Latest / IMI Podcasts / St Kitts Revokes 13 Citizenships, Blacklists 2 Well-Known Marketing Agents

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St Kitts Revokes 13 Citizenships, Blacklists 2 Well-Known Marketing Agents · IMI Podcasts

• 0:00
  SPEAKER_00: St.
• 0:00
  SPEAKER_00: Kitts and Nevis has stripped citizenship from 13 investors and their dependents, permanently blacklisted two marketing firms, and canceled its agreement with MSR Media.
• 0:10
  SPEAKER_00: The government announced these enforcement actions yesterday as part of a crackdown on violations within its citizenship by investment, also known as CBI program.
• 0:19
  SPEAKER_00: The actions follow a comprehensive investigation by the Ministry of National Security that reviewed 158 applications from clients of two international marketing agents linked to suspicious practices.
• 0:34
  SPEAKER_00: The government issued the St.
• 0:35
  SPEAKER_00: Christopher and Nevis Citizenship Deprivation of Citizenship Order 2025 after determining these investors had failed to pay the statutory minimum investment required, despite claiming otherwise in their applications.
• 0:49
  SPEAKER_00: Of the 158 individuals the ministry contacted, 32 paid their outstanding investment balances and avoided penalties.
• 0:58
  SPEAKER_00: Thirteen investors admitted to non-payment, but took no corrective action, which led the government to revoke their citizenship.
• 1:06
  SPEAKER_00: One investor requested a commission of inquiry hearing, while the remainder are currently negotiating settlements.
• 1:13
  SPEAKER_00: The Citizenship by Investment Unit, referred to as CIU, has permanently blacklisted Latitude Consultancy and RIF trust.
• 1:22
  SPEAKER_00: According to the government statement, both firms marketed the program below statutory minimums and provided false assurances of special discounts to clients, violating program regulations.
• 1:33
  SPEAKER_00: Both entities are now prohibited from all CBI-related activities and cannot present themselves as agents or affiliates of the program.
• 1:42
  SPEAKER_00: IMI reached out to Latitude Consultancy and RIF Trust, who provided the following official statements.
• 1:49
  SPEAKER_00: Latitude Consultancy statement We note the recent announcement issued by the government of St.
• 1:55
  SPEAKER_00: Kitts and Nevis and its citizenship by investment unit concerning Latitude Consultancy.
• 2:01
  SPEAKER_00: We categorically deny the allegations made against our company.
• 2:06
  SPEAKER_00: Contrary to what the statement implies, we were not given a fair opportunity to formally respond.
• 2:11
  SPEAKER_00: The CIU had set a deadline of April 11th for our reply, yet they proceeded to issue their public accusation days in advance.
• 2:19
  SPEAKER_00: This signals a disregard for due process and raises serious concerns about the intent behind this announcement, especially given that our detailed response would have expanded the scope of the inquiry and exposed material inaccuracies and shortcomings in their investigation.
• 2:36
  SPEAKER_00: The decision to cut the process short calls into question both the credibility of the investigation and the motives behind rushing its conclusion.
• 2:45
  SPEAKER_00: We are actively preparing a robust legal and strategic response, and we remain fully prepared to cooperate with any credible independent inquiry, audit, or legal proceeding that seeks to establish the truth.
• 2:58
  SPEAKER_00: Our commitment to our clients, partners, and the integrity of the investment migration industry remains unshaken.
• 3:05
  SPEAKER_00: We will defend our name and the trust placed in us with the same dedication and professionalism that has built our global reputation.
• 3:14
  SPEAKER_00: We urge the public, media, and industry stakeholders to approach this matter with balance and fairness.
• 3:20
  SPEAKER_00: We will be providing further updates in due course, end quote.
• 3:25
  SPEAKER_00: Says Eric Major, CEO and Chairman.
• 3:29
  SPEAKER_00: RIF Trust's statement, quote, RIF Trust denies any wrongdoing, and we will vigorously defend our corporate integrity within the deadline of April 11th, specified by the CIU, end quote.
• 3:41
  SPEAKER_00: Mimoon Asrawi Group, CEO.
• 3:45
  SPEAKER_00: The government also terminated its investment agreement with MSR Media SKN Limited and MSR Hotels and Corporation Limited for multiple contractual breaches.
• 3:56
  SPEAKER_00: The statement cites failures to renovate tourism infrastructure, employ agreed numbers of local citizens, and deliver promised film productions.
• 4:05
  SPEAKER_00: The government claims that MSR companies launched a coordinated international campaign to discredit the CBI program and falsely accused officials of unethical practices.
• 4:17
  SPEAKER_00: These enforcement actions arrive amid growing international pressure on CBI programs.
• 4:23
  SPEAKER_00: The European Parliament's Committee on Civil Liberties, Justice, and Home Affairs voted 41 to 10 in March to advance amendments that could suspend visa-free access for countries operating such programs.
• 4:35
  SPEAKER_00: The St.
• 4:35
  SPEAKER_00: Kitts and Nevis measures also fulfill Prime Minister Terence Drew's December pledge that he was, quote, prepared to take the necessary statutory steps under the Citizenship Act to protect our Federation's good name and revoke citizenships obtained by fraud, end quote.
• 4:52
  SPEAKER_00: The government reaffirmed its zero-tolerance policy toward abuse of the CBI program and its commitment to ensuring only credible, compliant investors benefit from citizenship.
• 5:05
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
• 5:11
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry, and upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.