New Fund Launched By St. Kitts and Nevis
St. Kitts and Nevis was the first country to offer citizenship by investment program in 1984 opening the doors to other countries to also provide the same opportunities by making it easy for high-net worth individuals to travel for business and pleasure. A new fund was recently launched by St. Kitts and Nevis referred to as the Sustainable Growth Fund. The main purpose of the fund is to boost investment for prospering countries of the Caribbean.
The citizenship by investment program by St. Kitts and Nevis is often considered the gold standard and the front-runner in the industry. The program is known for its strict vetting procedures. The Sustainable Growth Fund is more affordable than any of the previous funds put forth by the government.
The cost to join the fund for a single applicant is USD 150,000 and for a family of four is at USD 195,000. Dr. Timothy Harris the Honorable Prime Minister of St. Kitts and Nevis made a statement to say that the fund will benefit every resident and citizen of the nation because it has an attractive and sustainable pricing. He went on to further discuss the mobility benefits and second citizenship that can be gained through the new program.
St. Kitts and Nevis signed a historic visa waiver agreement recently with countries such as Russia, Indonesia and India. This allows citizens of the nation to be eligible to travel to more than 140 countries visa free including the United Kingdom, the Netherlands and Italy.
The government believes that the new fund is an attractive option for new applicants. The fund not only focuses on sustaining development for the country but also giving back something to the citizens. It functions to enhance the quality of life for residents and citizens living on the Islands.
The new fund will contribute towards education, healthcare, tourism, infrastructure, culture and alternative energy. The fund was put into operation from the 2nd of April, 2018.