St Kitts and Nevis PM Unveils New Sustainable Growth Fund Starting at USD150,000 for a Single Applicant
April 9, 2018 - News St Kitts and Nevis
The Hon. Dr. Timothy Harris, PM of St Kitts and Nevis announced a new second citizenship investment fund - the Sustainable Growth Fund – as a successor to the Hurricane Relief Fund, which stopped accepting applications from March 30th, 2018 as previously announced.
The new Sustainable Growth Fund will require a contribution of USD150,000, inclusive of government fees for a single applicant. Investment for a spouse will be USD25,000 and each dependent irrespective of age will be USD10,000. Due diligence fees remain unchanged.
The investment contribution for a family of up to four will therefore be USD195,000, making it a very competitively priced investment route to second citizenship.
Investment in the fund is expected to benefit every citizen and resident of St Kitts and Nevis and will be utilized for a variety of developmental projects including health care, education, heritage and cultural protection, infrastructure, tourism and related infrastructure, climate change mitigation and resilience planning, and the promotion of local small and medium businesses.
St Kitts and Nevis will also retain its existing real estate investment option at USD400,000, plus USD75,000 in government fees for a family of 4. This investment can be resold after five years.
However, in order to attract and fund new luxury resort developments, St Kitts and Nevis will also allow a new real estate investment option where two or more investors can apply for citizenship by investment together by purchasing one piece of real estate, provided that each main applicant contributes a minimum investment of USD200,000 in real estate worth a minimum of USD400,000and the transfer shall be exempt from stamp duty. Government Fees will remain the same at USD35,000 for the main applicant, USD20,000 for the spouse and USD10,000 per dependent irrespective of age. However, real estate acquired under this option can only be resold after seven years.
The Government has given favourable consideration to the recommendation by real estate developers for existing developments to qualify for inclusion under this new option.
The Sustainable Growth Fund has already been gazetted under the Saint Christopher and Nevis Statutory Rules and Orders, No 7 of 2018.
St. Kitts and Nevis has recently signed historic visa waiver agreements with Russia and Indonesia and its citizens enjoy excellent visa-free access to key business hubs in the world including the UK, Schengen Zone, Hong Kong and Singapore.
If you would like to know more about the investing in St Kitts and Nevis citizenship via the new donation or real estate route, please visit: https://passpro.co/en/countries/saint-kitts-and-nevis-citizenship-by-investment/ or call us on +971 4 554 1449, email [email protected] or fill in the below form and our team will be happy to guide you on the best option for you and your family.
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