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BASSETERRE, ST. KITTS – April 8, 2025 — In what is being described as one of the most dramatic and destabilizing developments in the history of the Citizenship by Investment (CBI) industry, the Government of St. Kitts and Nevis has permanently blacklisted two of the most respected and influential CBI agents in the world — RIF Trust and Latitude Consultancy.

The shocking announcement, issued in an official press release by the Ministry of National Security on April 7th, 2025, also included the revocation of citizenships from 13 individuals and their dependents, marking yet another crushing blow to a programme already in steep decline.

Both RIF Trust and Latitude Consultancy are widely known as flagship agencies in the global CBI market, celebrated for their professionalism, global presence, and long-standing reputation for integrity. The decision to blacklist them—permanently banning their involvement in any future CBI-related activities in St. Kitts and Nevis—has sent shockwaves through diplomatic, legal, and investment migration circles.

The blacklisting and revocations stem from a comprehensive investigation into 158 CBI applications tied to both firms. Authorities discovered instances of misleading investment offers below the statutory minimum, and applicants receiving false assurances of special discounts, resulting in what the Ministry described as “willful deception” and “false representation.”

While 32 applicants have since settled their dues, 13 made no attempt to comply, leading to the issuance of the Saint Christopher and Nevis Citizenship (Deprivation of Citizenship) Order, 2025, under Sections 8 and 10 of the Citizenship Act.

But industry insiders and critics say this latest crackdown only deepens an already growing crisis within the St. Kitts and Nevis CBI Programme. The move follows a string of ill-advised policy changes rolled out in 2023 that destabilized the programme and triggered a massive collapse in 2024, with application volumes reportedly plunging by nearly 50%.

Once hailed as the “platinum standard” of CBI offerings globally, the SKN Programme has struggled to recover from the fallout. This latest decision—targeting two of the most high-profile and trusted CBI agents globally—is being seen as a desperate and self-inflicted blow that is accelerating the programme’s downward spiral.

Industry analysts warn that the government’s heavy-handed approach is amplifying investor concerns about transparency, political interference, instability, and gross mismanagement.

“Blacklisting respected global agents while citizenship applications are already plummeting sends the wrong message,” one international CBI advisor stated. “It signals that the programme is becoming unpredictable and toxic, and investors don’t want to gamble with their future.”

As questions mount over the future viability of the St. Kitts and Nevis CBI Programme, the Drew Administration faces increasing pressure to reverse course and restore credibility before the nation’s flagship economic offering becomes a relic of the past.

This is a developing story. Stay tuned for further updates and expert analysis.