Basseterre, July 19, 2023 (GLOBE NEWSWIRE) — St Kitts and Nevis has yet again strengthened the administration of its Citizenship by Investment (CBI) Programme, announcing that all main applicants are to partake in a mandatory interview as part of the application process to its investment migration programme.

The twin–island Federation becomes one of the first Caribbean nations to introduce the soon–to–be industry standard. Instituted by regulations published on July 19, 2023, the new policy applies to all applications, including those already received but not yet approved by the Citizenship by Investment Unit (CIU). The new regulations also provide that dependants may be asked to be interviewed.

This new step in St Kitts and Nevis' CBI application process confirms that St Kitts and Nevis has now fully implemented the six principles agreed between the United States of America and governments of the five Caribbean nations with Citizenship by Investment Programmes in a roundtable meeting held on February 25, 2023. That meeting was convened to discuss and agree on common ways to deal with threats to international communities in the investment migration ecosystem.

The five Caribbean participating governments are Antigua & Barbuda, Dominica, Grenada, St Kitts and Nevis and Saint Lucia. Their Prime Ministers and other senior state officials met with a USA delegation led by Anna Morris, Deputy Assistant Secretary at the USA Department of Treasury.

The group collectively committed to six CBI principles proposed by the USA, several of which were already adopted by the five Caribbean participating governments of their own volition as part of their risk management framework to strengthen and safeguard the integrity of their CBI programmes.

The six principles agreed were:

1. Treatment of denials: Not to process applications from persons whose applications have been denied in another CBI jurisdiction, by proactively sharing information on denials.
2. Interviews: Conduct interviews with applicants, whether virtual or in–person.
3. Additional checks: Each jurisdiction will run checks on each application with the Financial Intelligence Unit of its respective country.
4. Audits: Audit the Programme annually or every two years in accordance with internationally accepted standards.
5. Retrieval of passports: Request law enforcement assistance to retrieve revoked/recalled passports.
6. Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians.

A delegation from St Kitts and Nevis, headed by the country's Prime Minister, Terrance Drew, also attended this year's annual European Union–Community of Latin American and Caribbean States Summit (EU–CELAC) Summit in Brussels.

During the Summit, St Kitts and Nevis, along with the other Caribbean CBI islands, met with the European Commission and agreed to establish a joint task group to engage the stakeholders and keep both regions abreast of ongoing developments and find a common ground to work from.

"We are very happy about how the meeting went in Brussels. There is definitely a spirit of cooperation between ourselves and the European Commission, and we will continue to make our efforts in mitigating international security risk very clear so all our international partners are confident of the integrity of our programme," noted Prime Minister Drew.

The third edition of EU–CELAC was held from July 17 to July 18, 2023, and aims to discuss key matters of interest that impact the Caribbean and the European Union and effective resolutions.

From July 19, 2023, main applicants, 16 years and older, for St Kitts and Nevis' CBI programme will be required to be interviewed "" virtually or in person "" as part of the application process.

Head of St Kitts and Nevis' Citizenship by Investment Unit, Michael Martin, commented that "St Kitts and Nevis remains committed to cooperating with our international stakeholders and takes the safety and integrity of our Citizenship by Investment Programme extremely seriously."

Due diligence and risk mitigation remain a very important aspect of how St Kitts and Nevis approaches its CBI programme.

The country has one of the best regulated programmes in the world. St Kitts and Nevis is the only country with a CBI Board of Governors responsible for providing general oversight of the operations their CBI Unit; developing and implementing policies and procedures; ensuring that application processing is completed within the timeframes advertised without compromising the integrity of the programme; and constantly monitoring the global investor immigration industry to ensure that the country's CBI Regulations align with international market forces.

The country is the also the only one with a CBI Technical Committee charged with ensuring all due diligence background checks are comprehensive in keeping with the country's multi–sectoral good governance transformation into a sustainable island–state.

Caribbean CBI nations remain at the pinnacle of due diligence excellence and St Kitts and Nevis continues as a trailblazer for many CBI nations across the world.

The due diligence for the St Kitts and Nevis CBI Programme is conducted by highly respected international due diligence agencies from the USA, Canada and the United Kingdom, and vetted by the CBI Unit, Financial Intelligence Unit and international policing authorities. These agencies work together to facilitate a multi–layer due diligence investigation online and on–the–ground.

St Kitts and Nevis boasts the oldest CBI programme in the Caribbean, established in 1984, and continues to be a firm favourite among international investors across the world.

GLOBENEWSWIRE (Distribution ID 8877083)

Basseterre, June 14, 2023 (GLOBE NEWSWIRE) — There are growing numbers of South African high–net–worth individuals (HNWIs) relocating from South Africa to other countries that offer dual citizenship.

South Africa is facing economic turmoil and uncertainty about the future of South African citizens. The economic factors influencing South African HNWIs include rising inflation rates that impact the cost of living and business operations in South Africa. The South African Reserve Bank Monetary Policy Committee recently voted to increase the prime lending rate to 11.75 per cent, which consequently led to the South African Rand becoming more volatile against the US Dollar. The South African rand weakened against the US dollar has persuaded international investors to not see South Africa as a desirable destination.

The load shedding energy crisis in South Africa impacts the national grid, and businesses of all sizes and households, contributing to economic instability and uncertainty for global investors in the future of South Africa's economy.

Another factor influencing South African HNWIs to migrate is the alarming rise of crime around the country. A recent quarterly State of Security (SoS) report conducted by the Automobile Association of South Africa (AA), indicated that “76 per cent of all respondents reported being a victim of a crime in South Africa.” The report indicated that “South Africans feel most unsafe in outdoor public spaces (45 per cent) and during their daily commute (35 per cent).” The findings stipulated 36 per cent of South African citizens “either feel only 'somewhat safe' (29 per cent), or 'not safe at all' (7 per cent) in their homes.”

South African HNWIs believe that they are vulnerable to these economic factors and continuously seek the safety and security of their accumulated wealth and the future of their families. And are actively pursuing business and personal opportunities around the world to ensure financial and long–term sound decisions.

St Kitts and Nevis is a twin federation located in the Eastern Caribbean region and is well governed, which creates economic and political stability in the country that provides additional security to South African HNWIs operating their businesses. According to CS Global Partner's World Citizenship Report 2023, the twin federation has initiated multiple efforts to improve infrastructure developments, leading to enhanced safety and security to encourage South African HNWIs to create stability for themselves and their families.

St Kitts and Nevis Citizenship by Investment Programme

St Kitts and Nevis Citizenship by Investment Programme is the oldest and most reputable programme in the investment migration industry.

The Head of St Kitts and Nevis Citizenship by Investment Unit, Michael Martin, and his team have recently introduced new and updated regulations to ensure that the programme retains the 'platinum standard', transparency and more importantly integrity.

The Programme offers eligible South African HNWIs a multitude of benefits. These include becoming part of the global business community and extending citizenship to family members.

South African HNWIs can expand their business ventures and wealth management, which include tax incentives for becoming a citizen that includes no personal income tax nor capital gains tax, these types of tax incentives provide potential diversification of lifestyle planning and wealth management. The ability of South African HNWIs to diversify their assets into multiple markets results in increased returns on investments.

The Sustainable Growth Fund is one of the most effective investment options and has a straightforward application process for eligible high–net–worth individuals to acquire dual citizenship.

This investment option is dedicated to developing socioeconomic initiatives that will uplift the local citizens and advance infrastructure developments in the nation.

Limited Time Offer

The Sustainable Growth Fund is an investment option that requires high–net–worth individuals to financially contribute towards the twin federations.

The Sustainable Growth Fund has a Limited Time Offer that is available from 1 January 2023 until 30 June 2023. The Limited Time Offer is a unique opportunity for HNWIS to acquire dual citizenship in sixty days for all accelerated and non–accelerated applications, without additional costs. There are reduced contribution amounts during the Limited Time Offer:

• US$125,000 per the main applicant;
• US$150,000 for the main applicant and spouse;
• US$170,000 for the main applicant, spouse and two dependants;
• US$10,000 for each additional dependant under 18 years of age; and
• US$25,000 for each additional dependant over 18 years of age.

There are due diligence and processing fees that are included in each application.

After the Limited Time Offer, from 1 July 2023, the processing time will become ninety days for non–accelerated applications, accelerated applications will have premium due diligence fees applied.

This is a prime time for South African HNWIs to seek investment opportunities through St Kitts and Nevis' Sustainable Growth Fund, and in return explore the economic freedom the twin federation has to offer.

GLOBENEWSWIRE (Distribution ID 8856613)

Basseterre, May 19, 2023 (GLOBE NEWSWIRE) — Citizenship by Investment (CBI) programmes are often evaluated based on security, protection of property and human rights as well as general stability. The rule of law is a principle that is typically used to test the strength of a country's system of laws. For countries like St Kitts and Nevis which offer CBI programmes, having favourable laws that are applied fairly is important because it enhances their capacity to attract more investors while upholding the integrity of their CBI initiatives.

Rule of law refers to the mechanisms, processes and institutional practices that support the equality of all persons before a country's laws. This implies that the creation and enforcement of laws must be legally regulated so that no one is above the law. In countries where the rule of law is strong, the application and adjudication of the law by governing officials are impartial. On the other hand, a weak rule of law is characterised by the consideration of class, economic or political status and relative power in the application of the law.

St Kitts and Nevis ranked 40 out of 139 countries in the 2021 Rule of Law Index. In the year 2022, the country ranked 39 out of 140 countries, indicating a slight increase. At a regional level, consisting of 32 countries in the Latin America and Caribbean region; St Kitts and Nevis was ranked 7th and 5th in 2021 and 2022 respectively. The rule of law index measures how the rule of law is perceived and experienced globally. Rankings in the index are based on the following pillars:

• Constraints on government powers;

• Absence of corruption;
• Open government;
• Fundamental rights;
• Order and security;
• Regulatory enforcement;

• Civil justice; and
• Criminal justice.

The first pillar measures the extent to which those who are in governing positions are bound by the law. Various checks such as the existence of a free and independent press, the limitation of government powers by the legislature or the judiciary as well as the independent auditing of government activities determine government powers. In 2022, St Kitts and Nevis had a global ranking of 45 out of 140 and a regional ranking of 7 out of 32 on the constraints of government powers.

With regards to the absence of corruption, St Kitts and Nevis scored a global ranking of 41 out of 140 and a regional ranking of 7 out of 32 in the year 2022. These ratings indicate that the prevalence of bribery, informal payments and embezzlement of public funds is significantly low in the judicial, military and law enforcement spheres.

The third pillar which is open government, measures the openness of a government. This is principally indicated by the extent to which a government shares information, encourages citizen participation in policy–making and is held accountable. Globally, St Kitts and Nevis was ranked 86 out of 140 whereas regionally, it was ranked 23 out of 32.

In St Kitts and Nevis, individuals are free from discrimination based on socio–economic status, gender, ethnicity, sexual orientation or religion. In addition to this, the right to life of a person and fundamental labour rights are effectively guaranteed. These observations are supported by St Kitts and Nevis's global ranking of 35 out of 140 and a regional ranking of 7 out of 32 on the fundamental rights factor.

When it comes to order and security, St Kitts and Nevis was ranked 49 out of 140 globally, and an impressive 4 out of 32 regionally. This indicator is particularly important for investors who want to settle in the country without having to worry much about their security. Rating highly in this pillar means that in St Kitts and Nevis, the prevalence of common crimes such as homicide, kidnapping, armed robbery and theft is low. It also means that people in the country are considerably protected from civil conflict and terrorism.

The enforcement of labour, environmental, consumer and public health regulations has an implication on a country's rule of law. In the regulatory enforcement pillar, St Kitts and Nevis had a global and regional rating of 34 out of 140 and 2 out of 32 respectively. The ratings indicate that in St Kitts and Nevis, government regulations are applied and enforced without improper influence.

St Kitts and Nevis ranked high in the civil and criminal justice pillars of the rule of law index. For the year 2022, the country ranked 24 out of 140 in civil justice, and 36 out of 140 in criminal justice. Regionally, St Kitts and Nevis occupied the 2nd position out of 32 in civil justice and 5th position out of 32 in criminal justice. People living in the country can access and afford civil as well as criminal justice compared to other countries in the world. This also means that these two systems are relatively free of discrimination, improper political influence, corruption and unreasonable delays among other hindrances.

The rule of law is particularly important for investors because it has a bearing on property rights. St Kitts and Nevis have the rule of law embedded in their CBI programmes. This gives investors a guarantee that their property rights are upheld at all times. The comparatively high rule of law index ranking, along with a strict due diligence process make St Kitts and Nevis a great choice for investments through CBI programmes.

Earlier this year, the St Kitts and Nevis government formally established the Citizenship by Investment Unit (CIU) Board of Governors. This body advises the Prime Minister on the management, operation, reviewing and monitoring of the development of CBI policies. A technical committee that is in charge of ensuring due diligence checks are completed on all CBI applications was also established by the government. St Kitts and Nevis, which has the world's longest–standing CBI programme in the world has been setting the standard in the CBI industry for decades. The dual island was ranked top in terms of its meticulous commitment to due diligence according to the 2022 CBI Index.

GLOBENEWSWIRE (Distribution ID 8842858)

Basseterre, March 01, 2023 (GLOBE NEWSWIRE) — The Ministry of Education in St Kitts and Nevis will receive a grant of US$90 000,00, from the Japanese Fund–in–Trust to equip them to develop an Education for Sustainable Development (ESD) framework for the country's education sector.

UNESCO identified the Cape Verde Islands and St Kitts and Nevis to receive technical assistance in the context of ESD for 2030. Both countries that are Small Island Developing States (SIDS) were recognised as probable success in efforts to integrate education for sustainable development.

In 2022, the Senior Assistant Secretary at the Ministry of Education, Dr. Tricia Esdaille, submitted the St Kitts and Nevis' ESD plan that included the 2023–2024 feasibility of delivery timeframe and anticipated outcomes in the country. UNESCO together with Japan–fund–in–trust considered to provide technical assistance to Lesser Developed Countries (LDCs) and SIDS to deploy the ESD project.

The ESD project will consist of policy development and related training policymakers; pilot school–level projects; educator training; support for youth–driven project–based learning; and local community–level activity including various stakeholders.

On 23 February 2023, St Kitts and Nevis Ambassador to UNESCO in Paris, H.E. David P. Doyle, met with the Japan Ambassador for UNESCO, His Excellency Atsuyuki Oike, and his Deputy Permanent Delegate and Minister, Ms. Hirayama Naoko, to extend their appreciation to the Deputy Prime Minister and Minister of Education, Youth, Social Development, Gender Affairs, Aging and Disabilities, Honourable Dr. Geoffrey Henley.

"The Japan–fund–in–trust is very welcome and will significantly scale up St Kitts and Nevis' institutional capacity in developing an ESD plan applicable across all sectors of the Federation's education and training framework." Ambassador Doyle said.

Ambassador Oike added that, "The Government of Japan is proud to be associated with supporting this ESD initiative in St Kitts and Nevis, which marks a tangible example of my government's ESD technical assistance programme targeting LDCs and SIDS."

The current total contributed funds for the ESD project that will bring the two UNESCO fund–granted initiatives into the country, has reached a total of US$136 000,00, with the aim to strengthen the national educational policy framework. UNESCOs education projects are active in parallel with each other across the country, under the guidance of the country's Ministry of Education and the St Kitts and Nevis National Commission for UNESCO for the 2022–2023 period.

"We are thankful for the ongoing support and technical assistance of UNESCO in bolstering our national efforts to advance ESD for 2023. With the additional aid of Japan–fund–in–trust, we are further heartened and empowered to carry out a programme of work that will result in the development of national ESD policy framework and action plan." Emphasised Dr. Tricia Esdaille.

Dr. Tricia Esdaille had also stated that the ESD targets need to remain clear and the outcomes for the country that communicate education as the Federation's forefront for sustainability.

With the St Kitts and Nevis education sector showing promise with the aid from the ESD, St Kitts and Nevis is primed for growth. The focus on development is an invitation to the sustainable business–minded investors to take advantage of St Kitts and Nevis Citizenship by Investment (CBI) Programme, with its recently updated regulations that set a new tone for the whole investment migration industry.

Not only is the St Kitts and Nevis CBI Programme the oldest, but it is also the most trusted in securing investor's second citizenship in the one of the most idyllic islands in the Caribbean.

On 1 April 2018, the Sustainable Growth Fund Option (SGF) was introduced to advance St Kitts and Nevis' economic development. The SGF is a transparent process, whereby investors have full visibility into where the funds are being used in the economic development of the Federation.

The SGF has an exclusive Limited Time Offer (LTO) for qualifying applicants to have the opportunity to obtain their citizenship for themselves and qualifying dependants, under the accelerated application process.

The LTO is from 1 January 2023 to 30 June 2023, the Government and Citizenship by Investment Unit (CIU) have offered qualifying applicants to contribute a reduced amount of US$125 000,00 for LTO and non–accelerated applicants.

The processing time of the applicant for the 60 days starts as soon as the CIU formally acknowledges the qualifying investor's application; the applicant will be mandated to undergo background and due diligence checks, to ensure that they meet all the requirements to obtain citizenship, which includes documentation that will be reviewed and approved by the CIU through an authorised agent; once the qualifying applicant receives an approval letter from the Government, the applicant may then submit their contribution fees, and as soon as this is completed they will receive their Citizenship certificate; and may then apply for a St Kitts and Nevis passport.

The contribution under the SGF LTO period are as follows:

• US$125 000,00 per main applicant.
• US$150 000,00 per main applicant and spouse included.

• US$170 000,00 per main applicant and up to three dependants, whether or not a spouse is included and irrespective of age of dependants.
• US$25 000,00 for each dependant 18 years and over.
• US$10 000,00 for each dependant under 18 years of age.
• LTO and non–accelerated applicants are required to submit a due diligence fee of US7 500,00, and US$4 000,00 for each depedant 16 years and over.
• There is a separate process after the issuing of the citizenship certificate, for the applicant to apply for their St Kitts and Nevis passport.

As of 1 July 2023, the processing time will revert to the legislated 90–day processing, after official acknowledgement from the CIU, and the minimum contribution will be US$150 000,00, which is an increase of US$25 000,00, per main applicant. The Government fees will also increase, depending on the number of dependants. If the applicant wishes to apply under the accelerated route, the applicant will be required to pay a premium due diligence fee.

GLOBENEWSWIRE (Distribution ID 8779365)

Basseterre, Feb. 22, 2023 (GLOBE NEWSWIRE) — The luxurious island of St Kitts and Nevis is offering investors the chance to gain coveted second citizenship in the nation through its citizenship by investment programme. For a limited time only, investors can contribute a reduced amount of US$125 000.00 to the Sustainable Growth Fund "" the offer ends 30 June 2023.

St Kitts and Nevis has been on a drive to attract discerning investors and recently announced substantial and industry–leading changes to its citizenship by investment programme. The changes will see high levels of integrity being injected into the programme thanks to these administrative improvements. The citizenship by investment programme has also been structured to allow for greater transparency and accountability, and investment options have been tailored to align with market realities while preserving the platinum brand.

From 1 January 2023 until 30 June 2023, those looking to tap into St Kitts and Nevis' enriching base can make a donation of just US$125 000.00 into the country's Sustainable Growth Fund (SGF) and gain second citizenship in just 60 days. From 1 July 2023, the contribution will increase to US$150 000.00 per main applicant.

Why should you invest in St Kitts and Nevis

Being a dual citizen of St Kitts and Nevis offers a plethora of benefits "" from family reunification and global mobility to enhanced security and increased economic opportunities, there are so many reasons entrepreneurs and families should seriously consider the dual island nation.

Situated between Anguilla and Montserrat, St Kitts and Nevis features pristine beaches, wondrous volcanoes, and beguiling rainforests. St Kitts and Nevis has a population of over 52,000, with an economy reliant on tourism, export–oriented manufacturing, and offshore banking.

St Kitts and Nevis Citizenship by Investment Programme is the world's longest–running CBI programme (launched in 1984) and one of the most trusted, being the first of its kind.

Since the island has award–winning and internationally acclaimed education institutions like veterinary and medical universities, it attracts global–minded professionals. People from all over the world come to St Kitts and Nevis, over a million a year to be exact, because of its booming tourism sector. Many enjoy it so much that they end up staying. Now, with more work–from–home policies than ever, many see the Caribbean as the perfect destination to get away from the bustle of big cities while continuing to be connected when business calls.

In an increasingly globalised world, unrestricted mobility is a vital tool that can help level your business to an international market. A 2022 report released by the Financial Times' Professional Wealth Management (PWM) magazine recognised St Kitts and Nevis"for having the most extensive global mobility offering in the"Caribbean out of all Caribbean CBI nations.

St Kitts and Nevis remains in high demand as a renowned port for its exceptional tourism, complemented by an unmatched experience. The nation achieved the honorary marquee tourist destination status and welcomed one million cruise passengers for two consecutive years prior to the pandemic. This means that no matter where you invest in the country, you can get a bang for your buck as almost every sector on the islands is touched by people coming and going.

Citizenship by investment programmes offer the opportunity for reputable individuals to legally obtain new citizenship in return for an investment in the economy of the host country. The main goal of these programmes is to find a win–win solution for both investors and the countries offering citizenship by investment programme.

This process aims to be relatively smooth provided that an investor delivers all the necessary documentation, passes all necessary due diligence checks, and makes the qualifying investment. The investment made by that individual is often put towards improving the quality of life for those inhabiting the host country.

The process to obtain citizenship of St Kitts and Nevis takes approximately 90 days from submission to approval in principle on the normal route. However, this can be fast–tracked to 60 days or less under the nation's Accelerated CBI Application for an additional fee.

There are no obligatory travel or residency requirements for this programme and no interview or language requirements.

Investment options

St Kitts and Nevis's citizenship by investment programme has four investment options:

The Sustainable Growth Fund

Limited Time Offer:
From 1 January to 30 June 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$ 125,000 to the Fund and receive approval in principle within 60 days of submission of the application.

From 1 July 2023 onwards, applicants investing through the Sustainable Growth Fund are required to make a minimum investment of US$ 150,000 and can expect approval in principle within 90 days of submission of the application. The funds raised by the SGF go towards supporting sustainable growth initiatives in the country.

Real Estate

This route involves investing in government–approved real estate, with independent investors needing to make a contribution of at least US$ 200,000 and hold the property for a minimum of seven years.

Private Homes

The Private Home Sale Investment Option will be retained as a permanent investment option under the CBI Programme, where the minimum investment per application is US$ 400,000 in a private single–family dwelling house designated as an Approved Private Home.

Public Benefit Option

Public Benefit Option requires a minimum investment per application of US$175,000 in an Approved Public Benefit Investment, payable to an Approved Public Benefit Investor.

GLOBENEWSWIRE (Distribution ID 8754471)

Basseterre, Feb. 16, 2023 (GLOBE NEWSWIRE) — The luxurious island of St Kitts and Nevis is offering investors the chance to gain coveted second citizenship in the nation through its citizenship by investment programme. For a limited time only, investors can contribute a reduced amount of US$125 000,000 to the Sustainable Growth Fund "" the offer ends 30 June 2023.

St Kitts and Nevis has been on a drive to attract discerning investors and recently announced substantial and industry–leading changes to its citizenship by investment programme. The changes will see high levels of integrity being injected into the programme thanks to these administrative improvements. The citizenship by investment programme has also been structured to allow for greater transparency and accountability, and investment options have been tailored to align with market realities while preserving the platinum brand.

From 1 January 2023 until 30 June 2023, those looking to tap into St Kitts and Nevis' enriching base can make a donation of just US$125 000.00 into the country's Sustainable Growth Fund (SGF) and gain second citizenship in just 60 days. From 1 July 2023, the contribution will increase to US$150 000,00 per main applicant.

Why should you invest in St Kitts and Nevis

Being a dual citizen of St Kitts and Nevis offers a plethora of benefits "" from family reunification and global mobility to enhanced security and increased economic opportunities, there are so many reasons entrepreneurs and families should seriously consider the dual island nation.

Situated between Anguilla and Montserrat, St Kitts and Nevis features pristine beaches, wondrous volcanoes, and beguiling rainforests. St Kitts and Nevis has a population of over 52,000, with an economy reliant on tourism, export–oriented manufacturing, and offshore banking.

St Kitts and Nevis Citizenship by Investment Programme is the world's longest–running CBI programme (launched in 1984) and one of the most trusted, being the first of its kind.

Since the island has award–winning and internationally acclaimed education institutions like veterinary and medical universities, it attracts global–minded professionals. People from all over the world come to St Kitts and Nevis, over a million a year to be exact, because of its booming tourism sector. Many enjoy it so much that they end up staying. Now, with more work–from–home policies than ever, many see the Caribbean as the perfect destination to get away from the bustle of big cities while continuing to be connected when business calls.

In an increasingly globalised world, unrestricted mobility is a vital tool that can help level your business to an international market. A 2022 report released by the Financial Times' Professional Wealth Management (PWM) magazine recognised St Kitts and Nevis"for having the most extensive global mobility offering in the"Caribbean out of all Caribbean CBI nations.

St Kitts and Nevis remains in high demand as a renowned port for its exceptional tourism, complemented by an unmatched experience. The nation achieved the honorary marquee tourist destination status and welcomed one million cruise passengers for two consecutive years prior to the pandemic. This means that no matter where you invest in the country, you can get a bang for your buck as almost every sector on the islands is touched by people coming and going.

Citizenship by investment programmes offer the opportunity for reputable individuals to legally obtain new citizenship in return for an investment in the economy of the host country. The main goal of these programmes is to find a win–win solution for both investors and the countries offering citizenship by investment programme.

This process aims to be relatively smooth provided that an investor delivers all the necessary documentation, passes all necessary due diligence checks, and makes the qualifying investment. The investment made by that individual is often put towards improving the quality of life for those inhabiting the host country.

The process to obtain citizenship of St Kitts and Nevis takes approximately 90 days from submission to approval in principle on the normal route. However, this can be fast–tracked to 60 days or less under the nation's Accelerated CBI Application for an additional fee.

There are no obligatory travel or residency requirements for this programme and no interview or language requirements.

Investment options

St Kitts and Nevis's citizenship by investment programme has four investment options:

The Sustainable Growth Fund

Limited Time Offer:
From 1 January to 30 June 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$ 125,000 to the Fund and receive approval in principle within 60 days of submission of the application.

From 1 July 2023 onwards, applicants investing through the Sustainable Growth Fund are required to make a minimum investment of US$ 150,000 and can expect approval in principle within 90 days of submission of the application. The funds raised by the SGF go towards supporting sustainable growth initiatives in the country.

Real Estate

This route involves investing in government–approved real estate, with independent investors needing to make a contribution of at least US$ 200,000 and hold the property for a minimum of seven years.

Private Homes

The Private Home Sale Investment Option will be retained as a permanent investment option under the CBI Programme, where the minimum investment per application is US$ 400,000 in a private single–family dwelling house designated as an Approved Private Home.

Public Benefit Option

Public Benefit Option requires a minimum investment per application of US$175,000 in an Approved Public Benefit Investment, payable to an Approved Public Benefit Investor.

GLOBENEWSWIRE (Distribution ID 8750933)

Basseterre, Feb. 16, 2023 (GLOBE NEWSWIRE) — The latest International Monetary Fund (IMF) report that was released in January 2023, indicates a projected growth of 4.5 per cent for the nation of St Kitts and Nevis this year. This growth is supported by a steady recovery from the tourism sector and various service sectors.

The report also found that the country's Citizenship by Investment Programme also played a role in supporting the Twin Federation's growth. The current St Kitts–Nevis Labour Administration Party under the leadership of Prime Minister, Dr Terrance Drew, has made very well–considered changes to the country's investment migration programme in attempts to transform the economy into a Sustainable Island State, as highlighted in the 2023 Budget Address.

The expected growth in St Kitts and Nevis' real GDP is 5.9 per cent for 2023. The Prime Minister highlighted that the CBI Programme is also designed to generate significant revenue to create a diverse economy that will promote entrepreneurship, profitable job creation and increase homeownership.

Prime Minister Drew, said that his administration would "use the CBI revenues to fuel our plans to implement a diversified economy."

The Prime Minister emphasised the significance and benefits of St. Kitts and Nevis' CBI Programme and the importance of due diligence in ensuring that the country's programme remains reputable globally. He added "Our citizenship is precious; therefore, the evolved CBI Programme will invite bold and creative top–notch investors to our shores who will develop innovative industries in St Kitts and Nevis, the construction of 18 real estate developments pursuant to our government's priority infrastructure list, and in all things, bring substantial benefit to the people of Saint Christopher and Nevis. This evolution is perfect for our investors to explore real estate development opportunities through their CBI Programme."

St Kitts and Nevis government is looking to develop a Sovereign Wealth Fund should their financial projections materialise. This will be the world's first Sovereign Wealth Fund through the CBI Programme. The Fund will be used as a long–term investment vehicle in international markets and industries and will be managed by high–level authorities and a thorough policy to ensure the funds are directed intentionally towards disaster management. Investors will have the opportunity to improve the country's healthcare system, and social services, develop public infrastructure including energy and water security for all the Kittitian and Nevisian population, as well as digital transformation.

St. Kitts and Nevis is a two–island small yet rich economy with tourism being the island's largest contributor to their GDP, followed by the CBI Programme, agriculture, medicinal cannabis industry, construction and manufacturing sectors.

St Kitts and Nevis has been a pioneer of the global investment immigration industry for over 30 years and it continues to use revenue generated from its CBI Programme to prosper locals and international investors. Prospective entrepreneurs can become a citizen of St Kitts and Nevis in four ways:

Donating towards the country's Sustainable Growth Fund (SGF), which was established to drive economic and social development in the country. In addition, the SGF may be used to provide financial support towards education and healthcare facilities, as well as funding for constructing infrastructure, developing local tourism, preservation of local culture and heritage, and dedicated sustainable growth initiatives in the country. There is a Limited Time Offer (LTO) from 1 January to 30 June 2023. Investors applying under the LTO will benefit from a reduced minimum donation amount starting at US$125,000 for a single applicant and an accelerated CBI application with a shorter processing time of 60 days from the acknowledgement of the application by the Citizenship by Investment Unit to approval in principle, with no added costs. From 1 July 2023 onwards, there will be adjustments to the minimum donation amounts with the minimum donation for a single applicant starting at US$150,000 and the processing time will revert to the standard 90 days unless the applicant elects the accelerated CBI application route.

Investing through the pre–approved real estate from January 2023. The minimum investment required by law is US$200,000 in an Approved Development which is resalable after a period of seven years. Only Approved Developments qualify under this investment option. All real estate properties previously designated as "Approved Projects" are required to apply to be re–designated as an Approved Development on or before 10 March 2023, failing which they will no longer qualify under the real estate investment option. Additional fees apply.

Applicants may select the Private Home Sale Investment Option; the minimum investment amount is US$400,000.00 in a private dwelling home or a single–family condominium designated as an Approved Private Home. More than one main applicant may each contribute a minimum of US$400 000,00 towards the same Approved Private Home. An Approved Private Home is resalable after a period of five years, Properties previously designated as Approved Private Homes are required to re–apply to be re–designated on or before 10 March 2023, failing which they will lose such designation. This option is not applicable to apartments or multi–family condominiums. Additional fees apply.

The Public Benefit Option has replaced the Alternative Investment Option (AIO). The minimum investment amount per applicant is US$175,000.00 in an Approved Public Benefit Project, payable to an Approved Public Benefactor. Only Approved Benefit Projects qualify under this investment option. All real estate developments previously designated as AlO developments are required to apply to be designated as an Approved Public Benefit Project on or before 10 March 2023, failing which they will no longer qualify under this investment option. Additional fees apply.

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Basseterre, Jan. 23, 2023 (GLOBE NEWSWIRE) — The Prime Minister of St Kitts and Nevis, Dr. Terrance Drew, along with six other cabinet members from his administration participated in their first press conference of the year on 18 January 2023.

The press conference is one of the methods that Prime Minister Drew's administration will use to update citizens and residents on matters of national importance such as the 2022 Budget and the upcoming plans and budget for this year. The St Kitts and Nevis government has reiterated several times how it wants to lead with transparency and integrity "" ensuring that the twin–island Federation is kept abreast of the administration's decision–making process and accomplishments during its tenure.

In his opening address, Prime Minister Drew, noted that the government of St Kitts and Nevis continues to work around the clock to fufill the pledges made during the 2022 election campaign.

"These pledges were based on seven foundational pillars including Food Security, Energy Transition, Economic Diversification, Sustainable Industries, Creative Economy. COVID–19 Recovery and Social Protection.

"We made a pledge to govern with transparency, accountability and integrity and we intend to continue in that vein. We want to improve the quality of life and health of our people as these are the founding principles and remain the bedrock of our administration."

The Prime Minister continued and said, "We are committed to serve with the sole purpose that every policy, every plan and every project is undertaken for the betterment of all, our mission is to transform the lives of people by advancing our economy in a way that will provide greater social and economic opportunities."

As the Minister of Health and Social Security, Prime Minister Drew unveiled three major developments to strengthen the quality of healthcare in St Kitts and Nevis. These are Universal Health Care, Corporatization of the Joseph N. France General Hospital and strengthening the relations with third–party organizations.

Minister Drew asserted that Universal Health Care remains a priority for the government of St Kitts and Nevis and added that the government is geared to start their Universal Health Care, which will go a long way in opening up access to quality healthcare for all Kittians and Nevisians.

The World Health Organisation has described Universal health coverage as a means for all people to have access to the full range of quality health services they need, when and where they need them, without financial hardship.

The second major development, the corporatization of the Joseph N. France General Hospital "" a premier health institution in the country, is aimed to increase the hospital's efficiency and allow for the proper management of the hospital's affairs.

The Prime Minister noted that while Joseph N France General Hospital has its strengths and weaknesses, there is always room for improvement, and it is for this reason that the government has been working towards developing its tertiary and secondary healthcare.

He thanked healthcare workers who continue to work tirelessly to serve those in need and hailed the dedication and commitment of medical professionals who served day and night during the unprecedented times of the COVID–19 pandemic "" an honorarium has been dedicated to them.

Talking about the challenges these workers face while performing their duties, including oppression and verbal abuse, the Prime Minister suggested hosting an open forum to communicate these issues.

The government of St Kitts and Nevis is also looking to recruit new doctors, nurses, technicians, therapists and technologists. Along with this, a principal nursing officer will be appointed, a position that has been vacant for the last seven years.

"Two lines of action are now ongoing; stabilization and transformation," stated Prime Minister Drew as he expressed the requirements of new staff, new systems, a new culture of empathy and adequate resources.

The country's eye clinic will receive new state–of–the–art equipment to the value of EC$700,000.00.

On the matter of strengthening relationships with third party stakeholders, the Prime Minister added that St Kitts and Nevis is looking to revitalize relationships with the likes of CARPHA (the Caribbean Public Health Agency), PAHO (Pan American Health Organization), and several NGOs such as PALS (Pediatric Assistance League of St Kitts).

A deep dive into the country's evolving Citizenship by Investment Programme

The Prime Minister hailed the efficient leadership of the new Head of the Citizenship by Investment Unit of St Kitts and Nevis, Michael Martin. The Prime Minister asked the Attorney General and Minister of Justice and Legal Affairs, the Honourable Garth Wilkin to update on changes recently made to the Citizenship by Investment Programme's legislation on 23 of December, 2022 which changes were made to remove any loopholes used by developers.

Attorney General Garth Wilkin said, "What developers are required to do now, is that they have to place money received from the sale of real estate units into an escrow account and the administration of the citizenship by investment programme will monitor the progress of the projects such that a developer does not sell 20 units for example and not build anything.

New regulations allow developers to prove that developments are indeed on track, and only then will the money be released from the escrow account. This release of funds will be done in phases as certain phases of the building are completed. The new regulations have also been set up to monitor the distribution of units processed.

Minister Wilkin added, "If you were a developer and you believe that you can sell 1000 units or 1000 buildings in your real estate project, you will not be given access to sell those 1000 units at the beginning of your project like it was done in the past, what you will do is you will be given a certain amount of units, for example, 50, you will be able to put those on the market and until you complete a certain phase of your selling, you will not get the next 50, so there will be a staggered approach to the actual issuance of the units that you can sell on the market."

He said that all of this was done to prevent what previously occurred in the past where real estate developers were selling off plans and building one part of the project and not completing it in its entirety resulting in what he termed "white elephants".

The Government is focused on ensuring that the citizenship by investment offering provides value to both the investors and the citizens of the country.

The country's Citizenship by Investment Programme has been undergoing an evolution, setting a bold and new tone for the industry as a whole. St Kitts and Nevis is once again leading the way for the investment immigration industry "" adding a new layer of integrity to truly accelerate the country's economic diversification, and empower and prosper local citizens while creating an enriching base for intelligent investors.

GLOBENEWSWIRE (Distribution ID 8734548)