St Kitts and Nevis CIU to operate on six guiding principles with new structure as statutory corporation

The government of St Kitts and Nevis officially launched the Citizenship by Investment Unit (CIU) as a statutory corporation on Tuesday. The newly launched CIU corporation will operate on the basis of its six fundamental principles, marking a significant step towards enhancing the Citizenship by Investment Programme of St Kitts and Nevis.

The new structure of the unit is aimed to enhance the good governance, integrity of the Citizenship by Investment Programme while maintaining its reputation on the international stage.

CALVIN ST JUSTE

The Chairman of the CIU, Calvin St. Juste expressed delight at this transformation and stated that they will continue to lead in the global landscape as they did this year by topping the CBI Index rankings 2024. He added that they will continue to create value for the investors in order to ensure that the advantages of the programme are availed by all the people of St Kitts and Nevis.

The Chairman ensured that they will embark on this new chapter, focusing on high performance, agility and integrity to develop the Citizenship by Investment Programme.

SIX FUNDAMENTAL PRINCIPLES UNDER WHICH CIU WILL OPERATE INCLUDE:

• Transparency: The authorities aim to ensure the transparency of the Programme while making clear and open decisions in order to develop trust among investors and citizens.
• Communication: The authorities considered open and clear communication as the key driver to foster understanding and engagement among citizens and stakeholders.
• Good Governance: The authorities ensure to uphold accountability and fairness in every decision and action undertaken by them.
• Transformation: The authorities are also focused on implementing changes and innovation with a vision to meet new or emerging challenges and opportunities.
• Global Leadership: The authorities reiterated their commitment to solidify the CIU’s reputation for excellence in the industry.
• Sustainability: The authorities also emphasized on balancing economic growth and social responsibility in order to bring unlimited benefits to both investors and the local community.

Acting Prime Minister of St Kitts and Nevis, Minister Geoffrey Hanley, also delivered a key address and called it a “significant moment” in the history of the Citizenship by Investment Unit. He stated that its transformation from a CBI Unit to a statutory corporation is a strategic move which will play a huge role in enhancing the transparency, efficiency and accountability of the CBI operations.

Minister Hanley asserted that Citizenship by Investment Unit as a statutory corporation is all set to solidify its position as a crucial driver, aiming to offer enhanced services to both applicants and stakeholders.

While emphasising the requirement of this change, Minister Hanley mentioned that this shift will create several opportunities for them to cater to the best interests of the citizens of St Kitts and Nevis. He asserted that this shift will play a significant role in ensuring the competitive spirit of the programme while protecting the national interests.

He called this transition, a testament to the unwavering commitment and dedication of the administration towards maintaining the standards of the Citizenship by Investment Programme.

The Acting Prime Minister, Geoffrey Hanley also expressed gratitude to Michael Martin, the outgoing Head of the CIU. He appreciated his leadership in the last two years and lauded his efforts for ensuring the integrity of the CBI Programme.

Minister Hanley also extended a welcome to the newly formed Board of Governors and asked them to always perform their duties with utmost integrity, transparency and accountability. He stated that the success of the CBI unit now depends on the commitment and dedication of the newly formed Board of Governors to continue positioning the CBI Programme of St Kitts and Nevis as the number one in the world.