St Kitts and Nevis announced that it is offering investors the chance to gain coveted second citizenship in the nation through its citizenship by investment programme.
The island in the West Indies said that this offer is for a limited time only and investors can contribute a reduced amount of $125 000 (about R23m) to the Sustainable Growth Fund, with the offer ending on June 30, 2023.
According to global news wire, Knowledge Bylanes, St Kitts and Nevis has been on a drive to attract discerning investors and recently announced substantial and industry-leading changes to its citizenship by investment programme.
“The changes will see high levels of integrity being injected into the programme thanks to these administrative improvements. The citizenship by investment programme has also been structured to allow for greater transparency and accountability, and investment options have been tailored to align with market realities while preserving the platinum brand,” said Knowledge Bylanes.
The global news wire reported that from January 1, 2023 until June 30, 2023, those looking to tap into St Kitts and Nevis’ enriching base can make a donation of just $125 000 into the country’s Sustainable Growth Fund (SGF) and gain second citizenship in just 60 days. The contribution will increase to $150 000 per main applicant from July 1, 2023.
“Citizenship by investment programmes offer the opportunity for reputable individuals to legally obtain new citizenship in return for an investment in the economy of the host country. The main goal of these programmes is to find a win-win solution for both investors and the countries offering citizenship by investment programme,” said Knowledge Bylanes.
According to the news wire, this process aims to be relatively smooth, provided that an investor delivers all the necessary documentation, passes all necessary due diligence checks and makes the qualifying investment.
“The investment made by that individual is often put towards improving the quality of life for those inhabiting the host country. The process to obtain citizenship of St Kitts and Nevis takes approximately 90 days from submission to approval in principle on the normal route. However, this can be fast-tracked to 60 days or less under the nation’s Accelerated CBI Application for an additional fee,” said Knowledge Bylanes.
There are no obligatory travel or residency requirements for this programme and no interview or language requirements. St Kitts and Nevis’s citizenship by investment programme has four investment options:
The Sustainable Growth Fund
From January 1 to June 30, 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of $125 000 to the Fund and receive approval in principle within 60 days of submission of the application.
From July 1, 2023 onwards, applicants investing through the Sustainable Growth Fund are required to make a minimum investment of $150 000 and can expect approval in principle within 90 days of submission of the application. The funds raised by the SGF go towards supporting sustainable growth initiatives in the country.
Real Estate
This route involves investing in government-approved real estate, with independent investors needing to make a contribution of at least $200 000 and hold the property for a minimum of seven years.
Private Homes
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 $400 000 in a private single-family dwelling house designated as an Approved Private Home.
Public Benefit Option
Public Benefit Option requires a minimum investment per application of $175 000 in an Approved Public Benefit Investment, payable to an Approved Public Benefit Investor.