After sustained and meaningful dialogue between the governments of Canada and St. Kitts and Nevis, the visa requirement imposed on nationals of St. Kitts and Nevis in 2014 has been partially lifted, clearing the way for easier movement of people between our two countries.
In essence, the policy applies to the following categories of nationals: 1. Those who have had a Canadian visa over the past ten (10) years, and 2. Those who have a current non-immigrant US Visa. The above categories of nationals are required to apply online for an electronic travel authorization (ETA) (www.eta-apply.ca), for which a response is usually received the same day.
This is the case with European nationals. First time applicants or persons who do not have a US or Canadian Visa are still required to apply for a visa to enter Canada. Prime Minister’s Office 6th June, 2023.
investors. These poor-quality real estate developments include those involving any deceitful, fraudulent or otherwise unacceptable financial conduct, as well as stagnant and inactive real estate developments commonly referred to as “ghost  projects.
The CIU discovered that many developers of these projects were illegally offering discounting by holding applicants’ investment funds offshore. This type of improper financial conduct undermined the ability of legitimate developers to engage in meaningful competition in the local real estate market.
There are several reasons for the decrease in Approved Developments. All existing developments were required under the 2023 Regulations to apply for redesignation as Approved Developments per the new eligibility standards.
In addition to the rejection of applications from poor-quality real estate projects which do not bring any legitimate investment into the country, but only devalue local real estate, several previous developers have elected not to re-apply for Approved Development status of their projects, as well as several applications remaining under consideration by the CBI Board of Governors. It has also been misleadingly asserted that the 2023 Regulations deprive real estate developers of their ability to pay commission and agent fees to their marketing agents and local agents, which in turn significantly lowers the attractiveness of the REO under the Programme.
On a proper construction of sub-regulations 29(11) to 29(13), a developer of an Approved Development may pay commissions and fees to their agent out of any amount of the real estate investment fund in excess of US$200,000. There is no bar on payment of commission provided the minimum investment threshold is received in the escrow account and the developer can deliver a property that can sustain its true market value.
For the above reasons, the contention that payment of agent commissions and fees is prohibited under the Programme is unfounded. The Government of St. Kitts and Nevis and the CIU are committed to ensuring that all real estate investments under the St.
Kitts and Nevis CBI Programme bring substantial value to both investors and the people of St. Kitts and Nevis. The improved real estate development project approval process introduced by the 2023 Regulations demonstrates our Government’s commitment to be a trailblazer in the CBI industry for taking proactive steps to maintain the Programme’s integrity and retaining its reputation as one of the world’s most valuable, well-regulated and transparent CBI Programmes of its kind.
