The Prime Minister of St Kitts and Nevis, in his budget speech for 2020, announced the popularity of St Kitts CIP has led to increased spending on due diligence resources. He also stated St Kitts would continue pursuing more visa waiver agreements with friendly countries to make SKN passport strongest in the region.
“The demand for economic citizenship in our country resulted in increased expenditure for Background Checks and other expenditure associated with the maintenance of a robust CBI Programme.”
Additionally, as the demand for economic citizenship grows, so too will the due diligence, marketing and other associated costs related to the Programme. Adequate resources would also be provided to support our very successful Citizenship by Investment Programme which continues to be ranked best in the region and one of the best in the industry worldwide. Our Platinum Brand is considered the most attractive and that is demonstrated by the confidence of our clients and agents. Our due diligence processes remain robust and unwavering, he stated
As we continuously seek ways to enhance our Programme, a new Biometric feature is being considered for implementation in 2020 as part of our identity validation process. This will ensure that only persons of highest character are considered for economic citizenship here in St. Kitts and Nevis. Additionally, we will reap the benefits of new marketing expertise contracted to guide the forward development of our CBI Programme which is strong on due diligence, strong on integrity, and strong on timely delivery.
“In the upcoming year, the Ministry would continue to deliver on its mandate and therefore seek to expand our partnerships with friendly governments around the world. The work of this Ministry is invaluable as it relates to the recent increase in the number of countries to which St. Kitts and Nevis citizens now have visa free entry. This has improved the strength of the St. Kitts and Nevis passport making it one of the strongest and most desirable in the region”, PM Harris said
The economy of St. Kitts and Nevis has continued to record positive growth with GDP expanding by 2.6% in 2018.and expected to grow by 2.9% in 2019 due to strong performances in sectors such as Transportation, Storage and Communications (8.8%), Financial Services (4.0%), and Real Estate, Renting and Business Services (2.1%).
The SKN passport remained a strong passport in the Caribbean according to the newly released study on the best passport rankings for 2020
The full budget speech for 2020 is available here
