BASSETERRE, St Kitts (CMC) — Prime Minister Dr Denzil Douglas has defended the Citizenship by Investment Programme (CIP) under which investors are provided with St Kitts-Nevis passports in return for making substantial investments in the country.

Addressing supporters of his ruling St Kitts-Nevis Labour Party (SKNLP) on Tuesday night, Dr Douglas, who is also the minister of finance, said the programme has contributed significantly to the socio-economic development of the twin-island federation.

“The economy will continue to grow, it will continue to experience growth rate no less than six per cent every year and eventually will go beyond six per cent,” he said, noting that “this economic activity and development will be spurred mainly by the continued support of the Citizenship by Investment Programme”.

He said the CIP has now become “a leading global programme”.

Last November, the Canadian Government said it would impose visa restrictions on nationals from St Kitts-Nevis, joining citizens from “the vast majority of Caribbean nations and citizens of some 147 countries”, where visas are needed to enter the North American country.

Opposition politicians said that the decision by Ottawa was a result of the CIP and may have also been influenced by an Iranian national holding a diplomatic passport issued by the St Kitts-Nevis Government.

“It was obvious that the security features of our CIP were causing great concern within the borders of friendly nations. Fellow Kittitians and Nevisians, it is an oft-stated truism that every action has consequences,” Opposition Leader Mark Brantley said then, noting that “this unprecedented step taken by the Canadian Government tells us all that they are unhappy with the security measures in place in St Kitts and Nevis in relation to our Citizenship by Investment Programme”.

Brantley said he would communicate with the Canadian Government “assuring them of our commitment to amicably resolve with them any concerns about the safety and security of our CIP programme”.

But Prime Minister Douglas, who is seeking a fifth consecutive term as head of government, told supporters that his Administration had, as recently as two weeks ago, continued to improve the ability and the capacity of the programme to detect any investor who is unwanted because of his past.

“We launched what is now called the regulatory commission for the Citizenship by Investment Programme being charged with extra responsibilities of ensuring that our programme cannot be abused by those who wish to become engaged in money laundering or who may be looking for a second passport in order to commit international crime,” the prime minister said.

He added that his administration had made sure that the twin-island Federation had become “much more serious and sensitive to the issue of fighting against criminal activity and terrorism globally here in our world”.

“We believe that this (CIP) will continue to attract, therefore, the best of those whom we wish to be here in St Kitts-Nevis as our investors. We want to make it absolutely very clear to our lawyers, our accountants, those who are working in the financial services sector, those who are working in the Citizenship by Investment Programme as service providers that you will be assured that this programme will continue to expand and will continue to hold its place globally as it is holding here.”

He said although Basseterre would continue to lend support and guidance to its Caribbean neighbours, like Antigua and Barbuda, Grenada, St Lucia, and Dominica, “we will continue at the same time to ensure that we remain the leading global programme that is attracting investors from around the entire world”.