St Kitts and Nevis has the oldest Citizenship by Investment Program in the world, having been established in 1984. One route under the scheme was the St Kitts and Nevis Sustainable Growth Fund (SGF). The fund was established to promote economic development and social upliftment. A minimum investment of $150,000 was required, enabling investors to gain citizenship in St Kitts and Nevis.
The Sustainable Growth Fund option is no longer an investment route under the St Kitts’ CBI Program and has been replaced by the Sustainable Island State Contribution (SISC).
What was the Sustainable Growth Fund?
The establishment of the St Kitts and Nevis Sustainable Growth Fund (SGF) marked the replacement of the Sugar Industry Diversification Foundation (SIDF), which had been operational since September 2006. This new fund bolstered the nation’s prosperity by enhancing local healthcare, education, and infrastructure.
While many neighboring Caribbean countries grappled with the effects of climate change and the transition to sustainable practices and alternative energy sources, St Kitts and Nevis maintained a leading position due to the funding allocated through the SGF.
The fund–Sustainable Island State Contribution (SISC)–not only allocated resources for vital aspects of the nation’s health but also attracted additional businesses and financial investments through granting citizenship, as well as further investments made by new citizens.
What is the new Sustainable Growth Fund?
In 2023, the St Kitts Citizenship by Investment Unit announced significant changes to its Citizenship by Investment Program. This included changes to the investment options and costs. As per the announcement, the SGF is no longer a CBI investment route.
The replacement is a new investment option the government calls the Sustainable Island State Contribution (SISC). The minimum contribution amount for this route is $250,000 for a single applicant or a family of up to four. All contributions are payable to the Federal Consolidated Fund.
The government uses funds from the SISC to develop the dual-island nation based on seven key pillars:
- Increasing the production of local food
- Moving to Green Energy
- Diversifying the economy
- Attracting and supporting sustainable industries
- Developing the Creative Economy
- Recovering from the effects of the Covid-19 pandemic
- Extending social protection and safety nets to protect vulnerable individuals and communities
The SISC route does not include government fees but does include other fees, such as processing fees. Impacting areas such as food security, green energy, economic resilience, arts funding, enhanced student support services, and pandemic recovery, the SISC allows investors to target their priorities and create a positive impact. This option is a secure and accountable means for investors looking to empower meaningful change in the nation and obtain second citizenship by investment.
Check out our St Kitts and Nevis Citizenship by Investment Ultimate Guide by Experts
The Sustainable Growth Fund: Uses
By obtaining St Kitts and Nevis dual citizenship through Sustainable Growth Fund investment–now known as the Sustainable Island State Contribution (SISC)–you are supporting the growth and development of St Kitts and Nevis. The government will use money from the fund to improve education, infrastructure, and medical facilities on the islands.
Additionally, the fund helped to develop and implement sustainable practices and alternative energy in St Kitts and Nevis. This is a way to combat the effects of climate change. Finally, one of the significant benefits of investing in St Kitts and Nevis Sustainable Growth Fund is it brings new businesses, citizens, and foreign investment into the country.
The SGF for St Kitts and Nevis Citizenship: Benefits
There are a number of advantages that you can benefit from when choosing to contribute to the St Kitts Sustainable Growth Fund:
- You only make your contribution to the SGF after receiving your approval-in-principle letter from the St Kitts government.
- Streamlined and efficient process
- Discreet channel for investment, ensuring your privacy
- No language, test, or residency requirements
- Inclusion of family members
- Low tax regime with no income, inheritance, or gift tax
- Second citizenship in a country committed to compliance international standards set by the US Treasury, FATF, and other international governing bodies
St Kitts and Nevis Citizenship through the SGF Option: Application Process
1: Success team discussion: Obtain a proposal from our team at Global Citizen Solutions detailing all costs and fees associated with your SGF contribution and citizenship application.
2: Start onboarding: As an authorized international CIP agent, Global Citizen Solutions will help you prepare your application form and collect all the necessary supporting documents.
3: Application review: Global Citizen Solutions will review your application to ensure everything is in order to officially submit your application.
4: Application submission: Submit your application to the St Kitts Citizenship by Investment Unit and pay the necessary processing fees. You must participate in a mandatory online interview as part of the due diligence process conducted by the Citizenship by Investment Unit.
5: Decision confirmation: Once your application has been approved by the government of St Kitts and Nevis, you will receive a confirmation letter with the status approval-in-principle.
6: Financial contribution: Make your financial contribution to the SGF.
7: Receive your passports at home: You will receive your new St Kitts and Nevis passport after the government grants St Kitts and Nevis citizenship.
Calculate the cost of dual citizenship for you and your family, including all associated fees.
Purpose of the Sustainable Growth Fund and Granting Citizenship
The mutually beneficial citizenship program and investing in the Sustainable Growth Fund (SGF) had a lasting impact on all of St Kitts and Nevis’ citizens. The SGF–replaced by the SISC (Sustainable Island State Contribution)–represented the ongoing advancement of the country to realize its potential as a prospering island nation with an accelerating economy.
Education
A significant impact of the St Kitts and Nevis Sustainable Growth Fund on local economy is that the government used the fund to enhance the quality of education on the island by providing citizens with the knowledge and skills that enable them to forge successful careers. Through the country’s Education Sector Plan, the government has invested money from the fund in improving access to education and the quality of education.
Healthcare
The Sustainable Growth Fund contributed to finance healthcare initiatives in this beautiful island nation, including the renovation of the Sylvia Garnett Primary Health Care Facility. Moving forward, the government intends to introduce a universal healthcare system.
Climate resilience
While the country benefits from warm temperatures year-round, it is also prone to experiencing hurricanes. As such, funds from the Sustainable Growth Fund boosted the nation’s resilience to these storms through initiatives like the Hurricane Relief Fund.
Additionally, the nation has committed to moving towards renewable energy and reducing carbon dioxide emissions by introducing new initiatives and developing smart technology used to address the effects of climate change.
Infrastructure
As a developing nation, St Kitts and Nevis used the SGF to implement structural improvements to pipelines, drainage systems, and roads. Such initiatives have helped to develop the nation’s infrastructure, which also helps to attract further foreign investment in the country.
Tourism
Tourism makes up the nation’s main source of income and employs a significant portion of St Kitts and Nevis’ workforce. As such, the SGF was used to further promote tourism by enabling the construction of new resorts, attracting international brands, and promoting ecotourism activities that help to minimize the impact of the tourism industry on the environment.
St Kitts and Nevis Citizenship
As mentioned above, the Sustainable Island State Contribution has replaced the Sustainable Growth Fund under the country’s citizenship by investment program. In addition to the Sustainable Island State Contribution, international investors can choose to make a real estate investment or contribute to the Public Benefit Option to obtain citizenship. If you choose the St Kitts real estate citizenship route, a minimum investment of $325,000 (share of property or condominium unit) OR $600,000 (single-family private house) is required. Under the PBO route, a minimum investment of $250,000 is required.
In addition to the minimum qualifying investment, foreign investors will need to pay fees such as due diligence fees, government fees, application fees, and passport fees. The overall cost of obtaining citizenship will depend on your chosen investment route and the number of dependents included in your application.
With a St Kitts and Nevis passport, you can benefit from a low tax regime, including no tax on foreign-earned income, inheritance tax, gift tax, or wealth tax. Additionally, you will benefit from enhanced mobility with visa on arrival and visa free access to 153 countries.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain St Kitts and Nevis citizenship?
- Authorized International Marketing Agent. Global Citizen Solutions have official certification by the Government of St Kitts and Nevis to promote and market their Citizenship by Investment program. You can find a copy of our certificate by clicking the image on the right
- Global approach by local experts. We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate. We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency. We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution. A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management. All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about the Sustainable Growth Fund in St Kitts and Nevis
What is the Sustainable Growth Fund (SGF) in St Kitts?
The Sustainable Growth Fund St Kitts and Nevis is a fund established by the country’s government to promote economic development and social upliftment. The Sustainable Growth Fund was a popular investment route in the investment migration industry; however, it has been replaced by the Sustainable Island State Contribution (SISC) as one of the CBI investment options to gain citizenship.
How much to invest in St Kitts and Nevis?
The Sustainable Growth Fund (SGF) required a $125,000 investment when it was active. The new St Kitts and Nevis citizenship cost will vary depending on your investment route. A minimum contribution of $250,000 to the Sustainable Island State Contribution (SISC), which replaced the SGF, is required for a single applicant. A minimum investment of $250,000 is required for the Public Benefit Option. For the St Kitts and Nevis real estate investment route, a $325,000 investment in a share of property or investment in a condominium unit, or a $600,000 investment in a single-family private house is needed. Besides the investment required, the main applicant should note that due diligence fees apply.
How are the funds used for sustainable development?
The government uses funds from the Sustainable Island State Contribution to provide financial support in key sectors, such as a transition to Green Energy. One way it does this is by creating fiscal incentive packages to attract investments in renewable energy. In April 2023, the Federal Government and NHC entered into a contract with a Trinidadian developer to finance and develop affordable smart homes for the population – another great example of their move towards becoming a sustainable island state.
What are the benefits of the SISC?
Funds from the SISC are used to develop sustainable practices and transform the nation into a Sustainable Island State. This includes supporting local food production, Green Energy, economic diversification, sustainable industries, and more.
The benefits of contributing to the SISC as an investment option include acquiring alternative citizenship in the country. With Nevis citizenship, you enjoy visa free travel to over 150 countries, a favorable tax environment, and the ability to pass citizenship down to future generations.
What is the eligibility criteria for contributing to the SGF?
Besides the qualifying investment, eligibility criteria for St Kitts and Nevis Sustainable Growth Fund include being 18 or older, having a clean criminal record, not being declared bankrupt within ten years of applying, and having excellent character.
