St. Kitts CIP Offers Limited-Time Benefits Until June 2023
Qualifying for the St. Kitts and Nevis citizenship by investment program is currently cheaper as the country has reduced contributions and government fees until June 30, 2023.
St. Kitts and Nevis has the oldest citizenship by investment program in the world. Its CIP has always been in the news for employing innovative measures to attract investment immigrants.
The program has also replaced the Alternative Investment Option with the Public Good Investment Option, which has a minimum investment costlier than contributing to the Sustainable Growth Fund but cheaper than investing in real estate.
Reduced Contribution to Sustainable Growth Fund
Investors planning to qualify for St. Kitts and Nevis citizenship by making a one-time contribution to the Sustainable Growth Fund will enjoy a $25,000 discount until the end of June.
|Number of Applicants||Until June 30||From July 1|
|Main applicant and spouse||$150,000||$175,000|
|Main applicant, spouse and two dependents||$170,000||$195,000|
Contribution for each additional dependent below 18 years and above 18 years is $10,000 and $25,000 respectively. This will remain unchanged.
Real Estate Investment
The $200,000 real estate investment option is available only if the CIP investor buys property in approved developments. Further, the investor does not have the option of including fees and charges when computing the minimum investment requirement.
The investor also has the option of buying a private home and qualifying for citizenship. The minimum investment under this option is $400,000 for a private single-family dwelling that has been approved.
The home must be held for at least seven years and cannot be sold to another CIP applicant or converted into an apartment or condominium.
Public Good Investment Option
St. Kitts and Nevis has replaced the Alternative Investment Option (AIO) with the Public Good Investment Option (PGIO) with effect from January 2023.
The investor must contribute at least US$175,000 in an Approved Public Good Project and this sum will be paid to a government-designated Approved Public Good Investor.
|Number of Applicants||Fees under non-accelerated route||Fees under accelerated route|
|Main applicant and spouse||15000||32500|
|Each additional dependent below 18 years||10000||22500|
|Each additional dependent above 18 years||15000||32500|
St. Kitts and Nevis offers the accelerated and non-accelerated route under its economic citizenship program.
The government has reduced the fees until the end of June under the non-accelerated route for investors choosing the Real Estate Option, Private Home Sale Option, or the Public Good Investment Option.
The fee for adding a spouse under the non-accelerated route will be increased to US$20,000 from July.
Under the accelerated route, the fee for adding spouse or any other qualified dependent will be $37,500 from July.
CIPs offered by the Caribbean countries are very popular for reasons including very low processing times, multiple investment options, and very low investment requirements to qualify for a second passport.General Information: Contact us to receive more information about this article.
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