St Kitts and Nevis Makes Meaningful Changes to its Citizenship by Investment Programme
The Government of St Kitts and Nevis recently announced significant changes to its Citizenship by Investment Programme, aiming to solely attract high net worth investors who value the citizenship of the country. The modifications intend to safeguard the nation’s integrity, ensure the program’s sustainability, and allow the nation to continue to thrive without relying on international financial aid. This act demonstrates the goal of St Kitts and Nevis to act as a reference point for the investment migration industry.
Prime Minister the Hon. Dr. Terrence Drew elaborated, “St Kitts and Nevis takes another bold step in reaffirming our intention to not only offer the best Citizenship by Investment Programme in the world, but also to offer a programme held together by a tight regulatory system designed to be a best-in-practice defence mechanism against illicit actors and those who try to bypass our high-end investment and contribution options. We are continuously committed to preserving the exclusivity and prestige associated with being a citizen of St Kitts and Nevis.”
Increased Minimum Investment Amounts and Diligent Processing
The government has replaced the previous Sustainable Growth Fund with a new investment option called the Sustainable Island State Contribution (SISC). Investors contributing to SISC will support the country’s development across various pillars, such as increasing local food production, transitioning to green energy, diversifying the economy, and more. Contributions now start at US$250,000. Also for this minimum investment amount, a public benefit unit in an Approved Public Benefit Project will qualify.
The minimum amount for investing in the Developer’s Real Estate Option is now US$400,000. The property must be held for a minimum of seven years and can be re-sold only once to another purchaser applying for Citizenship by Investment. The investment minimum is the same for an Approved Private Home.
The new regulations also require investors applying for citizenship to undergo a mandatory interview, either virtually or in person, conducted by an independent professional firm commissioned by the Citizenship by Investment Unit. Background due diligence checks will be conducted by independent professional firms from the United Kingdom, USA, and Europe. The changes aim to boost international investor confidence and enhance St Kitts and Nevis’ reputation globally.
The Impact for St Kitts and Nevis
St Kitts and Nevis is positioning itself as a sought-after economic citizenship destination by demonstrating resilience, a stable political system, a credible Citizenship by Investment Unit, and a supportive private sector. The country seeks out applicants with substantial investment capabilities and a commitment to contributing to the nation’s development. Overall, the changes to the Citizenship by Investment Programme showcase the country’s dedication to sustainable growth and maintaining high citizenship standards.
If you would like to learn more about how Citizens International can help you apply for St Kitts and Nevis citizenship by investment, please do not hesitate to set up a free consultation with our team.