The Saint Kitts & Nevis citizenship by investment unit, under the new leadership of Mr Michael Martin, who was appointed as CEO of the citizenship unit on the 13th of December, has announced a number of amendments to the St Kitts citizenship by investment programme.
Mr Martin has also appointed a new Board of Governors who are tasked to oversee the operations of the programme and the citizenship unit. A new Technical Committee was also appointed to ensure that all due diligence checks are comprehensively completed on all applicants.
The Saint Kitts & Nevis citizenship programme is described as having the Platinum Standard in the investment migration industry, and such changes are intended to maintain this level. The programme offers applicants visa free travel to approximately 150 countries including the UK and the European Schengen Area.
New Limited Time Offer – Sustainable Growth Fund Donation Option
One of the important amendments announced is the introduction of a Limited Time Offer which will run for six months, between January until 30th of June 2023. The Limited Time Offer (LTO) will reduce the investment required by $25,000.
Under the LTO, the investment required under the Sustainable Growth Fund Donation option will be as follows:
- Single applicant: US$125,000
- 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
Additional processing and due diligence fees apply. Moreover, applications submitted under the LTO will benefit from the shortening of processing timeframe from 90 days to 60 days. The income received by the fund will be used to facilitate economic development and social upliftment in the country.
From the 1st of July the investment required under the Sustainable Growth Fund Donation option will be increased as follows:
- Single applicant: US$150,000
- Applicant and a spouse: US$175,000
- Main applicant, spouse and two dependants: US$195,000
The contribution for additional family members will remain unchanged.
Amendments to Real Estate Investment Option
From the 1st of January 2023, only Approved Developments will be eligible for the Real Estate Investment Option. Real estate developers, who were previously designated as Approved Projects, will be required to apply to the Board of Governors of the citizenship unit to have them designated as an Approved Development.
The minimum investment amount will remain the same: $200,000 for purchasing a share in an approved development, or $400,000 for purchasing a private house. Investing in a private home means a single house is sold as one unit and cannot be converted into apartments, condominiums or divided otherwise. Such house cannot be sold within the first 5 years after the granting of citizenship and cannot be used by a subsequent citizenship investor.
The Saint Kitts & Nevis citizenship by investment unit, under the new leadership of Mr Michael Martin, who was appointed as CEO of the citizenship unit on the 13th of December, has announced a number of amendments to the St Kitts citizenship by investment programme.
Mr Martin has also appointed a new Board of Governors who are tasked to oversee the operations of the programme and the citizenship unit. A new Technical Committee was also appointed to ensure that all due diligence checks are comprehensively completed on all applicants.
The Saint Kitts & Nevis citizenship programme is described as having the Platinum Standard in the investment migration industry, and such changes are intended to maintain this level. The programme offers applicants visa free travel to approximately 150 countries including the UK and the European Schengen Area.
New Limited Time Offer – Sustainable Growth Fund Donation Option
One of the important amendments announced is the introduction of a Limited Time Offer which will run for six months, between January until 30th of June 2023. The Limited Time Offer (LTO) will reduce the investment required by $25,000.
Under the LTO, the investment required under the Sustainable Growth Fund Donation option will be as follows:
- Single applicant: US$125,000
- 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
Additional processing and due diligence fees apply. Moreover, applications submitted under the LTO will benefit from the shortening of processing timeframe from 90 days to 60 days. The income received by the fund will be used to facilitate economic development and social upliftment in the country.
From the 1st of July the investment required under the Sustainable Growth Fund Donation option will be increased as follows:
- Single applicant: US$150,000
- Applicant and a spouse: US$175,000
- Main applicant, spouse and two dependants: US$195,000
The contribution for additional family members will remain unchanged.
Amendments to Real Estate Investment Option
From the 1st of January 2023, only Approved Developments will be eligible for the Real Estate Investment Option. Real estate developers, who were previously designated as Approved Projects, will be required to apply to the Board of Governors of the citizenship unit to have them designated as an Approved Development.
The minimum investment amount will remain the same: $200,000 for purchasing a share in an approved development, or $400,000 for purchasing a private house. Investing in a private home means a single house is sold as one unit and cannot be converted into apartments, condominiums or divided otherwise. Such house cannot be sold within the first 5 years after the granting of citizenship and cannot be used by a subsequent citizenship investor.