{"id":85682,"date":"2022-12-27T10:06:02","date_gmt":"2022-12-27T10:06:02","guid":{"rendered":"http:\/\/lebanonnewsgazette.com\/?guid=4d5ff1ae01b52fb6e72f9f464b3025ee"},"modified":"2022-12-27T10:06:02","modified_gmt":"2022-12-27T10:06:02","slug":"st-kitts-and-nevis-introduces-raft-of-changes-to-its-citizenship-by-investment-programme-benefits-both-locals-and-an-intelligent-investor","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/st-kitts-and-nevis-introduces-raft-of-changes-to-its-citizenship-by-investment-programme-benefits-both-locals-and-an-intelligent-investor\/","title":{"rendered":"St Kitts and Nevis introduces raft of changes to its Citizenship by Investment Programme, benefits both locals and an intelligent investor"},"content":{"rendered":"
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London, Dec. 27, 2022 (GLOBE NEWSWIRE) — The much-anticipated changes to St Kitts and Nevis\u2019 Citizenship by Investment Programme have been announced today by the country\u2019s recently appointed Citizenship by Investment Unit Head, Michael Martin<\/a>. Setting a bold and new tone for the industry as a whole, St Kitts and Nevis is once again leading the way for the investment immigration industry \u2013 adding a new layer of integrity to truly accelerate the country\u2019s economic diversification, empower and prosper local citizens while creating an enriching base for intelligent investors.<\/p>\n

\u201cToday, our progressive government brings to fruition these much-awaited and very important changes to our much-loved Citizenship by Investment Programme. Today marks a new era for the investment immigration industry as we boldly declare that a clear strategy will drive our Citizenship by Investment Programme with the sole purpose of benefiting our people and investors who want to see our nation flourish.\u201d<\/p>\n

\u201cToday these changes show the international community that we place honesty and integrity above all else as we look to deliver a product that will bring us a positive reputation and send a clear message that we are open for business,\u201d said Michael Martin.<\/p>\n

Watch the full video announcement <\/b>here<\/b><\/a>.<\/b><\/p>\n

The changes have been gazetted on 23 December 2022 and will take effect on 1 January 2023.<\/p>\n

Since his election in August, the Prime Minister of St Kitts and Nevis, Dr Terrance Drew, has hinted at upcoming changes to the country\u2019s Citizenship by Investment programme \u2013 reiterating multiple times that the revamped programme needs to be mutually beneficial to both Kittians and Nevisians and international investors.<\/p>\n

The Prime Minister said at a recent event \u201cWhile we navigate the complexities of managing a small island developing state in this unpredictable and highly globalized world, we have made it a priority to craft a solution to ensure that the evolution of our citizenship programme will be a sustainable model filled with integrity, transparency and accountability.\u201d<\/p>\n

The Programme will be underpinned by three fundamental principles that have guided the administration\u2019s decision making with respect to the evolved version of the twin-island\u2019s Citizenship by Investment Programme \u2013 sustainability, good governance and pragmatism.<\/p>\n

\u201cWe have crafted a sustainable model that will continue to be the envy of the international community by injecting high levels of integrity that will come through administrative improvements. We have also structured our programme to allow for greater transparency and accountability, which make the hallmarks of a good governance framework that solidifies the foundation of any successful endeavour. Lastly, we have tailored our investment options to align with market realities while preserving the platinum brand our proud nation has developed and nurtured for four decades, operating the oldest Citizenship by Investment Programme in the world,\u201d added the Prime Minister.<\/p>\n

To achieve this, the most notable change to the programme will be the introduction of a Board of Governors and a Technical Committee.<\/p>\n

Effective next year, a professional Citizenship by Investment Board of Governors will be responsible for high level supervisory matters such as providing general oversight of the operations the CBI Unit, developing and implementing policies and procedures for the CBI Unit, ensuring that application processing is completed as swiftly as possible within the time frames advertised without comprising the integrity of the programme and, continuously monitoring the global investor immigration industry to ensure that the country\u2019s Citizenship by Investment regulations align with and adjust to, international market forces.<\/p>\n

To further the Programme\u2019s good governance agenda, a Citizenship by Investment Technical Committee will be charged with ensuring that all due diligence background checks are comprehensive and that all citizenship by investment applications are reviewed thoroughly. This committee will also be tasked with making recommendations to the Prime Minister in his capacity as Minister of National Security, Immigration and Citizenship.<\/p>\n

The Technical Committee will be comprised of a chairperson, this role will be filled by the recently appointed Head of the CBI Unit, Michael Martin; a senior officer and a secretary \u2013 who will be a civil servant assigned by the Prime Minister.<\/p>\n

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Applicants can gain second citizenship in 60 days, but only for a limited time<\/b><\/p>\n

St Kitts and Nevis is offering applicants a chance to gain second citizenship in as little as 60 days through its Sustainable Growth Fund – the revenue from the fund is aimed to facilitate economic development and social upliftment in the country. The Sustainable Growth Fund will be used to provide financial support to educational institutions, medical facilities, as well as provide additional funding for the construction of infrastructure, the development of local tourism, the preservation of local culture and heritage and support of sustainable growth initiatives in the twin-island nation.<\/p>\n

The Sustainable Growth Fund remains the quickest and easiest route to second citizenship in St Kitts and Nevis and from 1 January to 30 June 2023, for a Limited Time Offer, a main applicant, following stringent background checks, can make a minimum investment of US$125,000 to the Fund and receive approval in principle within 60 days of submission of application.<\/p>\n

Under the Limited Time Offer, investment options are as follows:<\/p>\n