Changes in St. Kitts and Nevis Citizenship by Investment Program
/Important Update: Changes to St Kitts & Nevis CBI Program :
As of July 27, 2023, the St Kitts & Nevis Citizenship by Investment Program has undergone significant changes aimed at enhancing its attractiveness and ensuring its alignment with the evolving global investment landscape.
Introducing the Sustainable Island State Contribution (SISC)
A transformative shift has taken place with the introduction of the Sustainable Island State Contribution (SISC), replacing the previous Sustainable Growth Fund (SGF). Please note that the Limited Time Offer for the SGF option, previously extended until January 31, 2024, has now concluded, effective immediately.
The SISC option comes with revised minimum investment amounts:
Main applicant only: USD 250 000
Family of 2: USD 300 000
Family of 4: USD 350 000
Each additional dependent under 18: USD 50 000
Each additional dependent aged 18 or over: USD 75 000
By choosing the SISC route, applicants contribute significantly to the growth and prosperity of St Kitts & Nevis, ensuring the nation's future as a sustainable and thriving island state.
Please read more here for more key changes to the citizenship by investment program
The new head of the Citizenship by Investment Unit in St. Kitts and Nevis, Michael Martin, announced changes and a Limited Time Offer in the CBI Program. The changes will take effect on 1 January 2023.
“Today these changes show the international community that we place honesty and integrity above all else as we look to deliver a product that will bring us a positive reputation and send a clear message that we are open for business,” said Michael Martin.
The Program offers four routes to second citizenship:
Donating into the Sustainable Growth Fund - Special Limited Time Offer between 1 January - 30 June 2023
Investing in Government approved real estate or
Purchasing a private home, or
Investing in the Public Good Investment Option.
Each of these routes has been well-devised and are backed by laws to ensure transparency, good governance, and pragmatism.
So, what are the changes?
Sustainable Growth Fund - Special Limited Time Offer from 1 January to 30 June 2023!
The revenue from the fund is aimed to facilitate economic development and social upliftment in the country. This is the quickest and easiest route to second citizenship in St Kitts and Nevis.
From 1 January to 30 June 2023, there will be a Limited Time Offer where a main applicant, following stringent background checks, can make a minimum investment of US$125,000 to the Fund and receive approval in principle within 60 days of submission of application.
Under the Limited Time Offer, investment options are as follows:
Main applicant - US$125,000
Main applicant and a spouse - US$150,000
Main applicant, spouse and two dependants - US$170,000
Each additional dependant under 18 - US$10,000
Each additional dependant over 18 - US$25,000
Applicants will qualify for the Accelerated Application Process (AAP) with a shortening of processing timeframe from 90 days to 60 days, at no additional cost during this period while it’s US$ 25,000 normally!
From 1 July 2023 onwards, the minimum amount of SGF contribution will be adjusted as follows:
Main applicant — US$150,000
Main applicant and a spouse — US$175,000
Main applicant, spouse and two dependants — US$195,000
Each additional dependant under 18 — US$10,000
Each additional dependant over 18 — US$25,000
Real Estate Option
From January 2023 onwards, only Approved Developments will be eligible for the Real Estate Investment Option under the new CBI regime.
The minimum real estate investment required by law is US$200,000 (resellable after 7 years).
Upon submission of an application, non-refundable due diligence fees must also be paid. In addition to these fees, real estate buyers should be aware of purchase costs (mainly compulsory insurance fund contributions and conveyance fees).
Private Homes Sale Option
The Private Home Sale Investment Option will be retained as a permanent investment option under the CBI Programme, where the minimum investment per application is US$400,000 in a private single-family dwelling house designated as an Approved Private Home.
Two or more main applicants may apply for citizenship by investment together by purchasing one piece of real estate, provided each main applicant contributes the minimum investment of US$400,000.
The full purchase price will be placed in an irrevocable escrow account.
Owners of any properties previously designated as Approved Private Homes will have a 45 day window to reapply to keep their status as an Approved Private Home upon the coming into effect of the new CBI Regulations. Owners of such properties are required to apply to the Board of Governors of the CIU to have their properties re-designated as Approved Private Homes again.
An Approved Private Home is subject to the following restrictions:
It cannot be resold within seven years;
It cannot be resold to any other CBI applicant; and
It cannot be converted into apartments or condominiums.
Public Good Investment Option
From January 2023 onwards, the Alternative Investment Option (AIO) under the current CBI Programme is to be replaced by the newly introduced Public Good Investment Option (PGIO) where the minimum investment per application is US$175,000 in an Approved Public Good Investment, payable to an Approved Public Good Investor.
Only Approved Public Good Investments qualify for the PGIO. All developments previously designated as AIO Developments will lose such designation within 45 days of the coming into effect of the new CBI Regulations.
Investors of such developments are required to apply to the Board of Governors of the CIU to be designated as Approved Public Good Investors, whereby they can apply to have their investments designated as Approved Public Good Investments.
Also, there are some changes in the fees.
Government Fees
Standard application fees for Real Estate, Private Home and PGIO investment options
Main applicant — US$25,000
Spouse — US$15,000
Dependant child under 18 — US$10,000
Dependant child/other qualified dependant over 18 — US$15,000
Accelerated CBI application
Main applicant — US$42,500
Spouse — US$32,500
Dependant child under 18 — US$22,500
Dependant child/other dependant over 18 — US$37,500
Due Diligence Fees
Upon submission of an application, non-refundable due diligence fees must also be paid. These fees amount to US$7,500 for the main applicant and US$4,000 for each dependant who is over the age of 16 years (or who will turn 16 within 3 months of submission of the application).
Application Processing Fee
A non-refundable application form processing fee of US$250 is payable to the Unit on every CBI application.
