CBI Programme Is Integral To Long-Term Development, PM Harris Says
Prime Minister Dr. the Honourable Timothy Harris says the Team Unity-led Government views the country’s Citizenship by Investment Programme (CBI) as an integral part of the long-term development of St. Kitts and Nevis that will “bring benefits to the next generation for another 30 years.”
Prime Minister Harris said this is why his Government continues to make significant investments in the citizenship programme. Such investments include the introduction of a 24/7 case management system that allows for round-the-clock, real-time monitoring of the status of CBI applications.
In addition to this, CBI applications now undergo a more rigorous, multi-layered due diligence system.
“We have rebranded our CBI programme as the platinum standard,” Dr. Harris said while speaking with the Press Unit in the Office of the Prime Minister.
The Prime Minister of St. Kitts and Nevis also said, “We have been careful to avoid any attempts to have a ‘market for lemons’ with respect to our own CBI programme. In the ‘market for lemons,’ all products are basically [viewed by the buyer as] the same [due to inadequate information about the product]. Therefore, we have said [to prospective investors] that we maintain the platinum standard and, as a result of that, we have ensured that we have the strongest due diligence programme and policies in place.”
The Honourable Prime Minister added, “We have had some of the best known and most experienced providers of due diligence services to assist us in providing risk profiles on our applicants. Beyond that, we coordinate with regional and international crime-fighting agencies that add another layer of due diligence with regard to the applications, and we coordinate with our international allies. This multi-layered due diligence approach ensures that at the end of the day those who succeed should be those with the highest credibility and highest integrity that are available.”
Dr. the Honourable Timothy Harris further noted that the Federal Cabinet is also considering alternative investment options in growth areas such as alternative energy, entrepreneurship and tourism, particularly medical and student education, “because we are looking at this as making a contribution to the next generation.”
“We are therefore concerned about sustainability, and so we have identified a number of areas that would be of legacy value to the generation after us,” Dr. Harris added.
Prime Minister Dr. the Honourable Timothy Harris continued, “We have identified alternative energy because alternative energy is now the accepted road to go as opposed to utilization of fossil fuels. It leads to sources of energy that preserve our environmental and our system’s health, and at the same time sources of energy that are renewable and affordable.”
Dr. Harris also identified public infrastructure as another alternative investment option.
“There is a need for us to ensure, at regular intervals, that our airports, our cruise ports and harbour facilities, our highways and roads are kept in good physical condition. As a consequence then, we need to preserve the investment in these particular areas of infrastructure,” the Prime Minister of St. Kitts and Nevis said.