The economic migration industry is again stunned by the rapid decision-making process on the citizenship by investment program of St Kitts and Nevis. Reportedly, the applicants under the Sustainable Island State Contribution are receiving a decision within 10 weeks of applying.
While other programs take months to process the application, Saint Kitts and Nevis is ensuring that the decision is delivered on time, even after multi-layered due diligence, and background checks.
They are reportedly utilizing some highly acclaimed due diligence agencies based in the United States, United Kingdom, and Europe to run background checks on the individuals applying for citizenship.
The process is multi-faceted, yet St Kitts and Nevis has put a system in place to ensure fast-track decision-making on all applications under the Fund Option.
Experts say that the expedited decision-making process makes St Kitts citizenship an attractive option for those seeking a reliable and prompt route to second citizenship while also contributing to the nation’s sustainable development.
Comparison with Other Caribbean CBI Programme: St Kitts and Nevis
The Caribbean region is a hotspot of citizenship by investment programs, with five active economic citizenship programs in the region at the moment. Antigua and Barbuda, Dominica, Saint Lucia, and Grenada offer much cheaper options when compared with Saint Kitts and Nevis Passport.
However, various reports including the CBI Index say that St Kitts and Nevis citizenship is regarded as the “Platinum Standard of Citizenship” owing to 40-year-long longevity. Notably, the concept of “economic citizenship” was first introduced to the world by St Kitts way back in 1984.
CBI Index also says that the St Kitts passport standards as one of the strongest in the CARICOM, offering exceptional features, and mobility for its recipients.
“Benefits of citizenship of St Kitts and Nevis include visa-free travel to a growing number of worldwide destinations — the highest of any CBI country in the Caribbean and the ability to hold multiple nationalities. Due diligence procedures remain among the industry’s most robust. There is no language, education, or business requirement applicable to any of the options chosen,” according to the CBI Index 2023.
Investment Options Offered
The St Kitts Citizenship by Investment Programme offers four investment options, with one of the most popular ones being the Sustainable Island State Contribution, Real Estate Investment, Public Benefit Fund Option. Each investment option offers similar citizenship benefits to the recipients, however, the documentation and processing timelines remain different.
Sustainable Island State Contribution: SISC replaced the Sustainable Growth Fund Option. It is the most popular investment option, and the funds are utilized to support the economic and social development of the Federation. Also known as the Fund Option, it is regarded as a straightforward route to St Kitts citizenship, where the decision on the applications comes within 10 weeks. Notably, it is also highly recommended by industry experts for applicants looking for quick decisions on their applications.
Real Estate Investment: As clear by the name, the option involves the purchase of real estate. However, as part of the rule the purchased real estate only becomes resalable after a period of seven years, which makes it a little challenging for individuals looking for a swift route.
Public Benefit Option: Under the PBO, each main applicant is required to make a minimum contribution of US$250,000 into an Approved Public Benefits Project, to be paid to the relevant Approved Public Benefactor.
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