Strengthening of the CBI Programme a priority of the Team Unity Government in 2021

BASSETERRE, St. Kitts, December 15, 2020 (Press Unit in the Office of the Prime Minister) - The Citizenship by Investment (CBI) Programme that continues to make a significant difference in the lives of the people of St. Kitts and Nevis as one of the major contributors to the economy will be a priority area for the Government of St. Kitts and Nevis in 2021. 
 
That assurance was given by Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, when he delivered his 2021 Budget Presentation in the National Assembly on Tuesday, December 15, 2020. 
 
Prime Minister Harris indicated that the Federation's CBI programme continues to be ranked as one of the best in the industry, noting that, “The latest Henley and Partners Passport Index ranks St. Kitts and Nevis number one in the OECS and number two in the Caribbean with visa free access for a total of 157 countries and I want to commend the Minister of Foreign Affairs for assisting in the buildout of our diplomatic footprint.”  
 
The honourable prime minister added that despite some setbacks related to the COVID-19 pandemic, the volume of applications for St. Kitts and Nevis citizenship for the year so far has improved. 
 
In 2021, the St. Kitts and Nevis Government will be more deliberate in target marketing of its CBI programme in existing and new markets, encouraging economic citizens to live, work and invest further in St. Kitts and Nevis and also implement new options and innovations to the programme such as the inclusion of the Alternative Investment option.
 
Dr. Harris said, “The Alternative Investment option can provide a mechanism to support key priority areas such as financing programmes for youth development, build out of our digital economy, upgrade of our technical and technological skill sets, meeting the huge demand for homes at the lower, middle and high end of the income ladder. We will be alert to reforms and developments in the international market place which may threaten our Platinum Brand. In this regard, we will procure services of intelligence gathering experts and persons of influence who can intervene in the critical marketplaces and capitals so as to promote and/or defend our CBI Programme.”
 
Furthermore, Prime Minister Harris said the Federation’s CBI programme continues to be a leader in innovation in the international marketplace. 
 
“Very recently, my Government took the decision to expand the reach of the programme by providing the opportunity for private homes to be sold under the CBI programme. This initiative would create opportunities for our real estate agents, giving citizens and residents of St. Kitts and Nevis the opportunity to participate in the programme if their homes meet the value threshold and other appropriate standards which would be outlined by the CBI technical committee and the various related agencies,” Prime Minister Harris stated, while noting that the development in the real estate market would add new jobs in the construction sector. 
 
To further strengthen the programme in 2021, the Team Unity administration will bring amendments to the St. Kitts and Nevis Citizenship (CBI Escrow Accounts) Bill which will ensure that clients’ funds are received and ultimately used for the construction of relevant projects. 

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