There are four significant changes to the St. Kitts and Nevis Citizenship by Investment Program that have been put into place from the 1st of January, 2023.
The St. Kitts and Nevis Citizenship by Investment Program was the first citizenship program to be introduced in the Caribbean, expanding into a now $30 billion USD industry, spread across more than 30 countries. From visa-free travel to tax and personal safety, there are myriad reasons to consider a second citizenship for yourself and your family.
The twin island federation of St Kitts and Nevis is known for its spectacular natural beauty and extensive tropical forests. The islands are also home to private beach clubs, exclusive hotels, international restaurants and some new resort communities. In particular, the marina on the St Kitts southeast peninsula has been a landmark development for the island.
Here are four major changes to the program announced in January 2023:
1) CIU Management – The country appointed new management for the Citizenship By Investment Unit (CIU) ensuring the review, monitoring, and due diligence process continues to be comprehensive and efficient. to the 30th of June 2023, the CIU has introduced special terms for investors under the investment contribution Sustainable Growth Fund that has been reduced to US $25,000. This will allow CBI applications that are submitted with this limited-time offer to shorten the processing time from 90 days to 60 days.
2) Limited Time Offer – From the 1st of January to the 30th of June 2023, the CIU has introduced special terms for investors. The investment contribution under the Sustainable Growth Fund (SGF) has been reduced by $25,000 USD so the minimum investment is now $125,000 USD. This will also be accompanied by a limited-time offer to shorten application processing time from 90 days to 60 days.
3) Real Estate Investment Option Changes – Until recently, property with a minimum value of $400,000 USD would qualify for a buyer to apply for citizenship. Now, all real estate developers are required to apply to the Board of Governors of the CIU in order for them to establish the property as an approved development. This is a reversal to the pre-2020 rules of the program. The minimum investment amount is now $200,000 USD.
4) Public Good Investment Option (PGIO) – This option is replacing the Alternative Investment Option (AIO). It will still remain an investment in social infrastructure and housing with a minimum contribution of $175,000 USD.