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Wednesday, 10 August 2016

St. Kitts-Nevis PM wants closer Caribbean collaboration to boost economy

St. Kitts-Nevis Prime Minister Dr. Timothy Harris is calling for closer collaboration as Caribbean countries seek to implement various forms of a Citizenship by Investment Programme (CIP) as a means of boosting investments in their respective countries. Harris, who is leading a delegation to attend the funeral of a Dominica-born St. Kitts-Nevis Police Force member, said that the programme is a massive revenue earner but warned that new entrants may take action that could undermine the programme. St. Kitts-Nevis, Dominica, St. Lucia and Antigua and Barbuda have CIP programmes allowing for foreign investors to make significant investments in designated areas outlined by the countries and in return have the opportunity to receive citizenship from the country. “We have been arguing that there is a need for all countries in CARICOM (Caribbean Community) that are participants in this programme to come together to develop standards for the industry and for the region as a whole so that we do not get into cut throat competition with ourselves,” said Prime Minister Harris.