Tweet

BASSETERRE, Saint Kitts (April 7, 2025) — The beleaguered Citizenship by Investment (CBI) Programme of St. Kitts and Nevis has taken yet another crippling hit as the Drew administration moved to revoke citizenships, permanently blacklist two major international marketing agents, and terminate all government ties with controversial investor Phillipe Martinez and his MSR Media operations.

While the Government touts the crackdown as a bold step to protect the integrity of the CBI Programme, critics say this latest wave of punitive actions marks another chapter in the rapid unraveling of what was once considered the “platinum standard” of global citizenship programmes.

The revocation of 13 citizenships—linked to unpaid investment contributions—and the blacklisting of Latitude Consultancy and RIF Trust, accused of peddling discounted investment options, comes as the CBI sector reels from multiple missteps made under the current administration.

Industry observers point to a series of ill-advised and destabilizing decisions by Prime Minister Dr. Terrance Drew’s administration that have left the programme in tatters:

• A sudden and controversial change in minimum investment thresholds, which caught many by surprise and dissuaded potential investors;
• The appointment of a convicted fraudster as a sole developer and benefactor under key investment projects, triggering international outcry and reputational damage;
• And the abrupt removal of the CEO of the Citizenship by Investment Unit (CIU), raising questions about internal instability and leadership vacuum.

Combined, these actions created an environment of uncertainty, controversy, and diminished trust in a programme that once commanded global respect.

“It’s been blow after blow,” said a former CBI advisor. “Investors don’t want drama—they want certainty, credibility, and professionalism. Right now, they’re getting the opposite from St. Kitts and Nevis.”

As a result, many high-net-worth individuals have reportedly shifted their focus to less volatile jurisdictions like Antigua and Barbuda and Grenada, where policy continuity and investor confidence remain relatively intact.

The termination of the agreement with MSR Media SKN Ltd and MSR Hotels & Co. Ltd—companies run by Phillipe Martinez—only adds to the drama. Government officials cited breaches of contractual obligations, including failure to complete tourism projects, hire locals, and deliver promised film productions. They further accused the MSR entities of launching an international smear campaign against the programme and its officials—an act described by insiders as “the final straw.”

In response, the Government issued the Saint Christopher and Nevis Citizenship (Deprivation of Citizenship) Order, 2025, enforcing revocations and reinforcing what it claims is a zero-tolerance stance on abuse of the programme.

But critics argue that such enforcement—though necessary—comes too late and serves only to highlight the chaotic management and erosion of credibility that has plagued the CBI programme under the Drew administration.

“This move, while framed as a cleanup, is yet another symptom of a programme in free fall,” a regional CBI analyst noted. “St. Kitts and Nevis needs to rebuild trust and leadership from the ground up if it hopes to compete again.”

For now, the Federation’s once-prized passport is under siege—from within and without—as the international community watches to see if the Drew administration can rescue a programme many say is already on life support.