St. Kitts and Nevis has long been regarded as having one of the most successful and most emulated citizenship by investment programs in the world. After all, it is the Pioneer of the CBI Program since 1984. Recently, two new options were introduced under the CBI program that will ensure this reputation will continue to be upheld.
In a public announcement, Prime Minister Dr. the Honourable Timothy Harris detailed the two new programs while also assuring St. Kitts and Nevis “stand[s] for integrity, rigour, and robust due diligence.” Prime Minister Harris also announced that improved due diligence would include the introduction of biometrics for citizenship applicants from high risk countries.
In terms of the newly announced citizenship options, both are revised real estate offerings. The first, the Sustainable Growth Fund (SGF), is designed to take over for the Hurricane Relief Fund (HRF) —a temporary program that was implemented in the wake of the damage caused by the 2017 Atlantic Hurricane Season—which expired on March 31, 2018 and replace the Sugar Industry Diversification Foundation (SIDF) option.
Under the SGF, a single applicant will require a contribution of US$150,000 inclusive of government fees while the contribution for a family of up to four will be US$195,000 in which:
Single Applicant: $150,000 USD
Spouse: $25,000 USD
Dependents: $10,000 USD each
The second real estate option is a US$400,000 investment plus government fees that may be split between two applicants (each paying US$200,000). Property purchased under this agreement cannot be resold for at least seven years. Government Fees include:
Single Applicant: $35,000 USD
Spouse: $20,000 USD
Dependent: $10,000 USD each
This second option is different from an existing real estate investment that also calls for a US$400,000 investment. The difference being the existing program cannot be split between applicants but the resale period is shorter at just five year instead of seven with the new program option.
The new programs are effective immediately and are reflective of St. Kitts and Nevis’ strong commitment to continuing to grow and build a strong economy.
If you’re interested in taking part in these or any citizenship programs we have to offer, contact us for a free consultation.