Prime Minister Harris Pledges to Make “Modern History”

Prime Minister Harris asserted his intention to make “modern history” for St Kitts and Nevis

Monday, 15th June 2020

Prime Minister of St Kitts and Nevis Dr Timothy Harris

On Friday 5 June 2020, Prime Minister Timothy Harris clinched a second and final term as Prime Minister of the Federation of St Kitts and Nevis, as Team Unity secured nine out of the country’s eleven constituencies. The incumbent term also sees Mark Brantley retain his position as Foreign Minister, after winning all available seats in the island of Nevis. Addressing Kittitians and Nevisians across the country at his swearing-in ceremony, Prime Minister Harris asserted his intention to make “modern history” for St Kitts and Nevis. Indeed, as Team Unity enters its fifth year in government, St Kitts and Nevis boasts one of the Caribbean’s strongest economies and its lowest debt-to-GDP ratio. St Kitts and Nevis’ economic success can be largely credited to its Citizenship by Investment (CBI) Programme, which was enacted in 1984 and which, thanks to Team Unity, has seen a significant rise in the number of applications in recent years. Today, owed to its affordability, efficiency, and global renown, the St Kitts and Nevis CBI Programme boasts a reputation as the industry’s ‘Platinum Standard’. Introduced under Team Unity in 2017, the quickest and most affordable route to citizenship of St Kitts and Nevis is via a one-time contribution to the Government’s Sustainable Growth Fund. Under the fund option, time-poor investors may opt for the Accelerated Application Process (AAP), through which approvals are issued within 60 days of the submission of an application. St Kitts and Nevis is therefore the only CBI destination in the world with a guaranteed fast-track process. However, even standard applications frequently receive approvals in just three months. CEO of the St Kitts and Nevis Citizenship by Investment Unit, Mr Les Khan, has demonstrated an unwavering commitment to maintaining efficient processing, even in the midst of a global pandemic. As part of the Unit’s rapid response to Covid-19, a sophisticated online case management system was adopted, allowing the Unit to continue to review applications remotely. While applications submitted through the online portal are being used to commence due diligence procedures, however, Les Khan confirmed that an approval-in-principle will not be issued until the physical documents have been received by the Unit. Under the fund option, single applicants are asked to make a contribution of US$150,000, whereas a family of four can apply by making a minimum contribution of US$195,000. As such, the fund option is particularly attractive to applicants with large families. Investors can be sure that their contributions are making a difference in St Kitts and Nevis, as the approved uses of the fund contributions are enshrined in regulation and include supporting the construction of schools and other education initiatives, mitigating the effects of climate change in the country, and supporting the development of medical facilities. In its 36 years of existence, the St Kitts and Nevis CBI Programme has proved to be extremely effective in driving the development of St Kitts and Nevis, despite all obstacles. To echo Prime Minister Harris, the best way to make “modern history” in St Kitts and Nevis is to invest in the future of the country through CBI.