Saint Kitts and Nevis is a tropical place to buy real estate, and has many options of villas, condos and other homes. Keep in mind that there are additional requirements and costs for the foreign ownership of property, and you’ll have to hire an attorney for the process. Part of the reason is that Saint Kitts and Nevis is the smallest sovereign nation of the Americas, both in population and size.
Attorneys and Real Estate Agents
You are required to hire a lawyer if you are applying for an Alien Land-Holding License.
A real estate agent is helpful but not necessary in Saint Kitts and Nevis, but can help you look for an ideal property. Some local real estate agents in Saint Kitts and Nevis have the application forms for the Alien Land-Holding License, and can give advice on some of the process.
Rules, Regulations and Restrictions
In order for foreigners to own land in Saint Kitts and Nevis, they must either obtain an Alien Land-Holding License or gain Economic Citizenship. You must hire a lawyer to obtain an Alien Land-Holding License. This license will cost 12% of the closing cost of your property purchase.
If you wish to pursue the process of Economic Citizenship, in which you can get dual citizenship with your home country. You’ll have to invest hundreds of thousands of dollars into the government designated real estate, plus pay tens of thousands of dollars to the government, so it’s an option for people who have thousands of dollars to spare. This entitles you to a passport, full residency and a work permit in Saint Kitts and Nevis.
You must first obtain an Alien Land-Holding License with your lawyer.
Once you have been granted this license, you can securely settle on a property. You should then make an offer to the seller.
Following the offer, the seller must come up with an agreement of sale, which you and they must sign. To reserve the property, you must then put down a holding deposit of 10-15% of the property value.
It then takes two to four months to close the process. You must pay the remainder of the money to the seller, have the deed transferred, and pay government duties.
Click here for more details, and facts and figures about living fees.