Saint Kitts and Nevis, a trailblazer in the field, was the first country to introduce a citizenship-by-investment program in 1984. This unique initiative, which they are committed to maintaining, offers a pathway to citizenship in the Caribbean paradise nation. Understanding their ongoing efforts to protect their citizens' rights is crucial for potential applicants and investors. 

Since its inception, the Kittian passport scheme has faced a barrage of challenges, a testament to the need for robust protection. The international community, at times, has used the threat of revoking visa-free entry to pressure the dual-island nation, underscoring the gravity of the situation.

The scheme's problem is always the same. According to reviewers or critics, applicants with shady pasts or presents can obtain passports because proper due diligence processes are necessary. Conducting appropriate due diligence tests on the applicants is very hard because this process can cost up to 20,000 USD and several months. Moreover, there are so many applicants that in-depth research would take several months. One of the main advantages of the Caribbean passport programs is the fast processing, usually 2-4 months.  

Last year, the US compelled four of the five Caribbean countries with citizenship programs to accept a mutual agreement on their schemes. The 'Pan-Caribbean Memorandum of Agreement' introduced a floor price of 200,000 USD and established a mutual structure, a testament to the commitment to safeguarding the programs and ensuring due diligence.

 

In June 2024, the government announced their plan to open a special Citizenship by Investment Unit in Europe to support the due diligence processes. Saint Kitts and Nevis accept and apply all international standards to safeguard citizenship through an investment program. 

The new law amendment is paving the way for the establishment of the CIU (Citizenship by Investment Unit) as a corporate body. This change supports the government's commitment to continuously employ new measures to strengthen the Federation's Citizenship by Investment (CBI) Programme in line with best international practices. Establishing the CIU as a statutory corporation also aligns with one of the recommendations made by the FATF (Financial Action Task Force) and the OECD (Organisation for Economic Co-Operation and Development) (OECD) outlined in their recent joint report on investment migration.

Why is securing the due diligence processes in Saint Kitts so important?

Because you can become a citizen of Saint Kitts and Nevis in only four months, and

• it is enough to donate 250,000 USD to become a citizen or buy real estate for 400,000 USD
• you can become a citizen without visiting the country
• you enjoy visa-free entry to 153 countries including the UK, EU and passport holders can easily apply for a long term US visa.

Do you want to become a citizen of Saint Kitts and Nevis and enjoy all the rights given to the passport holders since 1984? We have more than three decades of experience with the Caribbean passport programs. Ask here for a consultation.

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