St Kitts and Nevis Vetting CBI Applications Processed by Caribbean Galaxy

The St Kitts and Nevis Government has commissioned due diligence on all citizenship by investment (CBI) applications processed by Caribbean Galaxy during the tenure of the previous government while the CBI unit was led by CEO Les Khan. 

Reportedly, the background checks were commissioned about six weeks ago after the government initiated a massive action on individuals who may have received citizenship, possibly at illegally discounted prices. 

Most of these applications in question were processed by Caribbean Galaxy, which was also assigned to the construction of the ‘Prison Project’ by the previous government led by then-Prime Minister Dr. Timothy Harris. 

Sources revealed that St Kitts and Nevis has also taken assistance from due diligence investigative agencies based in the United States, United Kingdom, and Europe. These internationally renowned agencies are known in the industry for their multi-layered vetting practices. These agencies will conduct vetting on all individuals who obtained citizenship from Caribbean Galaxy. 

Notably, the results are still pending, and the process is expected to be completed within the coming 8 to 10 weeks. If anyone is found to have obtained citizenship illegally or if recipients of citizenship paid less than the legal investment threshold, they will lose their rights to citizenship. 

 St Kitts and Nevis is making strong steps to improve the Citizenship by Investment Programme. Just a month ago, St Kitts and Nevis established a Continuing International Due Diligence (CIDD) Unit responsible for keeping a check on all recipients of CBI. 

CIDD is also responsible for ensuring that any individual who holds citizenship issued by St Kitts and Nevis (who works or resides internationally) abides by the laws of the countries they are living in or visiting. 

Besides this, the Citizenship by Investment Unit is now a statutory body, following the enactment of the ‘Citizenship by Investment Unit Act of 2024’ passed on June 13, 2024. The unit is now being overseen by a chairperson and a board of governors who are responsible for the efficient and proper management of the programme, including the due diligence and vetting of all its applicants. 

Meanwhile, as the investigation undergoes, Caribbean Galaxy is facing a suspension from the Government of St Kitts and Nevis until a further decision is taken by the board of governors. 

According to information, the agencies will verify all financial documents including 10 years of bank statements, source of funds, criminal records, employment history, business records, family history, among several other significant aspects. The vetting also extends to local police verification and agent visits to all corporations and home addresses to verify the legitimacy of documents provided by the applicant. 

The Infamous Caribbean Galaxy 

 The Caribbean Galaxy Real Estate Corporation is infamous for selling citizenships at a much lower investment with high commissions to the agents. Notably, they were allotted two projects in St Kitts and Nevis: the Ramada Hotel and the ‘St Kitts Correctional Facility’ (Prison Project). 

In exchange for the completion of these projects, the former government authorized Caribbean Galaxy to sell hundreds of citizenships to generate FDI in order to drive the projects. However, the delayed Ramada was completed years after its scheduled completion date, while the prison project construction was barely started. 

 Soon after, Caribbean Galaxy and its management were suspended by the Government of St Kitts and Nevis. After taking office, the new government also ordered a thorough review of the programme and announced a complete overhaul. This included major changes, along with actions to review applications processed at a much lower investment than the legal threshold.