LIFESTYLE

What is the SIDF?

29/10/2016


Options for Contribution

The Sugar Industry Diversification Foundation (SIDF) was established in September 2006 with the goal of shifting the economy of St Kitts and Nevis from one based on sugar production, to one based on the provision of services. Since its formation, it has launched national projects to encourage sustained economic development, support energy conservation, promote entrepreneurship, and ameliorate the country’s infrastructure. In so doing, it has created new jobs, helped the country innovate and modernise, and improved the lives of locals.

Foreign nationals wishing to become citizens of St Kitts and Nevis have the option of contributing to the SIDF. The minimum required contribution to the SIDF for a single applicant is USD 250,000. This contribution amount increases to USD 300,000 for a family of up to three dependants – including a spouse – and it further increases to USD 350,000 for a family of up to five dependants – also including a spouse. An additional government fee of USD 50,000 is applicable whenever a dependant between the ages of 18 and 25, or aged 65 and over, is included in an application. The Government of St Kitts and Nevis then operates strict due diligence procedures, for which it charges a fee of USD 7,500 for the main applicant, and an additional fee of USD 4,000 for each dependant aged 16 or over.

A contribution to the SIDF is the simplest and most efficient way of obtaining citizenship in St Kitts and Nevis. More importantly however, it allows investors to become instrumental to their new country’s growth and wellbeing.

Below are some examples of the programmes sponsored by the SIDF, and funded by St Kitts and Nevis’ newest citizens.

ENTREPRENEURIAL DEVELOPMENT

The SIDF has established programmes for aspiring small entrepreneurs to learn how to run service-based businesses. Under the SEED programme, for example, entrepreneurs receive up to USD 37,000, and are assigned expert accountants and other professionals to help them through the initial stages of starting their business.

AGRICULTURAL PROGRESS

The SIDF aims to achieve national food security for St Kitts and Nevis by developing a diversified agriculture sector and by increasing the yield and quality of the nation’s crops, vegetables, and fruits. With its ARM project, for example, the SIDF has promoted the use of greenhouse technology, and novel irrigation systems and water storing devices.

SCHOOL IMPROVEMENT

The SIDF has devoted considerable effort to improving the nation’s education system. The School Improvement Project, for example, was developed in concert with the Ministry of Public Works to renovate the country’s primary and secondary schools. Among other things, laboratories and technical centres were upgraded to foster better learning through practical experience.

ENERGY CONSERVATION AND RENEWABLE ENERGY

The SIDF and the Ministry of Energy have partnered together to reduce St Kitts and Nevis’ carbon footprint. Through a programme of increased subsidies, the SIDF has created important incentives for locals to use less electricity. Additionally, the SIDF has started replacing all household light bulbs with LED bulbs, and it is spearheading a project to install solar panels on new and existing homes.

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