The CEO of St Kitts and Nevis CBI unit Mr. Les Khan, has announced there will be no extension of Government Limited time discount offer beyond 2023. Currently the Government offers limited time discount (Lto) for all applications of USD 125,000 under SGF fund (instead of USD 150,000) from Feb 2023 to Jun 2023.
The Limited time discount has been running for more than a year since the start of pandemic. The limited time offer was previously announced by Prime Minister Timothy Harris, this special discount offer ran fromJuly 01 to Jan 15, 2020 due to Covid-19 situation. Another extension was approved due to Covid and heavy demand and popularity of the citizenship by investment program among families in the middle east.
We believe due to this announcement, there will be a huge last minute rush for applications to the SKN citizenship by investment program who want to take advantage of USD 25,000 savings..
Prices from Jan 1, 2023
Here are the important changes you need to be aware of…
Under the Limited Time Offer, investment options for Sustainable Growth Fund (SFG) are as follows:
Jan 1, 2023 to Jun 30, 2023
Single applicant – US$ 125,000
Main applicant and a spouse – US$150,000
Main applicant, spouse and two dependants – US$170,000
Each additional dependant under 18 – US$10,000
Each additional dependant over 18 – US$25,000
The minimum investment for approved real estate will remain at US$200,000. From Jul 1, 2023, the prices will revert back to the original SGF prices.
From July 1, 2023
Single applicant – US$ 150,000
Main applicant and a spouse – US$175,000
Main applicant, spouse and two dependants – US$195,000
Each additional dependant under 18 – US$10,000
Each additional dependant over 18 – US$25,000
- No changes to real estate minimum option of USD 200,000
- New CBI changes allow residential homes and villas bought above USD 400,000 eligible for citizenship.
- SKN citizenship is permanent and passports can be renewed after 10 years under CBI legislation
Beware of Fraudulent Offers
The SKN CBI Unit has issued a blacklist warning to agents not to provide any discounts to clients besides the government sanctioned discount. Agents caught misleading the potential client, by proposing one option and providing documentation for another may be subject to the sanctions noted above..
The Unit has warned investors not to invest in any fraudulent offers given by unauthorized agents that fall below the minimum investment of USD 150,000 (donation) and USD 200,000 (real estate), as it wont bring any real benefits to the development of country by admitting unaffordable applicants.
The fraud offers came into limelight in 2018, when agents were caught offering zero share option in real estate, providing vastly discounted prices, undercutting to minimum. In the same year, opposition leader warned he would revoke all passports obtained under fraudulent means, should he be elected to power.
We warn clients to beware of cheap offers, that are too good to be true. If in doubt please check the prices in CIU official website
