St. Kitts and Nevis Prime Minister Dr. Terrance Drew Prepared to Revoke Citizenship By Investment Grants

On Thursday, Prime Minister Dr. Terrance Drew addressed two major civil lawsuits alleging misconduct in the Federation’s Citizenship By Investment Programme (CBIP). The lawsuits, filed in the United States and St. Kitts, allege that between 2021 and 2022, there were instances of developers offering citizenship for amounts below the statutory minimum investment required.

The lawsuit in Florida also claims that these practices are still occurring in another region. Prime Minister Drew stated, that the King’s Counsel has been directed to proceed with this judicial review, and should any investments be proven unlawful, he is ready to take the necessary legal steps under the Citizenship Act to revoke citizenships obtained through fraudulent means. However, he will only act based on solid evidence, ensuring due process for every citizen.

These lawsuits were brought forth by Phillipe Martinez and his MSR Entities, who were recently designated as the sole public benefactor of the St. Kitts and Nevis CBIP Public Benefactor Option by the Drew administration. This legal challenge, along with Prime Minister Drew’s readiness to potentially revoke thousands of citizenships, could significantly impact the program, which has been vital to the nation’s economy over the past decade.

The CBIP has attracted considerable foreign investment, strengthening the nation’s economic base. Nonetheless, these allegations and potential revocations jeopardize the program’s reputation and future. The Prime Minister’s position could profoundly affect the program’s sustainability.

As the judicial review moves forward, the emphasis will be on confirming the legitimacy of previous investments and ensuring all involved parties receive due process. The outcome may critically influence the future of the CBIP and its economic role in St. Kitts and Nevis.