The Caribbean Island of St Kitts and Nevis has seen significant changes to the fabric of the nation under the leadership of Prime Minister Terrance Drew and his administration.
The island has shown a positive shift towards citizen-centric policies and projects, which seek to improve the quality of life of people in the twin island federation.
One of the key contributors to this cause has been the nation’s Citizenship by Investment Programme, which is now headed by Michael Martin.
Martin, under the guidance of PM Drew, has been able to revamp the programme and maintain it as the premier choice for High-Net-Worth Individuals who are seeking options for citizenship, investment or both.
St Kitts and Nevis’s Need for Sustainability
Prime Minister Terrance Drew led the government of St Kitts and Nevis and came to the realisation early on that the nation was crying out for a shift towards sustainable commercial and residential infrastructure.
This is down to the fact that the Caribbean region has been ravaged by hurricane and tropical storm activity time and again. Thus, the obvious choice to be made was to pursue projects which are climate resilient and can bear the brunt of the elements when weather conditions are extreme.
St Kitts and Nevis is also among the list of countries which are looking to approach their needs in terms of energy production in a sustainable manner. By doing so, the government of St Kitts and Nevis is looking to make a sizable contribution to the fight against climate change, an issue that is of great significance to the nation and the region.
If St Kitts and Nevis manages to achieve its goals in terms of sustainability, it will have set an example for larger and more powerful nations to follow, becoming a shining example of what can be achieved if nations truly intend to make sustainability a priority.
Through this two-pronged approach, the government of St Kitts and Nevis could potentially change the way the nation functions for the better and make an impact that will have a lasting effect on both the nation and the region.
St Kitts and Nevis is deeply invested in conserving the environment, so as to provide a good atmosphere for future generations to prosper in and maintain the viability of the nation as a prime eco-tourism, honeymoon and holiday destination.
The Significance of the Citizenship by Investment Programme
The CBI Programme of St Kitts and Nevis has been the benchmark in the field in recent times and is seen as one of the most significant contributors to many of the government’s citizen-centric policies and schemes.
Being a small nation with limited resources, St Kitts and Nevis has shown the ability to establish and maintain the CBI Programme excellently, allowing the nation to fund many endeavors that are meant to enhance the lives of its citizens.
St Kitts and Nevis’s push for sustainability has been largely supported by the proceedings from the programme, which has helped prop up and support many other important sectors in the nation as well.
In fact, the Citizenship by Investment Programme of St Kitts and Nevis is one of, if not the largest source of capital for the nation.
Naturally, the government and the CIU of St Kitts and Nevis have ensured that every possible measure is taken to maintain the efficacy and integrity of the programme, as failing to do so can impact the nation in more ways than one.
This is why the government of St Kitts and Nevis has invested it time, effort and capital in the programme, making sure that it is as robust as it could possibly be, setting a standard for competing nations in the process.
Improvements made to the CBI Programme
The government of S Kitts and Nevis has taken important steps to make improvements to the Citizenship by Investment Programme, through which the programme can maintain its standards, while continuing to fund the most vital projects that the nation is working on.
To facilitate this, the PM Terrance Drew-led government has made alterations to the Citizenship by Investment Unit, which is largely responsible for the smooth functioning of the programme.
The initiative began with the sacking of the former Head and CEO of the CIU, Les Khan, who had developed a reputation for undercutting prices, committing fraud and gross misconduct. He was reportedly involved in close ties with Caribbean Galaxy through former Prime Minister Timothy Harris.
From the government’s perspective, removal of Khan was done to give the programme a clean slate and refurbish the administration that oversees it, to make it more efficient and transparent.
To achieve this goal, Prime Minister Terrance Drew oversaw the appointment of Michael Martin as the new head of the programme. According to reputable sources, Michael Martin has shown himself to be an excellent leader and administrator who has the qualities necessary to ensure that the CBI Programme of St Kitts and Nevis adheres to the highest standards in the industry, making it an invaluable part of the nation’s future.
New Policies and Security Measures
Since stepping into his role as the Prime Minister of St Kitts and Nevis, Terrance Drew has overseen multiple changes which helped place St Kitts and Nevis at the top of the 2023 CBI Index.
On the 27th of July, 2023, St Kitts and Nevis decided to replace the Sustainable Growth Fund (SGF) with the Sustainable Island State Contribution (SISC).
The Sustainable Island State Contribution.
Providing discerning investors with the option to contribute to their new nation.
— St Kitts and Nevis Citizenship by Investment Unit (@stkittsnevisciu) October 20, 2023
Following this, the decision was made to give the CBI Programme a stronger footing by raising the prices for single applicants who are now required to invest USD $250,000 as their contribution to the programme when seeking citizenship in St Kitts and Nevis.
One of the primary benefits of this change is the fact that it makes it harder for bad actors to sneak through the security measures and also ensures that only those individuals who share the ideals of sustainability and prosperity for St Kitts and Nevis get the opportunity to apply though the programme.
The St Kitts and Nevis CBI Programme implements strict due diligence processes in full compliance with national legislation and international standards.
— St Kitts and Nevis Citizenship by Investment Unit (@stkittsnevisciu) January 10, 2024
Through the efforts of Michael Martin, the CBI Programme of St Kitts and Nevis has also managed to expand its remit with regards to security measures and due diligence.
On the 25th of February, 2023, the United States and 5 Caribbean nations which have recognised CBI Programmes sat down to discuss how they must proceed with CBI Policies with an eye on the future.
Following a fruitful conversation with the other parties involved, St Kitts and Nevis made the decision to make interviews mandatory for CBI applicants and dependents over the age of 16, thus adding another level of security to the programme.
Navigating the Citizenship by Investment landscape just got easier!
Whether you're seeking expert advice or connecting with us, we've got you covered.
— St Kitts and Nevis Citizenship by Investment Unit (@stkittsnevisciu) January 18, 2024
St Kitts and Nevis have also stated that applicants whose visa applications have previously been rejected by nations which offer visa-free entry to residents of St Kitts and Nevis are not eligible for the nation’s CBI Programme.
The CIU of St Kitts and Nevis has taken additional steps to strengthen the due diligence conducted, by making use of international firms which have considerable expertise in the field. By doing so, St Kitts and Nevis has made the due diligence process even more robust and now has firms based in the United States, the United Kingdom and other parts of Europe at its disposal to ensure that the process is bullet proof.
Other measures also include the barring of applicants from Afghanistan, Iran, Iraq, Russia, Belarus and North Korea, as well as making it compulsory for an applicant to collect his Certificate of Registration physically from St Kitts and Nevis or an embassy or consulate, depending on the preference of the CIU.
The CIU no longer accepts siblings and grandparents of applicants as dependents and has revised the age for parents to be considered dependents to 65 years or above.