Foreign direct investment earned through the Citizenship by Investment (CBI) program allows Saint Kitts and Nevis to develop projects and keep the islands running. The Nevis Island Administration (NIA), for example, has used the money received to fund various projects that have benefited the island’s residents and citizens.
Hon. Premier Mark Brantley, Minister of Finance in the NIA in a recent interview told what exactly the money was spent on: “Offhand, just from my mind- the Mondo Track; we have the brand new Newcastle Police Station; we have the water taxi pier at Oualie which in my view has been a monumental investment in so far as the water taxi business is concerned, which by the way remains 100 percent Nevisian-owned at this point; we have the CCTV centre that has gone up; we had works that were done on various roads all around Nevis; we have the new Treasury Building in Charlestown which was a significant investment; we have generators up at NEVLEC- one of those Wärtsilä generators costs over US $5 million…and the expansion of the Alexandra Hospital”.
Some of the CBI funds were used to service the NIA’s payroll to ensure that government employees and retirees receive timely and full pay, especially during the COVID-19 island’s economic lockdown.
Saint Kitts and Nevis Citizenship by Investment Program since 1984 has been inviting foreign investors to make investments and obtain citizenship in return.
Benefits of the program:
- Quick processing: the citizenship is granted in 6-9 months
- Zero tax: St. Kitts & Nevis imposes no income, wealth or inheritance taxes.
- An applicant does not need to visit St. Kitts & Nevis in order to qualify for citizenship, although all applicants are subject to a strict due diligence check.
- St. Kitts & Nevis recognizes dual citizenship, so you can still benefit from your current citizenship.
- Global mobility: St Kitts & Nevis’s citizenship program elevates global mobility opportunities for its investors.
More about St.Kitts & Nevis Citizenship by Investment program
Source: zizonline
