Industry News

St. Kitts & Nevis with New Cabinet and Changes to CIP

St. Kitts & Nevis with New Cabinet and Changes to CIP

Global Citizen Webinar Series – June 16, 2020 — The latest webinar of the Global Citizen Series featured the St. Kitts & Nevis Citizenship by Investment Program, welcoming the Honourable Mark Brantley, Minister of Foreign Affairs and Aviation, and Les Khan, CEO of the Citizenship by Investment Unit (CIU) to share new updates and opportunities.

On June 5th, the Federation of St Kitts and Nevis held its general election, where Dr. Timothy Harris was sworn in for his second term as Prime Minister.

Under his tenure over the past five years, St. Kitts & Nevis saw a significant improvement in its fiscal management, foreign direct investment, public safety, and visa-free mobility for its citizens.

The twin islands’ adept response to the pandemic also became a testament to the government’s commitment to strengthen their regional and global stature and uphold their growing momentum.

“Despite the Covid-19 pandemic, our country has done remarkably well and remains a very pristine jurisdiction with an excellent reputation. We are the of course smallest of the countries in the region, but our economic performance and global diplomatic performance has been quite impressive,” shares Hon. Mark Brantley.

Despite temporary travel restrictions, St. Kitts and Nevis passport remains the most powerful within the Caribbean nations offering CIPs. “We are on a path to get to a visa-free status with countries around the world which is unparalleled in the Caribbean,” states Hon. Brantley.

Investors have access to 73% of the world with the St. Kitts & Nevis passport, which holds a 142 Mobility Score. To put things in perspective, the Covid-19 pandemic shaved access to 75 countries and resulted an effective, temporary mobility score of a mere 67.

“It is important for our audience to recognize the significance of the Passport Index and how it can be used at any point in time,” states Khan, the CEO of the St. Kitts & Nevis CIU. “We tell our clients to not only make a decision on the quality of the passport, but to consider the political stability it represents.”

New Limited Time Offer

During the Global Citizen Series Webinar, Khan also revealed that St. Kitts & Nevis is working on presenting a bonified limited time offer to help more investors qualify for the program.

“We will soon be announcing two new modifications on the Sustainable Growth Fund for a limited time to stay in line with the competition,” he states. “As one of the longest-established programs of its kind, the St. Kitts & Nevis offers the most efficient program in the world.”

It is expected that the new Limited Time Offer will be retroactive in order to further encourage the current pipeline of applications.

Update: A single applicant seeking economic citizenship with a donation to the Sustainable Growth Fund is normally required to contribute at least USD 150,000 and a family of up to four at least USD 195,000. Now the Government of St Kitts and Nevis has decided to temporarily reduce the family minimum contribution by USD 45,000 to a competitive USD 150,000. However, the minimum contribution for a single applicant will remain at USD 150,000, a level that recognizes St Kitts and Nevis’ continuing market-leading position.

Thorough Due Diligence

The webinar emphasized the significance of the rigid due diligence and vetting process that the CIU of St. Kitts & Nevis undertakes. “It is important to evaluate the credibility of the investor,” mentions Khan. “It’s not just about having the money to invest, it’s about the source of income.”

The St. Kitts & Nevis CIP was the first program to offer a fully automated system and the first to streamline an accelerated application process which provides a much faster turnaround as well as one of strongest due diligence processes.

Recent Enhancements

  • Release letters for the transfer of property from one developer to another will no longer be required.
  • Purchase & Sales agreements are to be signed by the client; whose signature must be notarized. Original document to be submitted to Unit before Certificate of Registration is issued.
  • Escrow agreements are to be signed by the client; whose signature must be notarized. Original document to be submitted to Unit before Certificate of Registration is issued.
  • The original letter of confirmation of funds in escrow is to be submitted to the Unit.

Improved Diplomatic Relations

Hon. Brantley reaffirms their commitment to expand their diplomatic footprint within Europe, Africa, and Middle East the next 5 years and further improve not only the power but also the reputation of the St Kitts & Nevis passport.

“We are actively looking to leverage our global presence and diplomacy to create more value for our passport, citizens, foreign investors, and harness these elements to advance our country,” he states.


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