RANGE Developments, an affiliate of Hyatt Hotels Corporation, and Kiawah Partners have signed an agreement to build and operate an ultra-luxury Park Hyatt hotel at Christophe Harbour on the eastern Caribbean island of St Kitts. The project will be financed under the St Kitts & Nevis Citizenship by Investment Programme through the sale of individual investment shares for $400,000.
Set within the residential resort community of Christophe Harbour which calls for world-class amenities such as a superyacht marina, Tom Fazio golf course, and private beach club, Park Hyatt St Kitts will encompass 200 hotel rooms and 50 branded residential condominiums, that will be constructed in three phases. The first phase will be comprised of 125 rooms and all the amenities and support facilities to service the resort at full build-out. The amenities planned for the hotel include multiple dining venues, private beach access, pool, spa and meeting facilities.
Ownership of an investment share (limited partnership interest) in the hotel project grants investors the right to become eligible for citizenship of St Kitts & Nevis, a member of the Commonwealth of Nations. The key advantages of St Kitts & Nevis citizenship include visa-free travel access to 139 countries across the world, including UK, Schengen European countries, and most British Commonwealth member countries. Also included are Canada, France, Germany and Switzerland. Citizens of St Kitts & Nevis enjoy tax-free income and an exemption from paying taxes on capital gains, gifts, wealth and inheritance. Other benefits include dual citizenship for all nationalities without renouncing the citizenship of one’s home country, citizenship for life with an unlimited number of eligible dependents passed down through generations, and ability to obtain citizenship within 90 days without a residency requirement.
Speaking at the launch, Prime Minister of the Federation of St Kitts & Nevis Dr Denzil Douglas said: “We are extremely pleased to welcome the prestigious Park Hyatt brand and Range Developments to the island of St Kitts. This project will further advance our government’s economic transformation of St Kitts following the closure of the sugar industry in 2005.”
Park Hyatt St Kitts will form an integral part of the Christophe Harbour community. Range Developments and Kiawah Partners will develop the project and adhere to the company’s development philosophy to protect the land and sea in ways both sensitive and harmonious to the environment while providing places for man to live enjoyably within a range of natural settings.