BASSETERRE, St. Kitts, November 16, 2022 (SKNIS) – In its first 100 days in office, the Honourable Dr. Terrance Drew-led administration said it has made and is making a concerted effort to strengthen the country’s Citizenship by Investment (CBI) programme.
During his press conference on Tuesday, November 15, 2022, Prime Minister and Minister of Citizenship and Immigration, the Honourable Dr. Terrance Drew updated nationals on the steps being taken to improve the functioning of the programme.
“The vision to use citizenship by investment to attract international investment was both bold and creative but we must admit that over the years, the programme has not been mutually beneficial for all stakeholders – especially our people, who should always be at the forefront of the benefits from programmes. Your Government has been committed to working tirelessly to strengthen and improve our CBI programme for enhanced sustainability within a framework of integrity,” the Prime Minister said.
Prime Minister Dr. Drew added that an evolved CBI programme, under his administration, will be operated with the utmost transparency.
He said, “There will be much stronger oversight and leadership in the CBI Unit. Your Government is implementing strengthened legislative and administrative structures to ensure that real estate projects funded by the CBI programme are completed. To this end, we are seeking trusted investors who see the potential of our nation to put capital behind creative and strong projects that will enhance our offering.”
“Under new leadership, the CBI programme will be administered in such a way that all stakeholders can have an equal opportunity to benefit, and priority needs will be addressed. For example, we need housing for our people here in St. Kitts and Nevis. We were therefore purposeful in our engagements and the newly evolved programme must prosper each and every one of us here in St. Kitts and Nevis. The changes we intend to make will ensure that we maintain a progressive and sustainable programme whilst cementing St Kitts and Nevis’ place as a leader in the CBI industry,” the honourable Prime Minister added.
In his remarks, Prime Minister Dr. Drew said the Federation’s CBI programme has been the pioneer of the global investor immigration industry for nearly forty years, and that has “allowed this nation to thrive beyond what could not have been possible without it. It has, at times, given us the opportunity to advance our people without relying too much on international financial aid.”