St Kitts and Nevis Citizenship Program 2023 Amendments Explained

. Julia Tirazona | 02 Oct 2023

St Kitts and Nevis 2023 Amendments Explained img

St. Kitts and Nevis announced through a press release, amendments made to their citizenship by investment program in accordance with the discussions held with international partners and various stakeholders. The groundbreaking changes have been made to ensure that only individuals of value apply for the programme. The government has therefore taken the necessary measures to strengthen the programme’s regulatory system so as to preserve its platinum status in the investment migration market. Moreover, the amendments are aimed at safeguarding the integrity of the country and preserving the status of being a national of Saint Kitts and Nevis. 

St. Kitts Doubles Minimum Investment Amounts

As part of the reforms made to the St. Kitts and Nevis CBI Programme, the Sustainable Growth Fund (SGF) has been replaced by the newly introduced Sustainable Island State Contribution (SISC). A single applicant must make a minimum donation of US$250,000 in accordance with the SISC which is twice the minimum amount of investment for SGF of US$125,000. Hence, the minimum contribution amount for a family of two has increased to US$300,000 and that for a family of four has reached US$350,000. 

  • Single Applicant: USD $250,000
  • Applicant + Spouse: USD $300,000
  • Family of Four: USD $350,000

Investment through Developer’s Real Estate Option 

The minimum amount for applying through an investment in the Developer's Real Estate Option is now US$400,000. Investors must hold on to the investment for at least seven years, after which they can re-sell the property to another CBI investor.

Investment in Approved Private Home and Approved Public Benefit

Investors can qualify for the St. Kitts and Nevis CBI program by purchasing an Approved Private Home (APH) which can be an apartment or a single-family dwelling.. The minimum investment amount when buying a condominium from its owner is US$400,000 and is US$800,000 if buying a single-family dwelling from its owner. Similarly, these properties are also required to be kept for at least seven years, but cannot be sold by the CBI investor to another CBI applicant unless substantial further investment has been made into the property in the meantime. 

Minimum Contribution to Approved Public Benefit Projects Increased

Investors applying for citizenship through the Approved Public Benefit option are now required to make a minimum contribution of US$250,000 instead of US$175,000. This option is only available to approved benefactors who through their projects increase local employment, embark upon programmes including transfer of technology and local capacity building, transfer all real estate to the government on substantial completion.

Mandatory Interviews for St. Kitts CBI Applicants

St. Kitts and Nevis has also announced mandatory interviews for all main applicants and dependents aged 16 and over. The costs for the mandatory interviews will be included in the increased due diligence fees. The introduction of mandatory interviews are expected to form a strong foundation of trust between the St. Kitts and Nevis CIU and the investors. These interviews will be conducted by an independent professional company commissioned by the CIU. 

Collection of Certificate of Registration 

After the applicant receives an approval and due diligence checks have been finalised to bring the investment to its completion, a Certificate of Registration, that will serve as a proof of the applicant's citizenship, will be issued. This certificate however must be collected in person at St. Kitts and Nevis or from an Embassy or Consulate abroad approved by the Citizenship by Investment Unit (CIU).

A Stronger Framework for St. Kitts CBI Programme 

Prime Minister Terrance Drew, in announcing such changes to the CBI Programme, held that the country has shown its determination to make consistent improvements to the programme's already robust regulatory system in order attract the kind of international investment necessary to uplift the country. The primary objective of this approach is to ensure that the country maintains the highest standards of citizenship and fosters a vibrant community of nationals who share a common vision for the nation’s advancement.

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