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July 2, 2024
1 min

St Kitts and Nevis Will Check the Legitimacy of Passports Obtained by Investment

Brittany Collins

In a recent statement, Mr. Terrance Drew, the Prime Minister of St Kitts and Nevis, announced that the country will scrutinise passports obtained by investors. Citizenships proven to be acquired through fraudulent means will be renounced.

St Kitts and Nevis Will Check the Legitimacy of Passports Obtained by Investment

St Kitts and Nevis Will Check the Legitimacy of Passports Obtained by Investment

According to recent news, there are suspicions that some of the St Kitts and Nevis CBI program rules might have been compromised. It is believed that some investors might have obtained the country’s citizenship for significantly lower sums than those stated in the regulations.

To maintain the integrity of the CBI program, St Kitts and Nevis has decided to renounce citizenships acquired through fraudulent means. This decision comes directly from the Prime Minister, who has expressed a firm stance on preserving the program’s credibility and the nation’s reputation.

The PM’s administration has instructed the King’s Counsel, namely the senior lawyer of the country, to initiate checks of passports issued to investors. If such a review uncovers cases of citizenship being granted against the regulations, these passports will be revoked. However, as emphasised by the Prime Minister, such actions will only be taken if sufficient evidence and facts are identified.

The St Kitts and Nevis Citizenship by Investment Program, established in 1984, is one of the oldest and most respected programs of its kind. In 2023, the Government of the country introduced changes that increased the investment threshold and made eligibility requirements stricter.

To qualify, candidates make an investment under one of the following options:

  1. Non-refundable contribution of at least $250,000. The donation is made to the Federal Consolidated Fund under the Sustainable Island State Contribution (SISC) to support health care, education, tourism, culture, and alternative energy. Theis investment cannot be returned.

  2. Real estate purchase of a minimum of $400,000+. The sum of $400,000 can be invested in a share in a government-approved real estate project or in a condominium unit designated as an Approved Private Home. Purchasing a single-family private dwelling requires an investment of at least $800,000. This investment can be returned after 7 years.

  3. Public Benefit Option Investment of $250,000 or more. Applicants invest in projects that are considered Approved Public Benefit Projects.

To qualify for citizenship, applicants must also undergo a stringent due diligence process. This includes background checks and financial scrutiny to ensure candidates have clean criminal records and legally sourced funds.

Applications are processed for at least 6 months. There are no residency requirements: candidates do not have to live in St Kitts and Nevis before or after obtaining nationality.

Investors can extend citizenship to their spouse, children, and parents. Additionally, citizenship is hereditary: any newborn child of the investor becomes a citizen of the country.