LONDON, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The Federation of St Kitts and Nevis has been crowned as the highest-ranking Caribbean nation in a new report that investigates the value of citizenship through the lens of the global citizen.
The World Citizenship Report (WCR) was conducted by CS Global Partners, a leading government advisory and marketing firm. The WCR highlights the World Citizenship Index (WCI), an innovative tool that compares world citizenships from the perspective of a global citizen. The index’s methodology assessed 187 jurisdictions across five key motivators defining citizenship for the global citizen.
It also took into account interviews from over 500 self-proclaimed global citizens. The WCR ranked the dual island nation the highest of all the Caribbean Citizenship by Investment (CBI) nations in the region, with a score of 48 points in the overall ranking. It also performed well in the Safety and Security, Quality of Life and Global Mobility motivators.
According to the report, St Kitts and Nevis “boasts a stable government and robust economy. The nation has been attracting economic citizens since 1984, making it one of the most trusted and successful programmes of its kind. The St Kitts and Nevis CBI Programme has allowed investors and their families to legally obtain citizenship of one of the most idyllic locations of the region.”
The nation has a bright future filled with new opportunities, including a positive outlook for 2022, as it works towards building its own sustainable nation in which all citizens will benefit.
Positive Economic Outlook for 2022
According to the International Monetary Fund (IMF)’s prediction for 2022, this will be a year of steady economic growth for St Kitts and Nevis. The IMF also noted that the nation’s CBI funds contributed to reducing public debt well below the regional debt. In the past 7 years, the Team Unity Government has reduced the country’s debt from 186 percent of Gross Domestic Product (GDP) in 2021 to 40.6 percent in 2020.
Furthermore, in a Virtual Protocolary Meeting of the Permanent Council of the Organization of American States (OAS) earlier this month, the country performed well on a number of economic performance scorecards.
“The World Bank data for 2019 for example, shows that, setting aside the United States of America and Canada which are not in our peer group, St Kitts and Nevis ranked third among the remaining 32 OAS sovereign states in per capita GDP. Only the Bahamas and Panama were higher,” said Prime Minister Timothy Harris, who is also the Federal Minister of Finance.
A Bright Future for St Kitts and Nevis
In a recent national address, Prime Minister Harris called on the private sector for support in order to deliver an even stronger economic growth scorecard.
“We need all of us working together as partners, and I am confident that we shall deliver more working together. We have always been resilient and innovative people. It is that innovation and resilience we must continue to employ in the face of the current challenges. It is what we need to find niches and opportunities for our continued advancement, despite living with COVID-19,” he said.
2022 will see an increase in strategic and direct investment in citizens, infrastructural development, and institutional strengthening in order to propel the nation towards achieving its development goals. These important projects are substantially funded by the nation’s CBI Programme.
The Platinum Standard Citizenship by Investment Programme
Established in 1984, St Kitts and Nevis’ Citizenship by Investment Programme is the longest-running in the world. With nearly four decades of experience, the Programme is one of the most coveted and has become known as the ‘Platinum Standard’ brand in the industry.
The Programme empowers wealthy foreign investors and their families to acquire second citizenship once contributing to the Sustainable Growth Fund (SGF). The fund is hailed as the most straightforward route to a second citizenship. Investments made to the SGF are channelled into important development projects on the islands, from education to healthcare to tourism.
Once undertaking the diligent multi-tiered vetting process, successful applicants gain citizenship, which comes with a plethora of other benefits. These include global mobility, the right to live, work and study in the nation and lastly, the option to pass down citizenship for generations to come, securing one’s future legacy.
“The robust procedures that are embedded in the CBI programme have enabled us to maintain our Platinum brand and have ensured we take a significant share in the major markets around the world,” said Prime Minister Harris.