Citizenship by Investment

Public Benefit Investment Option

Private Home Investment Option

St Kitts and Nevis have revamped their popular Citizenship By Investment Program, with some exciting new options

CHARLESTOWN, NEVIS, ST. KITTS & NEVIS, March 9, 2023 /EINPresswire.com/ -- Back in the 1980s, the government of St Kitts and Nevis came up with the idea of Citizenship By Investment. As the oldest option in the world it is regarded as the Platinum Standard, a level they have maintained by constantly adapting to a changing world. When you’re a tiny pair of islands adrift in the Caribbean Sea, there’s a very much ‘sink or swim’ mentality to survival. The conception of the CBI option was a stroke of genius; the developments of it are masterful. Everything has been made as appealing as possible for investors looking for an intriguing new option.

Perhaps the most significant change and the one getting eyebrows raised worldwide is the introduction of the Public Benefit Option. Put simply, this is an option whereby persons can invest in specific projects on the islands that are intended to substantially benefit the people of St Kitts and Nevis. Anything that provides significant local employment is high up on the list of government wants.

These projects can be privately owned. The owner or entity must be approved as an Approved Public Benefactor. After approval is granted, persons seeking citizenship may invest a minimum of just US$175,000 towards the project. A savvy investor will recognize that one of the hospitality businesses for sale on Nevis is well suited to become an approved project under the Public Benefit Option: Serenity Cove, a collection of cottages tucked away on a hillside with glorious views towards the islands’ famous green-flash sunsets over the sparkling Caribbean Sea.

Or there’s the option to invest in developments for the State: everything from middle income homes to a new correctional facility are on the cards.

The creators of the new rules surrounding CBI have been smart. While opening up more and more options for people to come to the islands they’ve made it less appealing for there to be rapid turnovers of home ownership. More hoops need to be jumped through before houses can be sold to a new set of CBI investors; homes can’t just be broken down into individual apartments; there are, in some cases, extended waiting periods before properties can be put back on the market. These are all smart moves, designed to get people to the Caribbean and to choose to linger, putting investment into the community with local purchases and use of local tradespeople. It’s a simple equation: when you stay in a place for longer, you care about it more.

The government realized that people wanted to be able to buy homes outside of specific developments – and they wanted to live in them year-round, too. The introduction of the Private Home Sales Option during lockdown was extremely astute, and keeping it on beyond the intended initial date has resulted in new life being breathed into the islands. Those who love the quiet charm of St Kitts and Nevis need not worry: there is nothing to suggest that over-development is on the cards. Rather, there is a leaning towards a more constant, close-knit community with more jobs and more opportunities available for locals. This is how to make a country thrive, by focusing on individuals and ensuring their best interests are at the heart of government policy.

From 1st July 2023 onwards there will be increases to the sums payable for those looking to acquire citizenship through investment in the Sustainable Growth Fund so anybody considering that option would be wise to fast-forward their application. But consider this: for a relatively low additional investment, a private home is on the cards. Whether your idea of paradise is a condo on the beach in the heart of a friendly community or hidden away on the jungle-clad slopes of Mount Nevis, the owners of Nevis Style Realty together have decades of experience helping homeowners pick their perfect corner of the island.

Wayne Tyson
Nevis Style Realty
+1 869-469-1120
waynetyson@nevisstylerealty.com
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