LONDON – 01-22-2019 (PRDistribution.com) — Under St Kitts and Nevis’ Citizenship by Investment (CBI) Programme, the Sustainable Growth Fund (SGF) offers a wealth of advantages to second citizens. Alongside the benefits to be gained as an investor, residents are profiting from industry growth and increased employment opportunities stimulated by SGF investment.
Over the past few weeks, the citizens of St Kitts and Nevis have received exciting news of growth and opportunity. From the employment of local citizens on national development projects to infrastructure construction and various jobs it brings, residents are reaping the rewards from continued investment into St Kitts and Nevis’ economy. A large source of this investment comes from the SGF, St Kitts and Nevis’ CBI investment fund option. In choosing the fund and empowering their fellow citizens, CBI applicants invest in not only their futures, but those of their children and future generations. When considered alongside the other myriad benefits of the SGF, it is no wonder the fund has garnered international interest from investors.
Last year, St Kitts and Nevis’ Citizenship by Investment Unit (CIU), the body that oversees the CBI Programme, evaluated the needs and desires of applicants. Speed, protection of one’s reputation, flexibility, and engagement with the community were found to be applicants’ top priorities. This led to the birth of the SGF: the fastest, most reliable, applicant-friendly CBI investment option. The response to this tailored approach so far has been overwhelming. Authorised agent CS Global Partners reported that, in 2019, applications to the Programme were greater than the those over the last four years combined. When the fund’s various advantages are considered, this is unsurprising.
The SGF is simple: just one payment is required with no subsequent financial or physical obligations. As a result, processing time is fast. Following the date of submission, all investors receive the outcome of their application in three months or under. Many applicants are approved in less time, for instance, within eight to ten weeks. If an even faster service is desired, the Programme offers an Accelerated Application Process (AAP), where the total time is 60 days or under. St Kitts and Nevis is the only country in the world to offer such a service. This itself is evidence of its commitment to clients.
Applicants’ personal and business reputations are of the upmost importance, particularly as the world becomes increasingly news-driven. Applicants need to know the programme they select not only has a thorough due diligence programme, which will prevent persons seeking to abuse the system, but that it has the knowledge and expertise to react to industry developments and ensure confidentiality of their personal information. St Kitts and Nevis’ due diligence programme is known for its rigorous and robust procedures, and has been praised by international due diligence experts. For example, Heyrick Bond Gunning, CEO of global due diligence firm S-RM, has said the due diligence procedures undertaken by the Caribbean jurisdictions such as St Kitts and Nevis “should […] be a staple of all CBI programmes that aspire to success.” Additionally, as the longest-standing programme worldwide, the Programme – and therefore the SGF – is built upon decades of experience. If any jurisdiction has the knowledge and ability to respond to industry changes and protect applicants’ interests, it is St Kitts and Nevis.
As well as extending the number of investment options available to applicants, the SGF provides flexibility regarding the application process. All applications for Kittitian and Nevisian second citizenship, no matter the investment option, must be sent via an authorised agent or service provider. The authorised agent helps the applicant complete the process and comply with the required criteria. Under the SGF, investors may select any authorised entity they wish. For example, they can select one in the location most convenient for them. A full list of authorised persons can be found here.
Engaging with their future, adoptive communities is becoming a greater priority for many second citizens. The sense of connection applicants develop with their future fellow citizens that results from the investment they make via the SGF into the community is invaluable. The investment is then in accordance with the Government’s policy of sustainable growth. Investors can therefore be confident knowing that their money is going towards theirs and their families’ futures.
As alluded to above, one of the many areas in which SGF funds are invested is that of public infrastructure. Projects are devised to provide economic growth and improvements to life quality on a long-term basis. For example, in the Upgrade of the Island Main Road in 2018, five local companies were hired, bringing wealth creation to local people as well as improving travel for residents. Similarly, in an ongoing project, 50 nationals have been employed in the construction of the second cruise pier at Port Zante.
St Kitts and Nevis’ Programme is frequently hailed by investors and agents alike for its platinum standard. In 2017, it received the award of ‘Most Innovative Immigration Investment Programme’ at the Russian Global Citizen Awards, and in both 2017 and 2018, it received an exceptional score on the global CBI Index, published by the Financial Times’ Professional Wealth Magazine. The SGF, and its ability to adapt to applicants’ needs and bring investors and residents together, is another example of strength from this industry leader.
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