Government and CIU Implement Measures to Safeguard CBI Program

The government of Saint Kitts and Nevis has embarked on a robust campaign to uphold the integrity and global reputation of its Citizenship by Investment (CBI) Programme. This initiative involved a thorough investigation into potential irregularities, leading to significant repercussions for individuals and entities found to be in breach of the programme’s regulations. The investigation, spearheaded by the Ministry of National Security, Immigration, and Citizenship, focused on addressing concerns surrounding incomplete or fraudulent investment payments and misleading marketing practices. The government’s actions underscore its unwavering commitment to maintaining the programme’s credibility and attracting bona fide investors who contribute meaningfully to the nation’s development.

The core of the investigation revolved around a meticulous review of 158 applications and associated contracts linked to two international marketing agents suspected of questionable practices. These agents, later identified as Latitude Consultancy and RIF Trust, were accused of marketing the CBI Programme at investment levels below the legally mandated minimum, thereby misleading potential applicants. The Ministry contacted the 158 individuals connected to these applications to ascertain the validity of their investments. A significant number, 32 individuals, rectified their outstanding investment balances, acknowledging and addressing the discrepancy. However, 13 individuals admitted to non-payment and failed to take any corrective action. One individual requested a hearing before a Commission of Inquiry, while the remaining individuals engaged in discussions with the Ministry to settle their outstanding balances.

The investigation culminated in decisive action against those found in violation of the programme’s regulations. Thirteen individuals and their dependents had their citizenship revoked due to their failure to fulfill the minimum investment requirement, despite claiming compliance in their applications. This action, based on grounds of false representation and willful concealment of material facts, was taken in the interest of the public good and under the authority granted by Sections 8 and 10 of the Citizenship Act. The revocation of citizenship underscores the seriousness with which the government views such breaches and reinforces its commitment to maintaining the programme’s integrity.

The government also took decisive action against the two international marketing agents implicated in the investigation, Latitude Consultancy and RIF Trust. Both entities were permanently blacklisted from participating in any CBI-related activities, effectively barring them from representing themselves as agents or affiliates of the programme. This sanction resulted from their confirmed involvement in marketing the CBI Programme at below-minimum investment levels and providing clients with false assurances of “special discounts”—actions that directly contravened the programme’s governing laws. Client testimonies corroborated these claims, confirming that they received misleading information regarding investment requirements.

Further extending its efforts to protect the integrity of the CBI Programme, the government terminated its investment agreement with MSR Media SKN Ltd and MSR Hotels & Co. Ltd. This termination stemmed from a series of contractual breaches by the MSR Companies, including failures to renovate and operate crucial hospitality and tourism infrastructure, meet local employment targets, and deliver promised film productions. Moreover, the MSR Companies and their principals engaged in a concerted international campaign to discredit the Saint Kitts and Nevis CBI Programme and levied unsubstantiated accusations of unethical conduct against government officials. These actions were deemed incompatible with the principles of a constructive partnership within the CBI framework, leading to the termination of the agreement.

The government’s comprehensive actions demonstrate its unwavering commitment to upholding the highest standards of integrity and transparency within the CBI Programme. By revoking citizenships, blacklisting errant marketing agents, and terminating agreements with non-compliant companies, the government has sent a clear message that it will not tolerate any abuse or misrepresentation of the programme. These decisive measures are intended to protect the reputation of the Saint Kitts and Nevis CBI Programme and ensure that it continues to attract legitimate investors who contribute positively to the nation’s economic development and social progress. The government reiterates its zero-tolerance policy towards any form of abuse of the programme and remains steadfast in its commitment to enforcing its regulations rigorously. This ensures that only credible and compliant investors are granted the privilege of citizenship in Saint Kitts and Nevis.