St Kitts & Nevis Lowers Real Estate Investment Thresholds Amid Other Changes

Saint Kitts & Nevis has reduced the minimum investment requirements for its Citizenship by Investment Program (CIP) real estate option, now offering condominiums and development shares at US$325,000, down from US$400,000.

The government announced the changes through Statutory Rules and Orders No. 43 of 2024 on October 25, which also reduced the investment threshold for single-family private homes to US$600,000 from US$800,000.

These adjustments follow the country’s reduction of its contribution option to US$250,000 in July, and align Saint Kitts & Nevis’ pricing with other Caribbean jurisdictions.

These adjustments come less than two weeks after Prime Minister Terrance Drew revealed the program's revenue had plunged 60% to EC$218 million through September 2024, following "rushed" reforms the government implemented to preserve EU and UK visa-free access.

The government has expanded eligibility for dependent parents by lowering the minimum age requirement to 55 years from 65 years.

Citizens who have already secured their passports through the program must now pay US$7,500 to add newborn dependents under three years old, marking a US$2,500 reduction from the previous fee (US$10,000).

Saint Kitts & Nevis has also restructured its CIP oversight mechanism.

The technical committee now includes the Permanent Secretary for National Security, two civil servants appointed by the Minister, the CIU's Chief Executive Officer, and a Board of Governors representative.

This reorganization follows former CEO Michael Martin's resignation in September.

PM Drew signed the new regulations, which take immediate effect.