Important Changes On Caribbean Citizenship By Investment Programs

As of July 27, 2023, the Government of St. Kitts & Nevis has announced a complete overhaul of their Citizenship by Investment Programs. The changes have been made in line with general demands from the US, and requests from the EU and the UK for the continuation of visa-free access from Caribbean countries, and are effective immediately.

The main changes brought to the St. Kitts Program are as follows:

  • There's a significant increase in investment fees: The donation option for a single investor now starts at $250,000 instead of $125,000, and real estate investment (hotel share option) starts at $400,000, which must be held for at least 7 years. In addition, depending on the total number of family members applying, an additional government fee ranging from $100,000 to $300,000 will be added to the investment amount. So, there is quite a significant increase initially.
  • From now on, Siblings and Grandparents of the Main Investor will no longer be added to the application, and parents must be at least 65 years old;
  • During the citizenship process, a personal or online interview is now mandatory for the Main Applicant (investor) and potentially family members over the age of 16.
  • Passports must now be personally received in St. Kitts or at an embassy/consulate abroad,
  • The Due Diligence (Government Review) process related to investors will now be conducted by an independent auditing firm based in the EU, UK or US.
  • The St. Kitts Citizenship Unit must complete each application within a maximum of 120 days.

It's almost certain that these changes brought by the St. Kitts Government in line with EU demands will be followed in a similar way by other Caribbean Countries who want to maintain visa-free access to the UK and EU.

In this regard, it's expected that there will be a significant increase in the investment fee in the Citizenship by Investment programs in St. Lucia, Antigua & Barbuda, Dominica, and Grenada as well, possibly tripling or quadrupling in a very short time.

The St. Lucia Citizenship by Investment program currently offers the most affordable option; it's possible to apply by making a donation investment starting from $100,000 for a single investor. The process is generally completed within 6-8 months.

With a St. Lucia passport, you can travel without a visa to 147 countries including the UK, all EU member countries, and Canada. It's possible to stay in the UK for 6 months and in EU (Schengen) member countries for up to 90 days.

Since there is a significant increase in the necessary investment amounts up to $300,000, we recommend all investors planning to apply for Citizenship by Investment programs to proceed with their applications as soon as possible.

If you have any questions about these important changes or the Citizenship by Investment Programs, you can contact us.

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