Prime Minister Drew’s Reforms Strengthen St. Kitts and Nevis’ CBI Programme for Sustainable Growth

At the Budget 2025 National Forum, Prime Minister and Minister of Finance Dr. Terrance Drew underscored his government’s decisive efforts to safeguard the Citizenship by Investment (CBI) Programme, a critical revenue stream for St. Kitts and Nevis. Following years of mismanagement by the previous Dr. Timothy Harris-led administration, the Drew government has implemented substantial reforms, restoring the programme’s integrity and positioning the Federation as a regional leader in CBI reform.

Since taking office, Dr. Drew’s administration has faced the challenge of stabilising the CBI Programme, which had suffered from insufficient oversight and questionable practices.

“Over the past two years, our administration has been working assiduously to protect the gains and integrity of our CBI Programme,” Dr. Drew stated at the Budget 2025 National Forum on 30th October. “Our boldness and determination have placed St. Kitts and Nevis as a leader in the regional CBI arena by championing the reform agenda for CBI business.”

Under Dr. Drew’s leadership, the government has introduced several legislative and administrative reforms aimed at ensuring the long-term stability of the CBI Programme. In collaboration with OECS prime ministers, the US Treasury Department, and the Eastern Caribbean Central Bank, St. Kitts and Nevis has established six core principles for CBI operations across the region. These principles include standardised treatment of denials, enhanced applicant screening through Financial Intelligence Units, and mandatory independent audits of Citizenship by Investment Units. The reforms also entail suspending applications from Russian and Belarussian nationals and a strict retrieval process for cancelled passports.

Dr. Drew highlighted the role these collaborative efforts have played in enhancing the CBI’s credibility and appeal, noting, “Our programme is now set to again deliver real benefits to the people of this country, that is, real jobs and viable economic opportunities. We believe that the Citizenship by Investment Programme is an important vehicle for the continued development of our beloved Federation.”

Prime Minister Drew’s reforms have already produced tangible improvements in the Programme’s reputation, restoring confidence among investors and positioning the Federation as a model of responsible CBI governance. The administration’s unwavering commitment to transparency and sustainable economic opportunities marks a new era for the CBI, solidifying St. Kitts and Nevis’ leadership within the OECS and driving growth for the Federation’s future.