St. Kitts And Nevis Decreases Government Fees

• Posted on Feb 16, 2018
• In Industry News, St. Kitts & Nevis

St. Kitts and Nevis officials reduced government fees via the real estate investment option to US$75,000 for a family of four.

In response to competing demands in the St. Kitts and Nevis Citizenship by Investment Program, and in an overall initiative to support real estate developers in the federation, St. Kitts & Nevis officials reduced government fees via the real estate investment option to US$75,000 for a family of four.

The amended regulations allowed for a reduction in fees as follows:

• US$ 35,000 for the main applicant (down from US$ 50,047)
• US$ 20,000 for the spouse (down from US$ 25,047)
• US$ 10,000 for any dependent, regardless of age (from US$ 50,047)

Applicants that qualify for citizenship through an investment in a pre-approved real estate project, are still subject to a minimum investment of US$400,000 required by law for each main applicant. Additionally, processing fees for due diligence background checks remain at US$7,500.00 for the main applicant, and US$4,000 for each dependent.

These recent changes in government fees were in response to the persuasive case made by the developers who represent a wide cross section of participants in the real estate market and have the best interest of the country at heart. Although their fees remain above the threshold of other CBI jurisdictions, Prime Minister- the Honorable Dr. Timothy Harris, stated that they are “determined to maintain the platinum brand that St. Kitts and Nevis has become known for, while still assuring its competitive edge”. As one of the longest-established programs of its kind, Arton believes that this two-island nation offers a host of unique opportunities and benefits for investors.

Please note, Arton’s Dubai Office is now accepting credit cards as an alternative method of payment for fees. All major credit cards are accepted.