St Kitts and Nevis Reaffirms Commitment to Economic Growth

27/08/2020 11:09

LONDON, Aug. 27, 2020 /PRNewswire/ -- The Federation of St Kitts and Nevis is committed to supporting economic growth on the islands, as reiterated by Prime Minister Timothy Harris during his weekly Leadership Matters programme on Tuesday. According to PM Harris, St Kitts and Nevis ranks third among sovereign states in the Western Hemisphere for per capita income and number one in the Organisation of Eastern Caribbean States.

Prior to the COVID-19 pandemic, St Kitts and Nevis achieved several economic milestones credited to the government prioritising the nation's fiscal management. Last year, the islands welcomed nine consecutive months of accumulating a surplus and the fifth year of continuous economic growth. Additionally, St Kitts and Nevis is the first independent state in the Eastern Caribbean Currency Union to align its debt-to-GDP ratio to international standards twelve years before the deadline.

Last week, Prime Minister Timothy Harris reiterated these economic achievements: "In the last five years, the prudent fiscal performance of the Team Unity administration saw St Kitts and Nevis being viewed as the 'best example of a well-managed small island state," said PM Harris. "The Federation had been adjudged the best in the Organization of Eastern Caribbean States by independent and prestigious authorities on various indices, including fiscal balances, information and communication technology development and per capita income."

One of the main drivers of economic growth on the islands is the Citizenship by Investment (CBI) Programme. Introduced in 1984, the Programme enables wealthy investors and their families to attain the nation's citizenship once making an economic contribution to the country's Sustainable Growth Fund (SGF). The fund option is one of the fastest and straightforward routes to St Kitts and Nevis citizenship. It offers successful applicants a wealth of opportunities from increased global mobility to enhanced business prospects. Investments made to the SGF are used to support St Kitts and Nevis' national development. One of the projects to come from the CBI Programme is the Poverty Alleviation Programme which supports low-income households with a monthly stipend of EC$500.

Investors interested in becoming economic citizens of St Kitts and Nevis can take advantage of the limited-time offer under the SGF, which enables families of four to obtain citizenship for US$150,000 rather than $195,000. New citizens can work, study and travel visa-free or visa-on-arrival-to nearly 160 destinations around the world.

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