LONDON, April 23, 2021 /PRNewswire/ -- In an editorial for Kenya's StartUp Magazine, Les Khan, the CEO of St Kitts and Nevis' Citizenship by Investment (CBI) Unit, said becoming a citizen of the dual-island nation provides opportunities for African entrepreneurs. According to Khan, a second citizenship can unlock greater travel freedom, a benefit that many African professionals need but are hindered from due to discriminatory immigration policies. This has led to an increase in wealthy Africans seeking CBI Programmes, particularly those of the Caribbean, with applications skyrocketing over the last year.
St Kitts and Nevis is internationally renowned for introducing the world's first – and longest-standing – CBI Programme. Since 1984, the programme has attracted foreign direct investment in exchange for citizenship. With nearly four decades of experience under its belt, St Kitts and Nevis is a market leader and recognised within the industry as a Platinum Standard brand. Investors who choose the nation can rest assured that their investment is going towards the socio-economic development of their adoptive home, with funds channelled into various sectors of society, including healthcare, education and tourism.
Citizens of St Kitts and Nevis also gain access to a wealth of benefits, like the ability to do business in a fast-growing economy that imposes neither income nor wealth tax. Additionally, investors are not required to reside in the nation. After gaining citizenship, applicants can apply for their second passport, which is the strongest in all Caribbean CBI jurisdictions, thus beginning their lives as global citizens. This perk includes access to nearly 160 countries and territories with major international hubs to ensure that African investors can keep their business competitive.
"The travel unlocking capability of a St Kitts & Nevis passport could give an edge to African professionals often held back by discriminatory passport and immigration policies. For example, Cameroonians can only travel to 17 countries visa-free and African countries consistently occupy the lower ranks of the passport Index. This is perhaps why the past year has seen a marked uptick in CBI applications from African countries," wrote Khan.
"Africa's start-up scene is one of the fastest-paced and most exciting in the world. As founders continue to raise impressive amounts of funding and seek to grow their companies not only will they seek unique investment opportunities, but a greater international presence will also be paramount and there couldn't be a better time to invest," he added.
Investors interested in St Kitts and Nevis can take advantage of a limited time offer under its Sustainable Growth Fund route. Under the temporary discount, families of up to four can gain citizenship once investing $150,000 instead of the previous $195,000.
SOURCE CS Global Partners