The SIDF, also known as the Sugar Industry Diversification Foundation, was established in 2006 and is part of the St. Kitts citizenship program. The citizenship program is one of the oldest and most respected programs in the world. You can contribute to the Sugar Industry Diversification Foundation as one of three approved investment options to gain citizenship in St. Kitts.
What Is The Purpose?
It was established as a way to help the government transition from sugar as a primary industry to more diversified economies. The project is used for funding and researching those industries. While there are many booming industries now, it is still a viable option because more research is always welcome to determine which new courses the country should consider for building and growing their reputation and revenue.
Likewise, the foundation’s purpose has become broadened to include support for the government and its efforts to maintain stability and diversify national economies. It is also used to finance, undertake and support the development of existing and new industries, enterprises, and projects. It can also offer grants, debt forgiveness, loans, and budget support to any institution or person who qualifies.
How You Benefit
When you invest money in the SIDF, you are investing in St. Kitts & Nevis, which gives you the right to become a citizen of the area, following due diligence checks. Likewise, you will be required to be in good health, have no criminal background, and be an outstanding citizen. This means that you will have all the advantages citizenship brings, including visa-free travel to many countries, no taxes on worldwide income, and more.
You will be required to invest at least $250,000 for a single applicant, as well as any fees associated with citizenship. If you have dependents, you will be required to pay more.