St. Kitts and Nevis tightens citizenship by investment rules under EU pressure

What's happened? The Saint Kitts and Nevis Citizenship by Investment Unit (CIU) issued a press release detailing the new terms of its program. We should recall that not long before that the European Commission insisted on tightening the rules for issuing citizenships for invesments.

New entry thresholds. The minimum donation to the Sustainable Growth Fund, which used to be $125,000 per applicant, will now require at least $250,000. For an applicant with a spouse, this amount increases to $300,000 (previously $150,000), for a family of up to four people - up to $350,000 (previously $170,000).
The real estate investment option now requires a minimum of $400,000. The approved public benefit projects investment option now requires $250,000.

What else? The innovations related to the introduction of a mandatory interview for all applicants immediately come into force. The interview can be done in person or through special professional companies. Similarly, the authorities of St. Kitts and Nevis have promised that they will instruct independent companies from the EU, UK and US to conduct due diligence on the applicants.
In addition, now the Certificate of Registration (the legal document proving citizenship) can only be collected in person: either in the Caribbean state itself, or at the designated diplomatic mission of St. Kitts and Nevis abroad.
What does it mean? Professionals in the field of international migration note that the corresponding step of St. Kitts and Nevis is aimed at maintaining a visa-free regime with the Schengen area, for which the country seeks to alleviate the fears of the EU. They also suggest that St. Kitts and Nevis has already agreed on innovations with other Caribbean countries. If so, other states in the zone may soon follow suit.

What does it mean? Professionals in the field of international migration note that the corresponding step of St. Kitts and Nevis is aimed at maintaining a visa-free regime with the Schengen area, for which the country seeks to soften the concerns of the EU. They also suggest that St. Kitts and Nevis has already agreed on innovations with other Caribbean countries. If so, other states in this region may follow the suit in the nearest future.

Source: IMI

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