“The contribution, which is now at US$195,000 for a family of up to 4 will be reduced to US $150,000 as part of a limited time offering,” said Prime Minister Harris at his monthly press conference held earlier today, Friday, July 03 – his first since the historic re-election of the Team Unity administration on June 05.
The limited time offering runs from July 01 to December 31, 2020.
The minimum contribution for a single applicant will remain at US $150,000.
Additionally, the St. Kitts and Nevis Prime Minister announced that stamp duty will be reduced to 2.5 percent over the same period to assist the CBI’s Real Estate option.
“These initiatives we hope will stimulate market demand, enhance our competitiveness in a market challenged by wealth loss occasioned by the dislocation of the global economy by COVID-19 and the greater uncertainly and risk which hover over the entire world as a consequence of COVID-19,” Dr. Harris added.
While stressing that these are time bound offers, Prime Minister Harris stated that, “These resources will help us to continue our safety net programmes, reduce poverty and indigence and support the build out of our economic infrastructure on Nevis and on St. Kitts while enhancing our fiscal and economic resilience.”
This is not the first time the Team Unity Government has introduced a time specific offering as part of its CBI programme in response to the needs of the people of St. Kitts and Nevis.
In September 2017, the Hurricane Relief Fund was established by the Citizenship by Investment (CBI) Programme as a temporary device to assist households that were affected by Hurricane Irma. To date, more than 2,000 households benefited from that highly successful programme.