Saint Kitts and Nevis is a Caribbean island country. It is the Western Hemisphere’s tiniest sovereign state. With Elizabeth II as Queen and Head of State, the island is a Commonwealth realm.
The people of this two-island nation are noted for being friendly and inviting. It has beautiful beaches and mountains, and the local culture revolves around ‘limin’… hanging out, drinking, and conversing.
A number of well-preserved sugar farms have been converted into elegant hotels. It’s a lovely part of the globe.
But here’s where it gets intriguing for crypto investors.
Citizenship by investment is available in St. Kitts and Nevis. This has been the case for a long time, dating back to the 1980s. In exchange for a $150,000 investment, investors can get a St. Kittian passport. But now, if you have 3.89 BTC to invest, you may have a passport that is as good as yours. As long as you’re not a crim, that is.
The crypto party doesn’t stop there. Once you’ve received your new passport, you’ll be relieved to learn that cryptocurrency gains are not taxed in St. Kitts and Nevis. The small Caribbean nation levies no capital gains taxes on anything, including cryptocurrencies. Local banks are happy to work with cryptocurrency investors. Bitcoin ATMs may be found throughout the twin-island nation.
Savory & Partners is a government-accredited agent that assists people in obtaining citizenship through investing. They claim that cryptocurrency may be hampered by government or regulatory restrictions.
According to Savory and Partners, Biden’s administration is now working on tax reform. It will raise the capital gains tax rate from 20% to a staggering 39.6%. The profit margin of a bitcoin investment could be destabilized, if not completely destroyed, as a result of this reform.
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