St Kitts and Nevis- first nation to establish economic citizenship programme

Basseterre: The Citizenship by Investment Programme of the smallest nation in the western hemisphere, St Kitts and Nevis, is known for its extensive due diligence checks on applicants seeking alternative citizenship.

Basseterre: The Citizenship by Investment Programme of the smallest nation in the western hemisphere, St Kitts and Nevis, is known for its extensive due diligence checks on applicants seeking alternative citizenship.

Launched in 1984, St Kitts and Nevis is the pioneer in the CBI industry and became the first country to establish an “economic citizenship programme”.

Advertisement

With a multi-layered due diligence check, St Kitts and Nevis’ Citizenship by Investment Programme is known as the “Platinum Standard” for the CBI industry worldwide. The country’s CBI Programme has the most stringent, multi-layered background checks on every individual applying for citizenship by investment.

The twin-island nation has the safest, longest-running and most secure and transparent citizenship by investment programme.

According to the Citizenship by Investment Unit of St Kitts and Nevis, the applications’ processing only begins after rigorous background checks of applicants’ documentation and other checks.

The thorough scrutinization process is carried out by the country’s government and third-party companies to have a proper look at the applicant. The multi-layered approach assures that citizenship is only given to honest and reputed people with no criminal or fraud background.

The screening procedures are conducted to ensure and cross-verify each and every aspect declared in the application by the applicant. Not only that, but the background checks also verify the source of income of the investor seeking alternative citizenship. Following this, individuals’ details such as their residency, their source of funds and occupation are checked.

The due-diligence procedure is carried out by verifying some basic documents or materials, which are:

Advertisement
  • Identifying documents (birth certificate, passport, or any other verification certificate)
  • Financial materials (including bank account numbers, information about your income and other sources of wealth, employment history, etc)
  • Personal references
  • Criminal history

After the third party verification, due-diligence firms re-send the report back to CBI units, which then again cross-verifies the facts, and the final approval or rejection depends on the unit.

The citizenship by investment programme of St Kitts and Nevis is helping the nation to run socio-economic activities. Many sectors are directly or indirectly benefitted from the programme.

The most widely used investment option under the citizenship by investment programme is the Sustainable Growth Fund (SGF), which is also called the “Fund Option”.

The citizenship by investment programme revenues provides economic assistance towards the social programmes; it also helps in providing income support to the residents and many more.

The Fund Option allows making a contribution towards the economy and social prosperity of St Kitts and Nevis.

The Sustainable Growth Fund was established in 2018, and since then, it has been assisting the country in one way or another. Some of the benefits of SGF to residents include the following:

  • Enhancing the quality of education
  • Ensure the health and well-being of a growing population
  • Promote St Kitts and Nevis’ thriving tourism industry
  • Publicize the different cultural savour of the people

An investor can contribute a minimum of USD 150,000 to apply for citizenship by investment programme under the Sustainable Growth Fund option.

The alternative citizenship of St Kitts and Nevis may be attained by an individual whose age is more than 18 years. An applicant can also add additional dependents such as spouse and children.

The Citizenship by Investment Programme of the Federation of St Kitts and Nevis ranked highest in the CBI Index for being the fastest, safest and most secure. The CBI Index is annually published by the Financial Times’ Professional Wealth Management magazine.

The CBI Index rankings are based on the points earned in nine different pillars, whereas in the pillar of due diligence, St Kitts and Nevis topped the charts.

St Kitts and Nevis is a small twin-island Federation, with a population of around 53,192. The country is loved by the tourists because of its stunning white sand beaches, sheer blue water and mesmerizing beauty sights; due to these natural gems, it is dubbed the “Paradise of the Caribbean”.

The maximum of the tourists visits the twin-island Federation through cruise ships, and now it is considered one of the most desired locations for the cruise ship travellers.

Latest articles

Nepal transports shaligrams to Ayodhya for Ram-Sita idols

Nepal has initiated the transportation of two Shaligram stones to Ayodhya to construct the idols of Ram and Janaki. Once the stones reach Ayodhya, The Ram Janmabhoomi Teertha Kshetra will create the idols of Ram and Sita. These idols will be placed in the main temple complex at Ayodhya.

St Kitts and Nevis: PM Terrance Drew commits to improvement in National Security, starts several initaives

Dr Terrance Drew, who is also responsible for the Ministry of social security, has reiterated his commitment to prioritizing the safety and security of the nation's people.

Timothy Nwachukwu uses EndSars Summit to advise new Ebonyi Governor

Timothy Nwachukwu has taken to his social media account to share some advice with the incoming governor of Ebonyi State.

Sisi Yemmie shares “So far Vlog” to sum up family life for January

Renowned Nigerian Food Vlogger, content creator and social media influencer, Sisi Yemmie has returned to her YouTube account with a sum up video for the month of January.

Related articles