St Kitts and Nevis Provides Financial and Social Assistance to Citizens, Supported by its Citizenship by Investment Programme

16/10/2020 11:00

LONDON, Oct. 16, 2020 /PRNewswire/ -- During a weekly government programme earlier this week, Prime Minister Timothy Harris reiterated some of the ways the Federation of St Kitts and Nevis is supporting its citizens during the COVID-19 pandemic. PM Harris highlighted the $120 million stimulus package that was introduced in March, the waiver of water payments for six months and a moratorium of electricity and mortgage payments. The dual-island nation has only recorded 19 confirmed cases, with all patients now recovered and zero deaths.

PM Harris also noted that the Poverty Alleviation Programme (PAP) – which provides low-income households with a monthly stipend of $500 – has supported an additional 940 individuals who had lost income due to the pandemic. The initiative is sponsored by St Kitts and Nevis' Citizenship by Investment (CBI) Programme.

"The PAP beneficiaries count peaked at about 5,800 as more households lost their breadwinners and applied to the Ministry of Sustainable Development to become enrolled as a recipient of the PAP programme. Up to September 2020, my Government has paid out $23 million for the year so far in Poverty Alleviation stipends to assist the poor and vulnerable in our midst," Prime Minister Harris said.

Before the pandemic, St Kitts and Nevis had enjoyed steady economic growth. It became the first independent state in the Eastern Caribbean Currency Union to align its debt-to-GDP ratio with international standards. However, since COVID-19, the islands have had to rely on its CBI Programme to keep the nation afloat. The Programme enables wealthy foreign investors and their families to obtain second citizenship once donating to its Sustainable Growth Fund. Applicants who choose to invest in St Kitts and Nevis citizenship must undergo a multi-tiered vetting process that ensures only those of the highest-moral standing become citizens.

After gaining citizenship, investors gain access to increased global mobility to nearly 160 countries, alternative business routes, the option to pass down citizenship and secure your future legacy. Foreign Minister Mark Brantley is particularly committed to ensuring that St Kitts and Nevis' visa prospects continue to increase as he works to develop diplomatic relations across the globe.

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