St Kitts and Nevis’s citizenship by investment programme is the world’s longest-running programme of its kind, having been established back in 1984.
Enabling individuals to obtain St Kitts and Nevis citizenship in return for investing in the country, applicants have four routes of investment, one of which is the Sustainable Growth Fund. This involves a minimum $150,000 contribution — though this has been reduced to $125,000 until July 2023 — with the fund established by the country’s government in order to facilitate economic development and social upliftment in St Kitts and Nevis.
Here we explore the areas that benefit from the Sustainable Growth Fund and how these investments help to achieve the desired economic and social goals.
A nation’s educational system is fundamental to its prosperity. By providing citizens with the knowledge and skills they need to enjoy successful careers, education fuels both social and economic stability. St Kitts and Nevis recognises this and directs investment from the Sustainable Growth Fund into its education system.
For instance, St Kitts and Nevis’s Education Sector Plan has seen the government invest in aspects like improving access to education, the quality of education, and a stronger regulatory framework for the sector. Policies to these ends include increasing the number of ECD (early childhood development) spaces in both public and private assisted centres, introducing enhanced student support services, and helping schools better cater to students with special needs.
A functioning healthcare system is the backbone of a successful country. St Kitts and Nevis has 11 health centres, including four hospitals, where citizens can receive primary healthcare services, including maternal and child health and chronic disease management. That said, Prime Minister Dr. Terrance Drew has asserted that introducing universal healthcare is a priority.
In recent times, the Sustainable Growth Fund has financed healthcare initiatives like the renovation of the Sylvia Garnett Primary Health Care Facility in Tabernacle and the building of the Cardiac Catheterisation Unit at the Joseph Nathaniel France General Hospital in Basseterre. Going forward, money from the fund will also be used for a new General Hospital in West Basseterre and a permanent quarantine facility for infectious diseases.
St Kitts and Nevis is unfortunately vulnerable to hurricanes, and with climate change leading to more dangerous storms, the dual-island nation is even more at risk. Consequently, money from the Sustainable Growth Fund is being used to make St Kitts and Nevis more resilient to hurricanes and contribute towards reversing climate change.
The country has committed to moving to 100 per cent renewable energy as well as a carbon dioxide emissions reduction target of 61 per cent. Funds from the Sustainable Growth Fund now finance initiatives like developing and implementing urban heat response plans and retrofitting public buildings with climate-smart technology. Meanwhile, the St Kitts and Nevis government has pledged “enhanced decision making related to storms and hurricanes and other climate change risks”.
As the country’s main source of income, the tourism industry is absolutely critical to St Kitts and Nevis. The country welcomed over one million visitors a year pre-pandemic, with the tourism industry making up around 22 per cent of the economy and employing over 40 per cent of St Kitts and Nevis’s workforce. Consequently, tourism has been a natural focus of investment for the government via the Sustainable Growth Fund.
For example, the fund has contributed to the building of new resorts like the Cades Beach Resort, helped attract globally renowned brands such as the Park Hyatt Hotel to the island, and funded ecotourism initiatives aimed at reducing the environmental impact of the industry. These include the Nevis Tourism Authority’s Sustainability Project, which aims to promote the island as a more eco-friendly destination and reinforce its commitment to the environment.
These are just some of the main ways the Sustainable Growth Fund is being used to facilitate economic development and social upliftment in St Kitts and Nevis.
If you’d like to contribute to these initiatives yourself, while also gaining the opportunity to obtain St Kitts and Nevis citizenship and all the benefits of being a dual citizen, then get in contact with our team today. CS Global Partners is the world’s leading citizenship and residency advisory firm that can assist you every step of the way in your application, increasing your chances of a successful submission.