The Government of Saint Vincent and the Grenadines is hoping to roll out a Citizenship by Investment programme during the first quarter of 2027.

The announcement was made by Prime Minister Dr. the Hon. Godwin Friday during an interview with the Managing Director and News Editor of Television Caribbean, Andre Huie.

The discussion followed a World Bank meeting on accelerating the implementation of infrastructure development projects during the IMF/World Bank Group Annual Meetings in Bangkok, Thailand.

The Prime Minister outlined the Government’s plans for the Citizenship by Investment programme.

The Prime Minister stated: "It's a perennial topic now that there are headwinds against the Citizenship by Investment programmes; there are challenges and so forth. But then there are other countries—Argentina has just announced that it has embarked on its programme, there are countries in Europe that are doing so, and the region continues. We understand that there are opportunities available; we understand the concerns that are raised by, whether it is the European Union or other countries and so forth, regarding these programmes, and we are seeking to address those in a responsible way so that the benefits can still be had from the programme while addressing these concerns that have been raised. Both are valid and so, yes, we intend to proceed with a similar type of programme—not a Citizenship by Investment programme in the old sense, but one that requires much more due diligence, much more management from the centre, that is from our unit, one that is coordinated within the OECS so that the Central Bank plays a role in monitoring. We are thinking that perhaps during the first quarter of next year."

The Prime Minister said he is optimistic about the implementation of the Citizenship by Investment programme.

Dr. Friday added: "I believe with these safeguards and the adjustments that are made, and continued conversations with the EU and other countries that have raised objections, that we can proceed and do something that benefits all of us because, you know, time is of the essence and we are working very hard. We have a consultancy that is essentially putting the thing together and designing it based on making the adjustments for the things that I raised with you just now and the objections that other countries may have raised, ensuring the concerns that are coming from various quarters are addressed. And this is something that I know that my colleagues in the OECS, those who all have programmes, are actively considering, and they are making adjustments. The Central Bank is very much an integral part of that, and so I believe that with goodwill on both sides, that is to say those who are objecting and those who are executing these programmes, that we can come to a productive resolution on this matter."

SOURCE: National Broadcasting Corporation (NBC Radio)