The Sustainable Growth Fund (SGF) launched on 29 March 2018 under the St.Kitts and citizenship by investment program to replace the Hurricane relief fund (HRF). Foreign investors qualify for St Kitts citizenship under the SGF fund by paying one time contribution starting from US$150,000. The Government of Saint Kitts and Nevis has published Citizenship by investment (Amendment 2) 2018 Regulations in Official Gazette 2018. The amendment specifies the guidelines and requirements for new fund Sustainable Growth Fund for the CBI programme.
The Sustainable Growth Fund shall consist of all monies contributed into the Fund for the purposes of a CBI application. An account and record of the contributions to the Sustainable Growth Fund shall be kept by the Board of Governors. The contributions to the Sustainable Growth Fund, minus the prescribed commissions of International Marketing Agents and authorised agents, shall be placed into the Consolidated Fund and the manner of deductions shall be in accordance with the Finance Administration Act, Cap. 20.13.
Sustainable Growth Fund
The Sustainable Growth Fund represents the ongoing advancement of St. Kitts and Nevis to realise their potential as a prospering small-island nation with an accelerating economy. The CBI regulations specify the fund money is used for the below purposes explicitly to the benefit of people of St.Kitts and Nevis.
(a) for the funding of school construction and education-related initiatives, including, funding for computers, books, scholarships and bursaries;
(b) to mitigate the effects of climate change in Saint Christopher and Nevis, including, preparation for increased hurricane threats, droughts, emergency preparedness, public education, disaster planning and preparedness;
(c) to support economic growth in Saint Christopher and Nevis, including to improve competitiveness, support small and medium sized business enterprises, support manufacturing and industrial activities, support agricultural diversification and development, support the fisheries sector, support development of financial services, support further development of domestic and export driven manufacturing, support improvement in the ease of doing business and to support improvements in technological advancement;
(d) for the build out of infrastructure that supports all ports of entry, to repay loans for ports of entry, to enhance the port facilities of the airports and seaports and to support the build out of roads and utilities in Saint Christopher and Nevis;
(e) for the development and enhancement of medical facilities of Saint Christopher and Nevis;
(f) to support tourism development in Saint Christopher and Nevis;
(g) to promote, preserve, protect and develop Saint Christopher and Nevis’ culture and heritage; and
(h) to support other sustainable growth initiatives in Saint Christopher and Nevis.
The official brochure can be downloaded in PDF format
The Sustainable Growth Fund allows future citizens to be part of the St. Kitts and Nevis success story.
– Dr. Timothy Harris, PM of St.Kitts & Nevis