Prime Minister Harris Outlines Strategic Areas For Strengthening St. Kitts And Nevis’ CBI Programme
BASSETERRE, St. Kitts, November 25, 2020 (Press Unit in the Office of the Prime Minister) – After 36 years, St. Kitts and Nevis’ Citizenship by Investment (CBI) Programme continues to be one of the most efficient, transparent and reliable options for economic citizenship, and one that has become the model against which other citizenship by investment programmes have been based.
Notwithstanding, the country’s Prime Minister, Dr. the Honourable Timothy Harris, said his administration will not rest on its laurels and will continue to implement and introduce new offerings, and strengthen the legislative framework to support the growth of the industry.
Prime Minister Harris stated that in the coming year, his administration will look at how it can draw on the skills, expertise, network and other resources of its economic citizens to bring about a more tangible impact on the progressive development of St. Kitts and Nevis.
“For the next three years, we will continue to strengthen our programme, making it the continued leader in terms of its rigor, the robustness and the transparency in the programme. We will provide a more inclusive programme in terms of its people, impact and benefits. We will continue to be the global leader in innovation in response to market needs, most responsive and transparent in addressing our international obligations to our partner countries and the wider international community,” the prime minister said during the Tuesday, November 24 edition of Leadership Matters.
Additionally, the honourable prime minister said his Team Unity administration will seek to introduce attractive alternative investment products beyond the real estate and the sustainable growth fund options.
“For example, we shall reconsider the sale of high end property under prescribed conditions under the CBI. This can boost real estate developments, add to revenue flows and incentivize high end residences across the country. So, no longer then will the real estate property be part of a generally broad approved project. A single home which meets the necessary thresholds will be considered under the CBI project. We have had deep interest in doing this and we are finalizing our policy response to this particular market need,” Dr. Harris added.
Prime Minister Harris said it is the intention of the St. Kitts and Nevis Government to deepen coordination that will lead to greater harmonization of OECS CBI programmes, adding that, “This way we achieve more by working together.”