BASSETERRE, St. Kitts, May 30, 2018 (Press Unit in the Office of the Prime Minister) – More than one thousand, two hundred (1,200) applications were received under the innovative Hurricane Relief Fund – the temporary investment option introduced in 2017 under St. Kitts and Nevis’ Citizenship by Investment (CBI) Programme.
That information was revealed by Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, who was at the time reporting on the success of the six-month fund and the overall strength of the country’s CBI programme during his monthly press conference today, Wednesday, May 30.
The Hurricane Relief Fund was established in September 2017 as a third investment option, where the funds raised under this initiative will go towards the rehabilitation and reconstruction of key public infrastructure such as roads and buildings, which suffered damage during the passage of the two category 5 hurricanes, Irma and Maria. Hurricane relief fund expired on March 30, 2017. So in 6 months, St Kitts received over 1200 applications, making the scheme a great success
Prime Minister Harris stated that over the next six months the applications “will be processed and a determination made as to how many were successful. Success occurs where an application succeeds at the vigorous multi-tiered due diligence process and the applicants and/ or agents successfully wire payments to satisfy their obligations.”
Dr. Harris noted that once these statistics are completed and are available, the Government will provide that data to the public.
Shortly after the introduction of the Hurricane Relief Fund, St. Kitts and Nevis was recognized internationally for offering the World’s Most Innovative Investment Immigration Programme at the 2017 Russian Global Citizen Awards ceremony held in Moscow.
The annual event recognizes the best governments, companies and individuals who have excelled in investment, freedom of movement, and residence services.
Source: SKNIS
