The Government of St Kitts and Nevis has once again reaffirmed its position as a trailblazer in the international investment migration industry with the announcement of groundbreaking changes to its Citizenship by Investment Programme. These changes are aimed at attracting only high-net-worth investors and individuals who genuinely value the citizenship of St Kitts and Nevis.
For almost four decades, St Kitts and Nevis has been a pioneer in the global investor immigration arena, consistently setting new standards with its forward-looking solutions and robust legislative principles. The Programme has been instrumental in propelling the nation\’s prosperity and reducing its reliance on international financial aid, providing opportunities for Kittitians and Nevisians to thrive.
Building on the modifications made in December 2022, the latest changes are designed to safeguard the nation\’s integrity, ensure program sustainability, and maintain the prestigious status of being a citizen of St Kitts and Nevis. Prime Minister the Hon. Dr. Terrence Drew stated, \”We are committed to preserving the exclusivity and prestige associated with being a citizen of St Kitts and Nevis.\”
A key addition to the Programme is the introduction of the Sustainable Island State Contribution (SISC), which replaces the previous Sustainable Growth Fund (SGF). The SISC emphasizes seven pillars that will advance St Kitts and Nevis into a Sustainable Island State, focusing on local food production, transitioning to green energy, diversifying the economy, supporting sustainable industries, fostering the creative economy, recovering from the impacts of the COVID-19 pandemic, and expanding social protection for the vulnerable.
Investors can now choose from various contribution options, starting from US$250,000 for a single applicant and increasing with the addition of spouses and dependents. Additionally, new regulations have been set for the Developer\’s Real Estate Option and Approved Private Home option, promoting responsible investment practices.
Furthermore, all applicants are now required to undergo a mandatory interview as part of the due diligence process, conducted by an independent professional firm commissioned by the Citizenship by Investment Unit. Background checks will also be carried out by independent professional firms from the United Kingdom, USA, and Europe, further bolstering the integrity of the Program.
The Board of Governors has been granted greater authority to regulate Authorised Agents and International Marketing Agents, ensuring that the Program adheres to strict advertising standards and remains focused on attracting distinguished applicants committed to contributing significantly to the nation\’s growth and development.
St Kitts and Nevis\’ approach to citizenship by investment demonstrates its commitment to maintaining the highest standards of citizenship and cultivating a vibrant community of nationals with a shared vision for the country\’s progress. The country continues to be a sought-after destination for high-net-worth individuals seeking meaningful investment opportunities and a strong sense of citizenship.
The latest changes are poised to enhance international investor confidence and further elevate St Kitts and Nevis\’ reputation on the global stage. As the nation continues to forge a sustainable path for the future, it remains a prime choice for distinguished applicants looking to invest in regulated projects or contribute to societal advancement.
Key Changes to the St. Kitts and Nevis Citizenship by Investment Program
The St. Kitts and Nevis Citizenship by Investment Program (CBI) has undergone a number of changes, effective January 1, 2023. These changes include:
Eligibility:
Iraqi nationals are no longer eligible to apply for the CBI program. Additionally, siblings and grandparents are no longer eligible to be included as dependents on an application. The minimum age for parents to be included as dependents has been increased to 65 years old.
Investment Options:
The Sustainable Island State Contribution (SISC) has replaced the Sustainable Growth Fund (SGF) as the primary investment option for the CBI program. The minimum donation for the SISC is as follows:
-
- $250,000 for a single applicant
- $300,000 for a family of 2
- $350,000 for a family of 4
The minimum investment for the real estate option has been increased from $200,000 to $400,000. The minimum investment for the sale of a private home has also been increased, to $400,000 for a condominium unit and $800,000 for a single-family private dwelling. The minimum investment for the Public Benefit Project (PBP) has also been increased to $250,000.
Due Diligence:
The cost of due diligence has been increased for both the main applicant and dependents. The cost for the main applicant is $10,000, and the cost for each dependent aged 16 years and above is $7,500.
Other Changes:
- Interviews: All applicants 16 years of age and above are now required to undergo an interview as part of the application process.
- Collection of Certificates of Registration (COR): Certificates of Registration (COR) must now be collected in person in St. Kitts and Nevis or at a CIU-designated embassy.