The Citizenship by Investment Unit (CIU) of St. Kitts and Nevis has reported a 169% increase in applications following its transition to a statutory body. The restructuring, which included the appointment of Executive Chairman Calvin St Juste, and a board of governors marks a significant shift in the management and operational approach of the programme, the unit reported.
As per a recent release by the CIU, the strategic overhaul was driven by a broader vision to modernize and enhance the efficiency of the Citizenship by Investment (CBI) programme. The shift from a traditional government-run entity to a corporate-led model was aimed at increasing transparency, improving operational efficiency, and strengthening the credibility of the programme on a global scale.
The Unit also noted that the growth was experienced during the final quarter of 2024 (October- December) as compared to the preceding nine months. The CIU further maintained that the “substantial surge reflects renewed investor confidence in the Programme’s efficiency, transparency, and global appeal”.
Since assuming the office, Calvin St. Juste Executive Chairman of the Citizenship by Investment Unit has introduced a set of structured business principles to streamline processes within the CIU. Following the transformation into a statutory body, the St Kitts and Nevis CIU has enhanced the skill set by introducing an experienced C-suite.
Prime Minister Dr. Terrance Drew stated that the Citizenship by Investment Programme of St. Kitts and Nevis stands as a benchmark for excellence and integrity in the investment migration industry.
“The CIU’s transition to a statutory body was a bold step, rooted in our commitment to upholding the highest industry standards and setting a mark for others to follow. This remarkable growth reflects the transformative changes we’ve implemented to ensure transparency and efficiency,” – Prime Minister Dr. Terrance Drew.
He further added that the Federation remains steadfast in the vision to revolutionise the CBI industry, and emphasized on the country’s commitment to global security.
Government’s Rationale for the Change
The St. Kitts and Nevis Government maintains that the successful transition from a 40-year-old government-run entity to a corporate-led model was necessary to meet the global standards
Government’s Rationale for the Change
The decision to transition the CIU into a statutory body aligns with the government’s broader efforts to reinforce the programme’s integrity and adaptability. Prime Minister Dr. Terrance Drew has emphasized that the restructuring is intended to uphold industry best practices while ensuring that St. Kitts and Nevis remains competitive in the global investment migration market.
Global Outreach and Market Confidence
In an effort to restore confidence in the programme, Chairman St Juste has engaged in international outreach, meeting with key stakeholders and local service providers. This approach aims to rebuild trust, clarify the CIU’s new policies, and attract a broader base of high-net-worth applicants.
