Business, Local news, News

St Kitts & Nevis Lowers CBI Contribution Price to Align With Caribbean Competitors

Published 10 July 2024

Buckie Got It, St. Kitts and Nevis News Source

• caribbean, cbi, cip, citizenship by investment, club, saint kitts and nevis

Credited: Ahmad Abbas Amman

St Kitts & Nevis Lowers CBI Contribution Price to Align With Caribbean Competitors

The St Kitts & Nevis Citizenship by Investment Unit (CIU) has issued a memo announcing changes to its Citizenship by Investment Program (CIP). with immediate effect.

Michael M. Martin, CEO of the St Kitts & Nevis CIU, outlined the revised CBI option investment thresholds and post-approval fees.

Matin also informed agents that

“all applicants under the St Kitts and Nevis Citizenship by Investment Program should be promptly notified of the updates outlined hereinabove.”

The new regulations include a reduced minimum investment threshold for the Sustainable Island State Contribution (SISC)

option. This announcement follows sweeping price changes announced by other Caribbean CBI jurisdictions in recent weeks.

St Kitts & Nevis previously changed its pricing structure in July 2023 to align with reported

EU demands, marking these new regulations as the second considerable update to its CIP pricing in under a year.

The memo outlined the investment amounts under the CIP:

Sustainable Island State

Contribution (SISC)

The CIU has introduced a significant reduction in the minimum contribution amount for the SISC option:

  • US$250,000 for a single applicant or a family of up to four persons (compared to US$350,000 previously)
  • US$25,000 for each additional dependant under
    18 years of age
  • US$50,000 for each additional dependant aged 18 or older

This reduction brings St Kitts and Nevis’ contribution threshold closer to the

US$200,000 price point recently adopted by the other Caribbean CBI jurisdictions of Dominica, Grenada, and St Lucia, in line with the pan-Caribbean CIP MoA. Antigua & Barbuda has proposed similar new prices but has not implemented any changes as it requested a 30-day postponement.

This reduction brings St Kitts and Nevis’ contribution threshold closer to the

US$200,000 price point recently adopted by the other Caribbean CBI jurisdictions of Dominica, Grenada, and St Lucia, in line with the pan-Caribbean CIP MoA. Antigua & Barbuda has proposed similar new prices but has not implemented any changes as it requested a 30-day postponement.

Real Estate and Public

Benefit Options

The Developer’s Real Estate Investment, Private Real Estate Investment, and Public Benefit options maintain their existing minimum investment thresholds:

Developer’s Real Estate
Investment: US$400,000

• Private Real Estate
Investment:

  • US$400,000 for a condominium unit or a share in an approved real estate
    development
  • US$800,000 for a single-family private dwelling home
  • Public Benefit Option:
    US$250,000

All real estate investments are resalable after a holding period of seven years.

Fees

The memo also details post-approval CBI application fees for the real estate and Public Benefit investment options:

  • US$25,000 for the main applicant (waived for the Public Benefit Option)
  • US$15,000 for the spouse of the main applicant
  • US$10,000 for each dependant under 18
  • US$15,000 for each dependant aged 18 years or older

Due diligence fees, application processine fees. and certificate of registration fees remain unchanged:

  • Due Diligence Fees:
  • US$10,000 for the main applicant
  • US$7,500 for the spouse and each dependant aged 16
    years or over
  • Application Processing Fee:
    US$250 per applicant
  • Certificate of Registration
  • Fee: US$50 per applicant

IMI Pros who can help with Saint Kitts & Nevis CIP

Credit:

https://www.imidaily.com/caribbean/st-kitts-nevis-lowers-cbi-contribution-price-to-align-with-caribbean-competitors

You Might Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>