St Kitts and Nevis’ government announces that 900 families have benefitted from assistance through the Hurricane Relief Fund – the brainchild of Prime Minister Timothy Harris. A cash injection worth $11.5m has so far helped those affected by Hurricane Irma and Maria restore their homes.
The funds come from the country’s popular citizenship by investment (CBI) programme – a concept introduced to the world by St Kitts and Nevis in 1984 whereby investors can obtain the citizenship of this well-connected twin-island nation in exchange for a significant contribution to the country’s economy.
Until recently, one such route was an investment into the Hurricane Relief Fund – a 6-month initiative that proved extremely popular among investors wishing to support the country through the challenging hurricane season.
Following the success of the Hurricane Relief Fund, Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF), which aims to enhance the quality of education on the twin-islands, boosts St Kitts and Nevis’ already booming tourism sector, supports indigenous entrepreneurship, and helps develop many other socio-economic initiatives to benefit its citizens.
“Many investors prefer making a contribution to the Sustainable Growth Fund, which is the faster and more affordable route to St Kitts and Nevis’ citizenship,” says Paul Singh, Director of CS Global Partners, an international, industry-leading, award-winning legal advisory firm specialising in citizenship and residence solutions.
The Sustainable Growth Fund is especially attractive for larger families
For an investment of US$150,000 per main applicant or US$195,000 for a family of four, the Sustainable Growth Fund is especially attractive for larger families looking for stability and businesspersons seeking hassle-free travel to over 150 countries and territories, including the Schengen Area and business hubs like Singapore, Hong Kong and London.
St Kitts and Nevis is renowned for forging extensive diplomatic ties and its efforts have paid off, as highlighted in the latest CBI Index – an independent study published by the Financial Times’ Professional Wealth Management. St Kitts and Nevis’ CBI Programme, considered the Platinum Standard of the industry, earned its place on the CBI podium, ranking number one with respect to ease of processing, convenient travel and residence requirements, and due diligence.
As political turmoil creates ever more uncertainty around the world, it seems the concept of acquiring dual nationality through investment offers a solution to both St Kitts and Nevis’ current nationals and its newly adopted economic citizens.