St Kitts – Nevis temporarily reduces CIP family contribution

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By Caribbean News Global fav

LONDON, England – The Citizenship by Investment Unit (CIU) of the Federation of St Kitts and Nevis, on July 3, reduced the minimum contribution families must make to become economic citizens. Families of four can now contribute US$150,000, instead of US$195,000, to the Sustainable Growth Fund under the country’s Citizenship by Investment (CBI) programme.

The offer is temporary, valid from July 3, 2020, until December 31, 2020.

“We are now delighted to offer – for a limited period while the world grapples with the pressures of the COVID-19 pandemic – all of the benefits of full economic citizenship at an even more competitive rate for families, and with a new paper-free application process,” commented Les Khan, chief executive officer of the CIU.

The measure comes in response to the economic impact of COVID-19 on the country. Although St Kitts and Nevis has had no related deaths and only 15 cases, the government is using this family-friendly CBI offer as an economic safety net. The proceeds would address unemployment, support those whose income has been affected, and assist the country in continuing to fight COVID-19 efficiently.

“On June 24, the government of the Commonwealth of Dominica expanded the definition of ‘dependant’ under its Citizenship by Investment (CBI) Programme. The changes allow main applicants to add previously unqualifying adult children, parents, grandparents, and siblings. All dependants aged 16 or over must still pass due diligence checks to qualify.

“Significantly, the government introduced a new ‘sibling’ category. Biological or legally adopted siblings who are 18 or older, single, and childless can qualify for citizenship. They can be related either to the main applicant or their spouse.

In light of COVID-19, authorised St Kitts and Nevis agents – who are mandatory to apply – can temporarily submit applications online. The new offer only applies to the fund option, which remains the fastest route to citizenship from St Kitts and Nevis.

In addition to the financial contribution, all applicants must pass the programme’s due diligence checks. Once successful, the new citizens earn the right to live, work and study in St Kitts and Nevis. They can enjoy visa-free and visa-on-arrival travel to 156 destinations.

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