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New 2024 St Kitts and Nevis Citizenship by Investment Regulations
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The Honorable Dr. Terrance Michael Drew is not only the fourth and current St Kitts and Nevis Prime Minister, he’s also the “Minister responsible for Citizenship.” On Monday, July 8, 2024, he signed new St Kitts and Nevis Citizenship by Investment Regulations. Let’s discuss these statutory rules and orders below.
Saint Christopher and Nevis Citizenship by Substantial Investment Regulations, 2024
In this Extra-Ordinary Gazette No. 37 of 2024, the Minister reiterates the 4 Citizenship by Investment options available in St Kitts and Nevis:
- Purchase of a real estate unit in an Approved Development
- Payment of the Sustainable Island State Contribution (SISC) Option
- Purchase of Approved Private Real Estate
- Payment of the Public Benefit Option contribution
The country’s Citizenship by Investment regulations remain the same for the buying of property in a certified project with the threshold fixed at $400,000. Similarly, authorized independent property purchase is still available for at least $400,000 for a condo or share in a development and $800,0000 for a family residence.
$250,000 is the unchanged minimum contribution to qualify for St Kitts and Nevis Citizenship by Investment via the Approved Public Project route.
What’s changed is SISC. It’s become more reasonable, especially for a family of 4 who will make a saving of $100,000. Here is the new breakdown:
- $250,000 for you and up to 3 dependants (previously the latter option cost $350,000)
- $25,000 for each additional dependant aged under 18
- $50,000 for each extra dependant aged over 18
The Latitude Take
Christopher Willis is our Latitude Caribbean Managing Partner. He compares the initial doubling of price as “akin to sticking a finger in the air.” Willis continues: “St Kitts and Nevis went high early and now they are dialling down the amount to make their product more competitive.”
“The new regulations represent basic economics. Nevertheless, it’s good news for families who are looking for a Plan B in the Caribbean. At the same time, the country will benefit from an increased number of investors.”
How to Acquire St Kitts and Nevis Citizenship by Investment in 2024
You cannot apply to directly invest in St Kitts and Nevis citizenship. It’s necessary for you to engage the services of a reputable investment migration firm such as the Latitude Group. So, don’t delay and contact us today.