5. Other Relevant Matters
A. Anti-money Laundering
The Federation enacted a suite of anti-money laundering
legislation in 2001 in an effort to preserve the Federation's
integrity as an emerging financial centre. The Proceeds of
Crime Act, 2000 made money laundering a criminal offence and
provides for the confiscation and forfeiture of proceeds of crime.
The anti-money laundering regime provides for the relevant
authorities to receive information from financial institutions on
suspicious transactions. Financial institutions are required to
have anti-money laundering compliance officers and to adopt
'Know Your Customer' policies.
B. Visa Waiver
Federation citizens can visit the Schengen member countries of
the European Union without obtaining a visa, and stay for a period
of three months within a six-month period following the date of
first entry in any EU country. Schengen includes Iceland, Norway
and Switzerland, which have adopted the treaty. Due to their open
borders with Schengen members, Liechtenstein, Monaco, San Marino
and Vatican City are considered to be de-facto Schengen
members. Kittitians-Nevisians do not need visas to visit the United
Kingdom and the Republic of Ireland, and can stay for six months in
the United Kingdom and three months in Ireland.
C. Citizenship By Investment
The Federation offers foreign persons the opportunity to become
citizens on the basis of the purchase of a piece of real property
or upon the investment in a public charity. Citizenship can be
obtained through the purchase of property valued at USD350,000 or
more on the southern peninsula of Saint Kitts, in the north-west of
Nevis or via a donation of USD200,000 to a fund for displaced sugar
industry employees. The Application for Citizenship and
accompanying passports must certify that all family members are
free of infectious diseases, including HIV/AIDS, and do not have a
criminal record.