Sugar Industry Diversification Fund (S.I.D.F.) Contribution
The Sugar Industry Diversification Foundation is a public charity established to support displaced St. Kitts and Nevis sugar workers. The fund researches and financially aids the development of industries to replace the sugar industry.
In order to qualify, the investor commits a non-refundable S.I.D.F. charitable donation of:
- US$250k for a single person
- US$300k for a family of four
- US$350k for a family of five
- US$450k for six or more persons.
Before transferring the contribution funds, applications are submitted with due diligence fees; US$7.5k for main applicant and US$4k for each dependent over the age of sixteen. Upon completion of the due diligence process, instructions will be provided for transfer of funds into escrow account, and citizenship is granted. The complete process usually takes from 3 to 6 months.
Many individuals prefer the S.I.D.F., as there is no long-term commitment to the islands or headache associated with vacation real estate ownership. The S.I.D.F. option however is a non-refundable contribution, while purchase of approved real estate through the Citizenship by Investment program can provide, at least, a partial return of the investment or perhaps healthy ROI, with few restrictions.