DPP TO LAUNCH INVESTIGATION INTO PREVIOUS IRREGULARITIES IN CBI PROGRAM: INQUIRY WILL FOCUS ON ACTIVITIES PRE-DATING RECENT REFORMS

BASSETERRE, St. Kitts, September 20, 2024 (SKNIS) – The Director of Public Prosecutions’ Office (DPPO) announced today that it will be launching a formal investigation into the administration of the Citizenship By Investment (CBI) program prior to the significant reforms implemented by the current Federal Administration.

The DPPO emphasizes the importance of ensuring a fair and independent inquiry, particularly in light of the potential political implications of the investigation. The DPPO has received assurances from the Federal Administration that they will fully support an independent and impartial process, allowing the investigation to proceed.

The DPPO plans to appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of outside investigators. At least one local investigator, in whom the DPPO has full confidence, will also be part of the investigative team to ensure collaboration and local oversight.

The Citizenship By Investment program, established as the oldest of its kind globally, allows individuals to obtain citizenship through significant financial contributions or investments in government-approved real estate or development projects. Currently, the program requires a minimum donation of $250,000 USD or a minimum investment of $400,000 USD.

In recent years, concerns have been raised about the administration of the program prior to the recent reforms, including issues of underselling citizenships, transparency, and financial accountability.

-30-