IMF report shows growth for St Kitts and Nevis

IMF report shows growth for St Kitts and Nevis

St Kitts and Nevis has shown a projected growth of 4.5 per cent due to the country’s Citizenship by Investment (CBI) Programme as indicated by the latest International Monetary Fund (IMF) report. 

 

 

This growth for St Kitts and Nevis is supported by a steady recovery from the tourism sector. Under the leadership of Prime Minister, Honourable Dr Terrance Drew, has made well-considered changes to the country’s investment migration programme.

Attempts to transform the economy into a sustainable island state are underway. Prime Minister Drew highlighted that the CBI is also designed to generate significant revenue.

The aim is to create a diverse economy that: 

  • Promotes entrepreneurship
  • benefits from profitable job creation, and
  • increases homeownership.

Specifically, the expected growth in St Kitts and Nevis’ real GDP is 5.9 per cent for 2023.

CBI will invite top-notch investors

St Kitts and Nevis is a two-island small, yet rich economy with tourism being the island’s largest contributor to their GDP, followed by the CBI Programme, agriculture, medicinal cannabis industry, construction and manufacturing sectors.

Prime Minister Drew, said that his administration would

“use the CBI revenues to fuel our plans to implement a diversified economy”.

The Prime Minister emphasised the significance and benefits of St Kitts and Nevis CBI Programme and the importance of due diligence in ensuring that the country’s programme remains reputable globally.

He added “Our citizenship is precious; therefore, the evolved CBI Programme will invite bold and creative top-notch investors to our shores who will develop innovative industries in St Kitts and Nevis, the construction of 18 real estate developments pursuant to our government’s priority infrastructure list, and in all things, bring substantial benefit to the people of St Kitts and Nevis. This evolution is perfect for our investors to explore real estate development opportunities through their CBI Programme.

World’s first Sovereign Wealth Fund

St Kitts and Nevis government is looking to develop a Sovereign Wealth Fund should their financial projections materialise. This will be the world’s first Sovereign Wealth Fund through the CBI Programme.

The Fund will be used as a long-term investment vehicle in international markets and industries and will be managed by high-level authorities and a thorough policy to ensure the funds are directed intentionally towards disaster management.

Investors will have the opportunity to improve the country’s healthcare system, and social services, develop public infrastructure including energy and water security for all the Kittitian and Nevisian population, as well as digital transformation.

CBI opportunities

Accordingly, this growth for St Kitts and Nevis illustrates how many people are choosing to make the country their home.

St Kitts and Nevis has been a pioneer of the global investment immigration industry for over 30 years, and it continues to use revenue generated from its CBI Programme to prosper locals and international investors.

Prospective entrepreneurs can apply to become a citizen of St Kitts and Nevis in four ways:
  1. Contributing towards the country’s Sustainable Growth Fund (SGF)
  2. Investing through the pre-approved real estate
  3. Private Home Sale Investment
  4. The Public Benefit Option

Also Read: St Kitts and Nevis Citizenship by Investment Programme and 2023 Updates to St Kitts and Nevis CBI Regulations 

 

 

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