Joseph Rowe Law Firm – St. Kitts & Nevis CBI (Regulation Changes effective January 2023)

St Kitts and Nevis Citizenship by Investment Programme
What’s coming in 2023?

The Government of St. Kitts and Nevis has published new CBI Regulations to take effect January
1, 2023. We expect additional details and clarifications will be shared by the Citizenship by
Investment Unit (CIU) in the coming days and weeks as implementation of the new Regulations
get underway.
Here are 20 things we think you need to know now.

Sustainable Growth Fund Option (SGF)
1. Great News – The CIU has reintroduced the SGF Limited Time Offer (LTO) that will be
valid from January 1, 2023 – June 30, 2023. The LTO reduced contributions are as
follows:
➢ Single Applicant – US$125,000.00
➢ Main applicant and a spouse – US$150,000.00
➢ Main applicant, spouse and two dependants – S$170,000.00
➢ Each additional dependant under 18 – US$10,000.00
➢ Each additional dependant over 18 – US$25,000.00

2. More Great News! – Applications that are submitted under the LTO will qualify for
the Accelerated Application Process (AAP) with a faster processing timeframe,
reduced from 90 days to 60 days, at no additional cost.

3. From July 1, 2023, the fees will be as follows:

➢ Single applicant – US$150,000.00
➢ Main applicant and spouse – US$175,000.00
➢ Main applicant, spouse, and two dependants- US$195,000.00
➢ Each additional dependant under 18 – US$10,000.00
➢ Each additional dependant 18 or over – USS$25,000.00

4. The usual 90 days processing time will take effective after the LTO expires on June 30,
2023.

5. Are you an International Marketing Agent (IMA)? You would be happy to know that
the commission on successful SGF CBI applications will increase from US$15,000 to
US$20,000. BUT NOTE: if you want to remain an IMA after January 31, 2023, you must
reapply under these new CBI Regulations.
Public Good Investment Option (PGIO)

6. The Alternative Investment Option (AIO) will be replaced by the newly introduced
Public Good Investment Option (PGIO). Similar to the AIO, the PGIO is a privately
funded development project whereby Approved Public Good Investor develops a
specified industry in St. Kitts and Nevis or construct government-approved
infrastructure.

7. Please note the following:
➢ The minimum investment per application is US$175,000.00.
➢ All developments previously designated as AIO projects will lose such
designation after 45 days of the coming into effect of the new CBI
Regulations.
➢ The CBI Unit will not accept CBI AIO applications after February 15, 2023.
Real Estate Option

8. Existing Approved Projects have 45 days within which they must apply to become
Approved Developments under the new Regulations.

9. The minimum investment required by law in an Approved Development is
US$200,000 (and it can be resold after 7 years).

10. The minimum investment of US$200,000 does not include due diligence fees, CBI
application processing fees, government approval fees, returns on investment, agent
fees or any other commissions and fees, all which must be paid in addition to the
minimum investment amount.
Private Homes Sale Option

11. The Private Home Sale Investment Option will be retained as a permanent investment
option under the CBI Programme.

12. Where any citizen of Saint Christopher and Nevis owns land held by Certificate of Title
on which a single-family private dwelling home is constructed, and wishes to sell the
property, the private dwelling homeowner can apply for that property to be
designated an Approved Private Home to a purchaser interested in acquiring
Citizenship by Investment.

13. The minimum investment to be paid by a main applicant wishing to invest in an
Approved Private Home is US$400,000.00.
14. An Approved Private Home is subject to the following restrictions:
➢ It cannot be resold within seven years from issuance of the title document.
➢ It cannot be resold to any other CBI applicant.
➢ It cannot be converted into apartments or condominiums.

15. Two or more CBI applicants may apply together by purchasing one Approved Private
Home provided each contributes at least US$400,000 to the purchase price.
Accelerated Application Process (AAP)

16. The CIU has evolved the application processing period. Instead of the usual 90 days
processing period, an applicant can obtain St. Kitts and Nevis citizenship within 60
days. Under the accelerated application process, your application will be processed
within 60 calendar days from the date the application is submitted.

17. The fees for the AAP are as follows:
➢ Main applicant – US$42,500.00
➢ Spouse – US$32,500.00
➢ Dependant child under 18 – US$22,500.00
➢ Dependant child/other dependant over 18 – US$37,500.00

18. Some General Changes to note:
➢ Dependent siblings of the main applicant or the main applicant’s spouse
must now be 25 or younger (reduced from 30 years or younger).
➢ Approved CBI applicants’ right to resell units purchased after 2012 and
prior to 2023 is preserved but on resale the unit cannot be used for CBI.

19. Thinking of adding dependents after approval? CBI applicants can no longer be
added after approval-in-principle. So let us guide you on the best way to structure
your family application.

20. Failure to comply with minimum investment requirements may result in financial and
disciplinary penalties for persons involved. Therefore, take care in choosing the right
investment option and service provider to secure your investment for global mobility
and security.

Contact us today for additional information or if you have any questions concerning the St. Kitts
and Nevis Citizenship by Investment Regulations, 2022.

Joseph Rowe
Unit #5, Long Stone House
Main Street, Charlestown
Nevis
Tel: 1-869-469-1015 Cell: 1-869-762-1015
Email: cbi@josephrowelaw.com or info@josephrowelaw.com