27 July 2023 Update
On 27 July 2023, the St Kitts and Nevis government announced significant changes to its Citizenship by Investment Program, which included changes to the investment options and costs. As per the announcement, the Sustainable Growth Fund is no longer a CBI investment route. It has been replaced by a new investment option called the Sustainable Island State Contribution (SISC). The minimum contribution amount for this route is $250,000 for a single applicant, $300,000 if a spouse is included, and $350,000 for a family of up to four members.
Funds from the SISC will be used toward developing St Kitts and Nevis into a Sustainable Island State 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 Sustainable Growth Fund: Uses
By contributing to the Sustainable Growth Fund, you are supporting the growth and development of the island of St Kitts and Nevis. Money from the fund is used to improve education, infrastructure, and healthcare on the islands.
Additionally, the fund is used to develop and implement sustainable practices and alternative energy in St Kitts and Nevis as a way to combat the effects of climate change. Finally, the fantastic benefits of contributing to the fund bring new businesses, citizens, and foreign investment into the country, helping promote and strengthen its economy.
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 and Nevis Sustainable Growth Fund:
- You only make your contribution to the SGF after receiving your approval-in-principle letter from the St Kitts and Nevis 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
St Kitts and Nevis Citizenship: 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 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 Sustainable Growth Fund.
7: Receive your passports at home
You will receive your new passports after being granted St Kitts and Nevis citizenship.
Sustainable Growth Fund Limited-Time Offer
As of 27 July 2023, the LTO is no longer available. The government of St Kitts and Nevis is offering a limited-time offer, valid from 1 January 2023 to 31 January 2024. The section below highlights the difference in minimum contribution amounts normally and under the limited-time-offer:
Limited-Time Offer – 1 January 2023 to 31 January 2024
- Single applicant: $125,000
- Main applicant and spouse: $150,000
- Main applicant and up to three dependents: $170,000
- Additional dependents under 18: $10,000 each
- Additional dependents 18 and over: $25,000 each
Minimum contribution amounts from 1 February 2024
- Single applicant: $150,000
- Main applicant and spouse: $175,000
- Main applicant and up to three dependents: $195,000
- Additional dependents under 18: $10,000 each
- Additional dependents 18 and over: $25,000
Accelerated CBI Application Processing Time
Under the SGF limited-time offer (LTO), applicants automatically benefit from an accelerated CBI application processing time of 60 days from the Citizenship by Investment Unit’s acknowledgment of their application at no additional costs. Following 31 January 2024, applicants choosing to make an accelerated CBI application must pay the additional cost of $20,000. As of 27 July 2023, the Accelerated Application Process is no longer available for any route under the CBI Program.
Due diligence fees for an application under the LTO or a non-accelerated CBI application from 1 February 2024
- Main applicant: $7,500
- Dependents 16 and over: $4,000 each
Due diligence fees for an accelerated CBI application from 1 February 2024
- Main applicant: $20,000
- Dependents 16 and over: $10,000 each
Post-approval application fees
From 1 February 2024, individuals who choose the accelerated CBI application will be required to pay the following post-approval application fees:
- Main applicant: $35,000
- Spouse: $25,000
- Dependents under 18: $15,000 each
- Dependents 18 and over: $25,000 each
Mutually Beneficial Citizenship Program
Investing in the Sustainable Growth Fund has a lasting impact on all St Kitts and Nevis citizens and enhances your future. The SGF represents the ongoing advancement of the country to realize its potential as a prospering island nation with an accelerating economy.
Education
The fund is used 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 has been used to finance healthcare initiatives in St Kitts and Nevis, such as 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 SGF are being used to boost 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 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 has used the SGF to implement structural improvements to pipelines, drainage systems, and roads. Such initiatives help 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 has been 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.
Check out our article: Americans Relocating to St Kitts and Nevis – A Guide.
St Kitts and Nevis Citizenship
In addition to the Sustainable Island State Contribution, 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 route, a minimum investment of $400,000 (share of property or condominium unit) OR $800,000 (single-family private house) is required. Under the PBO route, a minimum investment of $250,000 is required.
With a St Kitts and Nevis passport, you can benefit from a low tax regime, including no tax on foreign-earned income, inheritance tax, or gift tax. Additionally, you will benefit from enhanced mobility with visa-on-arrival and visa-free access to over 140 countries.
Global Citizen Solutions: Who We Are and How We Can Help You
Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for individuals wishing to secure their future and become global citizens.
With offices in Portugal, the United Kingdom, Hong Kong, and Brazil, our multilingual team guides individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.
Frequently Asked Questions about St Kitts and Nevis Sustainable Growth Fund
What is the Sustainable Growth Fund St Kitts?
The St Kitts and Nevis SGF is a fund established by the country’s government to promote economic development and social upliftment. The Sustainable Growth Fund has been replaced by the Sustainable Island State Contribution (SISC) as the CBI fund investment route.
How much to invest in St Kitts and Nevis?
The cost will vary depending on your investment route. A minimum contribution of $250,000 for the Sustainable Island State Contribution (SISC) is required for a single applicant. A minimum investment of $250,000 is required for the Public Benefit Option. For the real estate investment route, a $400,000 investment in a share of property, a $400,000 investment in a condominium unit, or a $800,000 investment in a single-family private house is needed.
For more information, check out our article: St Kitts and Nevis Citizenship by Investment – The Ultimate Guide by Experts.
How does St Kitts and Nevis ensure the funds are used for sustainable development?
The government uses funds from the Sustainable Island State Contribution to develop 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.
