to clarify.
14:55St. Kitts and Nevis Citizenship by Investment Program and the passport application process.
15:02These are two separate aspects.
15:06Once an investor has received their certificate of naturalization.
15:13Then they may apply for a passport.
15:17The passport is issued under the Citizenship by Investment Program.
15:23And this is valid for a period of up to 10 years.
15:26Now on the other hand, citizenship obtained through this program is granted for life.
15:34And you have the opportunity to pass it on to future generations.
15:39One of the other key areas and going back to what makes us unique.
15:44There is no requirement to reside in St. Kitts and Nevis to maintain your citizenship.
15:50And this is critical.
15:52Where we understand that it's sometimes a scenario where an individual may not have.
16:03And so just to fly in and spend the week.
16:07And it's quite costly and as I said it's inclusivity.
16:11So we've made the program as efficient as possible.
16:15Where there's no requirement to reside in St. Kitts.
16:17However what we say is many investors find themselves captivated as you shared.
16:22And even though we have no residency requirement.
16:27They still wish to fly down and enjoy and visit the island.
16:32And experience all the unique offerings that we have.
16:35That is, please sign me up right now.
16:37Absolutely.
16:39Do you think St. Kitts and Nevis Citizenship by Investment Program.
16:44Is an ideal opportunity to attract high network individuals.
16:48Corporates and entrepreneurs.
16:50Yes.
16:51As a business person myself and having been working on Wall Street for a number of years.
16:59What I would tell you is investors and corporate entrepreneurs.
17:05The main thing they look for is where can I invest in a safe and stable environment.
17:13And this is what St. Kitts Citizenship offers.
17:17You have access to a stable political and economic environment.
17:21The other area is there's no personal income tax.
17:25That's critical.
17:26There's no personal income tax.
17:27That's your money and we're not going to tax it.
17:30There's no wealth tax as well.
17:33We know there's certain jurisdictions that levies a certain number of taxes on individual's wealth.
17:41We do not have that.
17:42And what we see as most important as generation sort of moving along the line.
17:49We do not have inheritance tax.
17:52And so you've worked hard.
17:54You've become very successful as an entrepreneur.
17:58And you've done exceptionally well.
18:01And now you wish to pass this on to your future generation.
18:05We didn't feel it's right for us to tax you or tax your future generation.
18:13So there's no inheritance tax.
18:15And then as I said, this really goes back to the ability for family members to be part of the application.
18:22So it really creates a lifelong citizenship process.
18:25And as a citizen, you have the right to reside.
18:30And this is on your tribe.
18:31You have the right to reside.
18:33You have the right to work and study in our beautiful country.
18:38And so we always welcome individuals who wish to take that option on.
18:45As in obviously a beautiful tropical island and the very laid back style.
18:51That's important.
18:53One of the things that we have also made sure to do as we are promoting our program is to give individuals the opportunity to come and experience it themselves.
19:06It's almost to the extent where do I really want to be part of the nation?
19:11How do I get an opportunity to see?
19:14So we have a new event that's called Investment Gateway Summit.
19:19The inaugural 2024 Investment Gateway Summit.
19:22It was a tremendous success.
19:24What it did, it brought citizens and as you said, it brought citizens and potential investors, our potential citizens from around the globe to visit Sinkit for a five day networking event.
19:40It allowed us to showcase what Sinkit has to offer from an investment perspective.
19:46We engage in really stimulating dialogue and discussions and there obviously we give you the opportunity to really enjoy Sinkit.
19:56Recreational activities such as rum tasting or perhaps you get to see the island on a train, see certain aspects around it.
20:05But gives potential individuals or investors or potential citizens and citizens the opportunity to really see the best of Sinkit and Nevis.
20:15So we had that done in 2024 and we thought it was a great success.
20:18And therefore now we are going to actually have one and offer for the audience who may be listening an opportunity in 2025.
20:26And so this summit is also going to take place in 2025.
20:32It's really serving as what we call a homecoming for citizens of Sinkit and Nevis or we call Kittitians and Nevisian.
20:42That may be a tongue tie or anyone who is interested in exploring investment opportunities in the Twin Islands.
20:49And this will be held on May 31st, 2025 until the 3rd of June next year.
20:58I would love everyone listening us here today to please attend the summit and I will be one of them definitely.
21:05Looking forward to it.
21:06How do you view the immediate outlook amidst global uncertainty and geopolitical tensions?
21:12Yeah, you know, we have to be real.
21:16Given the global elections and the instability that we've seen thus far in the last, I would say 18 to 24 and even 36 months.
21:27We see a number of things.
21:29There's going to be ongoing conflicts.
21:31There's ongoing conflicts as we sit here in the Middle East and Europe as well.
21:35And it's evidence that this geopolitical instability, you know, what it does.
21:44One, it creates a level of concerns and it creates a level of uneasiness with individuals.
21:54And therefore, we're seeing individuals are looking for what we call a plan B.
21:58What are the areas or the opportunities that exist that I can now move myself or my family in an environment that is safe,
22:09that has, as I stated before, political stability, economic stability,
22:15and provide that level of opportunity to foster and collaborate with a peaceful and partnership government.
22:25And so, that in of itself creates both a short and a long-term opportunity.
22:32And, you know, what we said, nations on a whole, we can't control certain things.
22:42What we can do is provide an opportunity for individuals who wish to move, sort of take this option as a way for safety,
22:52as a way for security, and be part of our beautiful country.
22:58That's amazing.
22:59As someone who is a child of the Middle East, I can rest assure and tell you that someone like me and my family look for security.
23:09So, I'm someone that would relate definitely to this program and to what your beautiful country offers.
23:17Absolutely.
23:18Ending on this note, what message do you have for potential investors considering the St. Kitts and Nevis Citizenship by Investment Program?
23:27There's so much I can say.
23:30You know, what I would extend is, first, a warm invitation to potential investors, applicants, individuals who wish to be part of the program.
23:45The program really offers a unique opportunity for you to gain citizenship in a stable and welcoming environment.
23:54But most importantly, what I would say is the process.
23:59Because it sounds great, yes, I can become, but what we consistently hear is, tell me the what.
24:06And my goal as the new chairman is to make sure that there is a smooth application process that is working effectively and efficiently,
24:19and ensuring that the individuals who initially has the goal to become part of our nation, they get through this process as effectively and speedily as possible,
24:30and so that they can foster a long-lasting relationship with us as a nation and we with them as an investor.
24:39So, what I would say is St. Kitts and Nevis is not just a place to invest.
24:45We want to say, and looking forward to yourself, Estella, for you to call it home.
24:51Thank you so much, Your Excellency, for being with us here today and sharing more about the St. Kitts and Nevis Citizenship Program by Investment Unit.
24:59Thank you so much.