Last Updated on February 9, 2023, 9:52 AM AST by Anthony Morris
The head of the citizenship by investment unit of St Kitts and Nevis – Michael Martin, participated in a special webinar aimed at discussing the importance of the twin-island Federation’s CBI programme and the recently announced limited time offer under the sustainable growth fund for high net worth individuals (HNWIs) worldwide.
In the webinar, CEO Martin discussed the bold and robust strategy to lure more individuals into becoming part of St Kitts and Nevis’s evolving and vibrant economy. He said that the limited-time offer and unique offer applicable to the Sustainable Growth Fund option is a bold move and would help maintain the platinum standard of the CBI programme.
Furthermore, the introduction of the Limited Time Offer has helped to add a new level of integrity to the programme, enabling it to speed up the nation’s efforts to expand the economy, empower the people, and provide a rich base for investors, added the CEO.
He highlighted that the government of the Federation is working diligently to make sure that in spite of the Limited Time Offer, the CBI programme remains the safe and topmost choice of investors. He also outlined the multi-layered due diligence process carried out on investors to ensure their credibility.
Also, Michael Martin stressed that the government is taking concrete steps to update and boost a few parts of the citizenship by investment programme to ensure that it continues to meet the requirements of a smart investor looking for a good location for their family as well as business.
He added that the applications which would be submitted under the LTO could get the benefit of the reduced amount of investment payable by investors. Under the offer, the investors are no longer required to pay an additional amount for the APP to shorten their processing time from 90 days to 60 days, as it would be done at no additional cost. The offer will also provide the investor with a fasten and swift process.
The Citizenship by Investment Unit of St Kitts and Nevis has announced the Limited Time Offer under the sustainable growth fund from January 1, 2023, to June 30, 2023, in which the prices have been reduced as follows:
· US$125,000 – Main applicant
· US$150,000 – Main applicant & spouse
· US$170,000 – Main applicant, spouse & two dependants
· US$10,000 – Each additional dependant under 18 years
· US$25,000 – Each additional dependant over 18 years
Michael Martin added that this programme would benefit the investors in several ways as it will provide global mobility and higher business opportunities as well as they will enjoy the nation’s stability and safe lifestyle.
Moreover, he highlighted that the funds which would be raised from SGF, aka fund option, would benefit not only international investors but also the local industry; it would produce hard capital inflows. These funds allowed the nation to survive in a period of global uncertainty.
He added that the raised funds are further utilised to construct better schools and infrastructure, run educational-related activities, and develop the infrastructure to reduce the effects of climate change.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
