Under the leadership of the Honourable Dr Terrance Drew, the Citizenship by Investment (CBI) Programme in St Kitts and Nevis is undergoing transformative innovations. The Programme has implemented stringent regulations and strategic collaborations to strengthen its integrity. Additionally it aims to drive positive change in citizens’ lives and attract foreign investment.
These innovations aim to enhance its integrity and align it with the highest standards for citizenship.
Stringent Regulations and Holistic Approach
In his 2024 Budget Address, Honourable Dr Drew highlighted the administration’s commitment to the CBI Programme as stewards.
They have implemented stringent regulations, including mandatory application interviews and introduced the Sustainable Island State Contribution (SISC).
The SISC is an investment option that supports the economic and social development of St Kitts and Nevis. It does this through a strategic focus on seven prioritised pillars.
These include enhancing local food production; green energy transition; economic diversification; attracting sustainable industries; fostering the creative economy; post recovery from the Covid-19 pandemic; and expanding social protections for the vulnerable.
Discerning investors can contribute to the nation’s development through the SISC. This investment option offers a sustainable and secure option for those seeking to make a feasible investment.
All contributions are directed to the Federal Consolidated Fund.
This comprehensive approach goes beyond economic considerations. It encompasses a commitment to improving citizens’ lives through investments in education, resilient infrastructure, and the green energy transition.
Proactive Measures to Fortify the CBI Programme
The Prime Minister emphasised the administration’s proactive stance in collaborating with international partners to fortify the CBI Programme against future risks.
This strategic vision reflects a commitment to maintaining the Programme’s resilience and effectiveness, steering away from complacency.
Anticipating Foreign Direct Investment through CBI
Honourable Dr Drew expressed confidence in the CBI Programme’s continued role as a major driver of foreign direct investment in the economy of St Kitts and Nevis.
The Prime Minister specifically highlighted the anticipation that investors would capitalise on recent changes to the Programme’s regulations and legislations..
Revitalising Real Estate Development Through CBI
Since the adjustment to the real estate option, the St Kitts Investment Promotion Agency (SKIPA) has experienced renewed interest from developers.
These developers engage in hotel, condominium, and villa construction projects, including those that were previously stalled or incomplete.
‘Discover the Opportunities’ Campaign
To harness this renewed interest, SKIPA is actively collaborating with existing developers through its ‘Discover the Opportunities’ campaign.
This marketing initiative is designed to attract investment funds and support the completion of these real estate projects, further contributing to the economic growth of St Kitts and Nevis.
SKIPA takes a proactive approach in marketing St Kitts as an appealing investment destination on an international, regional, and local scale.
The agency is focused on attracting investors who align with the long-term development goals of St Kitts.
Their mission involves actively promoting and securing strategic investments for the country, facilitating the establishment and growth of both local and foreign investment projects.
Additionally, SKIPA advocates for ongoing development and improvement of the investment environment in St Kitts.