The most important change in the amended is minimum real estate investment reduced to $350,000 and age limit of parents cut to 55 years.
The Government of Saint Kitts and Nevis had made important changes to citizenship by investment program, came into effect from Oct 25, 2024. This change came after consultations with local and international stakeholders, indicating the Federation’s focus on innovating the Programme in line with market needs to generate economic growth.
These changes were gazetted under Saint Christopher and Nevis Citizenship by Substantial Investment (Amendment) Regulations, 2024 under STATUTORY RULES AND ORDERS No. 43 of 2024, which was published 25th October 2024, Extra-Ordinary Gazette No. 66 of 2024
1. Real Estate
Developers real estate option was reduced to US$325,000 (from current $400,000) inline with the other CIP nations. Secondly, the minimum investment to buy private homes was reduced to US$ 600,000 (previous $800,000) to a single-family private dwelling home is paid to the owner of the Approved Private Real Estate by the main applicant.
2. Parents
Age of parents now has been reduced to 55 years (from previous 65 years) of his or her spouse, living with and fully supported by the main applicant. This change supports more family applications.
3. Child Addition
Post addition of dependent child now costs US$7,500 for the addition of each dependant child of the main applicant under three years of age and born after the date the Certificate of Registration is issued to the main applicant
4. Bankrupt
Any applicant declared a bankrupt within ten (10) years of his or her application will be ineligible to apply for CBI program. Now the change 10 years time time was included.
5. CBI Committee
The Technical Committee, established to ensure the highest standards of governance for the CBI Programme, has been strengthened further and will now be comprised of five industry experts across both government and CIU, whose sole objective is to safeguard the Programme’s integrity and longevity.
The modifications in the investment amount have been taken to align with market realities while preserving the premier brand of St. Kitts and Nevis and positioning it as the first choice for investors.
– Calvin St.Juste, Chairman of SKN CIU
The developments are expected to boost demand in the Federation’s real estate CBI options, which have a proven track record of creating jobs and bringing high levels of investment into St. Kitts and Nevis.
The changes are also likely to make the CBI Programme more competitive within the global market.
