Buddy Darby’s vision of transforming 2,500 acres of St. Kitts dramatic Southeast peninsula into a luxury destination was always bold. But with the opening of Park Hyatt’s first resort in the Caribbean, and the superyacht marina’s very own Customs House with extensive leisure facilities and a host of new boutiques, 2017 is the year Christophe Harbour moves into the big time.
The Pavilion beach club, award-winning SALT Plage bar, full-service slips for yachts up to 250 feet in length and a fuel farm, not to mention pristine beaches and several dozen bespoke homes, have already put the community on the international map; its appeal, in an unpredictable world, is easy to understand.
In turbulent times, St Kitts and Nevis is a sanctuary of political independence, financial security, environmental distinction and recreational excellence. More than ever before, property on the independent twin-island federation now represents not only a sound investment alternative but something altogether more tangible: a place called home generating memories today and for generations to come.
Prospective purchasers at Christophe Harbour have a wide range of real estate opportunities, with full deeded title, from which to choose: finished homes from US$3 million, custom homesites from US$700,000, turnkey villas from US$1million, freehold marina berths starting from US$1.5 million, and fractional ownership from just US$475,000.
The nationality, legal and financial benefits of property ownership are significant. With no residency requirement, Christophe Harbour purchasers of good standing are eligible for the country’s Citizenship by Investment programme, which includes a passport and visa-less travel to more than 130 countries. As dual citizenship is allowed, this advantage is huge for foreign nationals, who can spend as much time as they like on St Kitts—even becoming full-time residents should they choose.
There is also an advantageous personal tax regime, with no income, capital gains, inheritance or gift taxes, and no tax reporting requirements. Under the right circumstances for many foreign investors, expatriation from high-tax nations becomes a serious consideration, and there are no restrictions on the repatriation of profits and imported capital, with the local Eastern Caribbean dollar pegged to the US dollar.
Local laws promote asset protection and discreet estate planning within a dependable, internationally recognized, secure offshore framework. Nevis trusts, within which property can be held, are protected against foreign judgments and virtually impenetrable, while still providing an attractive range of asset class investments and management options. Local business corporations also have a high level of privacy and are exempt from local taxes.
Geographically, St Kitts is well positioned with direct flights from JFK, Newark, Atlanta, Charlotte, San Juan, Toronto and London; St. Barths, Anguilla and Antigua are close enough for day trips. High points include international music festivals, fine restaurants, a Caribbean Premier League cricket franchise, ecotourism featuring rare sea turtles, and superyacht traffic increasing 60 per cent year on year. The islands’ time has come.
Opening this summer, the new five-star Park Hyatt St Kitts at Christophe Harbour’s Banana Bay is the latest addition to the community. Having access to a full-service spa, restaurants, business and sporting facilities, as well as overflow accommodation for family and friends, is a huge plus for residents, although such is the layout of the peninsula, they will hardly know a major resort is just next door.