St. Kitts & Nevis reduces the amount of contribution for investors with families under the Citizenship by Investment Program

  • Home
  • Blog
  • Saint Kitts and Nevis
  • St. Kitts & Nevis reduces the amount of contribution for investors with families under the Citizenship by Investment Program
Share to friends:
23
Reading time: 5 minutes
Don't have time to read?
Send to Email
Kristina Kurkuliak 13.07.2020

The exclusive offer with a competitive rate can be taken advantage of through the remainder of 2020 only. The Government of Saint Kitts and Nevis has significantly reduced amounts of contributions required to secure the country’s economic citizenship. The respective decision was taken due to the coronavirus pandemic.

Special conditions are stipulated for families of four that apply for citizenship of the Federation of St Kitts and Nevis from July 03, 2020, onwards. 

The Government’s decision is associated with a decrease of economic investments in the country due to global developments. There has not been any single coronavirus case registered on the islands for 50 days now. So local public health authorities have declared the country to be completely free of COVID-19.

Great offer – get 4passports of Saint Kitts & Nevis for the price of one

The most affordable option to obtain Caribbean citizenship by investment is to make a contribution into the Sustainable Growth Fund (SGF) in the amount of US$ 150,000 per applicant. Pursuant to the general rule, a family of 4 would have to invest US $195,000 to become economic citizens of St. Kitts. 

Under the new conditions, the amount of the contribution for a family application has been reduced by almost a quarter – now it is US $150,000. The same amount of contribution is stipulated for a single applicant. 

The Government plans to use the increased proceeds they expect from the new cost-effective immigration offer being beneficial for investors to the social welfare of citizens who lost their income or work due to the lockdown.

St. Kitts & Nevis: Citizenship by Investment Program (CIP)

Even at the height of the pandemic, only 15 coronavirus cases were confirmed in St. Kitts and Nevis. All patients had mild forms of the disease and did not require hospital admission. St. Kitts and Nevis has gained international recognition for excellent response to the emergency situation. 

Following the cancellation of quarantine restrictions, many families will wish to get back to their previous choices and passions, as well as to move freely around the world. Citizens of Saint Kitts and Nevis enjoy a visa-free access to156 countries of the world. Therefore, it is a perfect time now to apply for and obtain economic citizenship for your family. 

According to the latest 2020 Henley Passport Index,Q2, published in April 2020, the passport of St. Kitts & Nevis ranks first among passports of all Caribbean countries with similar investment programs. Furthermore, their CIP has a reputation for highly efficient handling of applications in accordance with international standards. As a rule, an application is processed within 3 to 5 months. 

Apart from making the donation into the Fund, there is another way to obtain citizenship by investment available for investors – they can purchase a real estate unit for at least US$ 200,000. Such units can be resold after 7 years. However, if the amount of investment into real estate is US$ 400,000+, such property can be resold after 5 year.

Krisitna

Get a free consultation

Send request
Rating: 5 / 5 Votes:1

© "Migronis", within full or partial copying of the material is required reference to the source.

Share to friends:

Leave a Reply

avatar
  Subscribe  
Notify of

Not ready to proceed with the application process yet?

Subscribe to our must-read newsletter. The articles we send will help you make the right choice. Once a week we send expert information without empty talk and with no advertisements. Articles are prepared by leading tax experts and lawyers.

Migronis uses cookies to improve your experience. In case of disagreement, leave the site.
Accept