St. Kitts and Nevis Citizenship by Investment Applications Continue to Grow
/Recently, the idea of obtaining citizenship is becoming increasingly popular. For example, the Prime Minister of Saint Kitts and Nevis, Timothy Harris, said that the number of applications from foreign investors is growing.
The oldest Citizenship by Investment Programme was founded in St. Kitts and Nevis in 1984. Over the years, the country has not lost its reputation and is one of the popular jurisdictions. At the moment, 35% of state revenue comes from the Citizenship by Investment Programme.
"Applications to the Citizenship by Investment Programme have increased tremendously over recent years and they continue to rise," said the Prime Minister. "St. Kitts and Nevis paid off the $117 million debt to the International Monetary Fund."
The more the country receives foreign investment through the programme, the more money goes into socioeconomic initiatives for local residents. One of these is the Skills Training Empowerment Programme (STEP). Starting July 1, STEP beneficiaries will begin to work in the public service on an ongoing basis.
“The 3,000 STEP workers will become part of the permanent workforce of the Government of St. Kitts and Nevis come the 1st of July, 2020,” said Prime Minister Harris.
Source: prnewswire
