NIA CHARLESTOWN NEVIS (March 12, 2024)- Premier of Nevis the Honourable Mark Brantley says he anticipates the issue of equitable sharing of the revenue generated by the St. Kitts and Nevis Citizenship By Investment (CBI) programme between the twin islands will soon be resolved.
Premier Brantley made the disclosure during his most recent press conference, having met with Prime Minister of St. Kitts and Nevis the Honourable Dr. Terrance Drew mid-February.
“On the issue of ‘Fair Share’, in my last conversation with Dr. Drew we discussed this and I do not want to speak out of turn because I anticipate that he will want to say something on this in short order.
“I’m told that matters are nearing completion. I will give him the courtesy to be the one to announce what that analysis shows and so we expect that that will be available quite shortly.”
Since Dr. Drew’s ascension to Prime Minister in August 2022, both leaders have led talks on the long-debated issue with a view to brokering a sustainable revenue-sharing arrangement between the Federal Government and the Nevis Island Administration.
Hon. Brantley has maintained that just as St. Kitts has done over the program’s history, Nevis and Nevisians should also benefit from the proceeds of the federal resource. He has maintained that the CBI proceeds should be fairly apportioned on a pro rata basis.
Prime Minister Drew had stated that a committee would be established and help would be sought from external agencies to analyze a revenue sharing arrangement between St. Kitts and Nevis, taking into account the Federation’s constitutional construct.
While addressing the subject of ‘Fair Share’ Premier Brantley dispelled aspersions made by the Opposition on Nevis that the NIA had received an extra five million dollars from CBI proceeds in addition to the established monthly allotment.
“That is not accurate at all. I can confirm that there have been no additional sums to the NIA from the Citizenship By Investment inflows.
“There have been no additional funds coming from the CBI to Nevis other than what we have been getting since on or about 2022. What I will say is that Prime Minister Dr. Drew has made available to Nevis a portion of funding that the country is receiving from our friends the Republic of China (Taiwan) and that does come out to about five million dollars, so I’m not sure if that is where the confusion came from,” he stated.
The Premier explained that some of those funds would have been utilized for phase two of the ongoing Pinney’s Beach Project, which is nearing completion.
He further revealed that some of those funds will this year go to upgrading facilities that will be used to host Culturama events, and to assist with the NIA’s water drilling project.
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