The Prime Minister of St.Kitts & Nevis has outlined and future plans with the citizenship by investment in his Budget speech 2023. He addressed the speaker of the house on the topic of CBI, with proposals revealing the creation of sovereign wealth fund, use of CBI revenues beneficial to the nation.
For nearly 40 years, St. Kitts and Nevis has been the pioneer of the global investor immigration industry. “The revenues from our Citizenship by Investment programme have allowed our nation to thrive”, he said. It has given us the opportunity to advance our people without overreliance on international financial aid. After four decades of erudition and development, now is the time to ensure that the programme transcends to the modern age and the security infrastructure is enhanced and strengthened.
“The evolved CBI Programme will invite bold and creative top-notch investors to our shores who will develop innovative industries in St. Kitts and Nevis”
SKN PM – Dr. Terrance Drew
Security – ensure that the programme transcends to the modern age and the security infrastructure is enhanced and strengthened.
Stakeholders – ensure that our CBI Programme is mutually beneficial for all stakeholders, the people of St. Kitts and Nevis, investors, developers, local service providers, and international marketing agents.
Sovereign Wealth Fund – To create a Sovereign Wealth Fund which will be responsibly managed by high level professionals. This Fund will be used to safely invest in the international markets and industries over the long term. We will ensure, by legislation, that the Fund can only be tapped into for rainy days such as natural disaster response and not for addressing recurrent expenses. we also intend to use CBI revenues to fuel our plans to implement a diversified economy.
“Our Government’s goal to create a Sovereign Wealth Fund”
“We have forecasted that the revenues from our CBI Programme will be significant over the next few months. If such financial projections are realized, it is our Government’s goal to create a Sovereign Wealth Fund which will be responsibly managed by high level professionals.” said PM Dr. Drew
Use CBI revenues to improve our healthcare, social services, energy infrastructure and water security an divident payment. Labour Party Administration will use our CBI profits to empower our people through entrepreneurship, sustainable work opportunities and homeownership.
PM said “Our vision is for the CBI revenue to be used to finance transformational projects in the Federation”. The CBI Programme would be better utilized to bring about vast improvements in our country’s Health and Education Sectors. It would be better utilized to enhance our public infrastructure including our roads and electricity and water supplies. The Programme could be of great assistance in the digital transformation of our economy as well as our transitioning of the green and blue economies. The development of resilient infrastructure would undoubtedly attract further investments to our shores and allow for our people to capitalize on emerging opportunities. It would play a key role in our goals of diversifying the economy and job creation.
Further, the construction of real estate developments pursuant to our Government’s priority infrastructure list, and in all things, bring substantial benefit to the People of Saint Christopher and Nevis.
“The payment of the CBI dividend this week is the first proof of this new day and better way with respect to our Citizenship by Investment programme.”, he said addressing the house.
