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New Citizenship by Investment Regulations envisage a professional Board of Governors to be appointed

Basseterre, St. Kitts, December 27, 2022 (SKNIS): Effective January 1, 2023, St. Kitts and Nevis will move to appoint a Professional Citizenship by Investment (CBI) Board of Governors.

During an official address by Michael Martin, Head of the Citizenship by Investment Unit (CIU), it was revealed that the CBI Board of Governors will be “responsible for high-level supervisory matters such as providing general oversight of the operations of the Unit.”

“The Board will advise Prime Minister and Minister of National Security, Citizenship and Immigration, The Honourable Dr Terrance M. Drew on matters related to the development and implementation of policies and procedures for the Unit; review all investment proposals; assess the compatibility of potential CBI projects with national laws and local, regional and international standards, and assess the financial viability of potential CBI projects,” said Mr. Martin.

Mr. Martin added that “the Board will investigate complaints; ensure application processing is completed as swiftly as possible within the time frames advertised without compromising the integrity of the programme; and constantly monitor the global investor immigration industry to ensure that our CBI regulations align with, and adjust to, international market forces.”

Equally important, a CBI Technical Committee will also be appointed.

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