"bitcoin jesus" offers passport to caribbean paradise

Sun, sea, sand - and a new passport. Photo credit: Erik Jaeger

Roger Ver is not the first man to sell property for Bitcoins: a Canadian man took that honour last year. The 35-year-old, though, has caused waves with his audacious offer for tje Marriott developments: a chance to effectively buy a new passport in a tax haven anonymously and without government awareness.

Indeed, Bitcoin has caused some controversy since its launch due to its anonymity, a trait that has seen the currency associated with criminal website Silk Road, embraced by hackers worldwide, and banned as a legal currency by both China and the US.

Ver invested in the virtual coinage early, earning his fortune before going on to start PassportsforBitcoin.com. Citizenship tops the list of unusual things one can buy with Bitcoins, which already ranges from theatre tickets and guns to computer parts and, of course, other virtual currencies.

The Federation of St. Kitts and Nevis is no stranger to citizenship investments: its Citizenship-by-Investment scheme is one of the oldest in the world, launching years before the current swathe of European housing markets began to attempt to woo wealthy buyers from outside of the EU.

The deal? One passport for $400,000 worth of real estate, complete with zero taxes. "Your home country is not notified of your St. Kitts citizenship", reads the website, which also notes there is "no residency requirement" for those who invest to actually spend any time there. They "do not have to visit to apply", either.

On top of that, the property "may be resold after 5 years" and will carry a new citizenship for the new buyer.

"IIC is the partner with the exclusive right to sell the Marriott Residences St. Kitts, Marriott Villas and the Royal Golf Estates, the new exclusive development on the Marriott Golf Course," it adds.

Ver, who has been hailed as "Bitcoin Jesus" thanks to his early adoption of the asset, is about to start a tour of the world, evangelising the benefits of using Bitcoin to invest - particularly in China, where there are limits on the amount of cash that can be transferred overseas.

"St. Kitts’ government is much more libertarian compared with the U.S.,” Ver tells Bloomberg. “It’s not even close. So all these early bitcoin adopters, of course if they have the means, they’d rather be a citizen of St. Kitts.”

Others, though, are more skeptical of the offer.

Brian Johnson, MD of Platinum Financial Services, an IFA based in Moscow who promotes property in St Kitts, told Global Edge: "First of all the company mentioned is not listed as an approved person to submit applications. We have to use our sister company in St Kitts which is called Civis and run by Legrand Elebash.

"Secondly all funds paid to the government have to come from a proven source. Bit coins can’t be proved so how could they be used? You can’t just turn up in St Kitts with a bag of cash?"

The situation seems to boil down to one question: Do you believe in Bitcoin Jesus or not?