LONDON, Oct. 22, 2020 /PRNewswire/ — Team Unity-led Government of the Federation of St Kitts and Nevis gathered yesterday to continue the task of finalising the 2021 budget. Aspart of the process, various ministries gave an account of their performance over the last year and presented their plans for the upcoming fiscal year. Along with cost containment and the efficiency in the delivery of services, Prime Minister Dr the Honourable Timothy Harris prioritised the protection of the poor in 2021.
The country’s Citizenship by Investment (CBI) Programme plays a crucial role in supporting such social initiatives. The funds generated through the contribution of well-vetted foreign investors go towards healthcare, tourism, and education sectors. One such scheme is the Poverty Alleviation Programme (PAP), which this year accepted an additional 940 individuals who lost incomes due to COVID-19. So far, with CBI resources, the government has given $23 million to PAP to help thousands of citizens.
During the virtual forum series Leadership Matters on October 20th, the PM said, “We shall preserve our PAP with strict compliance to the household criteria. We shall preserve our support to parents through the stipend to each child in early childhood. We will continue our social services support with the voucher and other programmes. […] Our school children will receive support from the SELF Programme, free dental care, the waiver of examination fees, etc. Certainly, for those with the entrepreneurial zeal, we will provide through our Fresh Start programme support to micro, small and medium-sized enterprises.”
In exchange for their contribution, investors are awarded St Kitts and Nevis citizenship. This grants them rights to live, work, and study on the dual island. Economic citizens also become eligible to travel to nearly 150 countries and territories, thanks to the diplomatic nature Foreign Affairs Minister Mark Brantley.
Today, the Programme stands as the fastest way to achieve second citizenship in the world, according to the 2020 CBI Index. Although applicants frequently receive approvals in three months, St Kitts and Nevis offers a 60-day Accelerated Application Process for a premium for investors requiring faster results. Now until January 15th, 2021, a family of up to four can receive St Kitts and Nevis citizenship with a contribution of $150,000 to the Sustainable Growth Fund.