The Government of Saint Kitts and Nevis has announced two significant reforms to its Citizenship by Investment (CBI) Programme, aimed at strengthening security and attracting credible investors.
Prime Minister Dr Terrance Drew unveiled the measures during a Roundtable engagement with the press, confirming that the programme will now include a residency requirement for investors and a system for collecting biometric data from potential citizens worldwide.
“We are serious when we say that we will make sure that we do what we have to do to put this CBI Programme in good standing,” Drew stated.
These measures are part of a broader effort by the government since 2022 to repair the reputation of the CBI Programme, which faced criticism for underselling and other concerns. Under Drew’s leadership, the programme has seen a series of reforms, including raising the minimum investment, strengthening due diligence procedures, ensuring transparency, and converting the CBI Unit into a statutory body for proper oversight.
Saint Kitts and Nevis has also spearheaded the establishment of the Eastern Caribbean Citizenship by Investment Regulatory Framework, which modernises and safeguards the sector. The framework creates a shared regulatory authority among participating Organisation of Eastern Caribbean States (OECS) members, modelled on the cooperative structure of the Eastern Caribbean Central Bank.
“These two new advancements reinforce our commitment to a secure and reputable programme while supporting sustainable economic growth,” Drew added.
Source: CNW
As opposed to St Lucia where they are more than happy to sell the island bit by bit and take hundreds of thousands of dollars off you, but no one actually wants you living here