Economic Citizenship Helps Pay for New St. Kitts Cruise Pier
A new $48 million cruise pier has been completed at Port Zante, St. Kitts and Nevis, using $5 million in assistance from the country's citizenship-for-investment program (also known as economic citizenship).
With the completion of the second pier, St. Kitts' Port Zante can now host up to three of the largest ships in the world at one time. The islands welcomed an one million cruise passengers over the course of this cruise season, a milestone accomplished for two consecutive years, making it among the largest cruise destinations in the region.
St Kitts and Nevis is also on its way to becoming the regional destination in which cruise passengers choose to spend most money, according to the Florida-Caribbean Cruise Association (FCCA). FCCA has estimated that the small country could attain this leading position within about three years' time.
St. Kitts and Nevis' effort to maintain its status as a leading cruise destination is partially bolstered by its initiative to raise foreign direct investment via the islands' "Citizenship By Investment" program. Since 1884, individuals and families from around the world have been able to obtain citizenship from St. Kitts and Nevis in return for an investment. No previous connection with the islands or language or culture examinations are required, though applicants do have to pass a "due diligence" check.
Over one dozen countries offer second-citizenship-by-investment options. Since last year, St. Kitts and Nevis has offered citizenship at the minimum rate of $150,000 in investment per person, slightly more than the amount required in Antigua and Barbuda or Vanuatu. Through a new program, eligible St. Kitts applicants may receive confirmation and a passport within as little as 60 days through an optional accelerated process. The St. Kitts passport is accepted for visa-free travel in more than 150 countries.