St Kitts and Nevis says it has approved the payment of a Citizenship by Investment (CBI) dividend to the citizens and residents of the twin-island federation.

The Prime Minister’s Office is expected to make an announcement giving details of the payout. The statement noted that the CBI dividend is a share of the profits and retained earnings received from the Citizenship by Investment programme.

“The CBI dividend will be facilitated through Saint Christopher and Nevis Social Security, and will be distributed in two tiers or categories,” the Prime Minister’s Office reported.

The first category is the pensionable and pensioners, and the second category is classified as those who are not yet pensionable.

FASTEST OVERALL PROCESSING TIME

In August, St Kitts and Nevis joined Dominica at first place in the 2022 CBI Index for the second straight year. The two countries, which each scored a total 81 out of 100, were ranked against 11 other countries with operational CBI programmes, which, in 2022 included Antigua and Barbuda, Austria, Cambodia, Egypt, Grenada, Jordan, Malta, Montenegro, St Lucia, Turkey and Vanuatu.

As the only programme with an accelerated application process ensuring a decision within 60 days, St Kitts and Nevis retained its title of having the fastest overall processing time of all jurisdictions, with a perfect score of 10 for the Citizenship Timeline Pillar.

In addition, St Kitts and Nevis received perfect scores for minimum travel requirements, ease of processing, due diligence, family and certainty of product, but falls behind Dominica due to its higher minimum investment outlay.