Economic citizenship abuse may have cost St.Kitts & Nevis millions of dollars

Online publication, Caribbean News Now, has reported that there is still an ongoing abuse of the St. Kitts and Nevis Citizenship by Tnvestment Programme (CIP) and this may have already cost the country and its government between US$30 million and $130 million in lost revenue and overall economic impact.

“Multiple allegations of apparent fraud in the St Kitts and Nevis CIP have surfaced recently, involving forged letters of approval, unmonitored switching from the donation option to the real estate investment option, misappropriation of client money into personal bank accounts, and illegally financed unsanctioned discounts,” according to an article which appears in the publication.

The article further states,  “Although, according to documents in the possession of Caribbean News Now, this abusive and possibly fraudulent activity has been going on since at least 2016, the frequency appears to have escalated following the introduction of the so-called Hurricane Relief Fund (HRF) donation option following Hurricanes Irma and Maria in September 2017, which substantially reduced the required donation from US$250,000 to US$150,000 for a single applicant.”

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  1. Millll
    July 13, 2019


  2. January 12, 2019

    I was paging through a copy of African Business magazine recently and it was full of ads for SKN’s CIP. So whatever may be wrong with it, the programme is still moving ahead at full speed..

  3. Looking
    January 11, 2019

    Dominica name along with lawyers names was in off shore accounts in the Panama Papers, A passport agent donates tablet computers and monies to a charity owned and operated by ‘we all know who’. Nobody cares because we are either afraid to ask questions, too busy grabbing something for ourselves or simply don’t care.

  4. %
    January 11, 2019

    What is happening in St Kitts pales into insignificance relative to what exists on island. Dominica’s CBI programme lacks both transparency and accountability…What is sure is that it has made an extremely small percentage of the population filthy rich,while the majority had to assemble on Wednesday past, at the Red Clinic to get $50.00 ,$100.00, money to buy milk,rice, sugar,etc..
    The backbone of the economy is passport selling. How many new citizens? .We don’t know. What is certain is that some of the citizens do not even know the country.
    Steve Croft of CBS in a 2017 interview mentioned that Dominica has spawned many dodgy diplomats,because of the sale of diplomatic passports under the table .Poor leadership and lies have turned Dominica into a mess.

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