The St Kitts CBI program is the oldest and most popular citizenship by investment program in the World. The CBI program has made some important contribution to the economy of St. Kitts and Nevis.
Since hitting its peak year in 2014, receipts from the government’s CBI have been on the decline. In 2017 the CBI revenues declined by 30%.
During an interview to WINN FM, the former government Minister and attorney at law Dwyer Astaphan gave a recap of the CBI fee revenues earned annually over a ten year span starting in 2008.
The panelists calculated that the government has earned over EC$3 billion dollars in cash from the CBI program in just about 10 years.
| ECD Millions | ||
| SIDF | CBI Fees | |
| 2007 | 19 | |
| 2008 | 36 | 12.5 |
| 2009 | 52 | 14.2 |
| 2010 | 153 | 42 |
| 2011 | 230 | 89 |
| 2012 | 330 | 141 |
| 2013 | 330 | 277 |
| 2014 | 292 | 325 |
| 2015 | 209 | 294 |
| 2016 | 124 | 175 |
| 2017 | 149 | |
| Total | 1,775 | 1,518.7 |
| Total CBI Revenues | ECD 3.29 billion (USD 1.22 Billion) during the period of ten years |
Hurricane Relief Fund
St Kitts received 1200 applications under Hurricane Relief Fund (HRF). Assuming an average of $200,000 per application of Hurricane Relief Fund would have contributed another USD 240 million. This does not include government fees and passport fees.
Real Estate
It is not entirely clear the investments received under real estate option (No data available)
All in all, we estimate St Kitts would have approximately atleast USD 1.5 billion revenues from citizenship by investment programme from 2007 to Q1 2018 when the HRF expired in March 31, 2018.
The CBI revenues are staggering numbers, for a small country with just a population of 55,000. This goes on to show St Kitts and Nevis has achieved great economic prosperity from CBI program, considering St Kitts is the birthplace of economic citizenship in 1983. No other caribbean country has achieved this monumental feat. If the one and half billion revenues were to be distributed to SKN citizens, each person will receive $27,000 per head.
