The Director of Public Prosecutions’ Office (DPPO) announced on 20th September, that it will be launching a formal investigation into the administration of the Citizenship By Investment (CBI) programme prior to the significant reforms implemented by the current administration led by Prime Minister Dr. Terrance Drew.
According to a press statement, the DPPO noted that it will conduct a “fair and independent inquiry, in light of the potential political implications of the investigation”.
“The DPPO has received assurances from the Federal Administration that they will fully support an independent and impartial process, allowing the investigation to proceed,” the statement continued.
The DPPO plans to appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry with the assistance of a team of outside investigators. At least one local investigator will also be part of the investigative team to ensure collaboration and local oversight.
The St. Kitts and Nevis Citizenship By Investment programme, which was established in 1984 is the world’s first of its kind. The programme allows individuals to obtain citizenship through significant financial contributions or investments in government-approved real estate or development projects.
Presently, the programme requires a minimum donation of US$250,000.00 or a minimum investment of US$400,000.00.
Since coming to office, Prime Minister Drew has led a major reform of the programme to address concerns about the administration of the programme including issues related to underselling, transparency, and financial accountability.
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