St Kitts and Nevis Reduces Contribution Amount for Families
Last week St Kitts and Nevis announced certain changes to its citizenship by investment program, namely reducing the amount of the contribution to the Sustainable Growth Fund for families up to four. The cost has been lowered from $195,000 to $150,000 and is valid until the end of 2020. According to the circular issued by the Citizenship by Investment Unit (CIU), this action was taken “in light of the significant global economic fallout caused by the coronavirus pandemic and efforts by the country to find creative ways to stabilize the economy”.
From now on the contribution amount remains the same regardless of the number of people included in the citizenship application of up to four. However, the total cost of the citizenship application is a bit higher due to the application, passport, due diligence fees, and legal service cost.
St Kitts and Nevis’ citizenship by investment program was established in 1984 and is the oldest program of the investment immigration industry. It has been popular for decades owing to its numerous benefits such as the ability to have dual citizenship, an attractive tax regime, and no requirement to be residing in the country. St Kitts and Nevis’ passport allows to travel visa-free to over 150 countries, including Schengen states, the UK, Hong Kong and Singapore. The islands’ warm and sunny climate and beautiful Caribbean nature also attract investors worldwide.
If you would like to benefit from the reduced contribution fee and obtain St Kitts and Nevis’ citizenship by investment, contact GLS Private Office. Our immigration experts will answer your questions and help you file all the necessary documents hassle-free.