On 1 October 2024, the Citizenship by Investment Unit (CIU) of St. Kitts and Nevis stepped into a new chapter by becoming a statutory body.
Over the next 30 days, the CIU quickly positioned itself as a dynamic and effective organisation, marking 30 significant milestones that highlight its dedication to efficiency, transparency, and high-quality service.
FOUNDATION FOR IMPROVEMENT
These achievements strengthen the Unit’s mission to enhance the Citizenship by Investment (CBI) experience for all stakeholders while boosting economic growth in St. Kitts and Nevis.
STRENGTHENING THE TEAM AND OPTIMISING PROCESSES
The CIU’s Board of Governors has built a strong internal team and improved management and operational frameworks. In respect of processing, the unit is achieving a ten-week target for decision-making on applications due to the optimisation of the process.
Externally, Chairman Calvin St. Juste has begun a global tour to engage with Authorised Agents, International Marketing Agents, Promoters, media, and other stakeholders.
By driving essential regulatory advancements, the Chairman and Board aim to swiftly enact changes that maintain St. Kitts and Nevis’ leadership in the CBI Programme.
Chairman St. Juste expressed his enthusiasm about the flurry of activity during the initial 30 days, reaffirming his dedication to the Unit’s excellence.
“Our first 30 days as a statutory body have been a period of intense activity and rewarding achievements. Each initiative we’ve accomplished aims to create a seamless, efficient process for applicants and deliver exceptional service to stakeholders. We are committed to leading this Unit with innovation, responsiveness, and purpose to reflect the excellence St. Kitts and Nevis stands for,” he stated.
OPERATIONAL AND MANAGEMENT TRANSFORMATION AND TRANSPARENCY
Since restructuring, the Board of Governors has implemented effective changes. It has filled key roles with qualified individuals after reviewing 1,000 applications.
Shifting from reactive problem-solving to a proactive operational model, the CIU ensures optimal functionality. As a result, a C-Suite and the Office of the Chairman have been established to enhance governance of the Unit’s operations.
The Unit has streamlined procedures for a ten-week turnaround on CBI application decisions. Additionally, a Task Force has been formed to tackle the backlog of previous pending applications.
To improve customer service, the Unit now has a 24-hour response policy and a dedicated Communications Division for timely information distribution.
To stay ahead of the curve, the Unit will integrate advanced technology to monitor application processing.
Most importantly, the Unit is committed to improving performance, keeping the St. Kitts and Nevis CBI Programme competitive, leading to a surge in applications and increased revenue.
COMMUNICATION AND ENGAGEMENT WITH AAs AND PROMOTERS
While internal changes are vital, the Unit understands the importance of showcasing its strengths worldwide.
Authorised Agents, International Marketing Agents, and Promoters are crucial to the Unit’s transformation. In the first 30 days of this new phase, the Chairman has held meetings with these influential individuals in various locations.
He initiated an in-person “Meet and Greet” with Authorised Agents in St. Kitts, followed by a virtual gathering with International Marketing Agents and Promoters.
Demonstrating commitment to the global market, the Chairman has launched a worldwide roadshow, starting in the United Arab Emirates and China, to reaffirm the Unit’s dedication.
In Dubai, the Unit hosted an exclusive dinner for CBI agents, alongside private lunches and presentations in Beijing and Shanghai. A similar dinner occurred in Shenzhen.
The USA roadshow launched at the Annual Private Wealth Latin America & Caribbean Forum last week, with the global tour culminating at the Global Citizen Week in Miami, where the Chairman will speak and engage with industry.
Through numerous in-person meetings, the Unit has connected with around 500 industry professionals worldwide.
ENGAGEMENT WITH MEDIA AS GLOBAL LEADERS
The Chairman has participated in podcasts with leading Middle Eastern publications like Khaleej Times and Gulf News, showcasing support for various media platforms.
Emphasising the importance of the Chinese market, he has also been interviewed by key Chinese media outlets, including China Financial Times and Sina Media.
The Unit has gained attention for its achievements in its first month, especially St. Kitts and Nevis’ top ranking in the 2024 CBI Index.
REGULATORY CHANGES FOR GOOD GOVERNANCE
The Unit is committed to safeguarding the integrity of the CBI Programme. It has introduced amendments to its “First and Finest” CBI Programme, updating the CBI SRO (20) of 2024, in July.
These amendments further defined the role of the Technical Committee, which met for the first time in months. This committee ensures that only legitimate applicants receive alternative citizenship in St. Kitts and Nevis.
To strengthen the investments under the Programme, a new requirement mandates oversight of any Approved Development by chartered surveyors from the Royal Institute of Chartered Surveyors (RICS).
To keep the Programme competitive, the recent amendments to the CBI SRO (43) of 2024 in October, adjust the minimum investment amounts for real estate options. The minimum investment in an Approved Development is now reduced from US$400,000 to US$325,000.
Minimum investment for Approved Private Real Estate, whether a condominium unit or share, has been reduced from US$400,000 to US$325,000. The minimum investment for a single-family private home has also dropped from US$800,000 to US$600,000.
Emphasising a family-friendly approach, the Board of Governors has implemented a reduced fee of US$7,500 down from US$30,000 for post-citizenship registration of newborns.
Additionally, the minimum age for dependant parents has been lowered from 65 to 55 years.
COLLABORATING FOR SUSTAINABILITY
The Unit is working closely with the Government to align its operations with the Sustainable Island State Agenda, ensuring long-term environmental, economic, and social resilience for St. Kitts and Nevis.
To showcase its initiatives, the Unit has announced the 2025 Investment Gateway Summit, set for 31 May to 3 June 2025.
In line with the Chairman’s six guiding principles, the Board of Governors has embraced key values like transparency and communication.
With numerous achievements in the first 30 days, the revitalised CIU is poised for a stellar year, continuing the excellence of the 40-year-old CBI Programme.
