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The decline in revenues from the Citizenship by Investment (CBI) program in St. Kitts and Nevis, compared to other Caribbean nations, stems from several recent policy and competitive shifts in the region. St. Kitts and Nevis, previously a frontrunner in the CBI industry, has seen a drop in its appeal due to policy adjustments that some investors perceive as less attractive under the current administration. These changes, including alterations to investment requirements and program terms, have affected the program’s competitiveness in the global and regional markets.

In contrast, other Caribbean nations like Dominica, Grenada, and Antigua and Barbuda have made their programs more accessible by reducing minimum investments, offering more diverse investment options (such as Grenada’s E-2 visa route to the U.S.), and streamlining application processes. These programs appeal to high-net-worth individuals looking for visa-free travel, tax benefits, and easier pathways to North American and European markets. For example, Dominica and Grenada are positioned to attract a broader investor base with lower costs and additional benefits, which has helped them maintain and even grow their revenue streams.

Additionally, transparency, public reporting, and consistent updates from programs like St. Lucia’s CBI have bolstered confidence among investors, further drawing attention away from St. Kitts and Nevis. The lack of competitive reforms and transparency in St. Kitts and Nevis has discouraged potential investors who now have multiple options across the region that offer similar or better benefits at a lower cost.

For St. Kitts and Nevis to regain its standing, experts suggest it may need to re-evaluate the program’s terms, enhance transparency, and consider strategic reforms that align with investor expectations and regional competition standards.