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London, United Kingdom (January 23, 2025) – Prime Minister of St. Kitts and Nevis, Dr. Terrance Drew, continued his high-profile overseas engagements with his latest trip to London, England, from January 20-22, 2025. Leading a delegation, PM Drew participated in the ‘Future of Citizenship by Investment’ dialogue at Wilton Park, focusing on reviving the nation’s beleaguered Citizenship by Investment (CBI) programme.

The dialogue, attended by leaders from Eastern Caribbean nations, academic experts, and global stakeholders, addressed key challenges and opportunities in the investment migration industry. Discussions included clarifying concerns surrounding CBI programmes, strengthening processes, and defining the long-term vision for these initiatives.

The St. Kitts and Nevis CBI programme, once a benchmark in the industry, has faced significant setbacks following policy changes under the Drew administration. These changes led to a drop in application volumes and eroded programme credibility. Compounding the difficulties, a group of Russian investors is demanding refunds for investments after the revocation of their citizenship, prompted by sanctions against Russia.

Accompanied by Attorney General Garth Wilkin and Calvin St Juste, Chair of the Citizenship by Investment Unit’s Board of Directors, PM Drew also engaged in high-level meetings to address these issues. A notable focus of the discussions was the proposed regional regulator for CBI programmes, to be coordinated by the Eastern Caribbean Central Bank and funded through CBI revenues.

In a panel of Caribbean heads of government, leaders shared progress reports and strategic visions for the future of their CBI programmes. The event underscored the need for a united approach to address emerging risks, restore international credibility, and ensure long-term sustainability.

The Drew administration’s efforts to rebuild the CBI programme mark a critical juncture for St. Kitts and Nevis, as the government grapples with restoring investor confidence and maintaining the programme’s role in national economic development.