Significant Changes in Saint Kitts and Nevis Citizenship by Investment Program

Table Of Contents
  1. Doubling of Minimum Investment
  2. Introduction of the Sustainable Island State Contribution (SISC)
  3. Interviews and Application Processing
  4. Real Estate Investment Increases
  5. Conclusion

Saint Kitts and Nevis Citizenship by Investment Unit (CIU) has recently announced some major changes to their investment program. These changes came into effect on July 27, 2023, and include new donation and real estate investment thresholds, an updated investment fund, and a requirement for interviews.

Doubling of Minimum Investment

One of the significant changes announced by the CIU is the doubling of the minimum investment for both the donation and real estate options. This means that investors are now required to donate at least $250,000 USD or invest in real estate worth a minimum of $400,000 USD.

  • The minimum investment for the donation option has increased from $125,000 USD to $250,000 USD.
  • The minimum investment for the real estate option has increased from $200,000 USD to $400,000 USD.

Along with the reduced investment requirements, the faster processing time of 60 days – down from the standard 90 days – continues to apply under the extended offer.

Introduction of the Sustainable Island State Contribution (SISC)

The Saint Kitts and Nevis CIU have replaced the previous Sustainable Growth Fund (SGF) with a new fund called the Sustainable Island State Contribution (SISC). The minimum SISC contributions required by law are as follows:

  • Main applicant only: $250,000 USD
  • Main applicant and a spouse: $300,000 USD
  • Main applicant and one dependant: $300,000 USD
  • Main applicant, a spouse and one or two dependants: $350,000 USD
  • Main applicant and two or three dependants: $350,000 USD
  • Each additional dependant under 18: $50,000 USD
  • Each additional dependant aged 18 or over: $75,000 USD

Interviews and Application Processing

From now on, every main applicant is required to attend an interview conducted either virtually or in person. This can be held at an embassy, consulate, or even within Saint Kitts and Nevis. The interview will be conducted by an independent professional firm or officials from the CIU.

The application processing period will take up to 120 days, after which the CIU will inform whether an application is approved-in-principle, denied, or delayed for cause and is still being processed.

Enhanced Due Diligence Measures

To strengthen its security, Saint Kitts and Nevis has decided to tighten application checks. This includes a new requirement for biometric data and fingerprinting from all applicants. It’s a significant step forward to ensure the right kind of people get the citizenship.

Post Citizenship Additions

The new changes also allow family members such as a spouse, child, and siblings to be added at any time post obtaining citizenship of the main applicant. This is subject to additional fees.

Real Estate Investment Increases

Saint Kitts and Nevis have increased the required real estate investment to $400,000. Additionally, the real estate must be held for at least 7 years. To further protect citizenship investors, the Government has implemented escrow legislation.

Conclusion

The St Kitts passport is one of the most powerful CBI passports in the Caribbean, offering visa-free access to 155 countries and territories. This includes the EU Schengen states, Russia, the UK, and Ireland. The St Christopher (Kitts) and Nevis passport is valid for 10 years and can be renewed at any consulates where you live.

These significant changes are set to streamline the process and enhance the integrity of the St Kitts and Nevis Citizenship by Investment Program. As always, prospective investors are advised to consult with a reputable agent to guide them through the process.

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