BASSETERRE, St Kitts, Thursday May 31, 2018 – More than 1,200 applications have been submitted for economic citizenship in St Kitts and Nevis under the Hurricane Relief Fund, a temporary investment option introduced under the twin-island federation’s Citizenship by Investment (CBI) programme, in the midst of a destructive 2017 hurricane season.
The disclosure came from Prime Minister and Minister of Finance, Dr Timothy Harris yesterday, as he reported on the success of the six-month fund and the overall strength of the country’s CBI programme.
The Hurricane Relief Fund was established in September 2017 as a third investment option. The funds raised under this initiative will go towards the rehabilitation and reconstruction of key public infrastructure such as roads and buildings, which suffered damage during the passage of two Category 5 hurricanes, Irma and Maria, in that month.
Prime Minister Harris said that over the next six months the applications will be processed and a determination made as to how many were successful.
“Success occurs where an application succeeds at the vigorous multi-tiered due diligence process and the applicants and/ or agents successfully wire payments to satisfy their obligations,” he said.
Dr Harris said once the statistics are completed and available, the Government would provide that data to the public.
Shortly after the introduction of the Hurricane Relief Fund, St Kitts and Nevis was recognized internationally for offering the World’s Most Innovative Investment Immigration Programme at the 2017 Russian Global Citizen Awards ceremony held in Moscow.
The annual event recognizes the best governments, companies and individuals who have excelled in investment, freedom of movement, and residence services.