St. Kitts and Nevis’ Citizenship by Investment Programme Scores Top Marks for Due Diligence Procedures
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In a recent assessment by Professional Wealth Management, a publication from the Financial Times, St. Kitts and Nevis’ Citizenship by Investment programme has emerged as one of the top performers in the region when it comes to due diligence procedures.
Top Scores Across Multiple Indicators
According to the CBI Index, which evaluated 12 countries offering citizenship-by-investment programmes, St. Kitts and Nevis received top scores for its comprehensive due diligence procedures. The programme also excelled in other areas including:
- Mandatory travel or residence: Perfect score of 10/10
- Citizenship timeline: Perfect score of 10/10
- Ease of processing: Perfect score of 10/10
Comprehensive Due Diligence Process
At the heart of St. Kitts and Nevis’ due diligence process is a four-tier vetting system designed to ensure that no individual of ill-repute is accepted into the country’s programme. The process begins at the level of the agent interacting with the client, where:
- Anti-money laundering (AML) and Know Your Customer (KYC) practices are implemented to verify the applicant’s character and background.
Once the file is submitted, it is reviewed by an international due diligence provider, which conducts a deeper dive into the applicant’s financial records, media presence, and any potential sanctions or watchlists. The final level of screening involves:
- Sending the applicant’s name to international law enforcement agencies for further verification against Interpol databases and sanction lists.
Robust Due Diligence Process
According to Chief Executive Officer of the Citizenship by Investment Unit (CIU), Les Khan, this multi-layered approach ensures that St. Kitts and Nevis has “one of the most robust due diligence processes that cover all different angles”. The country’s commitment to rigorous due diligence procedures is reflected in its top scores across multiple indicators, making it an attractive option for individuals seeking citizenship through investment.
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