The Sugar Industry Diversification Foundation (SIDF) is a charity setup by Saint Kitts Nevis Govt to raise funds for the displaced sugar industry workers. The minimum contribution about is $250,000 per person and it is non-refundable by the Government, once passport is granted.
Sugar Industry Diversification Fund
The Sugar Industry Diversification Foundation (SIDF), was established in September 2006 under the Foundations Act of 2003. The purpose of the Foundation is to research into the development of other industries to replace the sugar industry; to fund the development of these industries and to fund ongoing research and development to ensure the sustainability of these alternative industries.
Note: SIDF no longer operational, discontinued and replaced by SGF fund. The SIDF investment option is currently closed and not available under CBI program
Under the citizenship by donation option, there are four different categories, depending on the family members:
Fee and Costs
The SIDF has $250,000 donation + Government fee + Due diligence fee for one person. Additional costs apply for more family members. Please see the fee schedule for single applicant and any accompanying family members.
The SIDF option is the fastest and cheapest way to attain second citizenship and the processing time takes 4-6 months. The above mentioned include all government and due diligence and application fees.
Revenues
According the data from SIDF audit reports, St Kitts received close to US$661 million from CIP contributions between 2007 to 2016. The new 2016 audit report was published was at the end of 2018.
Replacement
The St Kitts government introduced Hurricane relief Fund (HRF) in Oct 2017 and this scheme ran for six months until Mar 31, 2018 requiring reduced $150,000 contribution replacing SIDF. The Government disclosed 1200 applications received under HRF scheme.
After the expiry of HRF, a new fund was replaced with Sustainable Growth Fund (SGF) requiring the same $150,000 contribution which is currently active and running.