Basseterre, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The luxurious island of St Kitts and Nevis is offering investors the chance to gain coveted second citizenship in the nation through its citizenship by investment programme. For a limited time only, investors can contribute a reduced amount of US$125 000,000 to the Sustainable Growth Fund – the offer ends 30 June 2023.
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.
From 1 January 2023 until 30 June 2023, those looking to tap into St Kitts and Nevis’ enriching base can make a donation of just US$125 000.00 into the country’s Sustainable Growth Fund (SGF) and gain second citizenship in just 60 days. From 1 July 2023, the contribution will increase to US$150 000,00 per main applicant.
Why should you invest in St Kitts and Nevis
Being a dual citizen of St Kitts and Nevis offers a plethora of benefits – from family reunification and global mobility to enhanced security and increased economic opportunities, there are so many reasons entrepreneurs and families should seriously consider the dual island nation.
Situated between Anguilla and Montserrat, St Kitts and Nevis features pristine beaches, wondrous volcanoes, and beguiling rainforests. St Kitts and Nevis has a population of over 52,000, with an economy reliant on tourism, export-oriented manufacturing, and offshore banking.
St Kitts and Nevis Citizenship by Investment Programme is the world’s longest-running CBI programme (launched in 1984) and one of the most trusted, being the first of its kind.
Since the island has award-winning and internationally acclaimed education institutions like veterinary and medical universities, it attracts global-minded professionals. People from all over the world come to St Kitts and Nevis, over a million a year to be exact, because of its booming tourism sector. Many enjoy it so much that they end up staying. Now, with more work-from-home policies than ever, many see the Caribbean as the perfect destination to get away from the bustle of big cities while continuing to be connected when business calls.
In an increasingly globalised world, unrestricted mobility is a vital tool that can help level your business to an international market. A 2022 report released by the Financial Times’ Professional Wealth Management (PWM) magazine recognised St Kitts and Nevis for having the most extensive global mobility offering in the Caribbean out of all Caribbean CBI nations.
St Kitts and Nevis remains in high demand as a renowned port for its exceptional tourism, complemented by an unmatched experience. The nation achieved the honorary marquee tourist destination status and welcomed one million cruise passengers for two consecutive years prior to the pandemic. This means that no matter where you invest in the country, you can get a bang for your buck as almost every sector on the islands is touched by people coming and going.
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.
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.
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
Limited Time Offer:
From 1 January to 30 June 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$ 125,000 to the Fund and receive approval in principle within 60 days of submission of the application.
From 1 July 2023 onwards, applicants investing through the Sustainable Growth Fund are required to make a minimum investment of US$ 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.
This route involves investing in government-approved real estate, with independent investors needing to make a contribution of at least US$ 200,000 and hold the property for a minimum of seven years.
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 US$ 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 US$175,000 in an Approved Public Benefit Investment, payable to an Approved Public Benefit Investor.