ST.JOHN , Antigua (CARIBUPDATE/OCT 18, 2016) - Antigua & Barbuda may soon face tougher competition for its Citizenship by Investment Programme (CIP) in Dubai in the United Arab Emirates (UAE) after St Kitts and Nevis announced it would be speeding up its application approval process.
Antigua & Barbuda recently opened an embassy in the UAE headed by Ambassador and CIP agent Casroy James, which was geared toward increasing its CIP earnings from the region.
However, on Monday, the CEO of the Citizenship by Investment Unit (CIU) in St Kitts and Nevis, Les Khan announced the new reforms.
A release said that Khan, during last week’s two-day CBI Conference at the Crowne Plaza in Dubai, advised delegates that the CBI programme in St Kitts and Nevis will now be able to offer an Accelerated Application Process where applicants will be fast- tracked and approvals granted within 60 days.
The release said the CIU, under Khan’s leadership, has been undergoing a number of reforms including the strengthening of its vetting process and the implementation of a Technical Committee.
Khan said this therefore means that the same high standards of due diligence will apply to every new applicant, but as a result of increasing the team and expanding on their expertise, applicants will now be able to be fast-tracked at a premium