LONDON, April 26, 2020 /PRNewswire/ -- Citizenship by investment (CBI) plays an important role in family security, a guest of a newly launched podcast series suggested on Wednesday. Beatrice Gatti, Head of Government Advisory Practice at leading investor immigration firm CS Global Partners, said that second citizenship remains an important asset. The podcast references St Kitts and Nevis as the origin of today's CBI industry.
Through CBI, families seek better access to high quality education and healthcare, flexibility to visit their children studying abroad or living with more freedoms. Mrs Gatti notes that, in the context of the current global mobility restrictions, many countries have limited access for foreign nationals, but their own citizens and residents are still allowed to enter.
"One thing to note in this pandemic is that, although many countries have closed their borders to foreigners, most have not closed their borders to citizens and permanent residents - meaning that even in these extraordinary times a second citizenship is an important asset," Mrs Gatti says.
St Kitts and Nevis has been successfully running its 'Platinum Standard' CBI Programme since 1984. It currently provides the fastest route to second citizenship through its fund option. Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF) in 2018. After passing all the due diligence checks, applicants make a straightforward contribution to a government-held account. This makes the process safer, faster and more transparent, as the government is able to confirm receipt of funds without delay.
There is the added option to speed up the process to obtain citizenship - and accompanying passport, a process separate from CBI - to 60 days or less. This is called Accelerated Application Process, a feature unique only to St Kitts and Nevis.
Earlier this month, Les Khan, the CEO of the country's Citizenship by Investment Unit, said that SGF was created with family needs in mind. Single applicants must make a qualifying contribution of US$150,000. Meanwhile, a family of four only needs to contribute US$195,000, with any further dependents added for another US$10,000 each. Mrs Gatti confirms that the Middle East, where larger families are more common, remains a key region that continues to seek citizenship by investment.
To find out if you and your family can obtain second citizenship from St Kitts and Nevis, visit the government website.
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