St Kitts now requires only $200,000 investment in real estate, instead of $400,000. As of March 29, The Citizenship by Investment regulations have been amended under Amendment 2 (Section 5) of 2018, cutting the minimum investment for real estate by 50% encouraging foreign investors to invest in property market of St Kitts.
Importantly, the move is expected to further boost the real estate sector which will in turn give the much needed growth in economy.
According to CIU St Kitts and Nevis, The minimum real estate investment required by law is US$200,000 (resalable after 7 years) or US$400,000 (resalable after 5 years) for each main applicant.
Currently there are two investment ceiling for the St Kitts and Nevis CIP under real estate.
- $200,000 (must hold real estate for 7 years before resale)
- $400,000 ( must hold real estate for 5 years before resale)
As you can see the only difference is how many years you can hold the real estate before reselling.
Another difference is stamp duty is exempted, if jointly invested $200,000 each, contributing a minimum of $400,000 investment.
Investing jointly also allowed as per the CIP regulations (see below)
The St Kitts Government has also cut Government processing fees by 30% for real estate from $50,000 to $35,000 under the Citizenship by investment programme and new fees are below.
On approval in principle of an application made through a real estate investment, a Government fee applies, as follows:
- Main applicant: US$35,000
- Spouse of the main applicant: US$20,000
- Any other qualified dependent of the main applicant regardless of age: US$10,000
Real estate applications can also be launched through Accelerated Application Process (AAP) and citizenship decisions are given within 60 days, some times as early as 45 days. Note that this scheme is subjected to additional fee and some countries are not eligible.
Range developments has already completed five star Park Hyatts hotel, and now constructing 7 star Six senses hotel. Investing in these developments limited share or freehold, qualifies for St Kitts citizenship with passport. The Prime Minister of St Kitts and Nevis, said in 2018 Budget speech, the construction of Park Hyatt hotel has has raised the profile of our country as a premier tourist destination in a highly competitive global travel market.
Besides, these there are 90 approved real estate developments approved for Government qualifies family for citizenship in the twin island of St Christopher (St. Kitts) and Nevis. Kittitian Hill, Christophe Harbour, Four Seasons, Half Moon Bay, Koi resort, Ramada, Radisson are some of the notable property developments in the twin island of SKN.
The construction sector contributed to 16.3% to GDP of SKN over the period 2012-2016. In the first half of 2017,Construction grew by 8.8%, a direct result of the injection of a significant amount of resources to construct several multimillion dollar condo, villa and hotel developments.
The St Kitts Citizenship by Investment (CBI) Programme continues to be an important contributor to Non-Tax Revenue and contributes significantly to the buoyancy of construction and allied industries.
A complete list of property developments with images and developer websites is published here.
