Efficiency is Critical to Citizenship by Investment, St Kitts and Nevis CIU CEO Says
LONDON, April 16, 2020 /PRNewswire/-- Fast-track processing, experience and reliable due diligence are the defining features that position St Kitts and Nevis as the 'Platinum Standard' of Citizenship by Investment (CBI). This is according to Mr Les Khan, the CEO of the Caribbean country's Citizenship by Investment Unit (CIU), in a recent interview with London-headquartered government advisory CS Global Partners.
Established in 1984, the St Kitts and Nevis CBI Programme offers thoroughly vetted individuals and their families the privilege of obtaining its citizenship in exchange for an economic contribution. Two years ago, Prime Minister Timothy Harris introduced the Sustainable Growth Fund (SGF) as the fastest, most secure and most efficient route to St Kitts and Nevis' citizenship. Coupled with the Accelerated Application Process (AAP), it guarantees that approved applicants receive their citizenship and accompanying passports – a separate process – within 60 days.
"The efficiency factor is very critical to our clients and we are the only [CBI] Unit that offers a fast-track service," says Mr Khan referring to the AAP feature. He explains how the fast-tracking maintains the high due diligence standards that define St Kitts and Nevis' CBI Programme: "[For] HNWI who want their application to be expeditious, we can afford that facility at a higher price, but we have the mechanism to do negotiations with our due diligence providers."
Mr Khan offers some insight into the inner operations of the CIU and how they manage to streamline their processes for maximum speed and quality. "All our staff are tuned into what a fast-track application is; it gets priority from the minute it comes in through the door to when it's a final approval."
The way applicants make their qualifying CBI investment through the Sustainable Growth Fund is straightforward and most secure. Once they pass all the due diligence checks and are approved in principle, investors make a one-time contribution directly to the government. Investments start at US$150,000, depending on how many family members they include in the application. There are no other intermediaries except for authorised persons approved on the CIU website.
Applicants can obtain citizenship from their home countries because St Kitts and Nevis does not require them to visit the islands. Furthermore, the application process has temporarily been digitalised for safety reasons in light of COVID-19.
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