In a significant move aimed at enhancing competitiveness and attracting more investors, the government of Saint Kitts and Nevis has announced a reduction in the minimum investment cost for its Citizenship by Investment Program (CIP) to $250,000. This decision was officially announced through a memorandum issued by the Citizenship by Investment Unit, stating that the new adjustments will take effect from the beginning of July 2024.
Mr. Michael Martin, CEO of the Citizenship by Investment Unit in Saint Kitts and Nevis, explained that the changes include lowering the minimum investment fees for the Sustainable Island State Contribution (SISC) option, aligning with adjustments to citizenship programs in other Caribbean nations. This is the second notable update to the program’s pricing within a year, following changes made in July 2023 in response to demands from the European Union.
Revised Investment Amounts for the Citizenship by Investment Program:
Sustainable Island State Contribution (SISC):
- $250,000 for a single applicant or a family of four (previously $350,000).
- $25,000 for each additional dependent under 18 years old.
- $50,000 for each additional dependent aged 18 years or older.
Real Estate and Public Benefit Options: Investment limits for the developer real estate option, private real estate investment, and public benefit remain unchanged as follows:
- Developer Real Estate Investment: $400,000.
- Private Real Estate Investment:
- $400,000 for a residential unit or share in an approved real estate project.
- $800,000 for a single-family private residence.
- $250,000 for the Public Benefit Option.
All real estate investments can be resold after seven years.
Fees for Citizenship Application Post-Approval:
- $25,000 for the main applicant (exempt for the Public Benefit Option).
- $15,000 for the spouse.
- $10,000 for each dependent under 18 years old.
- $15,000 for each dependent aged 18 years or older.
The due diligence fees, application processing fees, and registration certificate fees remain unchanged.
Due Diligence Fees:
- $10,000 for the main applicant.
- $7,500 for the spouse and each dependent aged 16 years or older.
Application Processing Fee:
- $250 per applicant.
Registration Certificate Fee:
- $50 per applicant.
We, at Respect Services, strive to always keep you up to date with the last related developments and news. We always provide you with valuable information and updated visions continuously to help you in obtaining citizenship or residency by investment.
If you would like to learn more about the Saint Kitts and Nevis program and how it aligns with your needs, feel free to schedule a free consultation with one of our investment advisors.
