In a progressive move to enhance its Citizenship by Investment (CBI) Program, the Citizenship by Investment Unit (CIU) of St. Kitts and Nevis, under the leadership of Chairman, His Excellency Calvin St. Juste, has unveiled significant updates aimed at attracting more investors by stimulating demand in St. Kitts and Nevis, contributing to the Federation’s ongoing economic development. These updates, resulting from consultations with local and international stakeholders, reflect the Federation’s commitment to adapting the program to current market needs and fostering economic growth.
The most prominent change is the reduction of the minimum real estate investment requirement from $400,000 to $325,000 USD, effective October 2024. Additionally, the minimum investment for a single-family private dwelling has been lowered from $800,000 to $600,000.
Other Key Updates On the CBI Program:
- Dependent Eligibility: The age requirement for including dependent family members has been revised, now permitting parents or grandparents under 55 to qualify. This adjustment makes the program more accommodating for extended families.
- Bankruptcy Eligibility Criteria: To uphold financial integrity, applicants are now required to have not declared bankruptcy in the past 10 years. This measure reinforces the program’s commitment to ensuring applicants demonstrate financial responsibility.
- New Fee for Young Dependents: An additional fee of $7,500 USD will be implemented for any dependent child under the age of three who is born after the primary applicant receives their citizenship certificate. This change aims to better support families with infants.
- Strengthened Property Valuation Standards: The criteria for property appraisals have been elevated, mandating that assessments be conducted by professionals certified by the Royal Institution of Chartered Surveyors (RICS) or endorsed by local financial institutions. This ensures that investors receive accurate and transparent property valuations.
Chairman, His Excellency Calvin St. Juste stated that the recent reduction in the investment threshold reflects current market conditions while preserving St. Kitts and Nevis’s esteemed reputation as a top choice for investors. He highlighted that these adjustments maintain the high standards upheld over the past four decades and are aligned with the Sustainable Island State Agenda.
With these enhancements, St. Kitts and Nevis has positioned its Citizenship by Investment Program as one of the most accessible in the Caribbean, balancing affordability with rigorous financial standards and a family-oriented approach.
If you’re interested in pursuing the St. Kitts and Nevis Citizenship by Investment, click here to book a consultation with us today.
