The government of St. Kitts and Nevis has announced innovative changes to its Citizenship by Investment Program

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The government of St. Kitts and Nevis has announced innovative changes to its Citizenship by Investment Program

7 months ago (01 August 2023)

 

St. Kitts and Nevis

 

 

The government of St. Kitts and Nevis is proud to announce groundbreaking changes to its Citizenship by Investment Program, solidifying the island nation's position as a global leader in investment migration.

Commitment to High Net-Worth Investors and Genuine Citizenship Value

The recent changes in the Citizenship by Investment Program have been meticulously designed to attract high net-worth investors and individuals who genuinely value the citizenship of St. Kitts and Nevis. With a focus on exclusivity and prestige, the program aims to offer unparalleled opportunities for those seeking to become citizens of the Federation.

Pioneering Ideas and Strong Legal Frameworks

St. Kitts and Nevis have been at the forefront of investor immigration, introducing pioneering ideas backed by robust legal frameworks and rigorous due diligence procedures. The success of the program has allowed the Federation to prosper, reducing the need for external financial assistance and empowering its citizens to progress.

Strategic Changes for the Program's Integrity and Sustainability

Building upon the updates made in December 2022, the latest changes in the Citizenship by Investment Program have strategic objectives. They are aimed at safeguarding the nation's integrity, ensuring the long-term sustainability of the program, and preserving the esteemed status of being a citizen of St. Kitts and Nevis.

Prime Minister Dr. Terrence Drew's Vision

Prime Minister Dr. Terrence Drew articulated the significance of these changes, saying, “Today, St. Kitts and Nevis takes another bold step in reaffirming our commitment to not only offer the world’s best Citizenship by Investment Programme but to also present a tightly regulated system that acts as a best-in-practice defense mechanism against illicit actors and those seeking to bypass our high-end investment and contribution options. We are dedicated to preserving the exclusivity and prestige associated with being a citizen of St. Kitts and Nevis.”

 

He further explained, “As a government, we consider the impact of our decisions not only on our people but also on the international community. After deep introspection, analysis of the Programme, and consultations with our international partners, we have determined that now is the opportune time to demonstrate to the world, as we did in December 2022, that our citizenship is not easily accessible to those who do not value it or understand the benefits St. Kitts and Nevis has to offer. We will continue engaging with the international community to provide clarity and assurance to investors, highlighting that St. Kitts and Nevis is a secure destination for long-term investments.”

Introducing the Sustainable Island State Contribution (SISC)

As part of the government's efforts to recover from the impact of COVID-19, the Citizenship by Investment Program has been overhauled, introducing the Sustainable Island State Contribution (SISC). The SISC aims to transform St. Kitts and Nevis into a Sustainable Island State through seven pillars:

       - Increasing Local Food Production

       - Transitioning to Green Energy

       - Diversifying the Economy

       - Attracting and Supporting Sustainable Industries

       - Evolving the Creative Economy

       -Expanding Social Protection and Safety Nets for Vulnerable Populations

Investment Options and Contributions

For a single applicant, contributions to the SISC start at US$250,000 and increase with the addition of spouses or dependents. Families of three or four members have a minimum contribution of US$350,000, while families of two members have a minimum contribution of US$300,000.

The Developer's Real Estate Option now requires a minimum investment of US$400,000. Additionally, Approved Private Homes, including condos and single-family homes, can be purchased as Citizenship by Investment options with minimum investments of US$400,000 or US$800,000, respectively.

Enhanced Due Diligence and Investor Confidence

To ensure the integrity of the Citizenship by Investment Program, investors are now required to undergo a mandatory interview, either online or in person, at a location determined by the Citizenship by Investment Unit and approved by the Board of Governors. Background investigations, carried out by independent professional firms from the United Kingdom, the United States, and Europe, will be required as per the Board of Governors' request.

A Nation of Fortitude and Cooperation

These modifications to the Citizenship by Investment Program are expected to enhance St. Kitts and Nevis's reputation on the international stage and foster investor confidence abroad. The country's stable political system, sound macroeconomic framework, vigilant independent judiciary, vibrant private sector, and independent media are further reinforced by the competent, responsive, skilled, and credible Citizenship by Investment Unit, supported by a Board of Governors and a Technical Committee.

In conclusion,

the government of St. Kitts and Nevis has taken significant strides to strengthen its position as a global leader in investment migration. With innovative changes and a commitment to excellence, the Citizenship by Investment Program is poised to attract high-net-worth individuals and those who truly value the privilege of becoming citizens of this esteemed nation. As St. Kitts and Nevis continue to evolve as a Sustainable Island State, it opens new opportunities for investors to contribute to the country's growth and prosperity while enjoying the exclusivity and prestige of citizenship.

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