Allegations of fraud in the citizenship by investment programme of St Kitts and Nevis have followed revelations supported by documentary evidence that agents in Dubai are selling passports at substantially below government-sanctioned rates.

Caribbean News Now is in possession of a copy of a letter purportedly sent by the Citizenship by Investment Unit (CIU) of St Kitts and Nevis to a local authorised agent. The letter states that “the application via real estate option” in a named development for a specified individual “has been approved in principle for Citizenship by Investment”.

The letter goes on to say that “payment of US$150,000 must be made within six months”. However, the minimum amount required by law under the real estate option is an investment of $200,000, not $150,000 as stated in the letter.

In other words, the applicant receives nothing of tangible value in return for his purported real estate investment except for St Kitts and Nevis citizenship, as would be the case if the applicant had instead made the optional contribution to the country’s Hurricane Relief Fund or Sustainable Growth Fund. However, under this scheme, others pocket the money instead of the government, without giving anything of concrete value in return.

Agents involved in this deceit can make upwards of US$100,000 per application, compared to the customary government commission of US$15,000, to the detriment of the people of St Kitts and Nevis.

Other Caribbean islands have been plagued by similar skullduggery. AAA Associates and Bluemina CBI consultants have been similarly promoting these dubious schemes.

In the meantime, Caribbean News Now also has copies of emails and written proposals from Savory & Partners sent within just the past few days to other potential clients offering St Kitts and Nevis citizenship at investment amounts far below what the CIU has confirmed are the legal requirements.

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