LONDON, May 11, 2020 /PRNewswire/ -- The Federation of St Kitts and Nevis can be a safety net for families seeking security, good healthcare and education. Last week, a new episode of the Plan B podcast by CS Global Partners highlighted how St Kitts and Nevis uses funds from its Citizenship by Investment (CBI) Programme to increase the standard of living on the twin islands. While these improvements are aimed primarily at the native population, as foreign investors become economic citizens, they too can benefit from all the privileges and opportunities the country offers.
The concept of Citizenship by Investment has its roots in the Caribbean, with St Kitts and Nevis establishing the first programme in 1984. It continues to run successfully to date, generally known as the 'Platinum Standard' of CBI. Two year ago, Prime Minister Timothy Harris introduced the Sustainable Growth Fund – a new, more efficient channel under CBI. The fund option provides the fastest route to second citizenship, with investments particularly attractive for larger families.
"Money that is invested into the fund is, effectively, a contribution to the government," explains Zahra Khozema, a PR and Communications Officer at CS Global Partners in London. "The government then uses this money where it deems there is greatest need, although there are certain guidelines, for example, in St Kitts and Nevis, the funds go towards sustainable projects," she explains.
One area that has benefitted from CBI funding is the tourism industry – a key economic pillar for the Caribbean nation. For instance, CBI co-sponsored the construction of a second cruise pier at Port Zante. This allows the island of St Kitts to welcome more large ships thus more tourists to the capital city.
While the country was not seriously affected directly by the pandemic, its tourism industry has naturally come to a temporary halt. However, PM Harris is confident that the islands will bounce back soon, telling the BBC World that the government has pledged 120 million dollars to assist the economy.
Besides efficient fiscal management and continued improvements in the standard of living, St Kitts and Nevis grants its new economic citizens the right to normally travel visa-free or with a visa-on-arrival to over 150 destinations. Foreign Minister Mark Brantley ensures that more new countries open their borders to the citizens of the small twin-island nation.
SOURCE CS Global Partners