The chief executive officer at the St Kitts band Nevis Sugar Industry Diversification Foundation (SIDF), Terrance Crossman, has been terminated following an in depth investigation into the SIDF.

The Citizenship by Investment program for St. Kitts and Nevis has had a considerable, positive impact on the country’s economy; according to the International Monetary Fund. It has contributed to GDP growth and reduced the country’s debt. Now, the challenge is for St. Kitts and Nevis to maintain the interest in the program that has been such a positive driver on its economy.

St. Kitts and Nevis, a two-island country in the West Indies, has probably the most discussed Citizenship by Investment Programme in the world. The program was introduced in 1984, just after St. Kitts & Nevis gained its independence from Great Britain; making it the oldest program of its kind. The country has had a rough history when it comes to its Citizenship by Investment Programme (CIP). In the first decades, there was little interest in the program, and then this interest skyrocketed, leading to long processing wait times. Even worse, there were some concerns with the country’s due diligence process which, once discovered led to an overreaction by the government that turned away worthy, potential CIP applicants. Now; however, reforms are putting this program back on the map.