Premier of Nevis, the Honourable Mark Brantley, has announced that the Nevis Island Administration (NIA) and the Federal Government have reached a landmark agreement on Nevis’ fair share of revenue generated under the St. Kitts and Nevis Citizenship By Investment (CBI) Programme, bringing resolution to a long-outstanding contentious issue.
Premier Brantley made the announcement during his presentation of the 2025 Budget Address in the Nevis Island Assembly on Tuesday.
He disclosed that following extensive dialogue,
through negotiations with the Federal government, an agreed share of 25 percent of CBI flows will now come to the NIA realizing the long advocated for position of my Government that such revenue be shared on a pro rata population basis.
In addition to the percentage allocation, he revealed that the NIA is also set to receive $4.8 million in grant funding to further support its revenue stream.
The Premier, who also serves as Minister of Finance, noted that given the recent slowdown of the CBI industry in the region, the NIA has adopted a cautious approach in forecasting revenue from the CBI programme.
He reminded the public that,
our Citizenship by Investment Program has slowed drastically to the extent that the projected annual revenues have fallen way below that which was realized in previous years.
Moreover, he added that,
we are projecting that our annual share of revenue from the CBI programme will fall below the $66 million previously received. To be conservative, we have budgeted the amount of $35 million as a moderate share of revenue from the program for the upcoming fiscal year.
The Premier estimated that Nevis’ CBI share combined with grant remittances is expected to total approximately $39.8 million.
Nevis has already begun receiving its 25 percent allotment.
