In a decisive move to bolster its economic citizenship initiative, the Federation of Saint Kitts and Nevis has unveiled two transformative reforms to its Citizenship by Investment (CBI) Programme. Prime Minister Dr. Terrance Drew formally announced these strategic enhancements during a press roundtable, marking a significant evolution in the nation’s investor immigration framework.
The cornerstone reforms introduce a mandatory residency prerequisite for prospective investors and establish a comprehensive global biometric data collection system for all applicants. These measures represent the latest phase in a comprehensive overhaul initiated by the current administration since assuming governance in 2022, addressing previous criticisms regarding program integrity and valuation.
“Our administration remains unwavering in its commitment to restoring the CBI Programme’s international standing through rigorous security protocols and enhanced credibility,” affirmed Prime Minister Drew during the announcement.
Under Dr. Drew’s leadership, the program has undergone systematic modernization including substantial increases in minimum investment thresholds, strengthened due diligence mechanisms, enhanced transparency protocols, and the institutional transformation of the CBI Unit into a statutory body with independent oversight authority.
Concurrently, Saint Kitts and Nevis has pioneered the establishment of the Eastern Caribbean Citizenship by Investment Regulatory Framework. This multilateral initiative creates a unified regulatory authority among participating Organisation of Eastern Caribbean States (OECS) members, mirroring the collaborative governance model of the Eastern Caribbean Central Bank.
“These strategic advancements simultaneously reinforce program security while facilitating sustainable economic development,” concluded Dr. Drew, emphasizing the dual objectives of the reforms.