Following the devastation of Hurricane Irma and Maria in the Caribbean region in September this year, the Government of St Kitts & Nevis has introduced various changes to the St Kitts & Nevis Citizenship by Investment Programme with the introduction of the Hurricane Relief Fund. The devastation caused to the island was immense causing landslides, loss of key roads to the sea, damage to homes and businesses, as well as key infrastructure such as power lines.
The Fund, to be entirely funded by citizenship by investment proceeds, is intended both as an additional means of sustenance following the damage suffered at the hands of Hurricane Irma and Hurricane Maria, and as a preventative measure, should more hurricanes make their way to the twin isles.
As of 23rd September 2017, individuals applying for St Kitts & As of the 23rd September individuals applying for St. Kitts & Nevis Citizenship by Investment will be required to make the following nonrefundable contribution:
USD $150,000 for a single applicant
USD $150,000 for a family of 4 – main applicant, spouse and 2 dependent children
USD $25,00 for any additional dependents.
The Fund is a temporary measure, and will be open until March 2018
Prime Minister, Dr the Honourable Timothy Harris said about the initiative:
“Although Hurricane Irma did not make a direct hit on the Federation, it caused danger to the public sector and private property, with damages of substantial amounts to the order of 150 million and the Hurricane Season is not over yet. The government of St. Kitts and Nevis would like to be in a position to provide assistance to its citizens and to make funds available for a speedy recovery to the economy. It is therefore being recommended that a new fund, the Hurricane Relief Fund, be established under the Citizenship by Investment Programme to provide such relief.”
“The ethos behind citizenship by investment is about opening up the Federation to investment that will have a direct impact on the quality of life of its citizens. The Hurricane Relief Fund is an attractive option for citizenship applicants in the way it fulfils their own desire to make a positive impact on the environment in which they are seeking to play an active part. It enables the country and its people to recover more quickly and to ensure that the infrastructure and people’s homes are fit and habitable where they have been damaged by this season’s hurricanes.”
For more information on the Hurricane Relief Fund and how to obtain your St. Kitts and Nevis Second Passport, contact our qualified citizenship experts today for a free consultation +971 4 325 8374