St Kitts and Nevis Citizenship by Investment Program (CBI) is the oldest and trusted program established since 1984.
According to the IMF 2017 report., St Kitts and Nevis CBI inflows has hit ECD $1.9 billion from 2011 to 2016.
The total non-tax revenue includes CBI budgetary receipts , SIDF investment and other fees received under CBI program. Projected revenues are not taken into consideration for CBI revenues which is from 2017.
| Year | CBI Non Tax Revenue (millions) |
| 2011 | 241.9 |
| 2012 | 246.3 |
| 2013 | 391.3 |
| 2014 | 414.4 |
| 2015 | 379.8 |
| 2016 | 266.4 |
| Total | 1.94 billion |
On Nov 22, 2014 Canada imposed visa restrictions on St Kitts and Nevis citizens, which led to fall in CBI revenues from 2014 onwards.
The further decline in further revenues, is attributed to the high costs in the region and competition in the region.
In 2017, after the Hurricane season, St Kitts became the first country to cut CIP prices by introducing a special Hurricane Relief Fund scheme for 6 months expired April 2018. The Government announced more than 1200 HRF applications received under the scheme.
Prime Minister and Minister of Finance Timothy Harris revealed in 2017 that audits showed since its inception, up to the year 2014, the SIDF had received just about EC$1.5 billion dollars in citizenship “contributions”.
In April 2018, Sustainable Growth Fund was introduced with US$150K investment contribution option and Real estate prices were cut to $200K from $400K to boost real estate sector.
The below IMF graph shows real estate investments and CBI fees through it has hit historic high from 2012 to 2014 and after 2016 it is declining. Further the graph reveals, the total deposits hit close to EC$200 million in 2016 and accounted to 39% of GDP.
Fortune reported in 2016 that St Kitts and Nevis has a significant share in $2 billion market for passports. St. Kitts and Nevis slashed its “debt from 164 per cent of GDP in 2010 to 104 per cent of GDP at the end of 2013″ and CBI scheme accounted for at least 25% of GDP.
The IMF also reported growth is expected about the future CBI inflows..
- The St Kitts and Nevis economy grew at 3.2 percent in 2016, compared to 4.9 percent in 2015
- Growth is expected to average around 3 percent in the medium term under the current policies and conservative assumptions about future CBI flows.
