The government of St. Kitts & Nevis last week introduced a new investment opportunity under the country’s Citizenship by Investment Program. The Hurricane Relief Fund was launched in the wake of two major hurricanes in the Caribbean – Irma and Maria – which devastated many islands in the Caribbean, including neighboring Barbuda and Dominica.
St. Kitts & Nevis, however, was spared the worst of the hurricane season 2017, which is one reason immigration investment stakeholders are questioning the ethics of the new investment option. It is especially questionable at present, since the government has not clarified what “proportion” of the donation will go to relief efforts nor which charities or aid agencies will receive the funds.
The new investment option offers wealthy individuals and families with up to four members apply for citizenship in St. Kitts & Nevis by making non-refundable donation of only US$150,000 into the self-named Hurricane Relief Fund. Each additional dependent after third will have to make extra donation of US$25,000.
With the donation amount of US $150,000 for a couple or bigger family, St. Kitts’ Hurricane Relief Fund is now the most affordable economic citizenship program in the Caribbean.
In addition to the ethical dilemma the new donation option poses, its very legality is in question according to St. Kitts & Nevis opposition leader Dr Denzil Douglas who said in a recent address, “It has not been, in any way, supported by any legislative amendment, or regulation, or resolution in our parliament.”
Citizens International will publish a update as soon as more information is available.