The Government of St Kitts and Nevis has announced significant changes to its Citizenship by Investment Programme. These changes are specifically designed to attract high net worth investors who value the citizenship of the twin-island nation, signaling the country’s intent to maintain its leadership position in the international investment migration industry.
St Kitts and Nevis, a pioneer of the global investor immigration industry, has consistently introduced forward-looking solutions based on solid legislative principles and strict due diligence policies. For nearly 40 years, the programme has empowered the country to flourish without overreliance on international financial aid.
The newly introduced changes aim to safeguard the nation’s integrity, enhance the sustainability of the programme, and preserve the privileged status of being a citizen of St Kitts and Nevis. They are expected to attract the right kind of international investment necessary for the advancement of the country.
Prime Minister, the Hon. Dr. Terrence Drew, stressed that these changes signify their commitment to “preserving the exclusivity and prestige associated with being a citizen of St Kitts and Nevis.” Furthermore, he added that the Government has always adopted a considered approach when making decisions that impact the international community and the people of St Kitts and Nevis.
The cornerstone of the revised Citizenship by Investment Programme is the introduction of the Sustainable Island State Contribution (SISC), which replaces the previous Sustainable Growth Fund. The SISC is anchored in seven pillars which include increasing local food production, transitioning to green energy, diversifying the economy, supporting sustainable industries, developing the creative economy, recovering from the COVID-19 pandemic, and expanding social protection to shield the most vulnerable.
With contributions beginning from US$250,000 for a single applicant and increasing with the addition of a spouse or dependants, the SISC sets a high bar for potential investors, underlining the nation’s commitment to its future sustainability and growth.
The changes extend to real estate options as well. The minimum investment for the Developer’s Real Estate Option has been increased to US$400,000, with the property to be held for seven years. Furthermore, for an Approved Private Home to qualify as a Citizenship by Investment option, a minimum investment of US$400,000 for a condominium or US$800,000 for a single-family dwelling is required by the main applicant.
The Government has also imposed a new requirement for all Citizenship by Investment applicants to undertake a mandatory interview, which can be conducted virtually or in person. This additional layer of due diligence is designed to further fortify the integrity of the programme.
With these innovative and strategic changes, St Kitts and Nevis is set to boost international investor confidence and bolster its global reputation, all the while ensuring that the nation continues on its path towards sustainable growth and development.
