St Kitts and Nevis hosts CBI evolution event in Dubai

By Hanan Redwan Published on December 03, 2022
St Kitts and Nevis hosts CBI evolution event in Dubai

The evolution of St Kitts and Nevis citizenship by investment programme is a win-win solution for investors and locals.

St Kitts and Nevis are under the new administration. As of August this year, the new Prime Minister, Dr Terrance Drew, has been working tirelessly with his team to chart a new path that will prosper the country socially and economically. Much of this progress will be driven by improved citizenship through investment programmes.

For nearly 40 years, St Kitts and Nevis have been able to develop its economy through its citizenship by investment programme, which channelled funds to meaningful initiatives such as healthcare development, infrastructure upgrades and various other projects that have uplifted the nation.

St Kitts and Nevis is the cradle of citizenship by investment and is regarded as the platinum standard in the industry, however, to continue and improve, changes need to be made.

Prime Minister Drew is set to host government delegates, VIP guests, global investors, and media at an exclusive event in Dubai on December 1. Stakeholder engagements are of paramount importance when managing changes to the citizenship by investment programme, and this will certainly be embraced by the new Government.

Marking his 100 days in office, Prime Minister Drew presented plans for the advancement of the twin-island nation, outlining steps that would pave the way to improving the lives of its people.

The upgraded citizenship by investment programme will be underpinned by much stronger oversight and a new CBI Board and technical committee will oversee the CBI Unit. This is intended to ensure that all projects undertaken by the unit are run with the utmost transparency, that all projects are completed on time and within budget and, most importantly, that funds from the programme are channelled correctly to benefit locals.

To help progress the economy, Prime Minister Drew highlighted that more oversight would ensure that the people of St Kitts and Nevis would also benefit from the CBI programme as it was intended. Plans are in place to support women in sectors like construction, to provide more support to small businesses, and to review opportunities for the development of the renewable energy sector, the processing of fish, as well as packaging and exports.

International investors seeking a trusted base for their families and businesses also have much to look forward to in the upgraded programme – the evolution of the programme will ensure that investors gain second citizenship to a globally competitive country in meaningful areas such as innovation and technology, high-quality healthcare and education and an attractive tourism industry.

“Our government has been relentless in our pursuit to strengthen and improve our Citizenship by Investment programme for enhanced sustainability within a framework of integrity,” said Prime Minister Drew.

This integrity will be underpinned by stronger due diligence checks by only the best international due diligence firms ensuring that only investors of the highest repute are allowed to own the coveted second citizenship of St Kitts and Nevis.

Prime Minister Drew also emphasised how his government is on a journey to bring clarity to locals and international investors through constant transparency and integrity. “Our ongoing work to strengthen this programme and the system must result in prosperity for all.”

St Kitts and Nevis have been the benchmark of citizenship by the investment value proposition and the new administration understands that to remain one of the most sought-after economic citizenship programmes in the world, it needs to evolve and forge a new path for itself and the industry as it responds to the needs of a new intelligent investor

The government plans to maintain a progressive programme that attracts the discerning investor and cements St Kitts and Nevis’ place as a leader in the CBI Industry.

Hanan Redwan

Hanan Redwan

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