BASSETERRE, St. Kitts, CMC – The St. Kitts and Nevis government says it is introducing two new reforms to the country’s Citizenship by Investment (CBI) Programme that allow foreign investors to attain citizenship in return for making a substantial investment in the socio-economic development of the twin-island Federation.
Prime Minister Dr. Terrance Drew, speaking on the “Roundtable” programme with reporters, said that the new initiatives are intended to strengthen the security of the CBI programme and attract reputable, credible investors.
He said the first measure will enable the implementation of a residency program for investors, while the second will allow the collection of biometric data from potential citizens worldwide.
“We are serious when we say that we will make sure that we do what we have to do to put this CBI programme in good standing,” said Dr. Drew.
Last December, United States President Donald Trump issued a new executive order that directly affected citizens of Antigua and Barbuda, Dominica, and Haiti.
Trump said some of the countries identified in an earlier proclamation had offered CBI programmes without residency requirements, which pose challenges for screening and vetting.
Trump said both Antigua and Barbuda and Dominica have “historically had CBI without residency” and that the entry into the United States of nationals of these two countries as immigrants, and as nonimmigrants on B-1, B-2, B-1/B-2, F, M, and J visas, is hereby suspended.
Prime Minister Drew told reporters that the new measures announced by Basseterre are among a series of significant changes implemented since 2022 and that his government proactively sought to repair the reputation of the CBI programme, which was mired in reports of underselling and other troubling issues.
He said international organisations and countries expressed serious concerns about practices within the programme.
“We have taken strict measures by increasing the minimum investment; strengthened further our due diligence, making sure that the processes are transparent; we have shifted our CBI Unit to become a statutory body to have proper oversight, and now we are making two more significant advancements,” Drew said.
Additionally, the twin island Federation led efforts to establish the Eastern Caribbean Citizenship by Investment (CBI) Regulatory Framework that protects and modernises the vital economic sector.
The framework established a shared regulatory authority among participating Organisation of Eastern Caribbean States (OECS) members, modelled on the cooperative structure of the Eastern Caribbean Central Bank.
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