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St.Kitts Blacklists International Marketing Agents

Prabhu Balakrishnan
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St.Kitts Blacklists International Marketing Agents

The Government of St.Kitts and Nevis (GOSKN) has taken decisive action to protect the integrity of its CBI Programme by permanently blacklisting licensed international marketing agents (IMA) from all CBI-related activities as they have transgressed the laws of the country.

“This decision, effective immediately, follows a thorough investigation that uncovered persistent and substantial violations of the Programme’s regulations”, said a press release issued by Government..

In a recent press release, the GOSKN enacted a Zero-Tolerance Policy to eliminate unethical practices within its Citizenship by Investment (CBI) Programme. Any entity found underselling, misrepresenting, or engaging in unauthorised marketing of the Programme will face immediate blacklisting and legal action under St. Kitts and Nevis

The decision to permanently blacklist these transgressors from all St. Kitts and Nevis CBI activities emanates from the substantiated breaches of the Programme’s regulations. law.

The Government statement said, “The recent blacklisting of IMAs is a decision that signals the Government’s unwavering stance on accountability and regulatory enforcement. The investigation revealed clear breaches of the Programme’s stringent guidelines, necessitating immediate and permanent action to protect the credibility of the nation’s economic citizenship framework.”

The decision to permanently blacklist these transgressors from all St. Kitts and Nevis CBI activities emanates from the substantiated breaches of the Programme’s regulations.

The Citizenship by Investment Unit (CIU) will increase its oversight to ensure that all authorised agents, service providers, and stakeholders adhere strictly to the legal and ethical guidelines governing the Programme.

The following actions will be taken against any entity or individual violating the policy:

• Legal prosecution under St. Kitts and Nevis laws, ensuring accountability and deterrence.
• Automatic blacklisting, permanently barring them from any future association with the CBI Programme.

The decision to permanently blacklist these companies reinforces the country’s commitment to upholding the highest standards of governance in the investment migration industry. As the CBI Programme of St. Kitts and Nevis continues to evolve, the Government remains dedicated to innovation, security, and excellence.

CBI Nations Listed in EU Tax Blacklist

Prabhu Balakrishnan
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CBI Nations Listed in EU Tax Blacklist

The EU has published list of uncooperative tax jurisdictions for the year 2025, under the new updated list published in Feb 2025.

Among the listed countries, Turkiye, Vanuatu and Antigua & Barbuda run citizenship by investment programs.

  • Vanuatu has been listed as uncooperative tax jurisdiction
  • Turkiye has been listed in list of cooperative tax jurisdiction.
  • Antigua and Barbuda has been moved from list of uncooperative countries to cooperative countries list.

Uncooperative

No new jurisdictions were added to the list of non-cooperative jurisdictions (Annex I), which currently comprises 11 third-country jurisdictions:

  • American Samoa,
  • Anguilla,
  • Fiji,
  • Guam,
  • Palau,
  • Panama,
  • Russian Federation,
  • Samoa,
  • Trinidad & Tobago,
  • US Virgin Islands, and
  • Vanuatu.

Cooperative

Eight jurisdictions have made commitments to improve their tax governance frameworks, which are registered in the list of cooperative jurisdictions (Annex II). These jurisdictions include

  • Antigua and Barbuda,
  • Belize,
  • British Virgin Islands,
  • Brunei Darussalam,
  • Eswatini,
  • Seychelles,
  • Türkiye, and
  • VietNam.

Tax Deficiencies

The EU has identified tax deficiencies such as:

Antigua and Barbuda – Has a “Partially Compliant” rating by the Global Forum in relation to exchange of information on request4 but will undergo an in-depth review to obtain a higher rating

Turkiye – Has not exchanged financial account information with all EU Member States.

Vanuatu – Facilitates offshore structures and arrangements by not having in place adequate legislation for companies to meet obligations regarding substantial economic activities and by not exchanging information with partner jurisdictions regarding these companies. Has a “Partially Compliant” rating by the Global Forum in relation to exchange of information on request and will undergo an in-depth review to obtain a higher rating.

Consequences

The direct consequences of blacklisting are various sanctions by EU member countries, including 

  • Increased scrutiny by banks on transactions originating from blacklisted jurisdictions.
  • Causes reputation damage from EU lenders to source money or access funds.
  • Discourages EU companies to invest in blacklisted countries
  • Higher withholding taxes on payments received in blacklisted jurisdictions.

EU Adds New Grounds for Suspending Visa-Free Travel Over CBI Schemes

Prabhu Balakrishnan
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EU Adds New Grounds for Suspending Visa-Free Travel Over CBI Schemes

The European commission has amended the visa suspension mechanism adding more grounds to suspend visa free access to third world countries with visa waiver agreements, according to a new report published by Commission. The proposal was voted 41 to 10 in favor of the amendment by the committee responsible for implementing VSM. The revised criteria now include grounds weak security checks, criminal offences linked to third country nationals, and non compliance with sanctions.

The Investor citizenship schemes operated by third countries listed in Annex II to Regulation (EU) 2018/1806 allow visa-free travel to the Union to thirdcountry nationals that would otherwise be visa required. Under an investor citizenship scheme, citizenship is granted in return for pre-determined payments or investments without any genuine link to the third country concerned.

While the Union respects the right of sovereign countries to decide on their own naturalisation procedures, visa-free third countries should be deterred from using visa-free access to the Union as a tool for leveraging individual investment in return for their citizenship.

The following clause was included to the revised VSM – “A lack of comprehensive security checks, vetting procedures and due diligence by such third countries with regard to investor citizenship schemes pose several serious security risks for Union citizens, such as those stemming from money laundering and corruption.”

To prevent visa-free access to the Union being used for this purpose, it should be possible to suspend the visa exemption for a third country which chooses to operate such investor citizenship schemes, whereby citizenship is granted without any genuine link to the third country concerned.

The suspension mechanism may be triggered by any of the following grounds:

  • a substantial increase in serious criminal offences, linked to the nationals of that third country, substantiated by objective, concrete and relevant information and data provided by the competent authorities; or
  • the non-alignment of the visa policy of a third country listed in Annex II, where, in particular because of the geographic proximity of that third country to the Union, there is a substantial increase in the number of third-country nationals, other than nationals of that third country, who enter irregularly the territory of the Member States after having stayed on, or transited through, the territory of that third country;
  • A deterioration in the Union’s external relations with a third country listed in Annex II caused by:
  • serious breaches by that third country of the principles set out in the Charter of the United Nations;
  • grave violations by that third country of the obligations deriving from international human rights law or international humanitarian law;
  • violations by that third country of bilateral agreements between it and the Union;
  • that third country carrying out hostile acts against the Union or Member States with the aim of destabilising or undermining society or institutions which are key for the public policy and internal security of the Union or the Member States;
  • non-compliance or non-alignment by that third country with relevant Union sanctions.

This procedure is further amended by increasing the duration of the temporary suspension of the visa exemption from nine months to 12 months (for the first phase) and from 18 months to 24 months (for the second phase), as well as a new urgency procedure is introduced when the situation requires immediate action by the Commission.

In the event of deteriorating relations with certain countries, the commission can suspend the exception for holders of diplomatic passports, service/official passports or special passports.

The report said the Rapporteur has received input from Prime Minister of Saint Lucia, European Commission and other diplomatic representations.

Vanuatu Launches Investigation into Agents

Prabhu Balakrishnan
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Vanuatu Launches Investigation into Agents

The Vanuatu government has directed an an investigation into agents facilitating citizenship by investment applications from criminals and wanted individuals, following three Chinese nationals wanted by Interpol fraudulently obtaining Vanuatu passports later cancelled by Vanuatu authorities..

Agents aiding such applications will have their licenses reviewed and revoked, and criminals bypassing due diligence will have their passports cancelled, according to the government.

The DoIPS acted on instructions from the responsible minister to cancel the three fraudulently acquired passports after the Prime Minister made it clear that Vanuatu will not harbour criminals.

The Prime Minister of Vanuatu made it clear that Vanuatu will not harbour criminals.

EC CIP Nations Risk Facing US Travel Ban

Prabhu Balakrishnan
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EC CIP Nations Risk Facing US Travel Ban

Trump executive order has targeted five countries running citizenship by investment with US travel ban. In response to EO, a “draft list” prepared by State Department, quoted by NY times, in response to Trump EO, has put five nations in yellow list , to clear deficiencies within 60 days or face a US travel ban (full or restricted).

  • St.Kitts and Nevis
  • Dominica
  • St.Lucia
  • Antigua and Barbuda

along with Vanuatu (A pacific nation)

Grenada, Turkiye, Nauru, Malta were not named in the list.

The list has not made official by State department and no formal notification sent to countries by Trump Administration so far.

The New York Times reported, countries in the “yellow list” were included for “inadequate security practices for issuing passports, or the selling of citizenship to people from banned countries, which could serve as a loophole around the restrictions.”.

Trump’s EO “Protecting United States from Foreign terrorist, nationality security and public safety threats” of has directed within 60 days, The Secretary of State, in coordination with the Attorney General, the Secretary of Homeland Security, and the Director of National Intelligence ..

  • to identify countries throughout the world for which vetting and screening information is so deficient as to warrant a partial or full suspension on the admission of nationals from those countries.
  •  Evaluate all visa programs to ensure that they are not used by foreign nation-states or other hostile actors to harm the security, economic, political, cultural, or other national interests of the United States;

The EO also targets, aliens seeking admission to the United States, or who are already in the United States, are vetted and screened to the maximum degree possible.

Maximum vetting will be imposed particularly those aliens coming from regions or nations with identified security risks.

The Prime Minister of St.Kitts and Nevis, Hon. Dr. Terrance Drew confirmed today that no formal or informal communication has been received from the U.S. Government regarding the alleged inclusion of St. Kitts and Nevis on a so-called ‘Yellow’ list.

Consultations Commence for Establishment of CBI Regional Regulator

Prabhu Balakrishnan
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Consultations Commence for Establishment of CBI Regional Regulator

The Interim Regulatory Commission (IRC) is commencing in-country consultations to engage stakeholders on the establishment of a Regional Regulator for Citizenship by Investment Programmes (CBI/CIP).  The consultations will commence on 4 March 2025 with Saint Christopher (St Kitts) and Nevis.

Consultation DatesCountry
4 – 6 March 2025Saint Christopher (St Kitts) and Nevis 
11 – 13 March 2025Commonwealth of Dominica
25 – 27 March 2025Grenada 
1 – 3 April 2025Saint Lucia
15 – 17 April 2025Antigua and Barbuda

The consultations will seek to engage a broad and inclusive set of stakeholders.  Representatives from the Government, the CIP/CBI industry, the media and social partners will be invited to participate in a series of discussions around the regional efforts to strengthen the transparency, accountability and integrity of the CIP/CBI Programmes.  

The IRC was appointed by the five CBI/CIP countries to oversee the establishment of the Regional Regulator.  The eight-member IRC comprises the following appointees:

  1. Antigua and Barbuda – Lieutenant Colonel Edward Croft (Deputy Chair)
  2. Commonwealth of Dominica – Ms Francine Baron
  3. Grenada – Ms Julia Lawrence
  4. Saint Christopher (St Kitts) and Nevis – Archdeacon Isaiah Phillip
  5. Saint Lucia – Mr Evaristus Jn Marie
  6. CARICOM Implementation Agency for Crime and Security (IMPACS)/Joint Regional Communications Centre (JRCC) – Mr Rufus Ferdinand
  7. Organisation of Eastern Caribbean States (OECS) Commission –  Mr Henith Gabriel
  8. Eastern Caribbean Central Bank (ECCB) – Governor Timothy Antoine (Chair)

Persons from within and outside the Currency Union are invited to share thoughts and comments on the Regional Regulator initiative.

Trump Unveils $50 Trillion Gold Card Scheme to Pay off US Debt

Prabhu Balakrishnan
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Trump Unveils $50 Trillion Gold Card Scheme to Pay off US Debt

President Trump in his second presidency has unveiled a historic gold card scheme that is expected to raise $50 trillion from World’s millionaires who seek Golden green card with a path to become US citizen. The Trump gold card set torreplace EB-5, could attract some 58 million millionaires from around the world (1.5% of population) and could set off a millionaire migration to US, affirming United States home to Global millionaires.

“We’ll be able to sell maybe a million of these cards maybe more than that and if you add up the numbers they’re pretty good as an example a million cards would be worth $5 trillion wow and if you sell 10 million of the cards that’s a total of $50 trillion well we have 35 trillion in debt that’ll be nice so we’ll see but uh it could be great maybe it will be fantastic”
– President Trump

Trump explained in the press conference “So it’s a gold card it’s uh somewhat like a green card but at a higher level of sophistication. It’s a road to citizenship for people and essentially people of wealth or people of great talent where people of wealth pay for those people of talent to get get in meaning uh companies will pay for uh people to get in and to have long long-term status in the country.”

“I think it’s something we’re very very happy about hasn’t been done before I think it’s something very exciting”, said Trump

Trump has made it clear U.S citizenship is not for sale – “it’s a path to citizenship a very strong, path to citizenship but we’re not doing the citizenship”

this is a gold card we’re going to be putting a price on that card of about $5 million and that’s going to give you Green Card rivileges plus it’s going to be a route to citizenship

“Wealthy people will be coming into our country by buying this Card they’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people creating jobs, bringing companies in.”

Howard Lutnick, Commerce secretory called the current EB-5 “ridiculous”, told in the press conference “So the eb5 program um was really uh you lend some money but it was all it was full of nonsense make believe and fraud and it was a way to get a green card that was low priced. Rather than having this sort of ridiculous eb5 program we’re going to end the eb5 program we’re going to replace it with the Trump Gold Card.”

The Trump Gold Card which is really a Green Card Gold so they’ll be able to pay $5 million to the US government they’ll have to go through vetting of course we’re going to make sure they’re wonderful world class Global Citizens.

– Howard Lutnick

President revealed the idea that Fortune 500 companies buy/sponsor a gold card and uh if for the people that are number one in their class at top schools.

“It is essentially people of wealth or people of great talent where people of wealth pay for those people of talent to get get in meaning uh companies will pay for uh people to get in”, said President Trump on buying talent with wealth.

Speaking on the matter of taxes, Trump said “they won’t have to pay any tax on income outside of the United States which they’re not paying right now they’re not citizens but they’ll have to pay if they create jobs in the United States they’ll pay full taxes like everybody else so you’re getting big taxpayers big job producers”

Howard Lutnick, Secretary of Commerce said the legislation of EB-5 will be modified and the framework will be rolled out in next two weeks”.

Trump noted Gold Cards would not require congressional approval making much easier to implement.

US and Canada has been operating immigrant investor schemes since 1980’s. A number countries in the world already run Gold visa programs namely New Zealand, Portugal, Hungary, Greece etc profiting from billions of foreign money.

Photo Credit: Photo by Library of Congress on Unsplash

St.Kitts Launches Sovereign Wealth Fund to Secure Nation’s Financial Future

Prabhu Balakrishnan
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St.Kitts Launches Sovereign Wealth Fund to Secure Nation’s Financial Future

The Government of St. Kitts and Nevis has taken a historic step in securing the financial future of its citizens with the establishment of a Sovereign Wealth Fund (SWF). This game-changing initiative will ensure that national revenues—particularly from the Citizenship by Investment (CBI) Program and future renewable energy ventures—are protected, prudently managed, and invested for long-term national prosperity.

This was recently announced by Prime Minister Hon. Dr. Terrance Drew, during his monthly
engagements with members of the media. He shared that his government has received the official framework for the SWF, setting the stage for legislation to be passed in Parliament soon.

“The days of reckless spending and financial mismanagement are over. “, said PM Drew

“This Sovereign Wealth Fund will ensure that our national resources are safeguarded for future generations, bringing an end to the unchecked depletion of public funds.”

The fund will be designed to operate under strict international best practices to guarantee
transparency, accountability, and high returns. It will protect the country’s finances from economic shocks, ensuring that essential public services, infrastructure development, and social programs remain well-funded even in uncertain times.

Dr. Drew referenced past financial mismanagement, highlighting how hundreds of millions were spent from SIDF without proper oversight.“Had we established a Sovereign Wealth Fund earlier, the $303 million that disappeared from the SIDF could have been generating interest today, benefiting all Kittitians and Nevisians,” he said.

The SWF will be independently monitored and managed by financial experts, ensuring that its revenues are strategically invested to maximize long-term national benefits.

“This is about responsible governance, fiscal discipline, and securing the future of St. Kitts & Nevis,” Dr. Drew emphasized.

“We are ensuring that the wealth of this nation is used wisely and remains a lasting legacy for generations to come.”

The government will soon release further details regarding the structure, oversight mechanisms, and initial capital for the SWF ahead of the parliamentary process.

The St.Kitts CIU Opens Office of Chairman

Prabhu Balakrishnan
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The St.Kitts CIU Opens Office of Chairman

The St.Kitts Citizenship by Investment Unit (CIU) has opened Office of Chairman under the leadership of the Chairman of the Board of Governors, His Excellency Calvin St. Juste

The Office of the Chairman (OC) will focus on three broad aims: supporting economic growth, promoting exceptional customer service, and reviewing real estate and development projects. OC is tasked with managing the review and approval process for all real estate and development projects approved under the CBI programme, including regulatory compliance across all transactions from minimum investment thresholds to resale criteria in respect of the real estate option.

The Office of the Chairman (OC) is tasked with

  • Promoting exceptional customer service by offering a single point of contact for developers, clients and service providers.
  • Centralise real estate activity into a single unit, streamlining the entire process. It will also assist with escalation management, addressing special issues related to real estate with prompt resolutions.
  • Deepen the Unit’s commitment to good governance and transparency, by conducting regular audits of real estate and PBO transactions. These audits will enhance the already stellar reputation of the Unit.

The Office of the Chairman is a positive development for everyone involved in the business of real estate and PBO development with St. Kitts and Nevis, from developers, to clients, to local businesses.

Developers will be able to enjoy a streamlined process for project approval and redesignation. Clients will enjoy the fruits of premium real estate investment opportunities, top-notch customer service and rapid issue resolution.

Local businesses enjoy new jobs and beneficial partnership opportunities on sustainable development projects.

Day to day operations will be led by Mr. Damille James, Board Governor and Executive Director for the Office of the Chairman.

The St.Kitts and Nevis Citizenship by Investment (CBI) programme of St. Kitts and Nevis has achieved remarkable growth under its new statutory corporate structure and leadership. Since transitioning from a government entity in late 2024, the programme has recorded an unprecedented 169% increase in applications during the final quarter of the year (October–December) compared to the preceding nine months.

St. Kitts to Introduce ETA System in Mid-2025

Prabhu Balakrishnan
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St. Kitts to Introduce ETA System in Mid-2025

Saint Kitts and Nevis is on track to become the first nation in the Caribbean to implement an advanced Electronic Travel Authorisation (eTA) system, for visa exempt travelers by mid-2025, paving way forCutting-Edge Border Management in the Caribbean

This transformative initiative was highlighted during an introductory meeting on January 17, 2025, with key national stakeholders and the leadership team of Travizory Border Security SA, headed by CEO Renaud Irminger.

The introduction of the eTA system is a vital step in the government’s ongoing mission to transform Saint Kitts and Nevis into the first Sustainable Island State. By leveraging digital innovation and modern technologies, the government is enhancing the delivery of public services while fostering economic growth, environmental sustainability, and social well-being.

Prime Minister and Minister of National Security, Citizenship and Immigration, the Honourable Dr Terrance M. Drew, underscored this vision, stating:

“Saint Kitts and Nevis is proud to lead the region in adopting this innovative system. The eTA not only strengthens our security but also simplifies processes for travellers and citizens, reducing wait times, enhancing efficiency, and elevating our tourism experience. This initiative reflects our commitment to digital transformation as a cornerstone of becoming a Sustainable Island State.”

The eTA system represents a bold step in modernising border management, leveraging cutting-edge technologies such as artificial intelligence and facial biometrics. Its benefits include:

Enhanced National Security by providing immigration and law enforcement agencies with advanced tools to screen for security risks, prevent high-risk travellers from entering, and combat issues like human smuggling, drug trafficking, and financial crimes.

Streamlined processes for travellers and citizens by offering a paperless, efficient process that reduces wait times at ports of entry, simplifies entry requirements, and ensures a smoother arrival experience.

Strengthened tourism offerings by positioning Saint Kitts and Nevis as a leader in tourism innovation by improving the visitor experience and showcasing the nation’s forward-thinking approach to digital integration.

Global compliance by making Saint Kitts and Nevis fully compliant with international security standards set by the International Civil Aviation Organization (ICAO) and the United Nations.

Saint Kitts and Nevis citizens and nationals of the Organisation of Eastern Caribbean States (OECS) will be exempt.

While eTAs often include a small administrative fee, Saint Kitts and Nevis citizens and nationals of the Organisation of Eastern Caribbean States (OECS) will be exempt. For other travellers, the eTA fee will be determined and announced well in advance of the system’s launch, ensuring transparency and ease of planning for visitors.

This initiative reflects the collaborative efforts of key stakeholders, including representatives from the Ministry of National Security, Citizenship and Immigration; Customs and Excise; Tourism; Information, Communications and Technology; and Justice and Legal Affairs. It underscores the government’s dedication to leveraging technology to enhance public services and drive national progress.

As Saint Kitts and Nevis steps boldly into this new era, the eTA system exemplifies its commitment to innovation, inclusivity, and sustainability. By modernising its border management and embracing digital transformation, the nation is not only safeguarding its future but also enhancing the experience for all who call it home or come to visit

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