by Government of St Kitts and Nevis
Mr. Michael Martin appointed as Head and CEO of St.Kitts and Nevis Citizenship by Investment Unit. (CIU) replacing Mr.Les Khan who will be leading a team of experts.
The Prime Minister and Minister of Finance, National Security, Citizenship and Immigration, Health and Social Security, Hon. Dr. Terrance Drew, visited the Citizenship by Investment Unit (CIU) today to introduce the new Head of CIU, Mr. Michael Martin.
Mr. Martin is no stranger to the CBI industry having been at one time, one of the top service providers in the industry. He is a national of St. Kitts and Nevis who has served in top managerial positions in a number of companies, including National Caribbean Insurance Company, National Bank Trust Company, and Sagicor Life Inc. He is a past Director of the Insurance Association of the Caribbean, Honorary Secretary of the Brimstone Hill Fortress National Park Society Council of Management and a Director of First Federal Cooperative Credit Union.
Mr. Martin holds a graduate diploma from the International Compliance Association and Manchester Business School, a certificate in International Trust Management from the Society of Trust and Estate Practitioners and a certificate in Managing Financial Services from the University of the West Indies.
At the briefing, the new Head of CIU thanked the Prime Minister for trusting him with “this very important assignment” and expressed his excitement of taking on the new task.
Mr. Martin stated that a situational analysis will be conducted to assess the status of the Unit and determine the best way forward for “maximize efficiency and effectiveness”. “This is an operation that is very important to the development of the country, and to the people of the country. We will have to rebrand and refocus the programme, define our strategic goals, and create some new investment options that would be aligned to those strategic goals. ”
The Citizenship By Investment Programme is expected to undergo a complete evolution. As Mr. Martin outlined the strategic plans he has instore for the Unit, he stated that focus is on advancing the country. “We will be looking at emerging markets and redefining our target client. There must be some exclusivity to it” he added.
Also present at the meeting were Attorney General Hon. Garth Wilkin, Cabinet Secretary Mr. Marcus Natta, and Operations Manager at CIU, Mr. Larry Vaughn.
Hon. Dr. Terrance Drew in an address to the nation on Monday 12th December 2022, announced that citizens and residents for the first time will receive a Citizenship by Investment COVID-19 Relief Payment (Dividend) from the proceeds generated from the Citizenship by Investment (CBI) Programme. A total of 23 million dollars were allocated for the payment of the CBI COVID-19 Relief Payment (Dividend); the Government’s fifth (5th) COVID-19 relief initiative since taking office in August 2022.
