St Kitts and Nevis’ CBI Programme known for its strict due diligence background checks

St Kitts and Nevis’ CBI Programme known for its strict due diligence background checks

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Basseterre: Despite being the smallest, St Kitts and Nevis doesn’t let its size limit the capacity to carry the due-diligence background procedure on the citizenship by investment applicant. The citizenship by investment programme of the twin-island Federation is considered one of the best because it carries the most vigorous, multi-layered background checks on all applicants seeking alternative citizenship from the country.

CBI Programme of St Kitts and Nevis has been regarded as the “Platinum Standard” for the CBI industry across the world due to its multi-layered due diligence checks.

The Federation is also the “pioneer” of the industry as it was the first country to launch the “economic citizenship programme”.

St Kitts and Nevis has the longest-running, safest, most secure as well as transparent citizenship by investment programme.

As per the Citizenship by Investment Unit of St Kitts and Nevis, processing of the applications only starts after the thorough scrutinization of applicants’ documentation and other checks.

The government and third-party agencies carry out background checks to examine applicants. The multi-layered approach ensures that citizenship is granted only to the reputed as well as honest individuals who possess no criminal or financial fraud backgrounds. Strict screening procedures are conducted to ensure and cross-verify each and every aspect declared in the application by the applicant. Not only that, but the background checks also verify the source of income of the investor seeking alternative citizenship. Following this, individuals’ details such as their residency, their source of funds and occupation are checked.

The due-diligence procedure is carried out by verifying some basic documents or materials, which are:

  • Identifying documents (birth certificate, passport, or any other verification certificate)
  • Financial materials (including bank account numbers, information about your income and other sources of wealth, employment history, etc.)
  • Personal references
  • Criminal history

After the third-party verification, due-diligence firms send back the report to CBI units, which then again cross-verifies the facts, and the final approval or rejection depends on the unit.

St Kitts and Nevis’ CBI Programme
St Kitts and Nevis’ CBI Programme

The citizenship by investment programme of St Kitts and Nevis is helping the nation to run socio-economic activities. Many sectors are directly or indirectly benefitted from the programme.

The most widely used investment option under the citizenship by investment programme is the Sustainable Growth Fund (SGF), which is also called the “Fund Option”.

The citizenship by investment programme revenues provides economic assistance towards the social programmes; it also helps in providing income support to the residents and many more.

The Fund Option allows making a contribution towards the economy and social prosperity of St Kitts and Nevis.

The Sustainable Growth Fund was established in 2018, and since then, it has been assisting the country in one way or another. Some of the benefits of SGF to residents include the following:

  • Enhancing the quality of education
  • Ensure the health and well-being of a growing population
  • Promote St Kitts and Nevis’ thriving tourism industry
  • Publicize the different cultural savour of the people

An investor can contribute a minimum of USD 150,000 to apply for citizenship by investment programme under the Sustainable Growth Fund option.

The alternative citizenship of St Kitts and Nevis may be attained by an individual whose age is more than 18 years. An applicant can also add additional dependents such as a spouse and children.

The Citizenship by Investment Programme of the Federation of St Kitts and Nevis ranked highest in the CBI Index for being the fastest, safest and most secure. The CBI Index is annually published by the Financial Times’ Professional Wealth Management magazine.

The CBI Index rankings are based on the points earned in nine different pillars, whereas in the pillar of due diligence, St Kitts and Nevis topped the charts.

St Kitts and Nevis is a small twin-island Federation with a population of around 53,192. The country is loved by the tourists because of its stunning white-sand beaches, sheer blue water and mesmerizing beauty sights; due to these natural gems, it is dubbed the “Paradise of the Caribbean”.

The maximum of the tourists visits the twin-island Federation through cruise ships, and now it is considered one of the most desired locations for cruise ship travellers.