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St. Kitts and Nevis’ Citizenship by Investment (CBI) program has introduced further adjustments in a continued attempt to regain traction after a series of controversial policy changes over the last two years that led to a significant drop in applications and revenue. The latest modification, which lowers the minimum investment amount in real estate from $400,000 to $325,000, has not been accompanied by a public statement from the government, marking yet another alteration in what has become one of the most unstable CBI programs in the Caribbean.

In early 2023, the government raised the minimum cost for citizenship to $250,000—a decision that nearly halved the program’s application volume. This move was compounded by the controversial appointment of a convicted fraudster as the program’s sole public benefactor, which further damaged the CBI’s reputation and reduced investor confidence. By 2024, additional adjustments to the minimum investment threshold sought to revive the program, though the lingering effects of these decisions continued to impact the program’s stability.

The program’s challenges have extended beyond pricing. In the last year, the CBI faced a RICO lawsuit filed by its own benefactor and the resignation of CEO Michael Martin, which compounded the public’s perception of instability. Prime Minister Dr. Terrance Drew’s announcement that he would consider revoking thousands of CBI passports further discouraged potential investors, who became increasingly hesitant to engage with a program marked by high volatility and risk.

As St. Kitts and Nevis grapples with these setbacks, other Caribbean CBI programs, including those in Antigua, St. Lucia, and Grenada, have reported record growth as they absorb demand redirected away from St. Kitts and Nevis. The current reduction in real estate minimum investment marks another attempt by the government to stimulate interest in its CBI program, but without consistent, stable policies, the success of these changes remains uncertain.