Industry News
St. Kitts unveils updated CBI program

After a period of uncertainty, St. Kitts finally unveiled its updated citizenship by investment (CBI) programme, the “Sustainable Growth Fund”.  This will replace its previous CBI offering, the “Hurricane Relief Fund”, which expired March 30th.

 

The Hurricane Relief Fund was initially launched in 2017 as a short term response to dealing with hurricanes and other natural disasters which from time to time plague the Caribbean nation.

 

However, the country has now announced its strategic, long-term alternative. The Sustainable Growth Fund was formally announced on 21st March by Hon. Timothy Harris. With the introduction of the sustainable growth fund, the country aims to continue improving its brand and offering, by showcasing to investors the lessons it has learned from previous issues related to its old CBI programme, the Sugar Industry Diversification Fund.

 

The updated initiative aims to ensure the sustainable development of the country for future generations, by focusing on funnelling funds into areas which will be of benefit to all citizens, including:

  • Developing medical and healthcare facilities
  • Educational initiatives such as building schools
  • Cultural and historical preservation
  • Aiding economic growth in areas including but not limited to agriculture, fisheries, imports and exports, and technology
  • Advanced preparation for potential future events such as hurricanes and droughts

 

The breadth this funds’ focus is believed to be critical in promoting the development of all areas of the St. Kitts economy, thus ensuring its sustainability in years to come.

 

Per the updated official Saint Christopher and Nevis Citizenship by Investment Regulations, investors have the following options:

  1. Non-refundable contribution to the Sustainable Development Fund:

A: $150,000 contribution for single applicant

B: $25,000 for spouse of main applicant

C: $10,000 for each additional qualified dependant

D: $15,000 international marketing agent commission to be paid upon approval

 

  1. Real estate investment

A: US$400,000 for each main applicant. Two or more applicants may apply for citizenship together by purchasing one piece of real estate, provided that each applicants contributes the minimum of US$400,000 towards the investment, or

B: US$200,000 for each main applicant. Two or more applicants may apply for citizenship together by investing in one piece of real estate, provided that each main applicant contributes the minimum investment of US$200,000 in real estate worth a minimum of US$400,000 and the transfer shall be exempt from stamp duty under the Stamps Act, Cap. 20.40.

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