BASSETERRE, St Kitts (WINN) — The St Kitts and Nevis federal cabinet says it is considering several proposed amendments to the country’s citizenship by investment (CBI) programme, including additional changes under the real estate option.
According to a government press statement, Prime Minister Dr Timothy Harris; Senior Minister Vance Amory; Attorney General Vincent Byron and CEO of the Citizenship by Investment Unit Les Khan on Friday met with more than two dozen major players in the economic citizenship industry “in an effort to apprise and update them of the likely direction the Team Unity administration intends to take with respect to the CBI programme”.
The release stated that the prime minister informed the representatives that his Cabinet has been having ongoing consultations with respect to introducing new measures to the CBI programme that they feel would help to incentivize the programme and make it much more attractive.
He said the meeting with the developers was to give them a sense of where the government is likely to end and garner feedback on some of the issues raised during said consultations.
The press release did not reveal any details with regard the proposed amendments and changes to the programme.
In February, the government had announced that coming out of consultations with real estate developers, the government would be reducing its processing fees to US$75,000 for a family of four under the real estate option of the CBI programme.
Republished with permission of West Indies News Network