Dubai, UAE, December 4, 2023 (Press Secretary, PMO)- Saint Kitts and Nevis hosted a pivotal Citizenship by Investment (CBI) Luncheon yesterday December 3, 2023, on the sidelines of the United Nations (COP28), welcoming global partners, agents, and potential investors.
The event was graced by distinguished figures including the Prime Minister of Saint Kitts and Nevis, and Minister of Finance, National Security, Citizenship and Immigration, Hon. Dr. Terrance Drew; Rt. Hon. Dr. Denzil Douglas, Minister of Foreign Affairs, International Trade, Investments, and Industry and Commerce; Hon. Konris Maynard, Minister of Energy; Hon. Dr. Joyelle Clarke, Minister of Sustainable Development, Environment, and Climate Action; and Mr. Michael Martin, Head of the CBI Unit; marked a significant stride in reshaping the country’s renowned Citizenship by Investment Programme.
Acknowledging its inception in 1984, the Programme remains an illustrious pathway for high-net-worth individuals and families seeking legal citizenship in the captivating Caribbean.
Under the charge of the new St. Kitts-Nevis Labour Party Administration, the Programme underwent a rigorous reformation aimed at fortifying its integrity and reliability. Prime Minister Drew highlighted this transformative journey, expressing pride in the government’s swift actions and relentless focus on delivering a sustainable and trustworthy citizenship product.
“I am proud to say that my government, though we have not been in office long, has taken stock of what the programme was doing well and what we could improve. We sprang into action. 3 Our past twelve months in office have been focussed on ensuring that we can deliver a sustainable product to our trusted partners in citizenship, a product that will stay the course” Prime Minister Drew stated.
“We are a new government that is committed to continually improving our programme. The integrity of the programme is my priority” he added.
The commitment to enhancement resonated throughout the gathering. Emphasizing a commitment to continuous improvement, Prime Minister Drew emphasized, “The integrity of the programme is our priority.” Underlining this dedication, the Minister of Citizenship and Immigration detailed pivotal changes such as mandatory interviews and stringent due diligence checks, aligning with both national regulations and global best practices.
Prime Minister Drew underscored the international recognition garnered due to the Administration’s steadfast commitment to exceptional due diligence standards. Notably, the recent grant of e-visa access by Saudi Arabia accentuates Saint Kitts and Nevis’ global distinction. Dr. Drew outlined the unveiling of new regulations in July, reaffirming the nation’s resolve to uphold premium service standards.
“We require mandatory interviews and have multilayered due diligence checks at every stage of the process. Each stage has sub-stages, showing the depth of our commitment to due diligence. We are thereby enforcing strict compliance with the rules both within our country and within the internationally accepted best practice” he stated.
“We serve as an inspiration to the rest of the world in our programming, and the international community is taking notice of our work. For example, Saudi Arabia recently granted us e-visa access, the only Caribbean country that has this. We unveiled a new set of regulations to maintain our programme’s integrity in July, just to demonstrate our commitment to providing the premium service that the world has come to expect from us” added Dr. Drew.
While acknowledging the ongoing nature of these changes, Prime Minister Drew expressed optimism and a commitment to continually reassessing and refining regulations. Furthermore, he articulated an ambitious vision beyond mere security, aiming to pioneer a CBI programme that contributes multifaceted benefits to the nation.
“We will continually assess and reassess these regulations in due course, but at present, we are giving these regulations a chance to take hold. We are optimistic about these new changes, but our ambition goes even further. We do not only seek to continue being the most secure CBI programme; we also seek to continue being pioneers in the industry, through a programme that provides multifaceted benefits to the people of St. Kitts and Nevis. Our Sustainable Island State Contribution allows aspiring investors to take part in the social, environmental, and economic goals of the country. From the transition to green energy to economic development to evolving the creative economy, this fund is helping us do great things. The energy transformation is a fundamental aspect of our Sustainable Island State vision”.
The Sustainable Island State Contribution stands as a testament, inviting aspiring investors to partake in the country’s socio-economic and environmental aspirations, particularly its energy transformation journey.
Saint Kitts and Nevis, through its forward-looking approach, aims not only to safeguard its CBI Programme’s integrity but also to set industry benchmarks, paving the way for a more sustainable, inclusive, and impactful future for its citizens and investors alike.