The first change is to lower the age of a qualifying dependent parent from 65 to 55 years old. The second change is to increase the maximum age of dependent children from 25 to 30 years old. As the age of financial dependency of children around the world is increasing, the age change is a welcomed modification to the Saint-Kitts program, offering an opportunity for older dependents who are still engaged in studies to immigrate with their families. In addition, children who are born after the main applicant receives his or her Saint-Kitts and Nevis citizenship will no longer be required to submit an application through the Citizenship by Investment Unit. The process of adding dependents born after citizenship is obtained has been simplified by submitting an application to the Ministry of National Security directly.
Changes have also been made to the required donation amount under the Sugar Industry Diversification Fund (SIDF) investment option. Previously, tiers of investment were based on the number of dependents, which has now been replaced with a simplified system:
- Single Applicant: US$250,000 (no change);
- Applicant with up to three dependents: US$300,000 (no change);
- Contribution for each additional dependent after the first three, regardless of age: US$25,000 (previously, seven dependents required a total investment of US$450,000, whereas under the new regulations would only require US$400,000).
Prime Minister Harris of Saint-Kitts and Nevis also commented that many changes to the Citizenship by Investment Program are to be expected over the year 2017, including improvements to the due diligence process. The program’s integrity must be maintained while at the same time offering flexibility to applicants and remaining competitive in the Caribbean Citizenship by Investment market.
For more information on the Saint-Kitts and Nevis Citizenship by Investment Program, please click here.
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