LONDON, January 31, 2019
LONDON, January 31, 2019 /PRNewswire/ --
On 29 January, a ceremony was held for the signing of the Old Road Bay Rehabilitation Project in Old Road Town, St Kitts and Nevis. The multi-million dollar project is to start construction around the beginning of March, and will provide a long-term, sustainable solution to disturbance in the main road network, which had been worsened by recent natural disasters.
The project is part of the country's policy of 'Sustaining Growth and Prosperity', which centres on a people-led, long-term investment programme. Also formed with this policy in mind is the investment fund option under the Citizenship by Investment (CBI) Programme: the Sustainable Growth Fund or 'SGF'. Under the Programme, businessmen and women and their families can obtain St Kitts and Nevis citizenship in return for an investment into the long-term development of the country.
The oldest CBI programme in the world, St Kitts and Nevis' Programme is frequently hailed as the 'Platinum Standard' of CBI. Based on this standard, the SGF offers aspiring applicants a route to second citizenship through a one-time payment with no additional financial or physical obligations. All monies invested into the fund go towards achieving growth and building the resilience of national industries, including agriculture, tourism, commerce, education, and healthcare.
The investment made into the country's future by economic citizens is a unique offering of the fund. Paul Singh, Director at CS Global Partners, an international legal advisory, suggests that this is a result of citizens becoming more interested in protecting their families' futures. According to Mr. Singh, "investing into St Kitts and Nevis' economy gives economic citizens a sense of protection. As the ability to safeguard their future and those of their family members and later generations becomes increasingly important to citizens, the SGF is a more popular option."
The Rehabilitation Project will also provide residents with increased job opportunities. The Honourable Prime Minister Dr. Timothy Harris stated that "this project […] will generate around 120 jobs in 2019." Expected to be finished within a 12-month period, the project represents another milestone achieved under the Sustainable Growth policy.