St Kitts & Nevis Manufacturing Growth Favours Economic Citizens
LONDON--(Business Wire / Korea Newswire) February 20, 2019 -- Last Monday, St Kitts and Nevis revealed a positive outlook for its manufacturing sector. After visiting five national plants, the Government reported that industry plans and projections indicate competitive growth for the upcoming year. Manufacturing is central to the national economy, which will therefore gain in production and strength. As economic citizens invest in the country via the Sustainable Growth Fund (SGF), increased growth will provide a greater return on investment for applicants to the country’s Citizenship by Investment (CBI) Programme.
St Kitts and Nevis’ CBI Programme offers investors second citizenship in return for a contribution to the SGF. The ‘Platinum Standard’ Programme is one of the most successful in the world; it has received recognition from the Financial Times for high standards of due diligence and processing. Indeed, the Government recently reinforced its due diligence by introducing stricter escrow account legislation and a new requirement for applicants to provide biometric data in the form of digital fingerprints. Unlike the real estate option, applicants to the SGF invest directly into the development of the country, and thereby benefit from overall growth in the economy. Key areas of investment include healthcare, schools, infrastructure, and business development. Many applicants also obtain second citizenship to safeguard theirs and their family members’ safety. A growing, resilient economy provides the opportunity for greater economic and personal security.
A Strong Future
Export manufacturing is a key driver of revenue for St Kitts and Nevis. Goods are delivered all over the world, including to the USA and Europe, where, for example, Kittitian and Nevisian aerospace products are used. Attending the plant tour, Prime Minister the Hon. Dr Timothy Harris celebrated the news. “[Manufacturing] is a highly sophisticated and competitive industry, and all of our products are of a high standard and that is why, when decisions are being made regarding where to expand, St. Kitts and Nevis for 2018/2019 has been the preferred site for that.” Plants visited included Lutron Liamuiga, Kajola Kristada, Jaro Electronics, Carib Brewery (St. Kitts & Nevis) in Basseterre, and API Harowe St Kitts in Sandy Point. PM Harris was joined by 11 Government officials.
CS Global Partners is an international legal advisory and a government-mandated St Kitts and Nevis’ Citizenship by Investment agent.
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St Kitts and Nevis
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