Drew says financial blacklisting a bigger worry than visa-free access in CBI debate
The Prime Minister says the government is still gathering information on European concerns over citizenship by investment and will issue a statement.
BASSETERRE, St Kitts. Prime Minister Dr Terrance Drew says the risk of financial blacklisting deserves more attention than the possible loss of visa-free travel to Europe, as the government weighs its response to European concerns about Citizenship by Investment (CBI) programmes.
Speaking at his Roundtable media session on Thursday, Dr Drew said he had received information that operating a CBI programme could be a factor in decisions on financial blacklisting, a risk he said could put significant strain on the country.
"That is even worse than the visa," the Prime Minister said.
The European Union's revised visa suspension rules list the operation of investor citizenship schemes as a ground for suspending visa-free access to the Schengen area.
Dr Drew said the government was still collecting information and that a statement would follow. Any decision, he said, would be taken to protect the interests of the Federation.
In January the government announced plans to add a residency requirement for investors and to collect biometric data from prospective citizens in order to strengthen the programme's security. The Prime Minister said his administration has been working since 2022 to reduce the country's reliance on CBI revenue.
