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Published: Tue 7 Mar 2023, 12:01 PM

The twin-island federation of St Kitts and Nevis recently hosted an intimate event with key stakeholders in Dubai to enlighten them on the country’s Citizenship by Investment Programme.

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In attendance was Samal Duggins, Minister of Agriculture, Fisheries and Marine Resources, Cooperatives, Entrepreneurship, and Creative Economy as well as the newly appointed Michael Martin, head of the citizenship by investment unit.

The event offered investors insight into one of the oldest and most respected investment migration programmes in the world and why investors should consider St Kitts and Nevis as an investment destination.

Investing in the right investor migration programme is important. This message is particularly relevant to the residents of UAE, who have created their home base in the Emirate states but are unable to become citizens of this booming hub. Alternative citizenship from a safe, trusted country is priceless.

The country recently announced several changes to the programme, which aim to bring an additional layer of integrity to truly accelerate the country’s economic diversification and empower and prosper local citizens while creating an enriching base for discerning investors.

Martin highlighted the importance of the changes noting “The CBI unit has also increased our team of efficient, knowledgeable, and focused experts to increase processing efficiency and accuracy while maintaining strong due diligence processes.

Earlier this month we released further updates to our CBI programme intending to ensure that the requirements of the programme are unambiguous and meet the needs of our stakeholders and prospective applicants.”

Martin spoke of the innovative investment options available for investors, like purchasing government-approved real estate or contributing to the country’s sustainable growth fund – which enables investors to benefit from perks such as minimal business restrictions and tax incentives, which include no capital gains, income, inheritance, gift, or wealth taxes.

The government is currently running an exclusive limited-time offer in The sustainable growth fund (SGF), which allows qualifying applicants to obtain their citizenship under the accelerated application process (AAP) within sixty days for a reduced contribution fee of just $1,25,000 per main applicant.

The offer runs until the end of June and from July 1, the contribution reverts to the minimum of $1,50,000 per main applicant.

Just like the UAE, Minister Duggins shared the belief that innovation is the best path to a prosperous future. His team along with the whole government administration of St Kitts and Nevis are committed to constantly improving all areas of their economy in innovative and creative ways so that they not only meet the needs of customers but achieve a decent and sustainable quality of life.

This is certainly the approach that has been taken with the upgrade of the CBI programme.

As one of the strongest economies in the Caribbean, St Kitts and Nevis’ economy is set to grow by 4.5 per cent this year according to a report by the International Monetary Fund – a testament to why investors should consider investing in the nation.

The twin island also remains in high demand as a renowned port for its exceptional tourism. Tourism remains the top foreign exchange earner for the country – with 6.3 tourists per resident, St Kitts and Nevis ranked 11th in the world for tourism numbers in absolute terms. In the Caribbean, it ranked seventh.

In 2018, Saint Kitts and Nevis generated over 300 million US dollars in the tourism sector alone, which corresponds to 42.63 per cent of its GDP and approximately one per cent of all international tourism receipts in the Caribbean.

St Kitts and Nevis continue to be the benchmark of the investment migration industry and the new changes offer eligible families and entrepreneurs the chance to gain second citizenship in one of the most beautiful, peaceful and secure nations in the world.

The programme is a solution for global citizens and is underpinned by a sustainable model filled with integrity, transparency and accountability.