KUALA LUMPUR, July 28 (Bernama) -- The Government of St Kitts and Nevis has announced further groundbreaking changes to its Citizenship by Investment (CBI) Programme, a move that signals the country’s intention to remain as the reference point for the international investment migration industry.
According to a statement, the monumental changes have been made to ensure that only high net worth investors and persons who value the citizenship of St Kitts and Nevis are attracted to the programme.
The new changes, further to those made in December 2022, are aimed at safeguarding the nation’s integrity, making the programme sustainable and preserving the privileged status of being a citizen of St Kitts and Nevis.
The Government of St Kitts and Nevis has made further sweeping changes to its CBI Programme, which include the introduction of a new investment option called the Sustainable Island State Contribution (SISC).
The SISC replaces the previous Sustainable Growth Fund (SGF) and investors contributing towards this option will be advancing St Kitts and Nevis into a Sustainable Island State based on seven pillars.
The pillars include increasing local food production; transitioning to Green Energy; diversifying the economy; attracting and supporting sustainable industries; evolving the Creative Economy; and recovering from the impacts of the COVID-19 pandemic.
Investors applying for CBI are now required to have a mandatory interview either virtually or in person at a location specified by the Citizenship by Investment Unit (CIU) and approved by the Board of Governors.
Interviews will be conducted by an independent professional firm commissioned by the CIU, who will also perform background due diligence checks, or the unit itself.
The changes aim to boost international investor confidence and bolster the twin federation’s reputation globally as it continues to demonstrate the traits that underpin its resilience, growth ambitions and willingness to cooperate with international counterparts.
St Kitts and Nevis wish to attract distinguished applicants who have demonstrated exceptional accomplishments, possess substantial investment capabilities, and are committed to making significant contributions to the country’s growth and development.
-- BERNAMA
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