New pier funded by Citizenship by Investment Programme

2019-03-02T19:35:52+00:00 March 2nd, 2019|Ports|

A second pier at Port Zante, St Kitts and Nevis, which will be able to receive up to three ‘Oasis’ class vessels simultaneously, is being funded by the Citizenship by Investment (CBI) Programme, administered by CS Global Partners.

Up to $500,000 per month is being spent buying local supplies for the pier which is currently under construction.
The Government is supporting local suppliers, businesses and workforce by involving them in the pier’s construction.
All of the rock is sourced locally, as is the timber, steel and fuel for the project. A number of local companies have been contracted to carry out the work, helping local businesses and creating about 100 new jobs.

“All the local companies are participating. Don’t lose sight of the fact that the material is being quarried locally,” said Ian Liburd, the Minister for Public Infrastructure.

He added that the Public Works Quarry is to do more than supply the materials for this ambitious project: “I am advocating that they bring the quarry up to a state of efficiency and effectiveness that we will start to export material from the quarry rather than importing.”

Over the past three decades, the twin islands have been attracting a select number of investors wishing to become its citizens. In March, 2018, Prime Minister, Timothy Harris, introduced a new investment channel called the Sustainable Growth Fund (SGF).

This balances investors’ need for a more straightforward yet secure way of obtaining second citizenship, while native citizens benefit from socio-economic advancement.

To ensure standards are upheld, St Kitts and Nevis recently introduced two new security layers to its already strict due diligence process – stricter escrow account legislation and digital fingerprinting.
International legal advisory, CS Global Partners, was mandated to promote the programme.