Updated Time 26 Sep, 2019, 12:05 (UTC+08:00)
The Federation of St Kitts and Nevis scored highly again in the prestigious CBI Index, issued by the Financial Times’ Professional Wealth Management (PWM) magazine.
The special report evaluated all 13 citizenship by investment (CBI) programmes currently active in the world and placed the twin-island nation on the CBI podium, with an improved overall score of 89%.
St Kitts and Nevis’ CBI Programme did exceptionally well in terms of citizenship timeline, which was ranked among the best in the world.
After its popular fund option generated more interest than expected from investors seeking to obtain the Federation’s citizenship, the Government saw it necessary to make the application process more streamlined in order to meet the demand responsibly.
Last year, Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF) as the most straightforward route to St Kitts and Nevis’ citizenship. It remains especially convenient for families, who can obtain citizenship jointly after making a contribution of US$195,000 for a family of four, successfully passing security checks and fulfilling all the other application requirements.
Due diligence procedures which all CBI applicants are subjected to remain among the strongest worldwide. FT experts scored St Kitts and Nevis with 10 out of 10 points for its security standards, consistent with last year’s performance.
In 2018, the Government of St Kitts and Nevis announced a series of measures aimed at strengthening the Programme’s due diligence, such as compulsory biometric data and stricter escrow account rules.
The independent study notes that the Federation “continued to demonstrate its commitment to enhanced due diligence.” The tougher security processes balance the convenience of no mandatory residence or visit requirements for citizenship hopefuls. This is another factor for which St Kitts and Nevis received maximum points in the 2019 CBI Index.
Known as the ‘Platinum Standard’ of CBI, St Kitts and Nevis also stands out for offering successful applicants the possibility of visiting over 150 countries and territories without needing a pre-departure visa.
The researchers highlight the high freedom of movement it gives its adoptive citizens: “St Kitts and Nevis maintained its upward trajectory regarding visa-free and visa-on-arrival offerings.” Established in 1984, St Kitts and Nevis operates the longest-running CBI Programme in the world and is looked up to as the pioneer of economic citizenship.
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