Saint Kitts and Nevis’ Increased Economic Development through the CBI Program
While citizenship and residency by investment programs have been of tremendous benefit to foreign investors seeking to live a better life and broaden their business opportunities, it is beyond any doubt that these programs have also been a great avenue for economic growth and development for countries offering them. No wonder why the number of countries affording their citizenship or residency in exchange of investment has been expanding, the latest being Moldova and Montenegro.
Saint Kitts and Nevis’ citizenship by investment program, for example, has proved to be a revenue source for Saint Kitts and Nevis. The country has been actively working towards the betterment of the program as one of the most affordable, prestigious and innovative programs since its establishment in 1984. Such efforts have been fruitful as more and more foreign investors are showing interest in Saint Kitts and Nevis’ thriving investment program which has in turn yielded substantial economic benefits to the country.
Dr. Timothy Harris, the Prime Minister of Saint Kitts and Nevis, has recently attributed the country’s ongoing economic progress as well as the financing of various projects to the citizenship by investment program. It has been due to the implementation of this program that the salary of the public sector workers has doubled, the national GDP has saw an increase, and the tourism sector has boomed (as foreign investors visit the country for business or leisure), Harris observed. The introduction of the Sustainable Growth Fund earlier this year has specifically been considered a key factor fostering Saint Kitts and Nevis’ further economic prosperity in 2018. This new investment alternative which channels investment funds to areas such as health, education, infrastructure, tourism and culture and serves as an easy, fast and straightforward route to Saint Kitts and Nevis’ citizenship has been embraced by foreign investors. Under this investment option, investors may acquire Saint Kitts and Nevis’ citizenship in a matter of 60 days by making a contribution of $150,000 to the government fund. Completing the application process, they can guarantee themselves Saint Kitts and Nevis’ citizenship without the need to meet residency, interview and language requirements.
The government has pledged to continue its efforts in enhancing the program through a series of legislative developments in order to maintain its status as the originator of the CBI programs and one of the leading countries in the industry. Accordingly, foreign investors will be privileged to take advantage of one of the finest programs. For more information on the Sustainable Growth Fund alternative and other available options, you can contact us at [email protected]