The election results break a mandate lasting 20 years by the St. Kitts and Nevis Labour Party.

Team Unity, the new coalition Government, is made of members of three different parties: the People’s Action Movement, the Concerned Citizens Movement and the People’s Labour Party which won 7 of the 11 seats in the parliament.

The fact that the economist Dr. Timothy Harris is the jurisdiction’s new prime minister bodes well for the continuation of foreign direct investment in St. Kitts.

One of these investments should necessarily be the extremely successful Citizenship Program of St. Christopher (St. Kitts) which was established in 1984 as one of the world’s first citizenship-by-investment programs.

The last firm with international expertise in the citizenship and residence field to optimise the program was Henley and Partners which helped revamped it in 2010, on the eve of the closure of the Sugar Industry.

One of the strengths of the program is that successful applicants gain Schengen Visa Free status to travel to most EU countries.

The program requires applicants to make an economic contribution to the country. In exchange, they and their families are granted full citizenship.

To qualify for citizenship, the applicant must make either an investment of at least US$ 400,000 in one of the approved real-estate developments on the island in addition to paying government fees, other fees and taxes, or alternatively making a contribution to the Sugar Industry Diversification Foundation (SIDF, a public charity) starting from US$ 250,000 (for a single applicant). However, this includes all government fees.

The regulations regarding citizenship-by-investment in St. Kitts & Nevis are contained in Part II, Section 3 (5) of the Citizenship Act, 1984. These provisions allow the government to operate a program under which citizenship is granted to persons who qualify under criteria set by cabinet decision.

Money from affluent HNWI investors are also being channelled into a range of tourism projects. In exchange for the country’s passport, foreigners are asked to make a minimum of a $400,000 investment in such government approved projects.

According to Forbes Magazine, the Caribbean’s answer to Steve Jobs, Trinidadian entrepreneur Val Kempadoo, has used some of these funds to mastermind one of the island’s most anticipated hotel openings: the Belle Monte Farm.

It boasts 84 guesthouses and 7 four-bedroom farmhouses, is eco-friendly and sustainable.

The resort, which opened in December, is part of a 400-acre Kempadoo project on organic farmland known as Kittitian Hill.

Kempadoo was the first developer in St. Kitts to use the program to fund a project and 85% of his investors have come via the program.

Middle East and Chinese investors have also been drawn to the St. Kitts citizenship-by-investment program, invited to invest in a number of prime developments such as Prime Hotel & Condominiums, a seven-acre project worth over $70 million on the island.

The development is made up of nine, eight-floored buildings, two of which will be hotel apartments, while the remaining will be 1-bedroom residential condominiums (32 units per building).

Investors in St. Kitts who meet the requirements will become lifetime citizens of St. Kitts & Nevis within just four to six months with no requirement to live on the island. There are also a number of generous tax benefits such as no tax on income, capital gains, gifts, wealth and inheritance.

A St. Kitts passport also allows investors to travel to over 130 countries worldwide including the UK, Europe, Hong Kong and most Commonwealth countries.