LONDON - 12/21/2018 (PRDistribution.com)
In addition to being the longest-standing country to offer a Citizenship by Investment (‘CBI’) Programme, St Kitts and Nevis is also the most innovative. In 2018, the Government developed and implemented a new, faster investment option for applicants, which provides long-term benefits for them and for local inhabitants.
St Kitts and Nevis is famous in the CBI industry for, amongst other things, being the first country to successfully introduce a programme offering economic citizenship to non-nationals. Having started in 1984, St Kitts and Nevis’ Government is the most experienced in the business. It is also the most innovative. Eight months ago a new investment option was rolled out: the government fund option, aka the Sustainable Growth Fund or ‘SGF’. In just this short space of time the fund has become one of the most popular routes to second citizenship worldwide, owing to the myriad unique advantages it offers over alternatives. Four important advantages are detailed below.
With a maximum time of three months from submission to notification of approval or otherwise, the fund option is fast and efficient, and allows for applicants’ busy schedules. Applications are regularly processed in a shorter time, often within 10 weeks. A key reason for such speed is because the fund option requires a single transfer made directly to the Government. There is no need for additional contracts or financial intermediates; it is therefore easily ascertainable by the Government whether the financial requirements have been fulfilled. It is similarly straightforward for the client, who has no further financial or physical obligations. If an even faster service is desired, applicants can request the Accelerated Application Process (‘AAP’), which reduces the processing time to 60 days or fewer. Under this initiative approval can be received within just four weeks. St Kitts and Nevis is the only country to offer such an option. Its ability to do so likely reflects its expertise, as compared to other jurisdictions.
The SGF has given applicants greater flexibility, both in terms of the investment level required and the agent who oversees the application. For all applicants, whether applying as a single applicant or with family members, the fund offers a more economic option. When choosing the agent to advise on their application, clients may select any Government-authorised agent or service provider they wish. The Citizenship by Investment Unit (‘CIU’) provides the full list of authorised persons on the official website.
The SGF provides a way for clients to invest in their adoptive communities unlike that offered by any other CBI programme. All funds invested go directly towards helping the Government effect long-term improvements for citizens. This includes advancements in local infrastructure, for example, the development of climate resilient schools, houses, and hotels; national projects, including investment in water supply, road conditions, and healthcare; and industry-led projects, such as the Youth Entrepreneurship Programme which provides young prospective business owners with crucial mentoring and support. Such improvements directly benefit economic citizens, whose futures and those of their children are safeguarded by the investment in their adoptive country and place of security. By helping to improve the daily lives of their fellow citizens, applicants can thereby become a part of the community.
Over the years, aspiring economic citizens have come to entrust in St Kitts and Nevis’ internationally respected Programme. The fund option is no different. Built around the island-nation’s reputation for integrity and respect for international values, the fund is the most reliable option for clients wishing to make a single investment. Clients face no commercial risk, and their reputations are assured by the Programme’s consistently high standards. As the increasing popularity throughout the year indicates, clients feel secure knowing that their applications are in the hands of experts.
It is this dedication to client experience and willingness to innovate that has enabled the Programme to achieve the success it has. The new fund illustrates the nation’s work towards the international policy of sustainable development and action against climate change, and its commitment to developing new ventures to achieve results. As the Government continues to utilise its expertise to ensure clients and inhabitants receive the greatest benefit from the Programme, St Kitts and Nevis will continue to lead the way in CBI.