St. Kitts and Nevis: Higher Investment Threshold for Citizenship by Investment Program, Among Other Changes
August 1, 2023
The government of St. Kitts and Nevis has announced several changes to the Citizenship by Investment (CBI) Program, intended to boost investor confidence in the program and bolster the country’s reputation. The changes include a new Sustainable Island State Contribution (SISC) investment option for foreign nationals investing at least USD 250,000 (or USD 300,000 for a family of two or USD 350,000 for a family of three and four) to help advance St. Kitts and Nevis into a sustainable island state; namely, to increase local food production; transition to green energy; diversify the economy; attract and support sustainable industries; evolve the creative economy; recover from the impact of the COVID-19 pandemic; and expand social protection. The program replaces the previous Sustainable Growth Fund option which had a minimum investment threshold of USD 125,000 for a main applicant, half the amount required under the new SISC. Another change includes that all investors applying for CBI are now required to undergo an interview and background due diligence checks conducted by independent professional firms based in the United Kingdom, United States, or the European Union, commissioned by the government of St. Kitts and Nevis. Previously, this was not required. Other changes include limitations on the methods by which the CBI program can be advertised internationally.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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