St. Kitts And Nevis to relaunch Citizenship By Investment Programme after interventions by current administration

Prime Minister of St. Kitts and Nevis, Dr. the Hon. Terrance Drew, has announced the relaunch of the country’s Citizenship By Investment (CBI) programme, set between July 10- July 14. This decision follows a series of improvements to the program’s controls to address existing challenges and ensure greater efficacy. He made the disclosure during The Roundtable, an engagement with members of the media, earlier today, July 2.

Dr. Drew highlighted the collaborative efforts within the Caribbean Community (CARICOM) bloc to harmonise regional controls. This initiative was formalised with the signing of a Memorandum of Agreement on July 1. Significant regulatory changes were also introduced with considerable input from the Eastern Caribbean Central Bank (ECCB) and the Organization of Eastern Caribbean States (OECS) Authority. These measures aim to enhance the integrity and validity of the CBI programme.

Prime Minister Drew acknowledged the challenges posed by the country’s heavy reliance on the CBI programme, which constitutes approximately 60 percent of the national economy. 

He gave the assurance, however, that his government is committed to pursuing economic diversification and fostering sustainable economic development. Efforts are underway to reduce dependency on the CBI programme and develop a more resilient economic framework for St. Kitts and Nevis.

With the relaunch of the CBI programme, St. Kitts and Nevis aims to strengthen its economic position while addressing existing vulnerabilities. The collaborative regional approach and enhanced regulatory framework signify a proactive stance towards sustainable growth and stability.

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