The Government of St. Kitts and Nevis has just made his citizenship by investment program more attractive. In an effort to stay the world’s number one route to a second passport, the government has introduced important changes that will make the acquisition of St. Kitts citizenship more compelling for large families…
The Government of St. Kitts and Nevis has just made his citizenship by investment program more attractive. In a effort to stay the world’s number one route to a second passport, the government has introduced important changes that will make the acquisition of St. Kitts citizenship more compelling for large families. The age of dependent parents has been lowered to 55 and the age of dependent children has been raised to 30. For the Sugar Foundation option, the sliding scale has been simplified and the cost for additional dependents for families of more than 5 dependents has been halved to US$25,000.
Below are the two key extracts (on Dependents and Sugar Foundation) of the letter issued by Office of the Prime Minister of St. Kitts & Nevis – Citizenship by Investment Unit – on 28th Dec 2016.
I am pleased to advise that Cabinet has approved the following changes to the CBI program. The changes in policies and procedures are effective as January 01, 2017.
Dependents
The age of a parent to be treated as a dependent has been lowered from 65 to 55.
Children, not more than 30 years of age, who are in a dependency relationship with their parents will be considered dependents. This age limit has been increased from 25 and will apply, as examples, to individuals who are disabled, in tertiary institutions or dependent on parents for support.
The addition of dependents, born after citizenship is granted and under the age of 16, are to be processed through the Minister of National Security.
Sugar industry Diversification Contributions
Minimum contribution to the Sugar Industry Foundation to qualified persons:
Single applicant: US$250,000
Applicant with up to three dependents: US$300,000
Additional contribution for each additional dependent, regardless of age, will be US$25,000
Full letter from the Prime Minister’ Office: https://www.ciu.govt.kn/changes-to-the-cbi-program/
If you are interested in finding out more about the program and how it can benefit you, please do not hesitate to contact me on +447730929921 or pg@shorexcapital.com
