Aug 05 A small Caribbean nation helped popularize 'citizenship by investment' - now it's counting on it to make up for lost tourism
St. Kitts and Nevis, like many of its Caribbean peers, is highly dependent on tourism revenue.
But with its borders still closed to foreigners, the small country's pioneering "citizenship by investment" program could prove even more important than it has been in the past three decades.
Usually, revenue from wealthy foreigners shelling out hundreds of thousands of dollars for a second passport from the island accounts for 30% of the GDP gap in the government's budget, according to the CBI program head Les Khan. This year, he says, that could be much higher.
"Now that tourism is at a standstill," he said in an interview, "we expect that the CBI program will be a main driver for the next six months."
Around the world, secondary passports and alternative citizenships have been in high demand from geo-political unrest and the coronavirus, experts tell Business Insider. As more programs come online, Khan is feeling vindicated that the program he's led for three years now is being replicated so far and wide.
"Dominica, Antigua, Grenada, St. Lucia, Malta, Cyprus, Montenegro," he rattles off as examples. "You name it. All of these programs really originated from St. Kitts and Nevis."
Earlier this year, the country dropped its prices, offering a family of four passports for a $150,000 donation, down from $195,000. There are also other more expensive options to make a real-estate purchase that must be held for a set amount of years.
The discount should help keep demand steady, "but we're not in a race to the bottom," Khan said. "We're not trying to just be selling. It must be something that is solid and must be in line with our platinum brand."
It's not a brand that's been easy to build: "There is an idea that citizenship by investment is a conduit for money laundering and possibly tax evasion," says Kahn. "I can assure you that's not the case. Our due diligence is one of the strongest in the world."
But if travel restrictions - like those currently barring people from St. Kitts and Nevis, the United States, and plenty of others from countries around the world - continue, the other side of that brand could be lost, too. The next few months will decide if the country still has one of the most powerful passports in terms of visa-free entry in the region.
"We keep our fingers crossed," Khan said.
Source: https://www.businessinsider.com/st-kitts-and-nevis-citizenship-by-investment-thrives-amid-coronavirus-2020-8
Jul 01 Five Caribbean destinations achieve marine protection goals ahead of schedule
ANTIGUA - Five Caribbean countries and territories were recognized for their early achievement of the ambitious marine protection target they committed to when joining the Caribbean Challenge Initiative (CCI).
The CCI 20-by-20 Conservation Goal challenges members to conserve and manage at least 20 percent of their marine and coastal environment by 2020.
The Dominican Republic led the list of early achievers with approximately 75 percent of its marine area under protection, followed by St. Kitts and Nevis (50 percent), the U.S. Virgin Islands (44 percent), Puerto Rico (27 percent), and Haiti (23 percent).
"It is a momentous occasion to reach a conservation goal that will benefit the ocean and communities in the Caribbean for generations to come," said St. Lucia-based CCI Envoy Karolin Troubetzkoy, who honored the early achievers at a ceremony in Antigua last week.
The CCI is an innovative platform uniting government, the private sector and partners - such as funding agencies and NGOs - in a collaborative movement to conserve and sustainably manage the Caribbean's marine and coastal environments.
Launched in 2008, the CCI aims to incentivize Caribbean governments to meet their marine conservation objectives and to support them by catalyzing new funding and accelerating meaningful action. It also works to create more prosperous and stable economies - achieved through sustainable development and growth - to help ensure a more secure future for the entire region.
In congratulating the CCI "Early Achievers", Troubetzkoy noted that "recognizing these nations' successes in marine and coastal conservation is an important message to the other CCI members that getting to the 20 percent target by 2020 is not an impossible goal." She hoped to be celebrating with the remaining CCI destinations next year.
In addition to the awardees, four other Caribbean countries and territories were celebrated for taking steps to propose marine areas that will more than double their current levels of protection. These included the Bahamas, the British Virgin Islands, Grenada and St. Lucia. The Bahamas recently announced that it will declare an additional eight-plus million acres of marine protection, which will more than double its area of protection and meet the CCI 20-by-20 target ahead of the 2020 deadline.
Source: https://www.traveldailynews.com/post/five-caribbean-destinations-achieve-marine-protection-goals-ahead-of-schedule
Jul 20 St.Kitts World Famous Frigate Bay Strip to Get $7Million Upgrade
The World Famous Frigate Bay Strip will be undergoing major upgrades and enhancement shortly. That's according to Minister of Tourism Hon. Lindsay Grant.
Minister Grant mentioned the exciting new developments at the Frigate Bay Strip recently.
"The government considers that we have to do our part so we have just broken ground more or less not officially as yet but probably in the next month or so for the 7 million dollar infrastructure we are placing on the frigate bay strip in St. Kitts to enhance the tourism product," he informed.
Minister Grant said he expects plans will be put in place to "replenish and re-energize" the beaches in Frigate Bay and along the coastline which have been damaged by coastal erosion.
The Frigate Bay Strip is the hub of island nightlife, food and entertainment in the Federation. Bars and Restaurants such as Mr X' Shiggidy Shack, Vibes Bar and Grill, Boozies, Buddies, Inons', Breezes and the Docks are just some of the establishments currently housed at the strip.
The $7 Million upgrade will likely include a boardwalk, parking and amenities.
Source: http://timescaribbeanonline.com/st-kitts-world-famous-frigate-bay-strip-to-get-7million-upgrade/
Apr 27 St. Christopher Club to host the swimming portion of the St. Kitts and Nevis Special Olympics
St. Kitts and Nevis (WINN):Special Olympian hopefuls on St. Kitts and Nevis will participate in their National Games starting this Wednesday at the Kim Collins Athletics Stadium.
Nadine Natta, Special Olympics Association Board Member, told WINN FM that around fifty athletes will contest a number of events with a view to qualifying for the Special Olympics National Summer Games Sheffield, England in August 2017.
"From St. Kitts and Nevis we have about fifty athletes who will be participating in the Games. We will have athletics on Wednesday, including walking, running and other events. On Thursday we head to Nevis for floor hockey or bocce and on Saturday we have the swimming competitions at the St. Christopher Club in Frigate Bay," she said.
On Wednesday the events begin at 9:30 am and run until 5pm and on Saturday the swimming completion will take place at the St. Christopher Club from 9:30am to 3pm. Teams from Connecticut and St. Maarten will be competing with the local athletes. The teams will all comprise adults and young children.
The Association is extending an invitation to the general public to attend the games and show their support for the Special Olympians. The 2015 contingent to the games returned home with several medals.
"We're asking the general public to come on out and support these events; they are all free of cost so we want you to come and show support for these athletes, cheer them on, and show them that we care about Special Olympics."
Source: http://www.winnfm.com/news/local/16673-special-olympians-gear-up-for-national-games
Oct 28 2013 MaccaX Nevis Triathlon will be staged on the Caribbean island of Nevis
St. Kitts & Nevis - As the end of the 2013 multisport season draws to a close, the Nevis Tourism Authority and the St. Kitts & Nevis Triathlon Federation has officially launched the Macca X Nevis Triathlon to take place on Saturday, November 16th 2013. This follows the signing of a partnership agreement between the Federation and professional Triathlete, and multiple times Ironman World Champion, Chris 'Macca' McCormack.
The 2013 Macca X Nevis Triathlon will be staged on the Caribbean island of Nevis which has been recognized as one of the most exotic places to race and the triathlon, a must-do on the racing circuit.
The international meet is one of triathlon's premier races attracting entrants from around the globe including Australia, France, USA, Great Britain, South Africa and Brazil; as well as the Caribbean region. The completion consists of a 1.5K swim, 60K cycle event and 10K run, plus a standard sprint distance, 750m/20k/5k.
The 3 day triathlon festival will kick off with a swim event and a charity 5k run that has McCormack and the other visiting triathletes competing.
Greg Phillip, Chief Executive Officer of the Nevis Tourism Authority, said, "We are thrilled to have Chris on board. His collaboration with the Nevis Tourism Authority and the St. Kitts & Nevis Triathlon Federation will bring our event to the attention of more athletes and will increase the level of participation".
Speaking of his association with the Nevis Triathlon and the re-branding of the event as the Macca X Nevis International Triathlon Mr. McCormack said, "I am looking forward to again returning to Nevis to race. The island is magical and the 'course' presents a unique challenge in a stunningly beautiful environment. I have raced in some incredible places but Nevis is seriously spectacular. This is a beautiful and energetic race with a feeling of camaraderie among the participants and I am pleased to be now officially associated with the event".
The Nevis International Triathlon began 11 years ago as a celebration of Tourism Week on the island. Over the years, the event has been recognized internationally for the high standard of competition by triathlon publications.
In 2008 Triathlete Magazine listed it as one of its Top 5 Must-Do Races. In 2011 Triathlete Europe named it on its list of Top 20 Must-Do Races. In 2011 L'Equipe Magazine listed Nevis as one of its three most exotic locations for triathlon.
Source: http://sflcn.com/story.php?id=13135
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