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St. Kitts & Nevis Lowers Real Estate Investment Threshold

In a significant update to its Citizenship by Investment Program (CIP), St. Kitts & Nevis has lowered the minimum investment amounts required for the real estate option. Effective immediately, the new real estate thresholds are set at $325,000 for condominiums and development shares—down from $400,000—and $600,000 for single-family private homes, previously $800,000. These adjustments were officially announced on October 25, 2024, through Statutory Rules and Orders No. 43 of 2024, with Prime Minister Terrance Drew’s administration striving to maintain St. Kitts & Nevis’ competitive position within the Caribbean citizenship market.

This move comes just months after the government reduced its minimum donation amount to $250,000, aligning its contribution threshold with those of other Caribbean CBI programs. These changes follow Prime Minister Drew’s recent address, in which he acknowledged a 60% decrease in CIP revenue this year. The government’s “rushed” reforms, aimed at preserving EU and UK visa-free access, prompted necessary adjustments to ensure the program’s continued appeal to investors.

Enhancing CIP Accessibility and Affordability

In addition to the updated investment thresholds, the government has introduced several other changes aimed at making the program more accessible and appealing to a wider pool of applicants. The minimum age requirement for dependent parents has been lowered from 65 to 55, increasing eligibility for family members seeking to join applicants under the CIP. Furthermore, existing CIP citizens now have a reduced fee of $7,500—previously $10,000—to add newborn dependents under three years old.

These modifications underscore St. Kitts & Nevis’ commitment to enhancing the value and flexibility of its CIP offerings, ensuring that they remain accessible and supportive of family reunification.

Strengthening Oversight and Compliance

Another notable change involves the restructuring of the CIP oversight mechanism. The technical committee overseeing CIP operations now includes a representative from the Ministry of National Security, two civil servants appointed by the Minister, the Chief Executive Officer of the Citizenship by Investment Unit (CIU), and a member of the Board of Governors. This restructuring follows the resignation of former CIU CEO Michael Martin in September and reflects the administration’s commitment to bolstering oversight and governance within the program.

With these policy updates, St. Kitts & Nevis aims to ensure the continued appeal and long-term stability of its CIP program. These adjustments reflect the government’s proactive approach to adapting its investment framework to meet both international expectations and the needs of investors.

For more insights on the St. Kitts & Nevis Citizenship by Investment Program and how it compares to other Caribbean programs, reach out to our team at Citizens International for a personalized consultation.