St.Kitts and Nevis To Introduce New, Innovative Ways To Strengthen Its CBI Programme
BASSETERRE, St. Kitts, March 21, 2018 (Press Unit in the Office of the Prime Minister) – The Team Unity-led Government of St. Kitts and Nevis will continue to find and employ innovative measures that will improve and strengthen the integrity of the country’s Citizenship by Investment (CBI) programme, widely regarded as the platinum brand of the economic citizenship industry.
Prime Minister Dr. the Honourable Timothy Harris gave that assurance during a national address to announce the introduction of two new options under the CBI programme.
“To date, our programme has been a success,” Prime Minister stated. “This success is due to the hard work that we have invested in improving the programme since Team Unity took office about three years ago. We have improved the efficiency, enhanced its good governance and insisted on high standards of due diligence. As a result, the St. Kitts and Nevis CBI programme is recognised throughout the world as the platinum standard.”
The Honourable Prime Minister continued, “We stand for integrity, rigour and robust due diligence. In fact, we continue to improve our due diligence process and in the near future we will be introducing biometrics, starting with applicants from high risk countries.”
The two new options announced by the prime minister are a revised real estate offering and a Sustainable Growth Fund, which will succeed the Hurricane Relief Fund (HRF) that is set to expire at the end of March 2018.
Under the Sustainable Growth Fund, a single applicant will require a contribution of US$150,000, inclusive of Government fees. The contribution for a family of up to four will be US$195,000 following incremental steps.
Secondly, a real estate offering that requires a US$400,000 investment may attract two applicants at US$200,000 each plus government fees. However, this can only be resold after a period of 7 years.
It must be noted that this offering is separate and distinct from the existing real estate investment option at US$400,000, which can still be resold after five years.
Prime Minister Harris said while the Cabinet is confident these new offerings will further invigorate the country’s CBI programme, his government, through the Citizenship by Investment Unit, will maintain its very high standards of integrity, rigour and robust due diligence procedures which are ranked among the highest in the world.