KUALA LUMPUR, July 3 (Bernama) -- St Kitts and Nevis has extended its Sustainable Growth Fund (SGF) Limited Time Offer (LTO) until Jan 31, 2024, allowing investors to gain approval for alternative citizenship in the country in as little as 60 days for a reduced fee.
In December last year, the St Kitts and Nevis Head of the Citizenship by Investment Unit (CIU), Michael Martin announced the enactment of the updated St Kitts and Nevis Citizenship by Investment Regulations 2023, which included the introduction of the LTO for the SGF investment option, effective Jan 1– June 30.
However, on June 29, Martin made comment regarding the LTO stating the country has received an overwhelming response and demand for its SGF investment option via the LTO, and felt that it had to extend the offering for another seven months.
The SGF remains the quickest and easiest route to alternative citizenship in St Kitts and Nevis. A main applicant can acquire alternative citizenship by contributing only US$125,000 to the SGF and receiving approval in principle within 60 days of acknowledgement by the CIU of submission of their application. (US$1=RM4.66)
According to a statement, revenue from the SGF has facilitated economic development and social upliftment in the country.
It is used to provide financial support to educational institutions, and medical facilities, as well as support infrastructural development, increase tourism, preserve local culture and heritage and support sustainable growth initiatives in the twin-island nation.
Via Citizenship by Investment (CBI), St Kitts and Nevis has found ways to protect the dual-island from global shocks by offering favourable business policies aimed at growing corporations in international markets, and using international funds channelled to the SGF to diversify and grow its economy to meet global needs.
For nearly 40 years, St Kitts and Nevis has been the pioneer of the global investor immigration industry and those who recognise this are taking advantage of the LTO.
-- BERNAMA
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