The Citizenship by Investment Unit (CIU) of St Kitts & Nevis has announced a significant policy shift, now allowing cryptocurrency to be used as a “partial” source of wealth for applicants seeking citizenship.
The move, communicated via email to authorised agents by the CIU Communications Division, has introduced additional due diligence fees and requires separate documentation to verify the source of crypto wealth.
This development reflects a growing trend, with Hong Kong’s Capital Investment Entrant Scheme (CIES) adopting a similar approach earlier this year, recognising cryptocurrency holdings as valid proof of wealth.
St. Kitts and Nevis citizenship by investment requirements
The St. Kitts and Nevis Citizenship by Investment Program requires applicants to make a significant economic contribution to the country.
In exchange, and subject to a stringent application procedure including thorough background checks, the applicants and their families can be granted full citizenship.
Read also: Malta becomes top country globally for obtaining citizenship through investment
To qualify for citizenship, the main applicant must be over 18 years of age, meet the application requirements, and select one of the following options:
Sustainable Island State Contribution (SISC)
A non-refundable contribution of USD 250,000 to SISC for an applicant and up to three qualifying dependents
$50,000 for each additional qualifying dependent over 18
$25,000 for each additional qualifying dependent under 18
Approved Public Benefit Project
A minimum non-refundable contribution of $250,000 to a public benefit unit in an Approved Public Benefit Project.
Real estate acquisition
The purchase of real estate with a minimum value of $325,000 from an approved real estate development, or a minimum of USD 325,000 for a condominium unit or USD 600,000 for a single-family private dwelling.
The real estate purchased under both options can be resold after seven years under certain conditions.
Established in 1984, the St Kitts and Nevis Citizenship by Investment (CBI) programme is the longest-running initiative of its kind. It has provided investors worldwide with a swift, straightforward, and cost-effective pathway to obtaining second citizenship.
The programme operates under Part II, Section 3 (5) of the Citizenship Act (1984) and the Saint Christopher and Nevis Citizenship by Investment Regulations (2011).
These legal provisions empowers the government to grant citizenship to individuals who meet the eligibility criteria set by cabinet decisions.
One of the programme’s most compelling advantages is that citizenship is granted for life and can be passed on to future generations by descent. The benefits includes visa-free travel to over 150 countries, and the right to live, work and study in the country.
