(ZIZ News) — After consultations with stakeholders, it was decided that the fees associated with the Citizenship by Investment Programme will remain.
This was confirmed by Prime Minister Dr. Hon. Timothy Harris at the National Conference for Service Providers and Developers for the Citizenship by Investment Program.
He said to reduce the fees would dilute the brand’s image.
“St Kitts and Nevis is recognized as one of the best performing economies in the world and our investors chose our program because of the quality of our product. We know that any reduction in our price, either in fees or in investment options will make it difficult for us to market a distinctive product and will dilute the image of our brand as one of distinct quality, one to be aspired to and one that delivers the best results,” the Prime Minister said.
Premier of Nevis Hon. Vance Amory said he approved of this decision.
“So we are in agreement and I am in agreement with the prime minister that there will be no dilution of the program because we want to ensure that not only are we the longest but that we maintain the quality and that we move to another level and become the platinum standard of Citizenship By Investment programmes in the world,”
There are two areas of investment under the Citizenship by Investment Program: real estate with a minimum requirement of USD $400,000 dollars and the SIDF contribution which is USD $250,000 for a single applicant and up to USD $450,000 for applicants with up to seven dependents.