The St Kitts and Nevis Poverty Alleviation Programme gave out its 2nd payment last month to 3,500 residents. The scheme is designed to improve the economic well-being of citizens of the twin island state. The scheme is funded by St Kitts and Nevis' successful Citizenship by Investment Programme (CBI).
Launched by Prime Minister Timothy Harris on December 24th, 2018, the programme has already distributed EC$3.1 million to those people on the islands whose gross household income is below EC$3,000 per month. The Prime Minister explained the scheme in detail during a meeting of the National Assembly on February 20th. Prime Minister Harris also proudly noted that some beneficiaries of the programme have seen their financial circumstances change and reported that they would voluntarily renounce the EC$500 aid so that others in more need could benefit from it instead.
"On Christmas Eve, December 24, 2018, this programme was launched at the convenient location of Independence Square in the full view of all and in the sunshine of transparency that we have brought to the government. Let me end on a note of gratitude […] to all those who are helping us with the implementation of this programme. A lot of people have been impacted immensely by this policy initiative," said Prime Minister Harris.
Funding comes from investors around the world that became citizens of St Kitts and Nevis. "It is the incredible success of our CBI Programme that has provided the fiscal space for us to […] introduce our Poverty Alleviation Programme." The CBI Programme allows foreign investors to contribute to a national development fund, such as the newly-introduced and straightforward Sustainable Growth Fund, in return for second citizenship. Established in 1984, St Kitts and Nevis has the longest-running CBI programme in the world, recognised as the 'Platinum Standard' of the industry. It recently became the first Caribbean CBI jurisdiction to introduce a digital fingerprinting system as part of its strict due diligence framework, which all applicants must pass before being welcomed as economic citizens of St Kitts and Nevis.
CS Global Partners is the international legal advisory mandated by the Government to promote their Citizenship by Investment Programme worldwide.
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