02/05/23

CITIZENSHIP AND RESIDENCY: Saint Kitts and Nevis introduces changes to its citizenship through an investment programme.

As published on khaleejtimes.com, Tuesday 2 May, 2023.

Michael Martin, the nation's recently appointed head of the Citizenship by Investment unit, has made the long-awaited revisions to the Citizenship by Investment (CBI) programme for St Kitts and Nevis public. St Kitts and Nevis are once again leading the way for the investment immigration industry, setting a bold and new tone for the sector as a whole. By adding a new layer of integrity, the country is truly accelerating its economic diversification, empowering and prospering local citizens, and building a solid foundation for wise investors.

Three key ideas — sustainability, good governance, and pragmatism — will serve as the program's cornerstones. The addition of a technical committee and a board of governors will be the programme's most noticeable modification.

The creation and implementation of policies and procedures, as well as general control of the CBI Unit's operations, will fall under the purview of a professional CBI board of governors. A CBI technical committee will be tasked with ensuring that all due diligence background checks are rigorous and that all citizenship by investment applications are carefully examined to advance the programme's good governance agenda.

The addition of a board of governors and a technical committee will be the most significant adjustment to the program to accomplish this.

Beginning the following year, qualified citizenship by investment board of governors will be in charge of high-level supervision tasks like general oversight of the CBI unit's operations, developing and implementing CBI unit policies and procedures, ensuring that application processing is finished as quickly as possible within the advertised time frames without compromising the program's integrity, and continuously monitoring the global investment climate.

St Kitts and Nevis Citizenship by Investment technical committee will be in charge of making sure that all due diligence background checks are complete and that all citizenship by investment applications are carefully examined to further the good governance goal of the programme. As Minister of National Security, immigration, and citizenship, the Prime Minister will receive recommendations from this committee.

Through its sustainable growth fund, St Kitts and Nevis is giving potential citizens the possibility to obtain second citizenship in as little as 60 days. The fund's proceeds will be used to promote the nation's economic growth and social advancement. The sustainable growth fund will be used to promote sustainable growth projects in the twin-island country and to support infrastructure development, local tourism development, local culture and heritage preservation, and financial support for educational institutions and medical facilities.

These changes are part of the government’s tireless efforts to create conditions necessary for sustainable economic growth and diverse business opportunities.

St Kitts and Nevis Citizenship by Investment may be your best choice if you decide to invest in a second passport. This is the oldest citizenship-by-investment programme, and it has been luring international investors, businesspeople, and entrepreneurs since the middle of the 1980s by promising them passports in exchange for their capital. Citizenship by Investment Program requires applicants to make a significant economic contribution to the country.

Saint Kitts and Nevis passport is a Commonwealth passport that allows visa-free travel to over 155 destinations including all Schengen countries, UK, Singapore, and Hong Kong. St Kitts and Nevis passports allow investors and their families to access world-class education and health services, as well as international business opportunities. Investors can obtain St Kitts and Nevis dual citizenship without renouncing their current nationality or fulfilling any physical residency or language requirement.