The Prime Minister of St.Kitts and Nevis highlighted important achievements of the St.Kitts and Nevis citizenship by investment program during his budget speech for 2025.
CIU Restructuring
In 2024, the St. Kitts and Nevis Citizenship by Investment Programme (CBI) underwent a bold transformation, solidifying its position as a cornerstone of the national economy. The restructuring of the Citizenship by Investment Unit (CIU) into a statutory body with a robust Board of Governors, an experienced C-Suite, and the establishment of the Office of the Chairman has created a well-aligned framework between the Unit and the Government. This synergy has already borne fruit: streamlined processing mechanisms, increased applications, and record-breaking revenue since the restructuring on 1 October. These achievements showcase Government’s vision and commitment to maintaining the integrity, efficiency, and global competitiveness of the Programme.
Milestones Achieved
The restructured CIU has achieved remarkable milestones, including setting a ten-week target for application decisions, implementing a 24-hour response time for applicants, creating a Communication Division to ensure accurate and timely information, and establishing a Task Force to eliminate backlogged files. Additionally, cutting-edge technology now tracks and monitors application processing, ensuring transparency and efficiency. These accomplishments were part of the Thirty Wins in Thirty Days, an ambitious initiative that reflects our Government’s determination to deliver swift and meaningful progress. These enhancements are not only proof of the Programme’s adaptability but also provide a resounding response to critics who question its management and sustainability.
The diversified investment options under the Programme continue to bring tangible benefits to the people of St. Kitts and Nevis. The Sustainable Island State Contribution (SISC) directly supports economic and social development, funding initiatives that uplift everyday citizens while driving economic diversification. The Public Benefit Option (PBO), which has delivered impactful projects such as the Prime Creative Arts Centre, aligns investor interests with the Federation’s infrastructural, cultural, and educational needs. Moreover, regulatory amendments reducing minimum investment thresholds in real estate have made this option more attractive than ever, driving a surge in interest. These achievements reaffirm the Labour Administration’s strategic approach to leveraging the CBI Programme as a platform for innovation, growth, and long-term sustainability. As we head into 2025,
We remain steadfast in our commitment to ensuring that the CBI Programme secures opportunities for citizens and propels us toward our Sustainable Island State vision.
– PM Dr. Drew
Protecting Visa Free Travel
The experiences of the past year have made it abundantly clear that reforming our Citizenship by Investment (CBI) Programme was not only necessary but the right and timely decision. As we have seen elsewhere, failure to address vulnerabilities in such programmes can have dire consequences. Other small island nations, with similar citizenship programmes, have faced the devastating loss of visa-free access to Europe and other territories, due to lax oversight and mismanagement.
“Our Government took decisive action to reform our CBI Programme, ensuring its compliance with international standards, safeguarding St. Kitts and Nevis’ reputation, and protecting the precious benefits of visa free travel for our people. “
Significantly, our CBI programme ranks #1 in the world for 2024.
Diversification
These reforms also highlighted the need to diversify our economy, which had become overly reliant on a single industry-the CBI Industry. We remain resolute in our efforts to recalibrate our fiscal strategy, prioritising sustainable revenue generation
and prudent expenditure control to secure long-term economic stability. Diversification is not just an aspiration—it is a necessity to build resilience and reduce vulnerability to external shocks.
Non Tax Revenue
The Prime Minister revealed, Non-Tax Revenue exceeded the budget by 18.7 percent mainly on account of the proceeds from the Citizenship by Investment (CBI) Program.
CBI Dividends
The unprecedented payment of two CBI Dividends to our people—the first time in the history of the St. Kitts and Nevis CBI Programme; an 8% salary increase for Civil Servants and Pensioners; multiple workers’ bonuses; and the historic implementation of pensions for Government Auxiliary Employees (GAEs) for the very first time. Additionally, we delivered a 39% increase in the national minimum wage, a 37% increase in pension payments, and a 16% increase in the minimum age pension
