In what is considered a testament to the developmental benefits of citizenship and long-term residency investment programs, the government of St. Kitts and Nevis recently announced that a total of 900 families have so far benefitted from the Hurricane Relief Fund, which was launched by Prime Minister Timothy Harris earlier this year. The families were fortunate to benefit from a cash injection worth USD 11.5m to restore their homes, which had been destroyed during hurricanes Irma and Maria that struck the dual-island nation in 2017.
These much-needed funds came from the country’s popular citizenship by investment (CBI) programme – a concept introduced to the world by St. Kitts and Nevis in 1984 through which investors can obtain lifelong citizenship provided they make a significant investment in the nation’s economy.
The Hurricane Relief Fund was established as a 6-month initiative that proved extremely popular among investors wishing to support the residents of St. Kitts and Nevis during a particularly challenging hurricane season. The fund garnered significant interest by investors around the globe given its high value proposition and the fact that it is earmarked to support a very worthy cause.
Bluemina was a key contributor to this remarkable success, as the company processed more than 10% of the total applications to St. Kitts and Nevis’ CBI programme, culminating in one of the highest collective contributions to the Hurricane Relief Fund.
The global success of the Hurricane Relief Fund has resulted in the creation of the Sustainable Growth Fund (SGF), which was also conceived to facilitate sustainable development in the country, focusing on education, tourism and entrepreneurship. This programme continues to be a favourite among investors, as it offers a faster and more affordable route to a St. Kitts and Nevis citizenship, requiring an investment as little as USD 150,000 per applicant.
According to the CBI Index — an independent study published by the Financial Times’ Professional Wealth Management — St. Kitts and Nevis citizenship by investment programme constitutes the “platinum standard” for the industry, ranking first globally with regards to ease of processing, convenient travel and residence requirements, and due diligence.
Commonly referred to as the Federation of Saint Christopher and Nevis, St. Kitts and Nevis is one of the fastest-growing nations in in the West Indies. St. Kitts, the larger of the two islands, is a bustling urban destination with a vibrant economy, while Nevis exudes a subtle organic charm with popular with outdoor enthusiasts.
The dual-island nation has become a favourite among those seeking a second citizenship given the plethora of benefits it offers, including a stable and growing economy, a wide array of tax advantages, and visa-free travel to more than 100 countries including Hong Kong and Schengen nations. Meanwhile, the government of St. Kitts and Nevis has placed fairly reasonable requirements for its CBI programme, particularly when compared to other nations in the region.