This morning, Mr. Les Khan, the CEO of St Kitts and Nevis’ Citizenship by Investment Unit, took the podium before an audience of agents, media representatives, financial advisors, and other London based experts to discuss the nation’s newly re calibrated Citizenship by Investment Programme.
Speaking at Fortnum and Mason’s after an introduction by Ms Micha Emmett, CEO of CS Global Partners, Mr. Khan pinpointed the vast developments pushed forward by St Kitts and Nevis’ new administration, outlining brand changes, policy transformations, and future strategies.
The Unit, said Mr. Khan, is a solution provider, seeking at all times to improve the citizenship application procedure. Among the changes inaugurated in the New Year is the Unit’s official website, boasting a calculator clarifying applicable costs. Other adjustments, such as decreasing the age threshold of dependant parents and grandparents from 65 to 55 years, and increasing the age
threshold for dependent children from 25 to 30, were characterized as a move to make St Kitts and Nevis attractive to families. These adjustments come amidst fee reforms that also favor families. When choosing the SIDF route – an option allowing investors to make a one-time contribution to St Kitts and Nevis – families of four now only need pay US$300,000, irrespective of the age of the family members included in the application. Even more significantly, any additional family member can be included for an extra US$25,000, regardless of whether that family member is a child or an adult. The SIDF, a charity established in 2006, redirects funds to areas of need and sectors that can benefit from Government funding.
Families in St Kitts and Nevis can look forward to a jurisdiction with a stable democracy and strong institutions. Its education system is particularly robust, with universities accredited abroad. Medical universities in particular are especially successful, despite charging one-fifth of the price charged by equivalent universities in the United States.
Mr. Khan also highlighted that St Kitts and Nevis is currently the only Caribbean island-nation offering an expedited process, guaranteeing successful applicants a new passport within 60 days of submitting their application. The expedited regime comes at an additional fee of US$25,000 for the main applicant, and US$20,000 for any other dependant who requires the fast issuance of documents.
Most importantly, Mr. Khan delved in the due diligence procedures implemented in St Kitts and Nevis.Not only are international providers and partners used to thoroughly check applicant backgrounds, but service providers themselves must perform internal know-your-client (KYC) checks, which they have a duty to submit to the Unit starting 1 February 2017.
Mr. Khan concluded his morning briefing by noting that quality of nationality is key to the Programmeand to the people of St Kitts and Nevis. Citizenship, and the regulation of citizenship, is a sovereign right, and it is St Kitts and Nevis’ priority to ensure that only legitimate clients are approved under its Programme.
He said: “We are proud that we have transformed our Citizenship by Investment Programme making it a world leader for its integrity and quality. Our programme offers the applicant not just a passport but a way of life in one of the most beautiful and stable countries in the world. We’re delighted to showcase this and to extend an invitation to applicants who want an enriched quality of life for themselves and their family.”
Today’s event was the first in a series of conferences and symposia that Mr Khan will be attending this year, and CS Global Partners is proud to be at his side to promote one of the best citizenship by investment programmes in the world.