Saturday, November 9, 2024

St Kitts has the biggest sovereign citizenship fund in the World

The twin island of St Christopher (St Kitts) and Nevis, which is the birthplace of citizenship by investment industry in 1983 has the biggest sovereign citizenship fund in the world, closely followed by Malta.

 

A Sovereign citizenship fund (SCF) is a model of sovereign wealth fund generated from the revenue of citizenship by investment schemes.  We have coined the world ‘citizenship fund’ because the revenues are generated from citizenship contributions, fees and other costs. The pot of funds are used for social, economic development of the country, building homes, schools and especially disaster management.

 

CBI programs have donation to public fund and making one time contribution to this sovereign fund qualifies foreign investors for citizenship. About 90% of the applications are known to pursue this donation route and only 10% invest in real estate or business projects.

 

The other common way of raising funds from public by governments is through the issue of government securities or bonds. After usually five years the entire funds are paid back to public with specific interest rates. The only difference with sovereign fund is the money is not paid back.

 

We will list some of the sovereign citizenship funds from CBI revenues

 

CBI Country Sovereign Citizenship Fund Contribution (onwards) Fund Revenues*
St Kitts and Nevis Sugar Industry Diversification Fund (SIDF)

Hurricane Relief Fund (HRF)

Sustainable Growth Fund (SGF)

USD 250,000

USD 150,000

USD 150,000

USD 630 million

USD 180 million (from 1200 applications)

No figures available

Dominica Economic Diversification Fund (EDF) USD 100,000 No figures available
Grenada National Transformation Fund (NTF) USD 150,000 USD 65 million
Vanuatu DSP/Contribution Fund USD 150,000 USD 64 million (VT 7.1 billion  cbi revenues). No other figures available
Antigua and Barbuda National Development Fund (NDF)

UWI Fund

USD 100,000

USD 150,000

USD 110 million (from 1112 CBI applications)

No figures

Malta National Development and Social Fund (NDSF) EUR 650,000 EUR 624 million (from 961 approved IIP applications)
Cyprus No such fund exists
Moldova Public Sustainable Development Fund (PSDF) EUR 100,000 EUR 500 million (projected from 5000 applications)
Montenegro Grant Fund to be announed EUR 100,000  EUR 200 million (projected from 2000 applications)

* Approximate unofficial figures

 

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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