Terrance Drew, Prime Minister of the island nation of St Kitts and Nevis, said that his government and its Citizenship by Investment (CBI) Programme will continue to adapt to the needs of its people and attract the right kind of international investment necessary to uplift the country.
Drew was in Dubai recently for a state visit that aimed to strengthen bilateral relations and garner support from the UAE to pivot the island into a sought-after business and leisure hub in the Caribbean. The new prime minister and his delegation had several meetings and engagements over the four-day trip, which took place from November 29 to December 3, 2022. Prime Minister Drew was accompanied by a delegation including Marsha Henderson, Minister of Tourism; Garth Wilkin, Attorney-General; Dr Marcus Natta, Cabinet Secretary; Sylvester Anthony and Veira Galloway.
Since Dubai is such an important financial hub and is swiftly becoming an epicentre for the global citizen, it is fitting that I am here this evening to discuss the attributes of my special nation, and more particularly our renowned Citizenship by Investment Programme that stands apart from others
The UAE and St Kitts and Nevis have enjoyed years of fruitful relations resulting in several areas of cooperation that both countries have achieved together, including the signing of a historic Air Services Agreement. The UAE also expressed previous interest in assisting the twin island Federation in adapting stronger climate change resilient measures, particularly in relation to its infrastructure.
"Since Dubai is such an important financial hub and is swiftly becoming an epicentre for the global citizen, it is fitting that I am here this evening to discuss the attributes of my special nation, and more particularly our renowned Citizenship by Investment Programme that stands apart from others," said Drew at an event held at the Taj Hotel, Dubai, to unveil his nation's CBI programme in the UAE. "We need to ensure that our treasured Citizenship by Investment Programme is mutually beneficial for all stakeholders, from the people of St Kitts and Nevis, the investors themselves, to the developers, to the local service providers and the international marketing agents."
St Kitts and Nevis developed and instituted its CBI Programme in 1984 as a way to increase and diversify revenue generation. For nearly 40 years the programme has been instrumental in catapulting the nation from just a small island in the Caribbean to a globally recognised investment destination.
The government of St Kitts and Nevis has made considerable progress in reducing its public debt and is among other countries in the Caribbean that supplement their economic activity through CBI programmes which provide astute investors with the option to obtain citizenship by investing in the country. The new government administration of St Kitts and Nevis believes that residents of the UAE have a lot to benefit from its CBI programme.
The St Kitts and Nevis CBI programme looks to attract an intelligent more sustainability- minded investor and ensure that the foreign direct investment generated truly uplifts the people of St Kitts and Nevis. With a new board to effect stronger legislative and administrative oversight, the programme is will set new standards in the CBI Industry.
"For nearly 40 years, St Kitts and Nevis has been the pioneer of the global investor immigration industry and an active leader in the industry," said Drew. "We have maintained a platinum brand to the tremendous benefit all of our international investors and other stakeholders. Further, our proximity to international business hubs allows access to a basket of regional blocs that can help international investors expand their mobility and do business no matter where they are in the world.
Underpinned by a sound legal framework and robust multi-layered due diligence, St Kitts and Nevis' CBI programme offers unrivaled benefits to investors of good repute that are looking for an enriching base to advance their families and businesses.
"We see ourselves as an intelligent and innovative nation that is always taking advantage of new sustainable and mutually beneficial opportunities," said Drew. "We therefore seek to attract similarly sophisticated forward-thinking investors."