Speaking at the Citizenship By Investment and International Residence Summit, the Premier of St. Kitts and Nevis indicated that the country’s Citizenship by Investment Programme may allow investors to enjoy the option of investing funds directly into public sector projects along with the existing investment options. The Premier, Hon. Vance Amory, opined that this move will help the program become more popular amongst investors.
The introduction of this option will enable applicants to invest in Health, Education, or Social & Physical infrastructure projects directly to facilitate creation of more jobs and improved benefits to the community as a whole.
If this proposed move is implemented, St. Kitts & Nevis will join a host of other nations that are coming up with measures to attract funds from investors into specific niches and jurisdictions. Along with conventional options like investment in Government bonds, immigrant investors will enjoy the option of obtaining citizenship by investing funds in specific projects.
Apart from St. Kitts & Nevis, Many other Caribbean nations like Antigua and Barbuda, Grenada, and Dominica are offering investment immigration options for high net-worth individuals. This is a productive source of Foreign Direct Investment for countries that don’t otherwise attract FDI from global investors. The nations are relying on such programs to overcome fiscal and economic challenges.
Speaking about major sectors offering opportunities to investors, Mr. Amory highlighted the country’s tourism, real estate, financial services sectors as significant contributors to the development of the economy and society of St. Kitts and Nevis. It remains to be seen whether Nevis shall become the first country in the Caribbean to offer citizenship to investors in lieu of minimum investments in specific projects being executed in the country.