Financial Crime World

St. Kitts and Nevis Enhances Citizenship by Investment Programme with New Due Diligence Unit

Strengthening Reputation Internationally

Basseterre, St. Kitts - The government of St. Kitts and Nevis has announced plans to establish a Continuing International Due Diligence (CIDD) unit aimed at further strengthening the country’s Citizenship by Investment (CBI) programme and protecting its reputation internationally.

Headed by Experienced Professional

The new CIDD unit will be headed by Ian Queeley, former Commissioner of the Royal St. Christopher and Nevis Police Force and current Ambassador for the Eastern Caribbean States to the Kingdom of Morocco. According to Prime Minister Dr. Terrance Drew, the unit’s primary objective is to protect the country’s reputation on the international stage.

“We are serious about engendering confidence in our international partners that we are serious about their security as well,” said Dr. Drew during a recent sitting of the National Assembly.

Responsibilities and Objectives

The CIDD unit will be headquartered in Europe and will conduct continuing due diligence on economic citizens worldwide. The unit’s responsibilities include:

  • Ensuring that citizens holding passports issued by St. Kitts and Nevis abide by the laws of the countries they reside and work in, respect international laws, and alert the Ministry of National Security if they are being investigated or charged with financial or other crimes.
  • Liaising with international law enforcement agencies, anti-money laundering and anti-terrorist financing agencies when St. Kitts and Nevis citizens are being investigated for committing or have been arrested and/or charged with financial or other crimes internationally.
  • Retrieving passports issued by St. Kitts and Nevis which have been cancelled by the Ministry of National Security.
  • Seeking to create policies to mitigate and address any risks associated with St. Kitts and Nevis citizens who obtained their citizenship via the CBI programme.

Operationalization

The Prime Minister emphasized that the government is taking measures to ensure strict security measures are in place to protect both the country and its international partners. The Continuing International Due Diligence unit is expected to be operationalized by July 31, 2024.