The Changes to Saint Kitts and Nevis CBI Program
The government of Saint Kitts and Nevis has made some significant changes to its Citizenship-by-Investment (CBI) Program. The updates have been effective since February 9, 2023, and with the main goal to make the citizenship process more efficient for applicants. We’ve highlighted a few key changes below; please check out the St Kitts Citizenship by Investment unit site for all details.
Sustainable Growth Fund (SGF) Minimum Contribution
The CBI Unit is offering a Limited Time Offer (LTO) of the SGF where the main application
costs are reduced by $25,000. However, after July 1st, 2023, the minimum amount of
contribution is as follows:
$150,000 for the main applicant
$175,000 for the main applicant and the spouse
$195,000 for the main applicant and up to 3 applicants
$10,000 for each additional dependent under the age of 18
$25,000 for each additional dependent over the age of 18
On top of this, there are some important changes related to the main investment options.
Changes to Real Estate Investment
A real estate unit of an Approved Development part of an application submitted after March 10th, 2023, cannot be resold until a period of seven years has elapsed.
A purchaser’s right to sell real estate units is maintained for those issued between
January 1, 2012, and March 10, 2023.
A real estate unit of an Approved Development issued after March 10th, 2023, cannot be
resold to another CBI applicant unless substantial further investment has been injected
into the real estate unit.
All real estate properties previously designated as Approved Projects are required to
apply to the Board of Governors to be re-designated as Approved Developments. If not,
they will no longer qualify under this investment option.
If you’re considering a private home investment option, the holding period was reduced by two years (from nine to seven years). However, the minimum investment amount remains the same.
Changes to Post-Approval Citizenship Addition Fees
The following fees now apply to all accelerated CBI applications outside the LTO for SGF, as post-approval application fees:
$35,000 for the main applicant
$25,000 for the spouse of the main applicant
$15,000 for each dependent under the age of 18
$25,000 for each dependent over the age of 18
If you’d like to add additional dependants post-approval
For the addition of a spouse after approval-in-principle of main applicant: US $30,000 or
US $40,000 for accelerated applications
For the addition of a dependant child born after application submission but before the
date the Certificate of Registration is issued: US $10,000 or US $15,000 for accelerated
Why were those changes implemented?
The government decided to implement the changes to increase the accuracy and efficiency of the whole application process. “Since their enactment and following consultation with our key stakeholders, it is acknowledged that some of the changes set out in the Regulations required further clarification. Accordingly, we took on board these recommendations. Yesterday, the Prime Minister, in his capacity as Minister of National Security, Citizenship, and Immigration, issued updated Regulations with the aim of ensuring that the requirements of the CBI Programme are clear and ambiguous and meet the needs of our stakeholders and prospective applicants,” said the appointed Head of the CIU, Michael Martin.
Why choose Saint Kitts and Nevis Citizenship Program?
Saint Kitts and Nevis is one of the most popular Citizenship-by-Investment Programs. It
has been operating since 1984. While being the oldest in the world, it provides a potential
applicant with many benefits. This mesmerizing twin-island country can give you both
tranquillity and relaxation, the idyllic islands’ stunning natural beauty and access to the global
market. Furthermore, it can help you grow your business.
Here are the TOP reasons why you should consider obtaining second citizenship from St. Kitts and Nevis:
Visa-free or visa-on-arrival access to 150 countries
Tax-friendly environment. No global income, dividends, wealth, and inheritance tax
An opportunity to get long-term visas to the USA and Canada
Fast and clear application process. Get your second citizenship in several months!
Wide range of real estate options for investing
No need to reside in the country
Sounds interesting? Then do not hesitate to apply for our consultation!