Changes have been made to the St Kitts & Nevis Citizenship by Investment Programme (CBI), for a limited time period of six months: 1 January 2023 – 30 June 2023.
Three benefits are available during this limited time offer period:
- Contributions that need to be paid by applicants to the Sustainable Growth Fund (SGF) have been reduced.
- Government fees for a spouse and dependants respectively, are enhanced compared to fees post the start of July 2023.
- The time limit to process applications has been decreased from 90 days to 60 days.
Contribution to the Sustainable Growth Fund
Contribution costs to the Sustainable Growth Fund (SGF), for the limited offer time period are confirmed as:
- Main applicant: US$125,000
- Main applicant and a spouse: US$150,000
- Main applicant, spouse and two dependants: US$170,000
- Each additional dependant under 18: US$10,000
- Each additional dependant over 18: US$25,000
These costs are US$25,000 less for each of the categories of; main applicant, main applicant and spouse, and a family of four, compared to the contribution costs as from the start of July 2023.
Real Estate Investment Option
From January 2023 onwards, only Approved Developments are eligible for the Real Estate Investment Option under the new CBI regime.
The minimum investment amount remains US$200,000.
However, there are now clear guidelines as to what cannot be included as part of the investment costs, a number of fees are specifically excluded. Please contact Dixcart Nevis, for further details: email@example.com.
Private Homes Sale Investment Option
The Private Home Sale Investment Option is 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.
An Approved Private Home is subject to the following restrictions:
- It cannot be resold within 7 years;
- It cannot be resold to any other CBI applicant; and
- It cannot be converted into apartments or condominiums.
Public Good Investment Option
As from January 2023, the Alternative Investment Option (AIO) has been replaced with, the newly introduced, Public Good Investment Option (PGIO). The minimum investment per application is US$175,000 in an Approved Public Good Project, payable to an Approved Public Good Investor.
On designating an investor as an Approved Public Good Investor, the Government of St Kitts and Nevis will specify; the number of public good investment units of the Approved Public Good Project to be sold, the schedule of completion and distribution of the units, and the corresponding escrow drawdown process.
Government Fees for CBI Applications
From January 2023 onwards, for non-accelerated CBI applications under the Real Estate Investment Option, Private Home Sale Investment Option and the PGIO, the government fees payable upon 'approval-in-principle' are as follows:
- Main applicant: US$25,000
- Spouse: US$15,000
- Each dependant child or qualified dependant under 18: US$10,000
- Each dependant aged 18 or above or qualified dependant: US$15,000
The fee for the addition of a spouse will increase to: US$20,000, as from 1 July 2023.
For accelerated CBI applications, the enhanced government fees payable, upon 'approval-in-principle,' for the limited time period: 1 January 2023 – 30 June 2023 are:
- Main applicant: US$42,500
- Spouse: US$32,500
- Each dependant child or other qualified dependant under 18: US$22,500
- Each dependant aged 18 or above or qualified dependant: US$32,500
The fees for the addition of a spouse and/or other qualified dependant will increase to: US$37,500, as from 1 July 2023.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.