Published on: November 05, 2024
Prime Minister Dr Terrance M Drew's National Address, Basseterre, St. Kitts and Nevis — October 17, 2024
The government of St. Kitts and Nevis has announced significant updates to its Citizenship by Investment (CBI) programme, aimed at enhancing its attractiveness and integrity. These changes reflect a commitment to fostering economic growth while ensuring that the programme remains competitive in the global market.
Key Changes to the St. Kitts and Nevis Citizenship by Investment Programme
- Reduction in Investment Requirements:
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- In the Saint Kitts and Nevis CBI Porgramme, the minimum investment for real estate options has been lowered from $400,000 to $325,000, making it more accessible for potential investors. Additionally, the threshold for purchasing a private home has been reduced from $800,000 to $600,000.
- Expanded Eligibility for Family Members:
- The St. Kitts and Nevis CBI programme has lowered the age limit for including parents as dependents from 65 years to 55 years, allowing younger parents to benefit from the programme.
- New Fees for Dependent Children:
- A fee of $7,500 will apply for adding dependent children under three years of age after the main applicant's citizenship is granted.
- Tighter Eligibility Criteria:
- Applicants who have been declared bankrupt within ten years prior to their application will now be ineligible for the programme.
- Strengthened Governance Measures:
- The establishment of a Technical Committee comprising five industry experts has been reinforced to oversee the integrity of the Saint Kitts and Nevis CBI programme.
Government's Vision on the St. Kitts and Nevis Citizenship by Investment Programme
Prime Minister Dr. Terrance Drew stated at an earlier event in June, “And therefore, I want to place it where it should be placed in high esteem, respected, and also not to be taken for granted, but to also demonstrate to you who may not have known when you make your investment what it may go into.”
Conclusion
In conclusion, with these updates, the St. Kitts and Nevis Citizenship by Investment programme is set to attract more investors seeking citizenship through investment opportunities. Fundamentally, the government's focus on accessibility, family inclusivity, and strong governance reflects a commitment to fostering an environment conducive to economic growth while maintaining high standards of integrity.
For detailed information about the updated Saint Kitts and Nevis CBI programme and application processes, connect with us today to explore how we can assist you in navigating these exciting opportunities!