NEW DEVELOPMENTS IN THE CITIZENSHIP BY INVESTMENT PROGRAMS (CIP) IN THE CARIBBEAN

At CCS we take pleasure in keeping our clients informed about the latest industry news and events. We provide some snippets below that you may find interesting and keep you current with the Citizenship by Investment Programs in the Caribbean.

WHAT’S NEW

___________________

ST. KITTS AND NEVIS NEW DONATION OPTION – SUSTAINABLE GROWTH FUND (SGF)

On 2^nd April 2018, the Government of Saint Kitts and Nevis announced that the Citizenship by Investment Unit will be offering a new donation option known as the Sustainable Growth Fund. This option is effective immediately. The new donation amounts under this option are as follows:

US $150,000 – Single Applicant
US $25,000 – Qualified Spouse of the Main Applicant
US $10,000 – Each Qualified Additional Dependent
All current due diligence and application processing fees remain the same

BREAKING NEWS – ANTIGUA AND BARBUDA REDUCES ITS CITIZENSHIP BY INVESTMENT DONATION BY 50%

The Government of Antigua and Barbuda has announced a reduction of fifty per cent (50%) in the donation amount that applicants for citizenship are required to make under the National Development Fund. Citizenship Caribbean Services Ltd has been reliably informed that the new donation amounts are only:

– US$100,000 – for a family of up to 4 persons

– US$125,000 – for a family of 5 or more persons.

Barbuda, the sister island of Antigua was devastated by Hurricane Irma in September 2017 which has required the evacuation to Antigua of all persons living on the island. This reduction in the donation amount for citizenship is to raise much needed funds to rebuild Barbuda.

Antigua and Barbuda now offers the cheapest donation option in all the five countries in the Caribbean that offer Citizenship by Investment Programs, namely, Saint Kitts and Nevis, the Commonwealth of Dominica, Saint Lucia, Grenada and Antigua and Barbuda. The effective date for implementation of the new donation amount is expected to be in the next month as the legal requirements are currently being finalized.

Citizenship Caribbean Services Ltd is duly authorized by the Government of Antigua and Barbuda in respect of its Citizenship by Investment Program.

ST. KITTS AND NEVIS NEW DONATION OPTION – HURRICANE RELIEF FUND (HRF)

On 25^th September 2017, the Government of Saint Kitts and Nevis announced that the Citizenship by Investment Unit will be offering a new limited time donation option known as the Hurricane Relief Fund. This option is effective immediately and will be available until March 30th, 2018. The new donation amounts under this option are as follows:

US $150,000 – Single Applicant
US $150,000 – Family of up to Four Persons Including Main Applicant
US $25,000 – Each Qualified Additional Dependent
All current due diligence and application processing fees remain the same

ANTIGUA AND BARBUDA NOW ACCEPTING APPLICATIONS FROM IRANIANS

On 22^nd January 2016, the Government of Antigua and Barbuda announced that the Citizenship by Investment Unit will be accepting applications from Iranians on the following conditions, that applicants have:

Legally resided in a country outside of Iran for a period of one year immediately preceding the application for citizenship of Antigua and Barbuda;
No involvement in activities sanctioned by the United Nations; and
Evidence to show that the source of their funds is outside the jurisdiction of Iran.

This announcement effectively lifts the ban imposed on 11 December 2014, which prohibited most Iranians from participating in the Antigua and Barbuda Citizenship by Investment Program. Only Iranians who were able to provide proof that they were lawful permanent residents of Canada, the United States of America or the United Kingdom were allowed since the imposition of the ban to submit applications for citizenship.

ANTIGUA AND BARBUDA CITIZENSHIP CAN NOW BE PASSED ON FROM INVESTOR TO SPOUSE AND CHILDREN

The Citizenship by Investment Unit has in January 2016 announced that the holder of an Antigua and Barbuda Passport obtained through the Citizenship by Investment Program can pass on citizenship to his or her spouse and children without any cost. Before this can be realized, it is incumbent upon the holder of the passport to conduct himself or herself in a fit and proper manner such as not engaging in criminal activity and adhering to the laws of the country and any conditionalities placed on his citizenship. While an initial passport is issued upon the grant of citizenship by investment for a period of five years, subsequent passports will be issued for a ten-year term and the holder of the passport will be conferred with full citizenship rights at the end of the 5-year period. With full citizenship rights bestowed on the passport holder, he or she can then apply for citizenship for his or her spouse and children free of charge.

ST. KITTS AND NEVIS CONTINUES TO REFRAME ITS CITIZENSHIP BY INVESTMENT PROGRAM

The Government continues to implement various measures aimed at reframing and enhancing the Program towards ensuring international acceptance. This has included legislative amendments, recruitment of additional staff and policy changes. The Government is working assiduously towards regaining visa free travel status to Canada. The Prime Minister of Canada Hon. Justin Trudeau visited the St. Kitts and Nevis in December 2015 on a private visit with his family. This has given rise to some expectation that diplomatic discussions around the issue, which has been ongoing will hopefully culminate in the not too distant future with St. Kitts and Nevis nationals once again having the privilege of travelling to Canada visa free.

THE GOVERNMENT OF ST. LUCIA LAUNCHES ITS CITIZENSHIP BY INVESTMENT PROGRAM

St. Lucia on the 29 December 2015 launched its Citizenship by Investment Program, which makes it the fifth such program to be established in the Eastern Caribbean. The tag line for the program is: “St. Lucia Simply Good”.