LONDON, July 10, 2020 /PRNewswire/ -- The Federation of St Kitts and Nevis has diversified its economy through the Citizenship by Investment (CBI) Programme, established in 1984. The fund option that citizenship hopefuls contribute to provides the government with resources to implement socio-economic initiatives across the twin islands. This is according to Foreign Minister Mark Brantley, interviewed for a new documentary by Professional Wealth Management (PWM) ? a publication from the Financial Times.
Mr Brantley, who is also the recently re-elected Premier of Nevis, says that CBI plays a very important role for the residents of the islands and the country's economy. Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF) in 2018 as the fastest and most secure route to second citizenship. It is proving particularly appealing to investing families.
"That fund provides direct income to the government," Mr Brantley told PWM. "And when that happens, of course, the government then have resources to do a host of social projects and a host of development and infrastructural projects for the country. And we look around St Kitts and Nevis and you see the DNA of that all over. We've just launched, for example, a Poverty Alleviation Programme where poor households are given a supplemental check each month. So, it really has real, legitimate impact on the ordinary lives of our citizens, and I think that is what makes it so important to us."
He explained how bigger countries like the US, Canada and EU member states have replicated the islands' original investor immigration model. "We started it here, but it hasn't stayed here," Mr Brantley says. "In Europe, for example, you have places like Malta and Cyprus and Portugal ? they're all offering some variant. The great Canada offered some variant which attracted, of course, a lot of Hong Kong Chinese to places like Vancouver. In the United States, you have the EB-5 visa programme that was put in place. All of these are variants of the same theme, but that theme started right here in St Kitts and Nevis."
Due diligence for St Kitts and Nevis is among the strictest, and that gives foreign investors reassurance. A limited-time offer now runs for families of up to four to obtain citizenship for US$150,000 via SGF.
SOURCE CS Global Partners
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