Government Hosts First National Consultation on the CBI Program

(ZIZ News) – Attorneys, private sector personnel, representatives of financial institutions, and related government agencies participated in a consultation on the highly publicized Citizenship by Investment (CBI) Program.

Held at the Ocean Terrace Inn, the consultation sought to implement a more collaborative approach as the government revamps the CBI Program.

The session was guided by the theme, “The Way Forward through Collaboration”.

In his remarks, Permanent Secretary in the Office of the Prime Minister, Osbert DeSuza asked stakeholders to offer suggestions and recommendations to get the program back on course.

He said, “It is expected that the recommendations will be practical, feasible and ones that can be implemented without creating a burden on the government’s purse.”

Prime Minister, the Hon. Dr. Timothy Harris said the program is too important to ignore, adding that it requires careful management.

He described it as the oldest and best in the region.

“The St. Kitts and Nevis program is still an excellent product, the market leader. It is an enormously invaluable leader vehicle for promoting national development and economic resilience. It is a tremendous resource. But like all resource it needs to be managed carefully with prudence, diligence and integrity,” he explained.

Dr. Harris said the International Monetary Fund [IMF] recently reported that St. Kitts and Nevis has the strongest growth in the region. He said growth for 2015 is projected at 4.5 percent, which is partly due to the CBI Program.

The first National Consultation on the CBI Program continued with presentations by a service provider and a representative of IPSA International.

Stakeholders participated in an open panel discussion headed by the Honorable Vincent Byron, Attorney General; and Developers Ron Fish and Gregory Hardtman.

It was moderated by Financial Secretary, Hilary Hazel.