Caribbean States Discuss Citizenship By Investment Programs

By Editorial 14 July, 2014

The Caribbean Community (CARICOM) has issued a communique supporting St Kitts and Nevis's Citizenship by Investment Program, but also highlighting the need for enhanced regulation to protect the reputation of such programs.

The communique was released after the 35th Regular Meeting of CARICOM heads of state, which discussed a report prepared by St Kitts and Nevis on its Citizenship by Investment Program.

CARICOM commended St Kitts and Nevis for its recent economic performance and acknowledged the importance of such citizenship programs in improving the fiscal position of some member states at a time of acute economic and financial stress.

CARICOM heads of Government, however, emphasized their strong support for efforts from St Kitts and Nevis to enhance oversight of the program to safeguard the integrity of the country and the program.

The communique also urged all countries engaging in such programs to co-operate and co-ordinate their regulatory systems with respect to citizenship by investment programs and to financial services generally.

Tags: Citizenship | Tax | Financial Services | International Financial Centres (IFC) | Offshore | Standards | Regulation | Services | Expats | Investment | Invest | Investment |


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