St Kitts and Nevis is the pioneer of the citizenship by investment industry. It is the smallest country in the Western Hemisphere but has a lot to offer.
Home to cloud-shrouded mountains and pristine white beaches, this beautiful twin-island Federation lies in the middle of the Atlantic Ocean and the Caribbean Sea. We take a look at the St Kitts and Nevis Citizenship by Investment (CBI) programme.
How did the St Kitts and Nevis Citizen by Investment programme come about?
St Kitts and Nevis established its Citizenship by Investment Unit (CIU) in 1984, only one year after the country regained the autonomy of their government from British rule. This gesture of the government provides ample proof that they understood the growing importance of the citizenship industry for the world’s future.
Even though the twin-island Nation is the smallest country in the Caribbean, the islands are home to the most trustworthy and secure CBI Programme across the globe. With the ever-changing world, the CBI Programme of St Kitts and Nevis has changed accordingly. Most modifications and updates result from CIU’s commitment to keeping the programme relevant and up to date with the needs of the investors.
Also Read: 2023 Updates to St Kitts and Nevis CBI Regulations
Seven benefits of the St Kitts and Neves citizenship programme
St Kitts and Nevis has one of the most sought-after citizenship programmes in the world. It offers high net-worth individuals (HNWI) a plethora of benefits. These include:
1. Alternative Citizenship
One of the primary benefits of investing in the programme is that the applicants can get dual citizenship. This means they can obtain alternative citizenship without surrendering the citizenship of their home country. Ultimately, investors can enjoy all the benefits of being a citizen of St Kitts and Nevis without giving up their citizenship.
2. Favourable Tax Regime
St Kitts and Nevis offers business owners from across the globe a good tax regime that helps them easily handle their business operations in a foreign nation.
3. Business Expansion
With the citizenship of the Caribbean nations, HNWIs can expand the operations and scope of their business to the global level.
4. Safety and Security
One of the most lucrative aspects of applying for the citizenship of St Kitts and Nevis is that the programme offers a safe home away from home for the investors and their whole family.
5. Lifetime Citizenship
Once an investor secures the citizenship of St Kitts and Nevis, it stays with them for the rest of their lives. Individuals can benefit from all the facilities available with citizenship.
6. Ability to Pass On Citizenship
Another amazing thing is that once an individual has citizenship, they can pass it on to future generations. This is an extension of the fact that citizenship stays with the investors for their entire lifetime.
7. Processing Time
Applications get processed fairly quickly. During the processing time, the CIU runs due diligence and background checks on all individuals seeking citizenship. Due diligence is a critical part of the application processing so that no undeserving applicant with a criminal background can get citizenship in the country.
Investment Options for Citizenship in St Kitts and Nevis
Obtaining second citizenship in St Kitts and Nevis is available through various investment options. HNWI from all parts of the world can apply for citizenship in the Caribbean nation using a variety of options, including:
Sustainable Growth Fund
The Sustainable Growth Fund (SGF) of St Kitts and Nevis is one of the most popular routes to second citizenship. The government utilises contributions under this option to implement their sustainable development projects.
The SGF option offers HNWI and investors an opportunity to apply for citizenship for themselves as well as their families.
As a part of the most recent renewal of the CBI Programme undertaken by the government – the CIU of St Kitts and Nevis has decided to provide investors with a Limited Time Offer (LTO) for a period of six months from 1 January to 30 June 2023.
Under this offer, the minimum amount of contribution to the SGF is as follows:
- Single applicant: US$125,000
- A main applicant with spouse: US$150,000
- A main applicant with spouse and two dependents (regardless of age): US$170,000
- Each additional dependent under the age of 18: US$10,000
- Each additional dependent 18 or over US$25,000
From 1 July 2023 onwards, the minimum SGF contribution will be adjusted as follows:
- Main applicant: US$150,000
- Main applicant and spouse: US$175,000
- Main applicant, spouse, and two dependents: US$195,000
- Each additional dependent under 18: US$10,000
- Each additional dependent aged 18 or over: US$25,000
The Real Estate Investment Option
Under this option, HNWI are encouraged to invest a minimum investment of US$200,000 in an approved real estate development. To further ensure the sanctity of the programme, the CIU undertakes several security checks on the developers and the real estate developments under their management. Additionally, the Real Estate Investment Option is governed by the CIU under a set of rules.
The real estate unit cannot be resold until a period of seven years has elapsed after the date of the issuance of the formal legal document issued in favour of the main applicant.
The CIU set the number of real estate units sold, the construction completion schedule and the corresponding escrow drawdown process. To ensure that the investment remains safe, the CIU has set penalties under the newly renewed CBI Programme.
Private Home Sale Investment Option
This investment option investors owners to invest US$400,000 to buy a single-family dwelling house designated as an Approved Private Home. Investing under this option will also give HNWI all the benefits of citizenship. Private homes cannot be resold until a period of five years has elapsed since the issuance of the deed.
Public Benefit Investment Option
This investment option allows the applicants to invest in specific Public Benefit Projects. Any amounts received under this option are utilised for the development of those particular projects in which the investors choose to invest their money.
It is worth noting that the government utilises the funds received through the various investment options of the country’s citizenship programme in its developmental projects. The CBI funds are an important part of maintaining the economic stability of St Kitts and Nevis, keeping in mind their status as Small Island Developing Nations.
An outstanding reputation
St Kitts and Nevis’s CBI Programme has served as the face of the citizenship industry for almost four decades. Keeping up such a high standard of service is no easy feat. It is the direct result of innovation and commitment from the CIU’s operations in the country.
The renowned St Kitts and Nevis’s Citizenship by Investment Programme continues to change. The innovation of this programme allows the country to present investors with a product that is well-respected and world-class.