St Kitts and Nevis has just announced significant changes to their popular citizenship by investment program (CIP). As a result, it is now much more expensive to qualify for the St Kitts Passport. In addition, there is much uncertainty for previous investors who used the real estate option to qualify. All prices are in USD.
- The nonrefundable donation option has been rebranded as the “Sustainable Island State Contribution Fund” and the price for single applicants has been increased to $250,000.
- Managed real estate now requires a minimum investment of $400,000 and the holding period is seven years.
- For residential real estate the new minimum investment is $800,000.
- Due diligence fees now $10,000 for main applicant and $7,500 for dependents.
Uncertainty for Current Owners of St Kitts CIP Real Estate
Indeed, the minimum investments for the two real estate options has been effectively doubled by the government from $200,000 to $400,000 (managed property) and from $400,000 to $800,000 (residential property).
The holding period for real estate has also been affirmed at a minimum seven years. After the holding period the investor can ostensibly sell the property to recoup their capital while retaining the St Kitts passport in perpetuity.
However, the new changes now eliminate the option for the current owner’s of managed property to sell their investment to a new citizenship applicant. The effects of this have yet to be seen as developers are currently still adjusting to the new regulations.
If left unchanged, how will eligible CIP real estate owners sell their property at the end of the holding period? The government has effectively destroyed the market by doubling the price and eliminating the backing of the citizenship program.
Unfortunately, this is not the first time that the St Kitts CIP has retroactively altered regulations in such a way as to make things much more difficult for successful CIP applicants.
For example, three years ago they changed course and required all citizens by investment to be physically present on the island to acquire tax identification numbers. Previously, this was allowed to be done remotely.
Just the same, the new pricing for the St Kitts passport is currently in effect with the changes listed below. Stay tuned for further updates.
St Kitts Passport Program (Real Estate)
| Real Estate Program Fees | Real Estate Costs |
| Investment | $400,000 (managed property) $800,000 (residential property) |
| Due Diligence | $10,000 main applicant $7,500 spouse $7,500 dependent >16 years old |
| Government Fees | $25,000 main applicant $15,000 spouse $10,000 each dependent child <18 years of age $15,000 each dependent child >18 years of age |
| 5% Share Registration Fee* | $20,000 (share sale only) |
| Legal Fees | $5,000 |
| Digital Application Fees | $250 |
| Bank Due Diligence Fees | $200 |
| Certificate of Registration | $50 per person |
| Passport Fees | $550 per person |
| Courier Fees | $150 |
*5% of investment amount is payable to St Kitts Inland Revenue Division for share registration.
**The accelerated application fees are optional. If elected for, the process guarantees successful applicants will receive their citizenship and passport in 60 days or less. Contact me for pricing.
***Dependent children over 18 years of age and less than 30 years of age must be unmarried and also enrolled full time at an institution of higher learning. Additionally, they are fully financed by the main applicant.
Sustainable Island State Contribution Fund
| SISC Fees | SISC Amounts |
| Investment | $250,000 single applicant $300,000 with spouse $350,000 Family of Four $10,000 each additional dependent <18 $25,000 each additional dependent >18 |
| Due Diligence | $10,000 main applicant $7,500 spouse $7,500 dependent >16 years old |
| Legal Fees | $5,000 |
| Digital Application Fees | $250 |
| Bank Due Diligence Fees | $200 |
| Certificate of Registration | $50 per person |
| Passport Fees | $550 per person |
| Courier Fees | $150 |
*The accelerated application fees are optional. If elected for, the process guarantees successful applicants will receive their citizenship and passport in 60 days or less. Contact me for pricing options.
**Dependent children over 18 years of age and less than 30 years of age must be unmarried and also enrolled full time at an institution of higher learning. Additionally, they are fully financed by the main applicant.
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