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St Kitts and Nevis CIP Greatly Reduces Processing Times

saint-kitts and nevis program | SIDF Investment | St. Kitts and Nevis CIP |
05 June 2016

The St Kitts and Nevis Citizenship by Investment programme was discussed at a meeting between the St Kitts government and the Chamber of Industry and Commerce. The status of the programme as well as the application processing times were among the topics discussed.

The new president, José Rosa, was present at the roundtable meeting. When the new government was elected to office in 2015, the backlog at the Citizenship by Investment Unit (CIU) was severe, with over 1,500 applications in the pipeline. Some file processing times were in excess of 18 months, with the average at around 12 months.

The cabinet secretary, Josephine Huggins, was responsible for much of the turnaround of the CIU. It was transformed into a much more efficient unit. With dedication and patience from the unit, the backlog was able to be reduced significantly. Current applications are now being processed within 45 to 75 days, while applications in the government-inherited backlog are being attended to daily.

Furthermore, the CIU has implemented a 24/7 case management system whereby information on the status of an application can be accessed at any time. The CIU has also increased the number of due diligence service providers to help expedite the application processing.

The St Kitts and Nevis Citizenship by Investment Program is the longest established CIP program in the world, having been established back in 1984. The program was created to attract high net worth individuals of good character to make a significant monetary contribution to the nation. After completing due diligence procedures, qualified candidates are granted citizenship in return for their investments.

Below are the investment options for the St Kitts and Nevis CIP:
  1. US$400,000 into a government approved real estate project;
  2. Non-refundable contribution to the Sugar Industry Diversification Foundation (SIDF) in the following denominations:
    1. Single applicant = US$250,000
    2. Applicant + three (3) dependants = US$300,000
    3. Applicant + five (5) dependants = US$350,000
    4. Applicant + seven (7) dependants = US$450,000

For more information on the St Kitts and Nevis Citizenship by Investment Program, please click here.

Please fill out our Free Assessment today to find out if you qualify for any of the programs offered.

 

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