St Kitts & Nevis Launch Two New Citizenship By Investment (CBI) Schemes
Updated: Jun 12, 2018
The scheme first launched back in 1984, has been a massive success for the twin-island nation and has been internationally recognised for its innovative approach along with its strict processes and vetting procedures, often touted as an industry standard for CBI programs.
This long-standing success continues even today as St Kitts & Nevis currently offers residents visa-free access to over 140 countries/territories including Germany, Italy, and the United Kingdom. It’s no wonder that many investors consider it to be a market leader in the field and among the best CBI programs in the Caribbean.
Following on the success of this scheme, the Prime Minister of St Kitts and Nevis, Dr the Honourable Timothy Harris revealed, in his March 21st press conference, that the World’s oldest CBI scheme is expanding with two new investment opportunities, including The Sustainable Growth Fund which will replace the successful Hurricane Relief Fund when it comes to an end on 30th March 2018. The new CBI schemes will not be replacing any other existing schemes already in place but will be put in as additions to those that already exist, according to a report from PR Newswire.
The Sustainable Growth Fund would require a contribution of US $150,000 for a single applicant, inclusive of government fees, or US $195,000 for a family of four; with each additional dependant incurring a fee of US $10,000. The PM went on to add that this pricing is both ‘attractive and sustainable’ and the funds gathered within would greatly benefit the country as they would be allocated to various sustainable areas e.g. healthcare, education, and infrastructure.
The second addition to the scheme comes in a bid to attract more luxury resort developments on the islands in the form of a real estate offering. This would require a US $400,000 investment which may be split between two applicants at US $200,000 each plus government fees, with the only caveat being that it can only be resold after seven years.
PM Harris ended by stating that the Cabinet is confident that these new schemes will invigorate the country’s CBI program. While also maintaining its very high standards of integrity, rigour, and due diligence procedures which lead to its position as a market leader in the first place.