Wealthy individuals from mainland China face rejection from Canada, find Australia’s immigration thresholds too high, and feel that Latvia lacks prestige. As a result, many have begun exploring seemingly improbable immigration destinations, which include Portugal and the Caribbean nation of St. Kitts and Nevis.
Recently, a company based in Dubai conducted a promotional tour in mainland China and Hong Kong to seek investors for its hotel development project in St. Kitts and Nevis. The company plans to sell shares worth $400,000 to each individual investor and emphasized the attractive returns on this investment: a passport that allows visa-free access to most European countries and other former British colonies, with no additional costs.
An aerial view of St. Kitts and Nevis.
Investors can obtain citizenship and a passport for St. Kitts and Nevis within six months of making their investment. The company claimed at the presentation that applicants do not need to visit St. Kitts and Nevis or take a language proficiency exam to obtain these documents.
The intermediaries for this developer, immigration lawyer Jean-Francois Harvey based in Hong Kong, stated that the project is very popular and sales are robust. He added that he has sold shares to approximately 200 investors from mainland China, indicating that people view this as a business tool. Visa-free travel is extremely attractive for some individuals in China.
Real estate investment is not the only way to immigrate to St. Kitts and Nevis. By donating $250,000 to the government’s Sugar Industry Diversification Foundation, immigrants can also obtain residency. Some immigration intermediaries recommend this method, especially for those who do not plan to reside in St. Kitts and Nevis.
Undoubtedly, the number of individuals attracted to St. Kitts and Nevis is only a small fraction of the approximately 10,000 investment immigration applications from China. The United States and Canada remain traditional popular immigration destinations, although their appeal has diminished recently.
The U.S. EB-5 program requires immigrant applicants to invest $500,000 to establish a qualifying business that provides at least 10 jobs. The program's reputation has been tarnished due to a series of lawsuits, including a scandal involving a Chicago developer accused of defrauding investors, many of whom are Chinese. Furthermore, strict tax laws have also deterred ultra-high-net-worth individuals in China.