St Kitts and Nevis Citizenship By Investment Programme
A welcome note from the Head of the CIU
St. Kitts and Nevis citizenship by investment program was created with the long-term goal of making the nation the most sought-after program in the world by fostering high standards of integrity and development. Better accountability and exposure will be made possible by this restricted program, which is the cornerstone of any successful citizenship by investment initiative and the mark of a good governance structure.
The Citizenship by Investment Unit (CIU), which will be made up of effective and dedicated professionals, will make sure that the program improves processing speed and accuracy while maintaining stringent due diligence procedures to guarantee that only investors of the highest calibre are approved. The program will be operated with complete transparency, with much better control in the unit by a new Board that will be established to oversee the program, and will be guided by three core principles: sustainability, good governance, and pragmatism.
Investment options have been modified to market realities while protecting the platinum brand that St Kitts and Nevis has created and cultivated over four decades of conducting the world’s oldest citizenship-by-investment program.
The Program provides the following routes for obtaining second citizenship:
- Investing in the Sustainable Growth Fund
- Acquiring Government-approved real estate or a private house
- Participating in the Public Good Investment Option.
Each of these paths has been carefully planned and is supported by legislation to promote transparency, good governance, and pragmatism. Applicants may be certain that they are investing in a safe jurisdiction where they will receive tangible returns and benefits.
Investors and residents of St. Kitts and Nevis should feel secure knowing that the integrity of the program will be upheld because of rigorous due diligence, excellent administration, and visibility.
St Kitts and Nevis Citizenship By Investment Programme
Citizenship-by-investment is one of the key cornerstones of St. Kitts and Nevis’ economic development, one that has brought significant benefits to the country over the years. In this industry, this is still a favourite location for anyone looking for a second passport from a renowned and trusted country. This program was introduced in 1984 and has since been recognized as the market’s “Platinum Standard” brand, with the CBX Index consistently ranking it as the world’s top program.
The CIU is committed to strengthening the CBI program and has prioritized reform of the CBI program to further enhance the CBI program’s integrity and competitiveness.
Management of CBI Unit
Citizenship by Investment Board of Governors
From January 2023, the CIU will be managed by the newly appointed citizenship by the investment board of governors, who will be responsible for advising the PM on the administration and activities of the unit, as well as monitoring and reviewing the CBI program’s progress and policies.
Technical Committee
The newly established technical committee will be responsible for reviewing all CBI applications, as well as ensuring that all due diligence background checks and spot checks on all CBI applications are fully completed.
Sustainable Growth Fund Option
This fund was created to assist with St. Kitts and Nevis’s economic growth and social advancement. Additionally, the fund is utilized to give additional financing for the promotion of local tourism, the support of sustainable growth projects in the nation, the preservation of local culture and heritage, and the provision of financial support to educational and medical facilities around the country.
SGF Limited Time Offer – 1 January 2023 – 30 June 2023
From 1 January to 30 June 2023, the CIU will offer a Limited Time Offer (LTO) to further enhance the CBI Programme’s attractiveness.
US$125,000 – Main applicant
US$150,000 – Main applicant and a spouse
US$170,000 – Main applicant, spouse and two dependants
US$10,000 – Each additional dependant under 18
US$25,000 – Each additional dependant over 18
With the LTO, applicants will be eligible for the Accelerated Application Process (AAP) which reduces the minimum contribution amount payable by applicants and shortens the processing timeframe from 90 days to 60 days at no additional charge.
SGF: From 1 July 2023 onwards
The minimum SGF contribution will change as of 1 July 2023 in the manner described below:
US$150,000 – Main applicant
US$175,000 – Main applicant and spouse
US$195,000 – Main applicant, spouse, and two dependants
US$10,000 – Each additional dependant under 18
US$25,000 – Each additional dependant 18 or over
Real Estate Option
Only approved developments will be qualified for the Real Estate Investment Option under the new CBI system starting in January 2023.
- The minimum legal requirement for real estate investment is US$200000 (resellable after 7 years).
- Due diligence expenses that are non-refundable must also be paid when applying. Buyers of real estate should be aware of additional charges, including mandatory insurance fund contributions and conveyance fees.
Private Homes Sale Option
The private home sale investment option will be kept as a permanent investment option under the CBI program, with a minimum investment of USD 400,000 per application required for a private single-family home designated as an approved private home.
If each main applicant makes a minimum investment of USD 400,000, two or more applicants may apply for citizenship by investing jointly in the purchase of a single piece of real estate.
The entire purchase price will be held in an irreversible escrow account.
Upon the implementation of the new CBI regulations, owners of any properties previously designated as approved private homes will have 45 days to reapply to maintain their status as such. To have their properties reclassified as approved private homes once more, the owners of such properties must apply to the CIU board of governors.
There are the following limitations to this option:
- It cannot be resold within seven years.
- It cannot be resold to any other CBI applicant.
- It cannot be converted into apartments or condominiums.
Public Good Investment Option
The newly introduced Public Good Investment Option (PGIO), which has a minimum investment per application of USD 175,000 in an approved public good investment, payable to an approved public good investor, will take the place of the Alternative Investment Option (AIO) under the current CBI Programme as of January 2023.
Only investments in approved public goods are eligible for the PGIO. Within 45 days of the new CBI regulations taking effect, all developments that had previously been designated as AIO developments will lose that designation.
The board of governors of the CIU must receive an application from investors in such developments before they can have their investments designated as approved public good investments.
Government Fees
The following application fees shall be paid to the Unit on every non-accelerated CBI application after approval-in principle is granted by the Unit, except for Sustainable Growth Fund contributions, and in addition to the due diligence fees.
Standard application fees for Real Estate, Private Home and PGIO investment options
US$25,000 – Main applicant
US$15,000 – Spouse
US$10,000 – Dependent child under 18
US$15,000 – Dependent child/other qualified dependants over 18
An application for a CBI is processed through the accelerated route within sixty calendar days of the application’s filing date. When approval-in-principle is given, the Unit must be paid the following application fees to qualify.
Accelerated CBI application
US$42,500 – Main applicant
US$32,500 – Spouse
US$22,500 – Dependant child under 18
US$37,500 – Dependant child/other dependants over 18
Due Diligence Fees
Non-refundable due diligence fees must be paid when an application is submitted. The total of these fees is $7,500 for the principal applicant and $4,000 for each dependent who is older than 16 years old (or who will turn 16 within 3 months of submission of the application).
Application Processing Fee
There is a non-refundable application form processing fee of US$250 payable to the Unit on every CBI application.
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