St Kitts and Nevis.
Passport, offshore LLCs & more
St. Kitts and Nevis is the smallest country in the Americas both in area and in population (50,000). The total area is 100 miles/ 261 square kilometers. St. Kitts, the biggest, is 18 miles long and 5 miles across.
All beaches are public, no crowds
The best one, with powdery white sand, is in Frigate Bay (pictured). One doesn’t need to stay at the Marriott (which occupies most of it) to enjoy it. The no-code needed “lobby wifi” operates at a decent speed.
No traffic lights
While there are over 20,000 cars, there are no traffic lights. License plates have at most 4 digits. There is a published price list for taxi trips, anywhere in the nation.
Income inequality (GINI index):
The GINI index in St Kitts is 40, less than in the US (45), about the same than in the Maldives (40) but higher than in Europe (34). The GDP Per Capita is $25,500.
Well stocked supermarkets
Prices are almost twice as expensive as in the US, but there is a good assortment (video). Food at restaurants is tasty and ranges from fast food (KFC, Domino’s and Pizza Boys, a local excellent alternative) to excellent high-end choices.
In 2005, the government closed the sugar industry after several decades of losses. To compensate for lost jobs, the government stimulated offshore banking, tourism and economic citizenship programs, whereby foreigners can obtain citizenship by investing there (see next 2 paragraphs).
Services account for 70% of GDP. The total contribution of tourism is 28% and many activities (taxis, tour guides, food vendors) are provided by entrepreneurs. Read more
Passport in 60 days
A $400,000 investment or a $250,000 charity donation ($300,000 for a family) gets applicants a passport, which permits visa-free travel to 125 countries including the European Union. The process has now been accelerated to 60 days and there is no need to visit the island. Details
The Nevis Offshore LLC
Be it to minimize probate, provide asset protection or other legitimate reason, a Nevis offshore LLC offers greater privacy than other jurisdictions.
While a Wyoming LLC (our favorite in the US) is easy to set up and inexpensive to run, owners and managers of a Nevis LLC are not registered by the government anywhere, which provides for complete secrecy. In fact, naming a member or manager in any legal action brought against the company is legal grounds for dismissal.
We visited the regulator, the Nevis Financial Services Department and met with registered agents. Details