The Citizenship by Investment Unit (CIU) of St. Kitts and Nevis has announced important modifications to its CBI Programme, particularly affecting the nation’s real estate investment options. These modifications are anticipated to boost interest in St. Kitts and Nevis, thereby contributing to the Federation’s economic development.
New Regulations
The new regulations introduced in October have adjusted the minimum investment threshold for real estate in an Approved Development, lowering it from US$400,000 to US$325,000. The minimum investment for a single-family private residence has been reduced from US$800,000 to US$600,000.
These adjustments followed discussions with both local and international stakeholders, reflecting the Federation’s commitment to evolving the Programme to meet market demands and stimulate economic progress.
Additional significant changes include lowering the eligible age for dependent parents from 65 to 55 and reducing the fees for adding newborn children from $30,000 to $7,500.
Technical Committee Enhancements
The Technical Committee, tasked with upholding the highest standards of governance for the CBI Programme, has been further enhanced. It will now consist of five industry experts from both the government and CIU, all dedicated to ensuring the Programme’s integrity and sustainability.
These updates are expected to increase interest in the Federation’s real estate CBI offerings, which have a strong history of generating employment and attracting considerable investment to St. Kitts and Nevis. Furthermore, the adjustments are likely to enhance the competitiveness of the CBI Programme in the global landscape.
Leadership in Changes
A key influence in implementing these changes was the Board of Governors of the CIU, led by Chairman His Excellency Calvin St. Juste.
Regarding the decision to lower the investment threshold in real estate, St. Juste stated,
“We have been leading the industry by crafting the sustainable model and fulfilling the standards set out by the international community. The modifications in the investment amount have been taken to align with market realities while preserving the premier brand of St. Kitts and Nevis and positioning it as the first choice for investors.”
Commitment to Standards
St. Juste further emphasised that these modifications uphold the standards established by the St. Kitts and Nevis CBI Programme over the last forty years, ensuring that the Programme’s evolution supports the Sustainable Island State Agenda.
These encouraging changes follow the formation of the statutory corporation on 1 October 2024 and an international tour covering the Middle East and Asia, showcasing CIU’s commitment to revitalising the Programme under the guidance of its new Chairman, Mr. Calvin St. Juste, and the Board of Governors.
