Economic Growth Continues in St Kitts and Nevis – CS Global Partners

During a press conference last month, St Kitts and Nevis’s Prime
Minister Timothy Harris, in his double capacity as the Minister of
Finance, highlighted some of the latest significant developments made on
the Caribbean islands. According to premier Harris, economic growth in
St Kitts and Nevis increased in 2018 for the fifth year in a row under
the Team Unity administration.

Prime Minister Harris also mentioned that the St Kitts and Nevis Country
Economic Review issued by the Caribbean Development Bank in March
signified that the country was ranked first in the Organisation of
Eastern Caribbean States (OECS) regarding its primary balance and public
sector debt ratio. He detailed some of the major infrastructural
developments that will continue to support the islands’ economy, such as
a second cruise pier and the Old Bay Rehabilitation Project.

The premier further commented on the country’s fiscal management, adding
that “the Federation ranked second in the CARICOM region with
international reserves providing eight months of import coverage […]
This impressive performance in the region must be seen against the
international benchmark of three months and is much better than the
international standard.”

St Kitts and Nevis’s upward economic trajectory can be partly attributed
to the islands’ successful Citizenship
by Investment Programme – the world’s longest-standing economic
citizenship programme. Since 1984, St Kitts and Nevis has been offering
global individuals and their families a means of acquiring second
citizenship through a monetary contribution. Last year, Prime Minister
Harris introduced the most straightforward route to St Kitts and Nevis’s
citizenship – the Sustainable Growth Fund (SGF). It is a fund held
directly by the government, to which citizenship hopefuls transfer at
least US$150,000 to qualify, amongst other criteria such as due
diligence. The SGF funds are then channelled into the advancement of the
islands in key areas like healthcare, education, infrastructure,
entrepreneurship and tourism. It is the only programme that has the
Accelerated Application Process feature, which guarantees eligible
applicants receipt of citizenship and passport issuance within 60 days.
Over the last three decades, the Programme has come to be recognised as
the ‘Platinum Standard’ of CBI for its efficiency, reliability and
unrivalled experience.

CS Global Partners is the international legal advisory mandated by
the Government to promote the Citizenship by Investment Programme
worldwide.

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