Changes in the St Kitts and Nevis CBI Programme

On 5 April 2018, new changes were announced by the St Kitts & Nevis Citizenship by Investment Unit (CIU) to their Economic Citizenship Programme.

As of 31 March 2018, the Hurricane Relief Fund investment option is no longer available. Those applying from 01 April 2018 have two new investment options now. The option 1 that replaced the Hurricane Relief Fund turns out to be more expensive if applying with dependants, but the option 2 balances this out, at least cost-wise.

Option 1: The New Sustainable Growth Fund

The Government set up the New Sustainable Growth Fund (SGF) to attract direct investment in the infrastructure of St Kitts & Nevis.

Applicants may qualify for citizenship through a contribution to the SGF:

• Main applicant – US$ 150,000
• Spouse – US$ 25,000
• Each additional dependant – US$ 10,000

Option 2: Real Estate

Applicants may qualify for citizenship through an investment in a pre-approved real estate project of at least US$ 200,000 (instead of US$ 400,000 previously), with the Government also lowering their processing fees.

Processing fees have been cut down like this:

• Main applicant – US$ 35,000
• Spouse – US$ 20,000
• Each additional dependant – US$ 10,000

However, this option is now available only for the purchase of real estate in new luxury developments and the investment can only be returned, i.e. the relevant properties can be re-sold, 7 years after the purchase date.

Real estate buyers should still be aware of additional purchase costs (mainly compulsory insurance fund contributions and conveyance fees).

Remaining Benefits of the St Kitts & Nevis CBI Programme

Key remaining features include:

• The age of dependent parents is defined as 55 (originally 65).
• The upper age limit for young adult dependent children remains, extended from 25 to 30.
• The accelerated scheme where it can be possible to obtain a passport within forty-five days of application, with the payment of an additional fee, will continue.