The St. Kitts and Nevis Government Reaffirms the High Integrity of the Citizenship by Investment Programme
BASSETERRE, Saint Kitts and Nevis, November 29, 2018 /PRNewswire/ --
The Government of St. Kitts and Nevis received information concerning alleged misrepresentation of the Programme by certain parties advertising investment requirements significantly lower than those approved by the Government. The Government takes this very seriously and has never permitted or endorsed any such activities.
The St. Kitts and Nevis Government takes this opportunity to clarify that the following minimum investment levels apply for a single applicant, with no exception:
- US$150,000 for the Sustainable Growth Fund (SGF);
- US$200,000 for a joint investment in real estate;
- US$400,000 for an investment in real estate, and
- US$250,000 for the Sugar Industry Diversification Foundation (SIDF).
We Do Not Accept Any Applications with Investments Below the Legal Threshold.
Not only has Government never authorised any acts of Programme misrepresentation, but, quite on the contrary, the Government has taken active steps to eradicate them. Two entities were recently identified as being in breach of Programme guidelines. The Citizenship by Investment Unit (CIU) has listed them as entities not authorised to submit an application for Citizenship by Investment on their behalf or on behalf of any other person on the official website.
With respect to applicants, a person does not qualify for citizenship unless he or she has made the appropriate investment. A person wishing to apply via the real estate option must provide the corresponding purchase and sale agreement, which must be in keeping with Regulations thresholds. Any person found to have fraudulently claimed to have submitted the full payment will not be approved for citizenship.
The Government of St. Kitts and Nevis reiterates its commitment to upholding the integrity and legitimacy of St. Kitts and Nevis' Citizenship by Investment Programme and continues to take disciplinary action against anyone who breaches the laws, regulations, and policies governing the Programme by acts of misrepresentation.
The Government would also like to address allegations that an Authorised Agent received a letter purporting to be from the CIU authorising an application for citizenship by investment via the real estate option for US$150,000, a value below that required under the Programme. This letter was never sent by the CIU.
The Government is currently carrying out further investigations into the matter and will take appropriate measures. The Unit would like to thank those who have brought this to its attention and encourages anyone possessing any indication of wrongdoing in relation to the Programme to inform the Unit immediately. The Unit is committed to ensuring that this type of activity does not occur and is devoted to providing all Authorised Agents with a level playing field.
The St. Kitts and Nevis Citizenship by Investment Programme is the world's longest-serving and most prestigious programme to offer citizenship in exchange for an investment in the country's economy. All investment routes through the Programme are designed to bring further socio-economic prosperity to the Federation, to the benefit of all citizens of St. Kitts and Nevis.
In addition to delivering quality and integrity in our programme, we will continue to innovate so that we retain our enviable position both as the originator of Citizenship by Investment and as the respected market leader in this field.
SOURCE Government of St Kitts and Nevis
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