SKN CBI Commission Established

(ZIZ News) — The Denzil Douglas administration has been, for several months, leading an in-depth process of review and evaluation where the country’s Citizenship By Investment [CBI] Programme is concerned.

Speaking during his most recent press conference, Prime Minister Douglas said a St. Kitts-Nevis Citizenship by Investment Commission has been established to aid in the review process.

That entity, he explained, comprises government officials, private sector representatives and community leaders to facilitate broader oversight and defence of the national asset.

“For as long as there is a St. Kitts-Nevis Citizenship by Investment Programme there will be a process of ongoing review and evaluation by the government. First, in order to protect the national security interest of our Federation, and secondly, in order to ensure strong and constructive relations between St. Kitts-Nevis and the international community,” he said.

Prime Minister Douglas outlined the importance of undergoing extensive review and evaluation.

“This was important on a number of fronts. Firstly, it served the government’s need to exert maximum control over the programme. Secondly, it reinforced the due diligence aspects of the programme and thirdly, it enabled the government to benefit from information provided by other nations as to how the programme might be used for illicit purposes,” he said.

He added that the CBI Programme should always be closely monitored in order to avoid abuse and his government is committed to ensuring its longevity.

“Any person granted economic citizen for St. Kitts-Nevis will be monitored for a period of five years. If during this time an economic citizen is convicted of a crime in any international jurisdiction that individual’s passport can become invalidated. In addition, the passport of anyone suspected of terrorism or money laundering will be firstly, suspended during the investigation of the offense and secondly, invalidated if convicted,” he said.