IN525 - Important Changes to the St Kitts and Nevis Economic Citizenship Programme

On 5 April 2018, the St Kitts & Nevis, Citizenship by Investment Unit (CIU) made an exciting announcement regarding permanent changes to the Economic Citizenship Programme. 

Two new options have now been introduced, as detailed below:

Option 1: The New Sustainable Growth Fund

We are delighted to announce the introduction of the New Sustainable Growth Fund (SGF). 

This fund has been established to replace the Hurricane Relief Fund and is designed to attract direct investment into the infrastructure of St Kitts & Nevis. 

The costs are as follows:

  • Single applicant: $150,000
  • Addition of spouse: $25,000
  • Each additional dependant: $10,000

Option 2: Real Estate

The Government has also created a new Real Estate option, requiring an investment of US$200,000.

As well as this new reduced investment level, the Government has also lowered the processing fees as follows;

  • Main applicant: $35,000
  • Addition of spouse: $20,000
  • Each additional dependant: $10,000

 This option is available for the purchase of real estate in new luxury developments. Relevant properties cannot be resold for 7 years after the purchase date. 

 It is possible to use this option with other existing real estate developments.  However, prior approval is required from the Government.

Additional Costs Include:

  • Government due diligence fee (main applicant): $7,500
  • Government due diligence fee (dependants over 16): $4,000
  • Application forms (per person): $250
  • Dixcart liaison fee (main applicant and spouse): $10,000
  • Dixcart liaison fee (each additional dependant): $2,500

Other Attractive Features of the St Kitts & Nevis Programme Remain

  • The age of dependant parents remains 55 (it was originally 65)
  • The upper age limit for young adult dependant children, remains extended from 25 to 30

The Accelerated Scheme

An accelerated scheme exists whereby a St Kitts & Nevis passport is guaranteed to be granted within sixty days (often it will be granted within forty five days), after completion of the application and the provision of the correct documentation:

  • Main applicant: $25,000
  • Each dependant over 16: $20,000
  • Each dependant under 16: $500

Excluded Countries

Please note that, the St Kitts & Nevis residence programme is not open to citizens from Iraq, Yemen or Nigeria.

Additional Information

If you require any additional information regarding the revised St Kitts & Nevis Economic Citizenship Programme, please speak to Graham Sutcliffe at the Dixcart office in Nevis: advice.nevis@dixcart.com. Alternatively, please speak to your usual Dixcart contact or contact us: advice@dixcart.com.

 

 

Categories: Nevis, 2018, Dixcart Domiciles