During the course of the COVID-19 pandemic, the government of St Kitts and Nevis has ensured that its citizens are financially supported by introducing a series of fiscal strategies. Recently, the government announced a monumental $15 million income support programme that would distribute $1000 every three months to those who fit the eligibility requirements. This is the latest financial package designed to alleviate the hardships faced due to the economic impact caused by the pandemic.
Electricity Bills
Aside from providing income support, Prime Minister Timothy Harris also announced that the government would be waiving commercial rent for small businesses, introducing provisions for bus operators and establishing a deferral on residential electricity bills amongst other significant measures. Since the onset of the pandemic, the government have committed to providing financial and social assistance particularly to its most vulnerable population which included introducing a $120 million stimulus package last year.
“Our priority is to support those most in need at this time and to support as many persons as possible,” Prime Minister Harris said during a recent press conference. “In other words, we want to be fair, and we want to be equitable in the reach of the support which the government is providing.”
Investment Programme
One of the key supporters of the economy over the last year has been St Kitts and Nevis’ Citizenship by Investment Programme. The initiative which generates revenue from wealthy investors seeking out second citizenship has been utilised to keep the islands afloat as it dealt with the decline in tourism.
“Had it not been for the CBI programme we would not have been able to respond as successfully as we have with respect to COVID-19,” PM Harris noted last year.
Notably, CBI has helped fund the Poverty Alleviation Programme (PAP), an initiative that provides low-income households with a monthly stipend of $500. The PAP was extended last July and has since supported thousands of households across the islands.
About CBI Programme
Established in 1984, St Kitts and Nevis has been operating the world’s longest-standing CBI Programme. With over three decades of experience, the programme has won the trust of investors globally particularly in regions like Southeast Asia. For wealthy investors who want to diversify their assets whilst also accessing greater travel freedom, St Kitts and Nevis’ CBI offers a straightforward route to achieving this under its Sustainable Growth Fund.
Once granted citizenship, investors gain the right to live, work and study in the country along with visa-free or visa-on-arrival to nearly 160 destinations and the ability to pass citizenship down through descent.
