Every year property tax is payable on the unit/house purchased through real estate. The funds are paid to the Inland Revenue Department of St. Kitts and Nevis, which keeps updated records of ownership of all registered properties on the island.
Do I need to report to any authorities about the ownership of my investment during the 7-year maintaining period for St. Kitts and Nevis’ CBI program?
I just received my citizenship in St. Kitts and Nevis through a real estate investment. I understand that I am required to maintain the property for seven years before I can change the ownership of it. I am wondering if I need to report to any authorities to prove that I am still the legal owner of the property. If not, how would the government know that I keep compliance with the requirements of the program?
As the owner of property in St. Kitts, you are obligated to pay property tax for said property on or before June 30 every year. That is the only requirement.