BASSETERRE, St Kitts, Thursday May 31, 2012 – While economic citizenship has been scorned by some Caribbean nations, St Kitts and Nevis is reaping the benefits of such a programme.
According to Prime Minister Dr Denzil Douglas, the Citizenship by Investment Unit in St Kitts and Nevis receives approximately 300 applications per year and collects nearly EC$60 million in processing fees.
This was disclosed by the prime minister, who is also the Minister of Finance, during the last sitting of the St Kitts and Nevis National Assembly.
However, Dr Douglas took pains to point out that all applications that are received go through the rigours of the system established to ensure that only individuals who are worthy of becoming citizens of St Kitts and Nevis do so.
“Mr Speaker the Citizenship by Investment unit receives applications from all over the world. Our system is a robust and attractive one. We receive and process applications from the USA, Canada, China, the United Arab Emirates especially Dubai, Russia, Jordan, Yemen, Singapore, Taiwan, Germany, Egypt, South Africa, Saudi Arabia, Australia, Ethiopia, Ukraine, France, Kuwait, Vietnam, India, Nigeria, Lebanon,” he told the parliamentary body.
Responding to questions from Eugene Hamilton, the Member for St Christopher 8, Douglas also noted that the nature of the information required in part (c) of the question would take some time to analyze and the Citizenship by Investment Unit is in the process of fully computerizing its operations so that this level of information can be easily gathered.