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St Kitts & Nevis Lowers CBI Contribution Price to Align With Caribbean Competitors · IMI Podcasts

• 0:00
  SPEAKER_00: The St.
• 0:00
  SPEAKER_00: Kitts and Nevis Citizenship by Investment Unit has issued a memo announcing changes to its citizenship by investment program with immediate effect.
• 0:09
  SPEAKER_00: Michael M.
• 0:10
  SPEAKER_00: Martin, CEO of the St.
• 0:12
  SPEAKER_00: Kitts and Nevis CIU, outlined the revised CBI option investment thresholds and post-approval fees.
• 0:19
  SPEAKER_00: Mateen also informed agents that all applicants under the St.
• 0:22
  SPEAKER_00: Kitts and Nevis Citizenship by Investment Program should be promptly notified of the updates outlined hereinabove.
• 0:30
  SPEAKER_00: The new regulations include a reduced minimum investment threshold for the Sustainable Island State Contribution Option.
• 0:36
  SPEAKER_00: This announcement follows sweeping price changes announced by other Caribbean CBI jurisdictions in recent weeks.
• 0:44
  SPEAKER_00: St.
• 0:44
  SPEAKER_00: Kitts and Nevis previously changed its pricing structure in July 2023 to align with reported EU demands, marking these new regulations as the second considerable update to its CIP pricing in under a year.
• 0:59
  SPEAKER_00: The memo outlined the investment amounts under the CIP.
• 1:02
  SPEAKER_00: The CIU has introduced a significant reduction in the minimum contribution amount for the SISC option.
• 1:09
  SPEAKER_00: $250,000 for a single applicant or a family of up to four persons, compared to$350,000 previously,$25,000 for each additional dependent under 18 years of age, and$50,000 for each additional dependent aged 18 or older.
• 1:30
  SPEAKER_00: This reduction brings St.
• 1:32
  SPEAKER_00: Kitts and Nevis's contribution threshold closer to the US$200,000 price point recently adopted by the other Caribbean CBI jurisdictions of Dominica, Grenada, and St.
• 1:43
  SPEAKER_00: Lucia, in line with the Pan-Caribbean CIP MOA.
• 1:47
  SPEAKER_00: Antigua and Barbuda has proposed similar new prices, but has not implemented any changes as it requested a 30-day postponement.
• 1:56
  SPEAKER_00: The developer's real estate investment, private real estate investment, and public benefit options maintain their existing minimum investment thresholds of$400,000.
• 2:07
  SPEAKER_00: Private real estate investment of$400,000 for a condominium unit, or a share in an approved real estate development, or$800,000 for a single-family private dwelling home, and the public benefit option for$250,000.
• 2:25
  SPEAKER_00: All real estate investments are resaleable after a holding period of seven years.
• 2:30
  SPEAKER_00: The memo also details post-approval CBI application fees for the real estate and public benefit investment options for$25,000 for the main applicant, waived for the public benefit option,$15,000 for the spouse of the main applicant,$10,000 for each dependent under 18 years old, and$15,000 for each dependent aged 18 years or older.
• 2:57
  SPEAKER_00: Due diligence fees, application processing fees, and certificate of registration fees remain unchanged.
• 3:04
  SPEAKER_00: $10,000 for the main applicant,$7,500 for the spouse and each dependent aged 16 years or over, an application processing fee for$250 US dollars per applicant, and a certificate of registration fee for$50 per applicant.
• 3:23
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
• 3:29
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• 3:35
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