Last Updated on December 1, 2022, 1:21 PM AST by Anthony Morris
The prime Minister of St Kitts and Nevis, Dr Terrance Drew, is on his first official visit to the world-renowned business hub of the United Arab Emirates, Dubai. He is accompanied by The Minister of Tourism, Marsha Henderson, Attorney-General and Minister of Legal Affairs, Garth Wilkin, Cabinet Secretary, Dr Marcus Natta; Sylvester Anthony, Veira Galloway
The Prime Minister Dr Terrance Drew and his delegation of ministers will be in Dubai for a four-day trip. The Prime Minister and his panel of ministers and high-ranking officials have planned to promote their Citizenship by Investment Programme globally.
During the overseas trip, Prime Minster Dr Terrance Drew attended an exclusive cocktail evening put together by the embassy of St Kitts and Nevis on December 1, 2022.
During the event, the Prime Minister and his delegation will unveil St Kitts and Nevis Citizenship By Investment Programme’s Evolution. Keeping in line with the event’s mandate, Prime Minister Dr Drew addressed the attendees of the exclusive cocktail evening.
During his address, the Prime Minister Dr Terrance Drew stated that he was extremely pleased to visit Dubai for the first time as the Prime Minister. He also expressed pleasure at getting the chance to meet and interact with several stakeholders and individuals “that hold our dear twin island Federation close to your heart.”
The Prime Minister further believes that his visit to Dubai is most fitting, given that the city is such an important financial hub and is swiftly becoming an epicentre for the global citizen. Dr Terrance Drew stated that I am here this evening to discuss the attributes of my exceptional nation, particularly our renowned Citizenship by Investment Programme that stands apart from others.
Further, in his address, the Prime Minister Dr Terrance Drew observed that the world is ever-changing and unpredictable. In light of this observation, the Government of St Kitts and Nevis and its CBI Programme must continue to adapt to our people’s needs and attract the right kind of international investment that is necessary to uplift our country.
St Kitts and Nevis have enjoyed being the world’s oldest and most trusted Citizenship by Investment Programme. Expanding upon this, The Prime Minister of St Kitts and Nevis observed that For nearly 40 years, St Kitts and Nevis had been the pioneer of the global investor immigration industry.
Talking about the utility of the CBI Programme for the economy of the small island nation, Dr Terrance Drew further spoke that The programme has allowed our nation to thrive. It has allowed the country to uplift the people without needing to depend on international financial aid overly.
Further, the Prime Minister stated that the federation’s vision to use economic citizenship to attract international investment was innovative in 1984. The first significant evolution of the Citizenship By Investment Programme 27 years later, in 2011, was bold and creative.
Talking about the present evolution of the CBI Programme, The Prime Minister said, In the third stage of change, in 2022, after four decades of learning and development, The government intends to use the same creativity and boldness to ensure that:
- The (CBI) programme transcends to the modern age
- The security infrastructure (of the programme) is enhanced and strengthened
The Government of St Kitts and Nevis seeks to ensure that the Citizenship by Investment Programme, following these evolutions, is mutually beneficial for all stakeholders, including the people of St Kitts and Nevis, the investors, the developers, the local service providers and the international marketing agents.
Meanwhile, he talked about keeping their investment programme at the top place that it enjoys today for the long run. In this respect, Dr Terrance Drew stated that St Kitts and Nevis has always been the benchmark of the global investor immigration industry, to retain that position, the nation needs to continue to evolve and forge a path that is sustainable in the long term.
The newly anointed government of St Kitts and Nevis has investigated the Citizenship by Investment Programme as it currently stands. Following the investigations, the government has decided to update some aspects of the programme. The updates aim to ensure that the programme continues to meet the needs of intelligent investment-minded people looking for an enriching base for their families and businesses.
At the same time, the Prime Minister, Dr Terrance Drew, revealed that the government of St Kitts and Nevis aims to ensure that the programme continues to uplift the Kittitian and Nevisian society through beneficial investment options that bring tangible value.
Prime Minister Dr Drew revealed that the government did this review in consultation and partnership with all stakeholders during the exploratory phase. He also ensured that they would continue to engage local and international stakeholders on an ongoing basis to ensure that we are up-to-date with their needs.
The Prime Minister stated that he and his delegation are at this global platform to hear from the stakeholders involved in the programme before the final details of the “evolved Citizenship By Investment Programme” are made public, for implementation on January 1, 2023.
Additionally, The Prime Minister revealed that the government had made the bold and innovative decisions needed to strengthen the programme’s legislative and administrative structures. These decisions will also ensure the real estate projects funded by the programme are completed.
He announced that St Kitts & Nevis is seeking well-respected and severe investors who see our nation’s potential. Additionally, they should be prepared to put capital to back innovative projects, investments and industries which will prove beneficial enhance our palatability to global immigration investors.
The Prime Minister of St Kitts and Nevis, Dr Terrance Drew revealed that the government would appoint the CBI Board of Governors, who will be responsible for high-level supervisory matters. These include:
- providing general oversight of the operations of the Citizenship By Investment Unit;
- developing and implementing the policies and procedures for CBI Unit;
- Ensuring that application processing is completed efficiently and within the time frames that are advertised without comprising the integrity of the programme.
Finally,
- Constantly monitoring the global investor immigration industry making sure that St Kitts and Nevis’ Citizenship By Investment regulations align with, and adjust to, international market forces.
The prime Minister Terrance Drew also committed his support to the new body of governors, aiming to strengthen the programme.
Dr Terrance Drew also revealed that three principles guided the government’s decision-making regarding the evolved Citizenship By Investment Programme:
- Sustainablity: The government of St Kitts and Nevis has created a sustainable model which will continue to be the envy of the international community through administrative improvements.
- Good Governance: The government structured the programme to allow for greater transparency and accountability. These are hallmarks of the good governance framework which solidifies the foundation of any successful endeavour.
- Pragmatism: We have tailored our investment options to align with market realities while preserving the platinum brand our proud nation has developed and nurtured for four decades.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
