As of October 15th , 2011, the following changes have been implemented by the St Kitts & Nevis authorities:
- All donations made into the SDIF escrow account will not be made until after the applicant has been advised the application has been approved in principal. At this stage applicants shall be given 90 days to transfer the funds.
- At the time of initial submission the due diligence fee of USD$3,500 will be payable. Therefore this will no longer be included in the donation amount and all donations will need to have this fee added. This applies to all family members 16 yrs and above.
- A new C4 form will be required but as of yet has not become available.
The above news has been well received by many within the industry, though the donation amount will be slightly higher for future applications. The removal of upfront donation at the time of submission is seen as a favourable amendment. For more information, please contact your Relationship Manager.