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Thu, Nov 14, 2024 | Jumada al-Awwal 12, 1446 | DXB
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UAE: St Kitts and Nevis to enhance citizenship by investment programme
Caribbean country invites investors to benefit from, 'cash in on' opportunities in diverse sectors, especially renewable energy
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St Kitts and Nevis is seeking investments from the UAE in a wide range of sectors, especially renewable energy. It has also invited UAE investors to benefit from the opportunities in the Caribbean country, said Dr Terrance Drew, Prime Minister of St Kitts and Nevis.
“We had a number of discussions with the UAE officials on a number of topics and one of them is renewable energy. The citizens and residents of UAE can also benefit from the investment opportunities that St Kitts and Nevis offers. I invite residents and citizens to cash in on those opportunities,” said Dr Terrance during his first visit to Dubai.
He invited UAE residents to invest in tourism, renewable energy, real estate and healthcare.
“We have noted many opportunities of mutual benefit for our two countries and continue to explore deeper cooperation in areas of renewable energy development, climate change adaptation and tourism,” he said.
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He added that the UAE government has expressed interest in assisting his country in adapting stronger climate change resilient measures, particularly as it relates to infrastructure.
“We are looking to apply new technologies and science to help keep us safe from the forces of nature and the UAE has shown a knack for developing and constructing structures that are durable and resilient. That is certainly an area we will take advantage of with speed, as the shared knowledge will help us manage challenges in those areas.”
Marsha Henderson, tourism minister, and Garth Wilkin, attorney-general, also accompanied the prime minister during his visit.
Enhancing citizenship by investment programme
The UAE is also assisting the Caribbean nation in setting up desalination plants powered by renewable energy to meet its water need as the country expands, thanks to its successful citizenship by investment programme.
St Kitts and Nevis is a pioneer in the citizenship by investment programme, which is quite popular among high net-worth individuals and investors seeking citizenship in other countries.
“Citizenship by investment programme is very solid for a robust due diligence practice and we want to enhance that. We are finalising our policies with respect to our programme. The world is changing and the programme has to adapt as well. We want to make sure that this programme is open and transparent and meets the needs of our people as well,” said Dr Terrance during a press briefing during his visit to Dubai.
Dubai's progress amazes PM
St Kitts and Nevis premier praised Dubai’s marvellous growth and achievements over the past two decades.
“This is my first visit to Dubai. Someone showed me ‘Old Dubai’ and ‘New Dubai’. And this was done in 20 years. It is amazing, to say the least,” Dr Terrance said, praising the iconic Palm Jumeirah and hoping to replicate it in the Caribbean country.
He also praised the emirate’s approach towards innovation because this gives people opportunities to advance business.
“We will form a ‘Department of Innovation’ because innovation significantly advances society.”
Waheed Abbas
Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too.
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