St Kitts Citizenship benefits boost demand at new $100 million Caribbean resort

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St Kitts Citizenship is boosting demand for luxury villas, poolside cottages and condominiums at the $100 million Ocean's Edge resort development at Frigate Bay, report luxury property experts Savills Select Resorts. Privileged St Kitts Citizenship with all its second passport benefits is proving to be an added incentive for buyers keen to invest in aspirational but accessible property on one of the world's most beautiful islands. Citizenship of St Kitts brings with it a second passport plus significant offshore financial benefits such as freedom from income tax, property taxes, inheritance tax and capital gains tax for property owned for 12 months or more.

Prices at Ocean's Edge start in the mid-$300,000 range, for which investors gain St Kitts Citizenship, second passports, tax concessions and a home on a Caribbean paradise listed as one of the world's top 20 islands on which to live.

St Kitts Citizenship is boosting demand for luxury villas, poolside cottages and condominiums at the $100 million Ocean's Edge resort development at Frigate Bay, report luxury property experts Savills Select Resorts.

Privileged St Kitts Citizenship with all its second passport benefits is proving to be an added incentive for buyers keen to invest in aspirational but accessible property on one of the world's most beautiful islands.

Citizenship of St Kitts brings with it a second passport plus significant offshore financial benefits such as freedom from income tax, property taxes, inheritance tax and capital gains tax for property owned for 12 months or more.

It is open to people who invest at least $350,000 or its eastern Caribbean equivalent currency in an approved scheme. Ocean's Edge is officially recognised by the Government of St Kitts as meeting all the necessary criteria required.

Savills Select Resorts Director Pauline Bonanni said: "Investing in property must be one of the most cost effective ways of gaining the considerable benefits afforded by St Kitts Citizenship."

"Prices at Ocean's Edge start in the mid-$300,000 range, for which investors gain St Kitts Citizenship, second passports, tax concessions and a home on a Caribbean paradise listed as one of the world's top 20 islands on which to live."

Work on Phase 3a of Ocean's Edge is due to start shortly. Masterminding the project is the Cable Bay Hotel Development Company (CBHDC). Families are already moving into Phases 1 and 2 at the resort which has been praised by St Kitts Prime Minister and Minister of Tourism, the Hon Dr Denzil L Douglas.

Phase 3a of the vacation home development includes:

  •     Bespoke Villas - 32 villa lots starting from US $200,000 with a cost of approximately US $300 per square foot to build a bespoke villa with fantastic ocean views
  •     Poolside Cottages - 10 two-bedroom semi-detached, single-storey cottages (approx 1,825 square feet), each with their own small garden and private plunge pool at US $525,000
  •     Hillside Condominiums - two-bedroom condominiums with plunge pools (approx 1,500 square feet), overlooking the ocean, from US $575,000
  •     Two-bedroom Beachfront Condominiums, approx 1,650 square feet, from US $609,000
  •     One-bedroom Beachfront Condominiums - 800-900 square feet, from US $359,000.

In total, Ocean's Edge will comprise 190 condominiums plus 32 lots for bespoke villas. Completion is scheduled for late 2012.

Clients with an interest in purchasing property can participate in a three-night subsidised inspection trip to experience St Kitts and Ocean's Edge. For more information, please contact Pauline Bonanni, Savills Select Resorts, +44 (0)1202 765011.

Information For Editors:
http://www.oceansedgestkitts.com
International Sales Office
Savills Select Resorts
Telephone: +44 (0)1202 765011

About Ocean's Edge
Ocean's Edge is a luxury vacation home development in St Kitts overlooking Frigate Bay.
The 40-acre project comprises 190 condominiums including one-, two- and three-bedroom beachfront units, two-bedroom hillside units, two- and three-bedroom poolside cottages. In addition, 32 villa lots offering some of the finest views on the island are available with the option of building a three- or four-bedroom+ villa. Planned leisure facilities include a fitness centre, restaurant, pools, tennis courts and landscaped recreation spaces.

Ocean's Edge is owned by the Cable Bay Hotel Development Company Limited - a consortium of stakeholders comprising Newfound Cable Bay Corporation and locally based partners TDC Ltd, Mansha Ltd and SKNA National Bank Ltd. Ocean's Edge is located within 10 minutes of RL Bradshaw International Airport which welcomes non-stop flights from New York (JFK), Miami FL, Atlanta GA, Charlotte NC and San Juan PR. British Airways has just added a second direct service from London Heathrow. Islands Magazine (2007) listed St Kitts as one of the top 20 islands on which to live worldwide.

Robb Report's Vacation Homes Magazine (October 2008), listed the island as one of 10 great places where the best time to buy is now.

For further information, to set up an interview or receive a media kit and/or images, please contact:
Dalia Blumenthal, Publicist
Tel: + 1 416 926 1967
Mobile: + 1 416 788 4573

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