St Kitts and Nevis CIU establishes Office of Executive Chairman, aims to boost transparency

In a significant development, St Kitts and Nevis has taken a major step to enhance its Citizenship by Investment (CBI) Programme by officially establishing the Office of the Executive Chairman with the CBI Unit. This latest development was announced by the unit as part of its wider transformation of the CIU, which was restructured into a body corporate last year to boost transparency and efficiency.  

The establishment of this Office showcases the unit’s commitment towards sustainable economic development, enhanced customer service and robust oversight of real estate and development projects under the Citizenship by Investment Programme.  

According to the Chairman of the Board of Governors, Calvin St Juste, this newly launched office will be focusing on three pillars – fostering economic growth, advancing exceptional customer service and assessing real estate and development projects in St Kitts and Nevis.  

With the development of the Office, there will be a special focus on supporting sustainable economic growth by ensuring that projects will deliver economic benefits to the Federation such as creation of new opportunities for locals.  

The office will now be responsible for managing the review and approval process for all real estate and development projects under the St Kitts and Nevis’ CBI programme to ensure regulatory compliance across all transactions including minimum investment thresholds and resale procedure in respect of the real estate option.  

Reportedly, the day-to-day operations of the Office of the Executive Chairman will be overlooked by Damille James who brings more than two decades of experience in the banking sector, including a decade at the Eastern Caribbean Central Bank. As the Board Governor and Executive Director, he is bringing a wealth of financial expertise to the CIU.  

Office of the Executive Chairman commits to transparency and quality 

The establishment of the Office will be reinforcing the CIU’s dedication towards good governance and transparency by carrying out audits on a regular basis of real estate and Public Benefit Organisation (PBO) transactions.  

Apart from the audits, the unit will also promote a culture of continuous improvement with a solid emphasis on quality check, monitoring and evaluation.

The office will also overlook the newly established CIU Taskforce which is a specialised team designed to enhance the operational efficiency. This taskforce upholds the Office’s ability to concentrate on major projects and high-priority initiatives which drive sustainable growth.  

Office of the Chairman is a game-changer for all involved in real estate and PBO 

The launch of the Office of the Chairman is reportedly a game changer for everyone involved in the real estate and PBO development in the Federation and is set to offer tangible benefits to clients, developers and local businesses.  

Clients will be gaining access to premium real estate opportunities, premium customer service as well as quick resolution of any concerns while developers will benefit from a more streamlined approval and redesignation process. Also, local businesses will be experiencing growth through job creation and partnerships across sustainable development projects.