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In a landmark year, St. Kitts and Nevis has generated an impressive $280 million from its Citizenship by Investment (CBI) Programme, currently ranked as the Caribbean’s #1 CBI program in the 2024 CBI Index. This significant revenue provides ample resources for PM Dr. Hon. Terrance Drew to fulfill his campaign promise of distributing dividend payments to Social Security contributors, a promise that brings direct financial benefits to the citizens.

Here’s an estimated breakdown of how the dividend payments would work:

Total CBI Revenue: $280 Million

Estimated Number of Eligible Contributors:

Approximately 23,421 individuals currently contribute to Social Security, making them eligible for the dividend payments.

Proposed Dividend Payment per Contributor:

Each eligible contributor would receive a dividend of $500 every six months, distributed twice a year.

Annual Cost of Dividend Payments:

Cost for One Payment Round (Six Months):
$500 x 23,421 = $11.7 million

Total Annual Dividend Cost (Two Payment Rounds):
$11.7 million x 2 = $23.4 million

Revenue Remaining After Annual Dividend Payments:

Starting with $280 million in total CBI revenue:

$280 million – $23.4 million = $256.6 million

This calculation shows that after fulfilling the annual dividend payment promise, a substantial $256.6 million would remain from the CBI revenue, leaving more than enough to support other national initiatives and investments. This proposal illustrates that the government can meet its commitments while also maintaining strong financial reserves.

With this windfall, PM Dr. Terrance Drew is well-positioned to honor his pledge to the nation, directly benefitting hardworking citizens who contribute to Social Security. This substantial dividend plan reinforces the Prime Minister’s vision of redistributing economic gains back to the people and enhancing financial stability for St. Kitts and Nevis.