In a bid to keep up with European Union demands and uphold the prestige of their passport, St. Kitts and Nevis announced a revision of their Citizenship by Investment Program on July 27, 2023. These modifications respond to heightened attention from the EU and the UK towards Caribbean investment migration programs, particularly in anticipation of the ETIAS and ETA e-visa systems set to limit unrestricted access in 2024.

Effective immediately, St. Kitts and Nevis’ Citizenship by Investment Program now features changes with notable implications on investment thresholds and the entire application process.

ST. KITTS TIGHTENS INVESTMENT CRITERIA

St. Kitts and Nevis’ program, a pioneer in global investment migration, is renowned for its affordability. However, the latest alterations reflect the program’s inherent value by raising its investment minimums, some of which have doubled.

ENHANCEMENTS IN PROPERTY INVESTMENT OPTIONS

While the St. Kitts and Nevis program has traditionally leaned towards hotel share investments, the new scheme emphasizes personal home ownership. The program now allows two distinct real estate investment routes:

1. Developer’s Real Estate Option: Continues to include shares in hotel rooms and properties with a new minimum investment of $400,000, to be held for seven years.
2. Approved Private Home Option: Allows investment in condominiums or single-family homes priced at $400,000 and $800,000 respectively, with a holding period of seven years.

The revamped program highlights the need for clarity on the status of joint ownership and hopes to provide more information soon.

BOOST FOR SOCIAL PROJECTS AND ESG INVESTMENTS

The new Approved Public Benefit Project route promotes public projects with direct local benefits, requiring a minimum investment of $250,000 by an Approved Public Benefactor that enhances local employment.

Moreover, a new ESG investment option, the Sustainable Island State Contribution (SISC), replaces the previous Sustainable Growth Fund, aligning with the country’s commitment to the UN’s SDG program. The SISC targets the country’s seven pillars of sustainability, with new minimum investments per application tier.

St Kitts and Nevis Citizenship

REFINED APPLICATION AND DUE DILIGENCE PROCESSES

The program overhaul extends to the application process and due diligence requirements. Interviews are now mandatory and can be held virtually or in person, while all background checks will be conducted by an authorized US, UK, or European firm. Upon approval, the Certificate of Registration must be collected in person in St. Kitts and Nevis or one of their consulates/embassies.

These transformations reflect St. Kitts and Nevis’ ambition to attract distinguished applicants who can make significant contributions to the country’s growth and development, ensuring the program’s standards remain high and align with the nation’s vision.

As always, St. Kitts and Nevis continue to lead the investment migration industry, demonstrating how dual citizenship offers global high-net-worth individuals the ability to leverage their success for lifestyle security, wealth preservation, and self-sovereignty.

Confused about navigating these changes? Yusuf Boz and the team at Notte Global are here to assist. With expert knowledge in investment migration and years of experience, we can help simplify the process and get you closer to your dream of owning a passport from St. Kitts and Nevis. Reach out today to kickstart your journey.

For more information; https://notteglobal.com/citizenship-by-investment/st-kitts-and-nevis-citizenship/