- December 26, 2017
- Posted by: CIP Journal
- Category: Citizenship
The Government of St Kitts and Nevis, announced the Hurricane Relief Fund in Sep 2017, as a new contribution option to obtain St Kitts and Nevis Citizenship under the citizenship by investment scheme.
The Citizenship by Investment Unit has launched the Hurricane Relief Fund (HRF) Investment Contribution to assist the Government with repairsto publicinfrastruc- tureand private property damaged during the 2017 Hurricane season.
The Hurricane Relief Fund (HRF) is open only for 6 months and set to close by 30, March, 2018.
The St Kitts and Nevis Citizenship by investment programme, is regarded as the “Platinum” standard of the CBI programs in the Caribbean. Those who are interested in St Kitts Citizenship by Investment, are urged to apply for HRF scheme during the opening window, after the scheme closes, the price will increase to USD 250,000 .
Prime Minister, Dr the Honourable Timothy Harris said:
“The Hurricane Relief Fund is an attractive option for citizenship applicants in the way it fulfils their own desire to make a positive impact on the environment in which they are seeking to play an active part.”
The HRF (Hurricane Relief Fund) requires USD 150,000, instead of USD 250,000 (SIDF) to obtain citizenship in the Federation of St Kitts and Nevis.
- Single applicant: a non-refundable contribution of US$150,000 is required
- Main applicant with up to three dependents ( main applicant, a spouse and two children): a non-refundable contribution of US$150,000 is required
- Additional dependents, regardless of Age: US$25,000
There is Accelerated Application Process (AAP) approved by the Government of St. Kitts and Nevis in October 2016 allows applications with the Citizenship by Investment Program to be accelerated to a 60 day processing period. This process is subjected to $25,000 additional fees and there are some country restrictions such as Iraq, Yemen, Nigeria.
New Citizens of St Kitts and Nevis, can enjoy visa free access to 154 countries in the world. St Kitts and Nevis Government recently signed visa waiver agreements with Taiwan and Russia, increasing the passport value and making it a more desirable second passport in the Caribbean. All citizens of the Federation are entitled to St Christopher (St.Kitts) and Nevis Passport.
Since 2015, St. Kitts and Nevis entered into formal diplomatic relations with 21 countries, namely, Armenia, Belarus, Bolivia, Brunei, Croatia, Cyprus, Ethiopia, Kenya, Kosovo, Laos, Mauritius, Moldova, Mongolia, Qatar, Saudi Arabia, Senegal, the Dominican Republic, the Gambia, the Maldives, the Marshall Islands and Turkmenistan, according to Government.
St. Kitts and Nevis’ CBI programme recently received top scores for its comprehensive due diligence procedures in the latest CBI Index which was conducted by Professional Wealth Management (PWM), a publication of the Financial Times.
Funds raised via this third investment option (HRF) will help foot the over $150 million bill which the Government of St. Kitts and Nevis faces to rehabilitate key public infrastructure, which suffered damage during the passage of the two category 5 hurricanes, Irma and Maria [Source: CIU St Kitts and Nevis].
Les Khan, CEO of St Kitts and Nevis CIU said in a press release
As you would expect, payments from or to any other country will be handled on a case by case basis and acceptance of such transactions are determined by the results of the due diligence performed in accordance with international conventions, including observing the OFAC Sanctioned List. We are very much open therefore to doing business with a host of countries which do not feature on that list. ” Cuba, Iran, North Korea, Burma/Myanmar and Sudan are on OFAC sanction list