LONDON, July 3, 2020
LONDON, July 3, 2020 /PRNewswire/ -- On July 3rd, the Citizenship by Investment Unit (CIU) of the Federation of St Kitts and Nevis reduced the minimum contribution families must make to become economic citizens. Now, families of four contribute US$150,000, instead of US$195,000, to the Sustainable Growth Fund under the country's Citizenship by Investment (CBI) Programme. The offer is temporary, valid from July 3rd, 2020, until December 31, 2020.
The measure comes in response to the economic impact of COVID-19 on the country. Although St Kitts and Nevis has had no related deaths and only 15 cases, the government is using this family-friendly CBI offer as an economic safety net. The proceeds would address unemployment, support those whose income has been affected, and assist the country in continuing to fight COVID-19 efficiently.
"St Kitts and Nevis is the safest, most beautiful and prosperous country in the Caribbean to offer economic citizenship and we remain so during these difficult times," said Prime Minister Timothy Harris. "We are now delighted to offer – for a limited period while the world grapples with the pressures of the COVID-19 pandemic – all of the benefits of full economic citizenship at an even more competitive rate for families, and with a new paper-free application process," commented Les Khan, the CEO of the CIU.
In light of COVID-19, authorised agents – who are mandatory to apply through – can temporarily submit applications online. The new offer only applies to the fund option, which remains the fastest route to citizenship from St Kitts and Nevis. In addition to the financial contribution, all applicants must pass the Programme's due diligence checks.
"St Kitts and Nevis is the cradle of citizenship by investment," says Paul Singh, Director of government advisory and official marketing promotor CS Global Partners. "Established in 1984, the CBI Programme continues to attract some of the finest and most knowledgeable investors who want the best for their families. Many applicants will be pleased to learn of this time-limited offer, also knowing that, in the process, they are assisting struggling families get back on their feet."
Once successful, the new citizens earn the right to live, work and study in St Kitts and Nevis. They can enjoy visa-free and visa-on-arrival travel to 156 destinations, with Foreign Minister Mark Brantley continuing to establish more visa waiver agreements worldwide.