CBI PROGRAMME CONTINUES TO EVOLVE

Basseterre, St. Kitts, December 01, 2016 (SKNIS): The Citizenship by Investment Programme (CBI) is going through an evolution, say Les Khan, CEO of the Citizenship by Investment Unit (CIU), while appearing on the radio-television programme “Working for You” on November 30.

Mr. Khan said that currently the programme’s focus is on rebranding to make it more attractive while at the same time maintaining the highest standards of due diligence. The government has approved financing and hiring of a marketing provider which is now working with the CIU to rebuild the website.

“This is a key instrument in attracting applications, but more than just attracting applications and more than just showing a fancy website, it’s about identifying where our future markets are,” he said. “It’s about identifying who our service providers are, who our marketing agents are. So, creating this website is something that is going to take us to the next level and also make us more competitive.”

He added that it was announced that there will now be an accelerated application process, which is a fast track process for persons wishing to make investments.

“We did this a few weeks ago. Cabinet approved it a month ago and we are getting really good responses from service providers and agents on this programme,” said Mr. Khan. “What we are doing is really utilizing our efficiency to increase our revenue. So, with the accelerated programme we have negotiated with our due diligence providers, we’ve negotiated with national security and passport office, and everyone in the CIU is geared towards ensuring that our fast track application process works.”

He added that this gives the programme an edge over other CBI programmes.

“They don’t have it; they can’t do it. Our recalibration efforts have now put us ahead whereas the other programmes that are out there are now experiencing what we experienced [which were] volumes, lack of systems, lack of controls and inability to turn it around.”

He said that St. Kitts and Nevis is positioned “nicely” and as it stays on point, the CIU will ensure that this continues.

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