KUALA LUMPUR, March 26 (Bernama) -- St Kitts and Nevis’ International Trade Minister, Lindsay Grant recently recognised its Citizenship by Investment (CBI) Programme which fuelled several key economic sector development.
CS Global Partners is the international legal advisory, mandated by the twin island government to promote the programme worldwide.
Grant highlighted revenue from the government’s newest CBI investment channel - Sustainable Growth Fund - which benefited education, sustainability, infrastructure and tourism areas.
Specifically, the revenue was used to support sustainable growth initiatives, education, climate change resilience, economic growth, infrastructure development, medical facilities enhancement, tourism development, and culture and heritage preservation.
St Kitts and Nevis Prime Minister Timothy Harris has also praised the programme’s “incredible success” during his most recent annual budget address, noting that it gave the government the “fiscal space” to implement a series of initiatives.
Among the initiatives is the Poverty Alleviation Programme, providing households earning less than EC$3,000 per month with a EC$500 aid. (EC$1 = RM1.51)
Several infrastructural developments that support locally-sourced materials, servicing and employment are also partly funded by the CBI Programme.
St Kitts and Nevis has been running its CBI Programme since 1984, making it the longest-serving and most experienced in the world.
It provides eligible global investors and their families with a second citizenship of a well-connected, prosperous country, with the prospects of passing down citizenship to all future generations.
All applicants are subjected to thorough due diligence checks, which now include digital fingerprinting – the first amongst Caribbean CBI jurisdictions.
-- BERNAMA
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