St Kitts and Nevis, two tiny gems separated by a narrow band of blue Caribbean Sea, offer some of the most exclusive hideaways in the world. One of the earliest of the Caribbean islands to be populated, Nevis was known for decades as the Queen of the Caribbees, a sugar-rich jewel in the crown of the British Empire.
Together, they are the smallest nation both by land mass and population in the whole of the Americas, an exclusive retreat in the New World that has enchanted poets, painters and princesses over the centuries. Brice Marden, perhaps America's most famous abstract artist, owns a dramatically restored plantation hotel on Nevis, and it is where Princess Diana found peace in the immediate aftermath of her divorce. Alexander Hamilton, one of America's Founding Fathers, was born on Nevis, and it is the island where the Romantic poets Coleridge and Wordsworth dreamed of settling.
Today, St Kitts is the more boisterous of the two islands, with Christophe Marina providing safe harbour for super yachts, and a strip dripping in the glitz and glamour of luxury stores and nightclubs.
Just a few minutes away by speedboat across The Narrows lies Nevis, the single peak of its volcano gently shrouded in the cloud that gave the island her name. Here, the sunsets, mango season and white-sand beaches dictate the rhythms of life.
In recent news, the Nevis Island Administration (NIA) recorded an 18.82 percent increase in revenue for 2022 compared to 2021, an indicator that Nevis’ economy is on the rebound post-Covid-19.
Citizenship by Investment (CBI). As the oldest CBI program in the world, it is regarded as the Platinum Standard, a level the country has maintained by constantly adapting to a changing world. It is one of the world's most accessible and successful CBI programs.
The revenue generated by the program accounts for a large portion on the country’s GDP. Considering this, changes have been made to the program in 2023 to make it as appealing as possible for investors looking for intriguing new options.
The Citizenship by Investment program can be broken down into three categories, the Sustainable Growth Fund (SGF), the Real Estate Option (REO), and the Public Benefit Option (PBO).
Why would anyone want to become the citizen of a stunning island nation? In addition to the obvious benefits of the laid-back lifestyle – the program also entitle members to:
- Visa-free or visa-on-arrival travel to 156 destinations including Hong Kong, Russia, Singapore, the UK, and Europe’s Schengen Area.
- Citizenship-by-descent is available to future generations.
- Applicants are able to include a spouse, children under 31, parents, grandparents aged 55 and over, and unmarried dependent siblings under 31 with no children, as well as to add dependents after they have been granted citizenship.
- St. Kitts and Nevis is a member of the Commonwealth, which entitles citizens to certain privileges in the UK and other Commonwealth countries.
- St. Kitts and Nevis is an attractive location for owning a second home, with good air links to Europe and North America.
- Dual citizenship is allowed by the nation.
- There is no minimum stay required.
The SGF was establish in March 2018. It is a fund that is controlled by the government of St. Kitts and Nevis and provides the revenue needed;
- for the funding of school construction and education-related initiatives, including, funding for computers, books, scholarships and bursaries;
- to mitigate the effects of climate change in Saint Christopher and Nevis, including, preparation for increased hurricane threats, droughts, emergency preparedness, public education, disaster planning and preparedness;
- to support economic growth in Saint Christopher and Nevis, including to improve competitiveness, support small and medium sized business enterprises, support manufacturing and industrial activities, support agricultural diversification and development, support the fisheries sector, support development of financial services, support further development of domestic and export driven manufacturing, support improvement in the ease of doing business and to support improvements in technological advancement;
- for the build out of infrastructure that supports all ports of entry, to repay loans for ports of entry, to enhance the port facilities of the airports and seaports and to support the build out of roads and utilities in Saint Christopher and Nevis;
- for the development and enhancement of medical facilities of Saint Christopher and Nevis;
- to support tourism development in Saint Christopher and Nevis;
- to promote, preserve, protect, and develop Saint Christopher and Nevis’ culture and heritage; and
- to support other sustainable growth initiatives in Saint Christopher and Nevis.
The fees ($USD) associated with this option are as follows,
From January 1, 2023 until June 30, 2023, the Limited Time Offer (LTO)
• $125,000 for main applicant
• $150,000 for main applicant and spouse
• $170,000 for main applicant and up to three dependents
• $10,000 for each additional dependent under 18 years of age
• $25,000 for each additional dependent 18 years or older
Applications submitted under the LTO will qualify for the Accelerated Application Process, with a shortened processing time from 90 days to 60 days, at no additional cost.
The standard due diligence fees for applications submitted under the LTO are;
- 7,500 for the main applicant; and
- $4,000 for each dependent age 16 or over
After June 30, 2023 the fees associated with this option are;
• $150,000 for main applicant
• $175,000 for main applicant and spouse
• $195,000 for main applicant and up to three dependents
• $10,000 for each additional dependent under 18 years of age
• $25,000 for each additional dependent 18 years or older
The Accelerated Application Processing fee after June 30, 2023 are;
- $35,000 for the main applicant
- $25,000 for the spouse of the main applicant
- $15,000 for each dependent under the age of 18; and
- $25,000 for each dependent age 18 and over
The due diligence fees after June 30, 2023 for the Accelerated Application Process are;
- $20,000 for the main applicant; and
- $10,000 for each dependent age 16 or over
- Unmarried;
- Childless;
- 25 years of age or younger;
- Dependent on the applicant for financial support.
The REO has two investment categories. The first are properties within an approved development and the second are private homes. The properties in both categories may be a condominium or a home. The minimum investment level is $400,000 and the property can be sold after 5 years of the issuance of the formal document conferring legal ownership of the property to the main applicant.
However, purchasing a share of a company that own a condominium or a home only apply to properties within an approved development. The minimum investment level is $200,000 and the share can be sold after 7 years of the issuance of the formal document conferring legal ownership of the share to the main applicant.
Once approval in principle is granted, the following government fee are applicable;
- $25,000 - for main applicant
- $15,000 – for souse
- $10,000 – for each dependent under 18 years of age
- $15,000 – for each dependent under 18 years or older
The standard due diligence fee are;
- 7,500 for the main applicant; and
- $4,000 for each dependent age 16 or over
The Accelerated Application Processing fees are;
- $35,000 for the main applicant
- $25,000 for the spouse of the main applicant
- $15,000 for each dependent under the age of 18; and
- $25,000 for each dependent age 18 and over
The due diligence fees for the Accelerated Application Process are;
- $20,000 for the main applicant; and
- $10,000 for each dependent age 16 or over
St. Kitts and Nevis has an enticing range of real estate options, from the clean, crisp lines of stylized new-builds to the quaint, colourful charm of classic Caribbean gingerbread retreats, to the unique draw of former plantations and enchanting sugar mills.
The Public Benefit Option allows an investor to determine the specific project he or she wishes to contribute to. The requirement for an approved project under this option are;
- to bring substantial benefit to the people of Saint Christopher and Nevis;
- to maximize local employment;
- to embark upon programs including transfer of technology and local capacity building.
Under the PBO, a minimum donation of US$175,000 is required to be made per each CBI application to an Approved Public Benefactor. This option replaced the Alternative Investment Option.
The standard due diligence fees for applications submitted under the PBO are;
- 7,500 for the main applicant; and
- $4,000 for each dependent age 16 or over
The Accelerated Application Processing fees are;
- $35,000 for the main applicant
- $25,000 for the spouse of the main applicant
- $15,000 for each dependent under the age of 18; and
- $25,000 for each dependent age 18 and over
The due diligence fees for the Accelerated Application Process are;
- $20,000 for the main applicant; and
- $10,000 for each dependent age 16 or over
- Where a person executes a binding Purchase and Sale Agreement with the owner of an approved real estate, an application may be submitted on his or her behalf through an authorized person.
- The full purchase price of the real estate shall be in keeping with the Minimum Investment amount and Government fees.
- Within three (3) months of the submission of an application for Citizenship by Investment through the purchase of real estate, the Unit shall notify the authorized person on behalf of the main applicant, that the application has been;
- Approved in principle;
- Denied; or
- Delayed for cause and still being processed.
- No later than six (6) months after the date of a notification of approval in principle pursuant to the sub-regulation 3), the main applicant shall be required to show that
- Full and unencumbered title to the relevant property has been transferred to him or her, directly or indirectly through a local company, foundation or other approved entity; and
- That all prescribed government fees have been paid before the grant of Citizenship by Investment can occur.
- Beneficial ownership through a company, shall be permissible only if such company,
- Has issued all of its authorized shares to the main applicant;
- Is established and maintained under the laws of St. Kitts and Nevis;
- Is not exempt of offshore entity;
- Submits through the main applicant irrefutable evidence as to its beneficial ownership, which evidence shall be certified by the Registrar of Companies.
- Real estate that has been purchased that qualifies an applicant for citizenship under the Citizenship by Investment program at the minimum amount of $200,000 shall not be resold for a period of at least seven (7) years after the granting of citizenship and at the amount of $400,000+ shall not be resold for a period of at least five (5) years after the granting of citizenship.
- Subject to sub-regulation 6., where real estate has already been the subject of a Citizenship by investment application, that real estate shall not be eligible for use in a subsequent Citizenship by Investment application before January 2017; and
- An application for Citizenship by Investment shall be considered only after;
- An Approved Project in respect of construction of real estate has commenced; and
- All monies have been placed in an irrevocable escrow account with an authorized person, a registered trust company or with any entity whose business is the provision of trust or custodial services, provided that the holders of such escrow accounts shall comply with guidelines published by the Unit.
The above is for information only and does not form part of a contract or guarantee. All applications must be processed by an approved agent in St Kitts or Nevis and we are able to provide a list of those firms able to provide this service. The list of approved projects in the Citizenship by Investment program offers many different types of properties including villas, condominiums, luxury Resort communities, beach front apartments and land for construction.
Contact us for further details:
Office: +1 869 469 1120
Wayne Tyson: +1 869 662 1120