The Citizenship by Investment (CBI) Programme in St. Kitts and Nevis, a key pillar of the nation’s economic strategy, is undergoing significant reforms aimed at enhancing its transparency, integrity, and sustainability.
Speaking at a recent media briefing, Prime Minister Dr. Terrance Drew highlighted his administration’s dedication to protecting and improving the CBI Programme through innovative measures.
Dr. Drew noted his government’s policy of continuous due diligence, a pioneering reform that ensures ongoing and thorough assessments of applicants and projects. This measure is designed to promptly identify and address any irregularities, strengthening the programme’s credibility.
“Our standards dictate that we ensure robust due diligence and that no questionable actors exploit our programme,” the prime minister stated.
One of the most impactful changes is the criminalisation of underselling within the CBI framework—a first in the region. The reform empowers the Director of Public Prosecutions to investigate and prosecute offenders, signalling a zero-tolerance approach to fraudulent practices.
“We are the only government in the region to make underselling a criminal offence,” Dr. Drew remarked, underscoring the importance of ethical compliance to the programme’s success.
The prime minister also addressed inherited challenges from the previous administration, led by Dr. Timothy Harris. He noted that his government acted swiftly to distance itself from questionable projects and individuals, demonstrating its unwavering commitment to transparency.
“This government remains committed to holding those who attempt to undermine the programme accountable,” he asserted.
Dr. Drew further elaborated on the responsible utilisation of CBI revenues, which have funded critical infrastructure projects, strengthened social programmes, and provided tangible financial benefits to citizens. These efforts align with the Sustainable Island State Agenda, positioning the programme as a long-term economic driver for St. Kitts and Nevis.
“It is this government that has reformed the CBI to make it more resilient and sustainable,” Dr. Drew concluded.
The reforms signal a new era for the CBI Programme, positioning St. Kitts and Nevis as a regional leader in economic citizenship while preserving its benefits for future generations.
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