The Public Benefit Option (PBO) which is an investment option in the St Kitts and Nevis Citizenship by Investment (CBI) Programme has undergone restructuring.
The PBO is another investment option that is supported by the Government for investors to obtain alternative St Kitts and Nevis citizenship.
The Head of the Citizenship by Investment Unit (CIU), Mr Michael Martin, emphasises the PBO’s significance in developing the CBI Programme.
The St Kitts and Nevis Prime Minister, Honourable Dr Drew, highlighted the importance of the CBI Programme in the country’s economic development.
Honourable Dr Drew considers the CBI Programme as a pathway for international investors to secure their future and their families.
St Kitts and Nevis Public Benefit Option Investment Requirements
Investors interested in the PBO are required to contribute to projects that will benefit the twin-island federation can apply to the CIU for approval as an Approved Public Benefactor.
Once approved, they can designate their projects as Approved Public Benefit Projects for sale.
These projects, endorsed by the CIU, aim to boost local employment and support initiatives like technology transfer and capacity building.
Main applicants under the Public Benefit Option must make a minimum contribution to an Approved Public Benefit Project. This is payable to the designated benefactor.
Role of St Kitts and Nevis CIU
The CIU is a government agency overseeing the CBI Programme, is tasked with processing and overseeing CBI applications.
It ensures compliance with national and international CBI laws and regulations and evaluating applicants’ eligibility and investment obligations.
The CIU has implemented enhanced security measures to ensure a more robust due diligence process.
Overview of the St Kitts and Nevis CBI Programme
Founded in 1984, the CBI Programme is the first and finest in the investment migration industry that has allowed discerning investors and their families to acquire alternative citizenship.
The CBI Programme provides High-Net-Worth Individuals (HNWIs) and their families with alternative citizenship in the picturesque destination.
The CBI Programme consists of a rigorous due diligence process which complies with international standards.
By facilitating community-focused projects, the CBI Programme contributes to local economic growth. It offers successful applicants increased mobility, sustainable investment opportunities, and enhanced economic freedom.
Benefits of Acquiring St Kitts and Nevis Citizenship
The CBI Programme is a straightforward transition to obtaining alternative citizenship, with favourable business and investment conditions.
Another advantage includes favourable tax practices, as well as avoiding double taxation.
Moreover, accessibility to quality healthcare and education facilities in the twin-island federation.
There is a plethora of investment opportunities in the country that investors can explore and partake in. St Kitts and Nevis’ tourism sector is booming which indicates recovery post-Covid pandemic.
Recent Changes to St Kitts and Nevis CBI Programme
The CIU implemented numerous changes, including an increase of the minimum contribution amounts to each investment option.
The Sustainable Island State Contribution (SISC) replaced the Sustainable Growth Fund (SGF).
Additionally, mandatory interviews for all applicants to be conducted by international accredited firms commissioned by the CIU.
All interviews will either be completed in person in St Kitts and Nevis or in person at an approved location by the Board of Governors of the CIU or virtually.