St Kitts and Nevis tops global CBI rankings for 4th Year, PM Drew expresses pride

St Kitts and Nevis: As the Citizenship by Investment Programme of St Kitts and Nevis was ranked the best in the world by the recently released CBI Index 2024, Prime Minister Dr Terrance Drew expressed pride over his administration and the CIU unit.

The CBI Index 2024 released on Wednesday ranked the St Kitts and Nevis CBI as the best in the world among 12 jurisdictions for 4th consecutive year. 

Through a social media post, he said that when he took office in 2022, he publicly stated that the Citizenship by Investment (CBI) programme would be the most challenging issue to address because of two key reasons that the previous administration mismanaged the programme and they failed to diversify the economy, leaving it with over 70% dependency on CBI.

He added, “The question became: how do we reform CBI, ensuring good governance and transparency, without losing the programme?”

The Prime Minister noted that this action required courage, but he was guided by the belief that a principled stance would ultimately yield positive results.

He also mentioned that just a few days ago, the opposition claimed that CBI was finished—a hypocritical statement, considering their policies put the programme at risk. 

Today, PM Drew said, he feels vindicated, and his government’s reforms, which introduced greater transparency and governance, have proven to be the right approach.

While expressing his pride, Dr Terrance Drew outlined, “Now, we are internationally recognized as the number one CBI program. While this is cause for celebration, our work must continue. Thanks to my cabinet colleagues, the CIU, and all those involved in this effort."

Notably, the index lauded the St Kitts and Nevis CBI for effectively adapting new transitions in the industry. The report said that the Federation’s consistent leadership in efficiency, processing as well as several other metrics makes it stand out as the best option for investors.
 
The Index which is based on 9 pillars also ranked St Kitts and Nevis as the best in four key pillars including Mandatory Travel or Residence, Ease of Processing, Due Diligence and Certainty of Product.

This shows the island nation’s CBI is attracting several HNWIs through its efficient services without compromising its due diligence procedures.