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Why do billionaires love the St. Kitts and Nevis passport?

St. Kitts and Nevis is a quiet, tranquil country in the eastern Caribbean.

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Carl M. Walwyn.

This CBI-focus feature is sponsored and provided by the The Fairway Group.

Which country has the highest number of billionaires per thousand people?

Monaco, the renown playground of the super-rich, is the country with the highest number of billionaires per thousand.

The second country may surprise you.

St. Kitts and Nevis, a quiet, tranquil country in the eastern Caribbean is the country with the second highest number of billionaires per 1,000 people.

The billionaires who have St. Kitts and Nevis Citizenship are Wu Xu, Jacky Xu, Myron Wentz and Pavel Durov.

Wu Wu

Chinese-born Wu Xu is the chair of the Chongqing Sincere Holding Group, one of the largest real estate developers in the central Chinese city of Chongqing.

Jacky Xu

Jacky Xu, 33, is a Singapore-born businessman and owner of Trendy International, a popular apparel company with brands that include Ochirly and Five Plus.

Myron Wentz

American-born Myron Wentz is founder and chairman of USANA, a multilevel marketing company that sells nutritional supplements and skincare products.

Pavel Durov

Pavel Durov is the CEO and co-founder messaging app ,Telegram which has more than 500 million users worldwide. Durov is known as Russia’s Mark Zuckerberg because he also created Vkontakte, Russia’s largest social network.

St. Kitts has been called “The World’s Best-Kept Secret,” and frankly these billionaires would probably prefer it that way. For those who aspire to billionaire status, it may be instructive to know just why this is.

If there is one thing that billionaires like, it is freedom. The second thing that billionaires like is safety – personal safety and the security of their assets. Thirdly, billionaires love a good return on their investments.

St. Kitts and Nevis offer all three in a warm, sustainable environment.

In 1984, as a solution to decreasing revenue from the countries main source of income (sugar production), the newly formed federation of St. Kitts and Nevis initiated a brilliant plan.

Why not offer individuals of good character the benefits of citizenship in return for a modest investment?

And so, the St. Kitts and Nevis Citizenship By Investment (CBI) Program was born. It was St. Kitts and Nevis’ gift to the world.

The St. Kitts and Nevis CBI has remained one of the most sought-after such programs in the world.

This platinum standard passport grants holders second citizenship, increased mobility and importantly, returns spontaneity and adventure to travel.

St. Kitts and Nevis citizens can, at a moment’s notice, take part in the advantage of international opportunities without the burden of long visa review periods – or the fear of delay and rejection.

According to St. Kitts and Nevis Prime Minister, Dr. The Hon. Timothy Harris: “St. Kitts and Nevis has long been a pioneer in creating innovative solutions to add value to the lives and experiences of individuals of high net worth. Our global offerings in citizenship, wealth management, investment and finance, technology and enterprise, and tourism, have won us acclaim as being not only investor focused, but also investor friendly. Our platinum standard is maintained through effective global partnerships, careful due diligence, robust regulatory compliance, and an insistence that all our investors and economic citizens demonstrate integrity in their business relations, and legal and private actions. The safety and security of our citizens and residents, and the integrity of our country’s long-standing global repute are foremost priorities which are closely guarded.”

Benefits of Citizenship

Citizenship is for the life of the investor, plus a spouse, children, parents and siblings, who the investor includes on his or her application.

Applicants are not required to visit or reside in St. Kitts and Nevis – the entire process, from application to passport delivery can be done remotely.

St. Kitts and Nevis passports are typically issued within 6 months of filing an application, with an expedited process available for an additional fee.

Citizens of St. Kitts and Nevis may travel visa-free/visa-on-arrival to more than 160 countries, including the United Kingdom, Russia, the Schengen Zone in the EU, and many British Commonwealth countries.

Citizenship includes full residency status and the right to live and work in St. Kitts and Nevis and other CARICOM countries.

St. Kitts and Nevis is a tax-efficient jurisdiction, offering no individual income tax and no capital gains tax on investments in CBI real estate.

Eligible to apply for a 10-year US Visitors Visa.

This is the first in a 10-part series on CBI programs for I.O.H.N.W

Carl Walwyn is a perennial award-winning Realtor in Canada who has been with ReMax Realty and the Toronto Real Estate Board since 1988. He is owner of Walwyn Real Estate Services, which specializes in sourcing, refurbishing and managing high-end residential and commercial real estate in St Kitts and Nevis. Over the past seven yearsm Carl has developed a niche expertise in advising clients on the best ways to navigate the Caribbean Real Estate landscape with confidence. As a wealth-management consultant and seminar leader, Carl has advised clients on how to leverage real estate equity gains realized from markets like Toronto, Vancouver, London and New York by entering the Caribbean real estate market and positioning their real estate holding portfolios to benefit from growth in that market. Realizing that there is currently no St Kitts and Nevis Real Estate Board, Carl has started a network of like-minded Realtors to adopt certain protocols and best practices to ensure trust and transparency in a sometimes-confusing Caribbean market. Carl brings more than 40 years of international sales, marketing and real estate investment experience to the group. He has a bachelor’s degree from the University of Toronto. 

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What African billionaires can learn from Russian billionaire about securing a second passport long before a crisis

Freedom and peace of mind knowing that a Plan B is in place.

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Pavel Durov.

This CBI-focus feature is sponsored and provided by the The Fairway Group.

Russians can no longer apply for The St. Kitts and Nevis Passport. The Government of St. Kitts and Nevis recently joined the United States, the United Kingdom and other countries in imposing sanctions against Russia because of Russia’s current military aggression against Ukraine. 

Ukraine and other non sanctioned nationals, however, can still apply for citizenship by investment (“CBI”) in the newly crowned “Best Second Passport In The World,” which gives them the freedom to travel to over 160 countries and territories without long waits and possible visa rejection. This is a critical advantage in a time of war or regional instability.

Unlike other Russian billionaires, Pavel Durov, who founded the social messaging app Telegram, is unaffected by the current Russian sanctions. This is because Durov had already secured his St. Kitts and Nevis passport and citizenship and therefore is able to enjoy all the rights, privileges and benefits that accrue to St. Kitts and Nevis nationals.

One of the most important of these rights is the ability to travel to more than 160 countries and territories visa-free or visa-on-arrival.

The important message learned here is that the time to secure a Plan B for safe passage for family and self is never at the time of crisis. By the time instability or conflict erupt, a robust plan with access to a safe haven must already be securely in place. Such a plan and the documents and tools for executing this plan must be prearranged well in advance of any anticipated crisis. Indeed, the plan should be employed even before a possible crisis is anticipated. It is the prudent and responsible strategy for anyone seeking to protect themselves and their family. As an old proverb intones, “when house is on fire, it is too late to be making a phone call seeking fire insurance for that particular fire.”

More information is available at The Fairway Group website www.thefairwaycondos.com

The Fairway Group

The Fairway Group is a Real Estate Development Company offering Citizenship By Investment application services on the island of St Kitts in the West Indies.

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Russian-born billionaire with St. Kitts & Nevis passport is case study in perspicuity

Durov is best known for founding the social networking site VK and later Telegram Messenger.

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Pavel Durov.

This CBI-focus feature is sponsored and provided by the The Fairway Group.

Russian-born billionaire with a St. Kitts & Nevis passport Pavel Durov is an example of a global strategy that can circumvent political and military conflict, as St. Kitts halts Russian applications for Citizenship By Investment (CBI).

Pavel Valeryevich Durov, born Oct. 10, 1984, is a Russian-born Kittitian. He is best known for founding the social network site VK and later Telegram Messenger. His net worth is estimated to be north of $17 billion and he has been a vocal advocate for freedom.

Like many strategies on the stock market, some moves always appear brilliant in hindsight when they may have been, at best, merely fortuitous.

So, it can be argued that the purchase of a St. Kitts and Nevis passport (judged the best passport in the world) may have been a lucky accident. However, everything points away from that conclusion.

It is clear that Durov is intentional, as well as brilliant. It is also clear that he is socio-politically active, taking part in both the World Economic Forum (WEF) and the WEF Young Global Leaders program. Durov secured his original CBI passport long before the present Russia-Ukraine conflict.

The concept of CBI was first introduced to the world by St. Kitts and Nevis in 1984. In exchange for investing in the country, applicants could receive a St. Kitts & Nevis passport if they were successful in passing the due diligence scrutiny of the government.

Currently, holders of the passport can travel to more than160 countries and territories without worrying about the inconvenience of having to apply for a visa months before travel, possibly sending their passport away to have it stamped without having a guarantee that the visa would get arrive in time – before the intended travel date.

So, even if we agree that we cannot attribute the purchase of the St. Kitts and Nevis passport to Durov’s perspicacity, we can certainly admire his perspicuity in choosing the best and having a “Plan B” with a safe-island approach before it was actually needed.

St. Kitts and Nevis has now joined others in imposing sanctions on Russia – including ceasing all applications for citizenship by Russians. There is a critical lesson to be learned here. It is impossible to purchase fire insurance while your house is on fire. The time to purchase fire insurance is when there is no indication that your house will ever burn down. For Africans of high and ultra-high net worth and, indeed, for all who desire safety and flexibility for themselves and their families, this is a wakeup call.

The time to apply for a St. Kitts and Nevis passport is now.

The Fairway Group has concierge services offering more than just a second passport for as little as $285,000, all-in, for investing in a boutique hotel in St. Kitts. The projected returns are “up to 8 percent per annum.” The successful applicant is also able to sell their shares after seven years and the new purchaser has the right to apply for second citizenship as long as the shares sell for the current price of a CBI share or more. This offers an elegant and effective exit strategy, since the original investor retains their passport for life, along with all the other accruing benefits.

Although residency is not a requirement for a successful application, passport holders can visit Kitts and Nevis at any time. There is no personal income tax in St. Kitts and Nevis and also no withholding tax. Passport holders can open businesses, purchase land and participate everyday life of Kittitians. Shares in The Fairway Group project also provide a residential address that can used to establish an independent financial profile and satisfy Common Reporting Standards.

Avoiding conflict and navigating to safety is no longer the privilege of the ultra-rich. Instead, it is the responsibility and domain of anyone – even of modest means – seeking protection for their family in times of uncertainty and chaos.

The Fairway Group

The Fairway Group is a Real Estate Development Company offering Citizenship By Investment application services on the island of St Kitts in the West Indies.

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