ST KITTS & NEVIS Trends and Developments Contributed by: Dahlia Joseph Rowe and Daisy Joseph Andall, Joseph Rowe, Attorneys-at-Law
St Kitts and Nevis has fantastic real estate options for the buyer who wants more. The real estate market in St Kitts and Nevis has shown robust activity in the past year. There has specifically been steady interest in high- end options and prospectively high-end “fixer- uppers”. At the moment, a number of distressed properties or hotel properties with under-realised potential remain available for purchase. It is pos - sible that such properties can produce solid returns on investment and some fun-in-the-sun for anyone up to the challenge. Real estate units Buyers who purchase approved real estate, whether a condominium unit, villa or private home, have the opportunity to apply for citizen - ship in St Kitts and Nevis under the CSI pro - gramme. Anyone interested in making use of this benefit must comply with the July 2023 CSI Regulations and satisfy the minimum investment requirements thereunder. Some of the highlights within the current real estate development offerings in St Kitts and Nevis are internationally branded private resort residences. These properties provide the excep - tional opportunity of owning and living in the most exclusive gated community, with luxury services and amenities at the owners’ dispos - al. Owners receive the same five-star ameni - ties and services as hotel guests. Real estate investments in these types of developments can qualify the purchaser to become a citizen of St Kitts and Nevis. In a bold move in July 2023, the government of St Kitts and Nevis increased the minimum investment required under the CSI programme by 100%. The real estate investment option now allows CSI applicants to acquire citizenship by
making a minimum investment of USD400,000 (previously USD200,000) in a real property des - ignated by the government as an Approved Development. The minimum investment of USD400,000 does not include due diligence fees, CBI application processing fees, government approval fees, returns on investment, agent fees or any other commissions and fees, all of which must be paid in addition to the minimum investment amount. The minimum holding period of seven years remains unchanged. What has changed is how an owner can resell to a new purchaser also seeking citizenship. In order for the real estate unit to qualify the sec - ondary purchaser for citizenship, the owner must successfully apply for the real estate unit to be sold as an Approved Private Home pursuant to the July 2023 CSI Regulations. More on the Pri - vate Home option is explained next. Private home sales Under the new CSI Regulations, “Private Home Sale Investment Option” remains a permanent investment option under the CSI programme. However, the requirements for a private home to qualify a buyer and his/her family for St Kitts and Nevis citizenship have changed. Now, only a private home owned by a citizen of St Kitts and Nevis can qualify for sale to a purchaser seeking citizenship under the CSI programme. The CSI Regulations clearly provide that where any citizen of St Kitts and Nevis is a registered owner by Certificate of Title of the following real estate:
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