The Prime Minister of St. Kitts and Nevis, Vance Amory, has indicated that applicants to Citizens by Investment Program (CBI) may be given the added option of investing directly in any Government Public Sector project.
Speaking at the Citizenship by Investment and International Residence Summit in London, held between October 21-22, 2014, Mr. Amory claimed that these investment options will make the CBI scheme more attractive and beneficial for St. Kitts and Nevis as well as for applicants.
During a discussion on possible new initiatives for the St. Kitts and Nevis’ CBI Scheme, he told attendees that allowing applicants to invest in the Health Sector, Education or Infrastructure projects, would benefit all stakeholders and create new jobs in the country.
Mr. Amory’s comments come at a time when other countries with similar Citizenship by Investment schemes are successfully attracting more applicants by providing these investment options.
In addition to St. Kitts and Nevis, neighboring Caribbean countries like Antigua and Barbuda, Dominica and Grenada, are seeking to benefit from CBI Programs. As a source of Foreign Direct Investment, CBI schemes have proven to be highly lucrative, and are being increasingly seen as a way to meet fiscal challenges.
While in London, Mr. Amory attended another event on the opportunities for investment in St. Kitts and Nevis’ Tourism, Real Estate and the Financial Sectors. Organized by several corporate stakeholders, and with more than 100 prospective applicants in attendance, Mr. Amory made a presentation at the event highlighting the St. Kitts and Nevis Island Administration’s priority of developing of Tourism and Financial Services for the continued economic and social development of the country.
Before returning to St. Kitts and Nevis, Prime Minister Amory also attended the 8th Annual Global Citizenship Conference held on October 29 and 30, 2014 in Singapore. Mr. Amory was a featured speaker at the conference.