St Kitts and Nevis Sustainable Growth Fund

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’s establishment by the country’s government is to promote economic development and social upliftment. A minimum non-refundable contribution of $150,000 was a requirement, enabling investors to gain citizenship in St Kitts and Nevis. The Sustainable Growth Fund is no longer an investment route under the CBI Program, as per new regulations announced on 27 July 2023.

Check out our Ultimate Guide to St Kitts and Nevis Citizenship by Investment.

27 July 2023 Update

On 27 July 2023, the St Kitts and Nevis government announced significant changes to its Citizenship by Investment Program. This included changes to the investment options and costs. As per the announcement, the Sustainable Growth Fund 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. It is $300,000 including a spouse, and $350,000 for a family of up to four members.

The government uses funds from the SISC toward developing the dual-island nation based on seven key pillars:

1. Increasing the production of local food
2. Moving to Green Energy
3. Diversifying the economy
4. Attracting and supporting sustainable industries
5. Developing the Creative Economy
6. Recovering from the effects of the Covid-19 pandemic
7. 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 St Kitts and Nevis. The government will use money from the fund to improve education, infrastructure, and healthcare on the islands.

Additionally, the fund helps 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, the fantastic benefits of contributing to the fund bring 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

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 the government grants 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 to accelerate their CBI application must 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 of 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 government uses 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 is to finance healthcare initiatives in this beautiful island nation, 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 Sustainable Growth Fund are 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.

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.

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 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.

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, or gift tax. Additionally, you will benefit from enhanced mobility with visa-on-arrival and visa-free access to over 140 countries.

Frequently Asked Questions about the Sustainable Growth Fund in St Kitts and Nevis