The 2017 Atlantic hurricane season has been one for the record books. It’s only the second
season on record to have two Category 5 hurricanes—the strongest classification of
storm—make landfall. But the record breaking season has unfortunately brought significant
damage and destruction to much of the Caribbean. And it’s not over yet.
While St. Kitts & Nevis has largely avoided some of the devastation by comparison to their
neighbours, the two-island nation has still felt the impact of Mother Nature. As a result, on
Friday September 23, 2017 the government of St. Kitts & Nevis approved a Hurricane Relief
Fund that will be backed with funds from the island’s Citizenship Investment Unit.
As part of the citizenship application process, investors are required to make a USD $150,000
investment in government sanctioned projects. With the new fund, a portion of this money will
now be set aside to help with recovery efforts in St. Kitts & Nevis. While the fund will initially be
focused on clean-up efforts within St. Kitts & Nevis, there are plans to offer aid to other
Caribbean nations who have been impacted over time.
According to a government issued press release, Prime Minister Timothy Harris was quoted:
“Although Hurricane Irma did not make a direct hit on the Federation, it caused danger to the
public sector and private property, with damages of substantial amounts to the order of 150
million and the Hurricane Season is not over yet. The government of St. Kitts and Nevis would
like to be in a position to provide assistance to its citizens and to make funds available for a
speedy recovery to the economy.”
He went on to mention: “The ethos behind citizenship by investment is about opening up the
Federation to investment that will have a direct impact on the quality of life of its citizens. The Hurricane
Relief Fund is an attractive option for citizenship applicants in the way it fulfils their own desire to make
a positive impact on the environment in which they are seeking to play an active part. It enables the
country and its people to recover more quickly and to ensure that the infrastructure and people’s
homes are fit and habitable where they have been damaged by this season’s hurricanes.”
For more information on the Hurricane Relief Fund, visit the Citizenship Investment Unit website.
