Step 1 - Reservation Form
The investor signs a reservation form and submits a deposit of US $22,000 to secure their interest in Park Hyatt St. Kitts an approved real estate option for the Citizenship by Investment Program.
Range Developments can assist the investor with selecting a lawyer and service provider to process their application.
Step 2 - Application Forms & Document Submission
The investor collates the required documents and completes the required Citizenship by Investment application forms with the assistance of their lawyers. Legal fees and due diligence fees (US $7,500 for the main applicant and an additional US $4,000 for each dependent) must be paid along with the application directly to the lawyer. The investor will execute the Sale & Purchase Agreement at this stage.
Step 3 - Application Processing, Due Diligence & Payment
Application processing takes approximately 90-120 days. Upon approval of the application the investor will pay within 7 days, the remaining balance of US $198,000; government fees of US $35,000 for the main applicant, US $20,000 for the spouse and US $10,000 for each additional dependent regardless of the age; share registration government fees (US $11,000). Range Developments will issue an Ownership Certificate to the investor.
Step 4 - Closing and Transfer
Proof of ownership will be submitted to the government and the Citizenship by Investment unit will issue the Certificate(s) of Citizenship and subsequent Passport(s). This usually takes 3-4 weeks.