$25,000 off a Saint Kitts and Nevis passport and other changes to the citizenship program in 2023
Saint Kitts and Nevis Citizenship by Investment Unit has notified licensed agents of the investment program changes.
Saint Kitts and Nevis has also established a Citizenship by Investment Board of Governors. It will be responsible for the program’s development and advise the Prime Minister.
Head of the Austrian office
Saint Kitts and Nevis Citizenship Program is a pioneer among investment programs, as it has been operating since 1984. More than 20,000 applicants have since received their passports.
The Financial Times PWM has named Saint Kitts and Nevis citizenship program the best in the world as of 2021. The high ranking of the program “reflects the ability of Saint Kitts and Nevis to adapt to modern needs and attract investors”.
Saint Kitts and Nevis follows its policy and continues to improve the program. The planned changes have been known since the beginning of December 2022: they were announced by Prime Minister Terrance Drew during his official Dubai visit. Now the Citizenship by Investment Unit officially announced exactly how investment conditions will change from January 2023 onwards.
Non-refundable Sustainable Growth Fund contribution
State fund investment is the most popular option for investors who receive a Saint Kitts and Nevis passport.
To January 31, 2024, there will be a special offer for investors — the contribution to the Sustainable Growth Fund will be reduced by $25,000.
Sustainable Growth Fund investment option
If the investor adds more than four people to the application, additional payments will apply:
$10,000 — for each applicant under 18;
$25,000 — for each applicant over 18.
At the same time, such applications will be processed under the Accelerated Application Process: within 60 days and without an extra urgency fee. From February 1, 2024, applications will be processed in a regular way — within 90 days from the submission date.
Real estate investment option
To obtain Saint Kitts and Nevis citizenship for purchasing real estate, program participants are eligible to purchase government-approved properties or private residential properties.
$200,000 will be the minimum investment in real estate projects approved by the government. The return on investment period will be 5 years — then investors will be allowed to sell the property.
$400,000 will be the minimum investment in private residential homes. Such facilities will also be approved by the Government of Saint Kitts and Nevis. Buying a house share is also permitted under this option, but on condition that each applicant invests at least $400,000.
Private residential buildings may lose their Approved Private Homes status. To maintain the approved investment status, owners must submit an application to the Board of Governors of the Citizenship by Investment Unit within a 45-day window after the new rules come into force.
Program participants who invest in a private home can not:
resell the property during the first 5 years of ownership;
resell the house to any other citizenship program applicant;
convert the house into an apartment or condo.
Examples of real estate for investors
St. Kitts & Nevis, Basseterre
14 m² — 37 m²
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New investment option: the Public Good Investment Option
The Public Good Investment Option, or PGIO, will replace the Alternative Investment Option. The minimum investment for this option is retained — $175,000.
Participants in the program will continue to invest in social and infrastructure projects approved by the Government of Saint Kitts and Nevis.
Owners of Alternative Investment Option projects will be able to retain the approved project status if they submit an application to the Board of Governors of the Citizenship by Investment Unit within a 45-day window after the new rules come into force.
Additional expenses for real estate options and PGIO
In addition to the main investments, program participants pay Due Diligence and Application Processing fees. Expenses for the real estate option and PGIO social projects are the same.
Along with the additional application expenses, Saint Kitts and Nevis property buyers pay taxes and agency fees.
Immigrant Invest is a licensed agent for government programs in the Caribbean. If you want to buy a property and get second citizenship in Saint Kitts and Nevis, consult our investment program experts.
