The authorities of St Kitts and Nevis have announced an extension of the limited-time discount offer. Foreign nationals wishing to acquire citizenship of the country by donating to the Sustainable Growth Fund (SGF) can do so at a discount until January 31, 2024. The reason for the extension is unprecedentedly high demand for passports of St Kitts and Nevis on the part of citizens of other countries.
High demand for St Kitts citizenship
In December 2022, the St Kitts Citizenship by Investment Unit (CIU) announced some changes to the local citizenship-by-investment program. One of the changes was the introduction of a limited-time discount offer. The offer was initially meant to be available for six months only between January 1 and June 30, 2023.
The chance proved highly popular with foreign investors because in addition to the discount, they were able to use the Accelerated Application Processing (AAP) opportunity at no extra charge. (The AAP allows acquiring citizenship of St Kitts and Nevis within 60 days.) Unfortunately, the timeframe proved too short for a large number of foreign investors who wished to acquire citizenship of the country at a discount but could not do so. Some of them did not have enough time to collect all the required application documents while in some other cases, the bank’s Compliance Department took too much time to conduct the necessary due diligence procedures.
St Kitts and Nevis is not the only jurisdiction that offers discounts on economic citizenship. It has competitors in the investment immigration market who also try to attract clients by offering discounts. Special offers come and go on a regular basis and you should request professional support in acquiring foreign citizenship if you do not want to miss an attractive offer. International Wealth experts monitor the situation in the market closely. Please supply your email address in the form below and we will get back to you shortly with all the recent discount offers!
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Special offer extension
The authorities of St Kitts and Nevis have decided to extend the discount offer and now a larger number of foreign nationals can make use of the special opportunity. On June 29, 2023, Michael Martin, head of the CIU made the following announcement:
“The response to the special offer has been fantastic indeed: a large number of foreign investors want to acquire economic citizenship of St Kitts and Nevis at a discount. Thus, we have decided to extend the limited-time offer for seven more months. The discount opportunity is now available until January 31, 2024. We are pleased to see that the interest in the oldest and the best citizenship-by-investment program continues to grow.”
The details of the special offer
A donation to the SGF remains the simplest and the fastest route to economic citizenship of St Kitts and Nevis. Until January 31, 2024, the foreign applicant can donate not more than US$ 125,000 to the Fund and this will make him or her qualified for St Kitts citizenship. The application will be processed within 60 days only.
The amounts of the donations to the SGF are specified in the table below:
|Number of applicants||Donation amount, US$|
|Main applicant and spouse||150,000|
|Main applicant and up to three dependents||170,000|
|Every extra dependent below 18||10,000|
|Every extra dependent above 18||25,000|
Regular and discounted prices for citizenship of St Kitts
After the special offer expires (beginning February 1, 2024), citizenship of St Kitts and Nevis will sell at regular prices again.
When the special offer expires, the applicants will also have to pay additional fees for Accelerated Application Processing. As the name suggests, applications are processed at a faster pace and the foreign applicant for St Kitts citizenship can obtain one of the following results within 60 days:
- Application provisionally approved;
- Application rejected;
- Approval postponed (additional information/ additional documents are required).
Those who decline the chance to use the AAP opportunity will have to wait for the answer for at least 90 days. Outside the special discount offer, the AAP requires the following additional payments:
|Main applicant’s spouse||32,500|
|Underage dependent child||22,500|
|Child of age/ any dependent above 18||37,500|
The CIU informs the applicant about the stages of the application processing via the immigration agent whose services the applicant uses. Some changes to the procedures of granting economic citizenship have been recently introduced. Foreigners applying for Caribbean citizenship by investment now have to have a personal interview with a Government official. The interview can be held in St Kitts or at any diplomatic mission of St Kitts and Nevis (such as an embassy or consulate) in a foreign country.
A mutually beneficial deal
Acquiring economic citizenship of St Kitts and Nevis is a fantastic opportunity indeed. The country has the longest-standing citizenship-by-investment program that has remained functional since the 1980s. The holders of St Kitts and Nevis passports get visa-free access to Great Britain, Schengen zone countries, and dozens of other popular destinations.
If you relocate to the country and spend at least six months within a calendar year there, you can become a resident of St Kitts and Nevis for tax purposes. This is an attractive opportunity because the income made abroad is not taxed in St Kitts and Nevis. Besides, the country does not charge many other taxes such as the capital gains tax, gift tax, wealth tax, and so on. Corporate taxes are extremely low in St Kitts and Nevis too.
You can also use your Caribbean passport when interacting with bank managers all over the world if you want to disguise your country of origin for some reason. In addition, citizenship of St Kitts can be a reliable ‘plan B’ in case the situation in your home country changes and you want to relocate to another place.
You can think of acquiring Caribbean citizenship as buying an insurance policy. The world has become totally unpredictable over the recent years with all these wars and pandemics. Having a place to escape to has turned into a pressing need. Dual citizenship cannot be thought of as a whim anymore.
The host country certainly reaps profits too. The capital that the SGF generates is used to finance the economic revival of St Kitts and Nevis. It helps solve the following tasks in particular:
- Support educational institutions;
- Finance medical organizations;
- Improve the transportation network;
- Stimulate tourism development;
- Preserve the cultural heritage;
- Invest in ecologically friendly technologies.
Besides St Kitts and Nevis, several other small insular states administer citizenship-by-investment programs, that is, they ‘sell’ their passports to foreigners. The money that the programs generate helps the countries withstand various global disasters. It also allows developing their economics, paying national debts, and solving a great number of other tasks.
St Kitts and Nevis continues to strengthen its reputation as one of the best countries offering economic citizenship opportunities. The local program boasts a reliable legal framework and multi-level due diligence checks.
The program has been available for nearly 40 years now and its popularity is growing year after year. And the Caribbean country is not going to give up its position in the global investment immigration market.
Professional assistance in building a collection of passports
As there are several countries that offer citizenship-by-investment opportunities, you can actually obtain several foreign passports. This is exactly what some wealthy investors do. When discounts become available (such as the special offer that the authorities of St Kitts and Nevis have just extended), you should definitely grab the chance of ‘buying’ a second passport. And then a third one, and a fourth one, and so on. Our experts will be delighted to assist you in the matter.
You are welcome to contact us by email, a messenger, or in any other way. The first consultation on acquiring foreign citizenship is free of charge!