Basseterre, St Kitts and Nevis: Citizenship by Investment Programme of St Kitts and Nevis has become an attractive choice for savvy investors. With its cost-effective, simple application process and straightforward investment procedure, it has been setting a bold and new tone for the industry. Investors, High Net-Worth Individuals (HNWIs) and potential stakeholders have been investing in the CBI Programme through the Sustainable Growth Fund, which is also known as Fund Option, and now the luxurious island of St Kitts and Nevis is providing an opportunity to contribute a reduced amount of USD 125,000. The country is offering a limited-time offer (LTO), and the offer ends on June 30 2023.
Under the Limited Time Offer, the Government fees included are as follows:
• US$125 000 per the main applicant.
• US$150 000 for the main applicant and a spouse.
• US$170 000 for the main applicant and up to three qualifying dependants, irrespective of spouse included and age of each qualifying dependant.
• US$10 000 for each dependant under 18 years.
• US$25 000 for each qualifying dependant over 18 years.
The country has been offering citizenship by investment at a decreased amount from January 1 to June 30, 2023, and from July 1 onwards, the cost of contribution will increase to USD 150,000 per main applicant. In addition to this, those who are looking to tap into St Kitts and Nevis’s citizenship by investment programme can gain alternative citizenship within 60 days, with no extra fees during this limited-time offer.
It is worth highlighting that the Citizenship by Investment Unit of St Kitts and Nevis carry out a strict and rigid due-diligence process so that alternative citizenship is only obtained by a credible investor. The application and documents submitted by the interested investor or potential stakeholder are checked thoroughly, following which the application is accepted or rejected. As due diligence plays a central role in establishing and maintaining the integrity of CBI programmes, St Kitts and Nevis make sure that background checks are carried out without any negligence.
It is assured that during this Limited Time Offer, the due-diligence procedure and background checks will not be compromised and the Programme will remain as robust and vigilant as possible.
The much-anticipated changes were announced by the newly appointed head of the Citizenship by Investment Unit of St Kitts and Nevis – Michael Martin, in the month of December 2022. These changes have been regarded as a drive to attract discerning investors and will provide high levels of integrity to the Programme. The Head of CIU, Martin, said that the authorities had taken onboard these recommendations and are issuing an update on the regulations with an aim to ensure that the CBI Programme requirements are clear and unambiguous as well as meet the needs of the stakeholders and prospective applicants. He also clarified that all the updates were instituted after detailed discussions with the key stakeholders of the industry.
Recently, he visited Dubai, UAE, for the first time as the CIU Head after replacing Les Khan in December 2022. During the event, he assured that the Programme would continue to evolve with time under his leadership. He also talked about the Limited Time Offer as a tool to attract more and more investors to the shore of St Kitts and Nevis. “We have decided to enhance our programme by introducing new regulations to ensure that the programme continues to attract premium investors,” he asserted.
Additionally, CIU Head Martin used the platform to share the significance of the Sustainable Growth Fund. He mentioned that the SGF is particularly designed to enhance the development of the country and its people. He said, “The funds received under SGF go into the assistance of schools, medical facilities, new enterprises, and technology. It is a very important option in our citizenship by investment programme.”
Besides the LTO, the Citizenship by Investment Unit (CIU) has announced further regulation changes in the CBI Programme of St Kitts and Nevis, which were effective from February 9 2023.
From February 9 2023, the CBI Programme Regulation changes are as follows:
1. The minimum eligible age of the parent or grandparent of the main applicant or their spouse has been lowered from 65 to 55.
2. Limited Time Offer (LTO) and accelerated CBI applications under the SGF Investment Option will be processed in just 60 days. Whereas non-accelerated CBI applications will be processed in 90 days.
3. There are premium due diligence fees for accelerated CBI applications in the amounts of: USD 20,000 for the main applicant and USD 10,000 for each dependant aged 16 and above.
However, the Sustainable Growth Fund comes with many other reasons to contribute to it.
• The SGF is a path to the world’s first economic citizenship programme: St Kitts and Nevis Citizenship by Investment Programme.
• It’s a discrete channel of investment, ensuring one’s privacy.
• The Programme facilitates expanded mobility.
• Contribution under the Sustainable Growth Fund will assist in the continued prosperity of a strong, growing nation.
• The streamlined and efficient process to citizenship, with the strongest due diligence procedures in the world, protects investments made by an investor.
• Alternative citizenship lasts a lifetime and can be passed on to future generations, securing their future as well.
• An open world to greater wealth opportunities in a nation with a growing GDP and consistently stable governance.
The citizenship by investment programme of St Kitts and Nevis is popular for preserving the platinum brand of the industry and allowing greater transparency and accountability. Investing in CBI of St Kitts and Nevis is a first choice for investors and HNWIs because the investment options have been tailored to align all the market realities and their preferences as it is specially designed to assist them and provide alternative citizenship. Along with this, the long-running CBI Programme has been an attractive means for investors to offer benefits like portfolio diversification, unrestricted mobility, enhanced business opportunities and greater freedom to travel, work, study and live. The Programme also comes with a plethora of benefits concerning the families of the investors, like family reunification, a better and safe future for children, improved education and healthcare facilities, a citizenship legacy and many more.
A 2022 CBI Index released by the Professional Wealth Management (PWM) Magazine by the Financial Times has regarded St Kitts and Nevis as the most diligent CBI Programme out of all nations for providing such a large range of benefits to the person investing in it.
The Citizenship by Investment Unit Head, Michael Martin, has stated that the Programme has been the leading light for the sustainable investor. He mentioned that the Programme comes with three options for innovators, at home and in the diaspora, to raise capital through CBI. Martin also highlighted that the CBI Programme is not only beneficial for foreign investors but also benefits the locals and nationals. He further hinted that citizens living in the country and in the diaspora could participate in this international industry by becoming Authorised Agents/ Service Providers or International Marketing Agents.
To ensure that the local community is empowered and the demands of the investors are fulfilled, the citizenship by investment programme of St Kitts and Nevis has undergone all the necessary amendments. The CBI Unit, in collaboration with the government, has implemented various plans and strategies to benefit the locals, investors and potential stakeholders in distinctive manners.
It is worth noting that all the funds generated through the Fund Option of the CBI Programme are used towards the development and advancement of the country. National Infrastructure and tourism industry are improved and enhanced through the contribution. The locals have also been getting several significant advantages through the boost in the Programme’s demand all over the world, such as better employment opportunities for the locals through infrastructural improvement, continuous enhancement in the health sector, along with better cash flow in the economy.
Besides this, the local businesses are also supported through the Sustainable Growth Fund. Business opportunities are also on the drive of expansion for the locals as they can also invest and make higher returns through better economic conditions in the country.
Additionally, being vulnerable to hurricanes and other natural calamities caused by climate change, the money from the fund option is being used to make St Kitts and Nevis resilient to these disasters. Funds from the SGF now finance power initiatives like developing and implementing urban heat response plans and retrofitting public buildings with climate-smart technology. Meanwhile, St Kitts and Nevis government has pledged “enhanced decision making related to storms and hurricanes and other climate change risks”. The fund option came into effect on April 1, 2018, following the Hurricane Relief elapsed. Since then, Sustainable Growth Fund (SGF) has also been contributing to the development of climate-resilient infrastructure and aids the nation in fighting against future climate changes and circumstances beyond one’s control.
St Kitts and Nevis, a two-island nation located in the Caribbean, has emerged as an attractive destination for investors and high-net-worth individuals. This is due to a combination of factors, including its stable political environment and attractive real estate market.
One of the most attractive features of St Kitts and Nevis for high-net-worth individuals is its Citizenship by Investment (CBI) programme. This program allows individuals and their families to apply for citizenship in the country by investing in the economy. The Programme offers a range of benefits, including the ability to work, live and travel in the country, access to more business opportunities and a safe as well as secure future for investors and their families. The country’s government has made a concerted effort to attract foreign investment, and this effort has paid off in the form of increased economic growth and development.