St Kitts and Nevis to introduce major CBI reforms to prioritize integrity

St Kitts and Nevis: The Prime Minister of the twin island federation of St Kitts and Nevis, Dr Terrane Drew has made breaking announcement that the parliament is about to present a legislature which will outline major changes in the Citizenship by Investment (CBI) programme of the nation. As outlined by the PM these changes include a mandatory residency clause as well an enhanced and upgraded biometric verification systems.  

The Prime Minister made this announcement while speaking at an interview session at the national radio as he claimed that an official announcement will be made very soon. He then added that the leaders across the Organisation of Eastern Caribbean States (OECS) will be establishing an official regulatory body to oversee the CBI programmes of the nations.  

A significant move to enhance regional CBI Programmes 

This marks a groundbreaking and significant move by the government to ensure that the CBI programme of St Kitts and Nevis aligns perfectly with the needs of high-net-worth individuals and position the twin island as a leader in economic growth, regional cooperation with transparency.  

The new law is expected to pass in the coming week as the Prime Minister said he has been putting together the regulatory body. It is also said that the parliament of St Kitts and Nevis will also pass the legislation to set up a regional regulatory body in each region which could further strengthen and establish due diligence procedures for the CBI programme. 

“This is about safeguarding our national interest, preserving the strength of our passport, and upholding our responsibility as a trusted member of the international community,” the Prime Minister said.  

PM Drew Says Reforms Have Been Ongoing Since He Took Office 

He further emphasized that these reforms are not new and have been brought up in the region’s CBI programme since he presumed office. “We are getting where we want to go, and we’ll be there very, very soon.” he said.  

Notably, after the implementation of these new initiatives, all CBI applicants will undergo an in person or verified virtual interviews along with biometric data collection incorporated into the application process.