St. Kitts and Nevis: The Director of Public Prosecutions’ (DPP) Office announced today that it will be launching a formal investigation into the administration of the Citizenship by Investment (CBI) programme before the significant reforms implemented by the current Federal Administration.
The DPP Office emphasised the importance of ensuring a fair and independent inquiry, particularly in light of the potential political implications of the investigation. The Office has received assurances from the Federal Administration that they will fully support an independent and impartial process, allowing the investigation to proceed.
The DPP Office plans to appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of outside investigators. At least one local investigator, in whom the Office has full confidence, will also be part of the investigative team to ensure collaboration and local oversight.
The Citizenship by Investment programme, established as the oldest of its kind globally, allows individuals to obtain citizenship through significant financial contributions or investments in government-approved real estate or development projects. Currently, the programme requires a minimum donation of $250,000 USD or a minimum investment of USD 400,000.
In recent years, concerns have been raised about the administration of the programme before the recent reforms, including issues of underselling citizenships, transparency, and financial accountability.