Basseterre, Saint Kitts, March 11, 2026 (PMO) – The Government of Saint Kitts and Nevis has welcomed the formal rescission of the long-standing advisory issued by the United States Financial Crimes Enforcement Network (FinCEN), describing the move as a major milestone in the Federation’s ongoing efforts to strengthen governance, transparency, and international confidence in its financial and citizenship frameworks.
The advisory, originally issued in May 2014, had warned financial institutions about potential abuse of the Federation’s Citizenship by Investment (CBI) Programme by certain individuals. The United States Financial Crimes Enforcement Network officially rescinded the advisory on February 24, 2026, following years of reforms and strengthened oversight mechanisms implemented by the Government of Saint Kitts and Nevis and the Citizenship by Investment Unit.
The lifting of the advisory reflects the extensive structural improvements made to the programme, including enhanced due diligence processes, the introduction of biometric verification, mandatory interviews for applicants, strengthened international compliance cooperation, and the transformation of the Citizenship by Investment Unit into an independent statutory body with a Board of Governors.
Speaking during his recent Roundtable engagement with members of the media, Prime Minister Dr. Terrance Drew, who also holds responsibility for Citizenship and Immigration, described the development as significant progress for the Federation.
“…The FinCEN and risk advisory has been lifted because of the significant work that we have done to strengthen our CBI transition, our CBI and to make sure that our CBI program is no longer questioned.”
Prime Minister Drew noted that the Government undertook decisive reforms upon assuming office in 2022 to address longstanding concerns about the integrity of the programme, and further emphasized that restoring the programme’s credibility required decisive policy changes aimed at protecting the value of the nation’s citizenship.
“Initially, when I started to clean up the CBI program, many questions were asked… because the days where a buyer met a seller and determined the price were over, that is what got our CBI into trouble. If that is what you’re going to call our citizenship, which is supposed to be sacred, and if that is how you are going to offer it to people, you are putting our reputation at risk. You are putting our passport at risk, and therefore that type of policy is no more.”
The Prime Minister explained that the removal of the advisory has important implications for the Federation’s financial sector and international investment climate.
“The FinCEN advisory, when it’s on, there are issues of banking, because there are some banks who may not want to do business in the jurisdiction because you have a FinCEN advisory, there are investors who would not invest because you have a FinCEN advisory.”
These developments, according to Prime Minister Drew, signal the country’s progress in rebuilding global confidence.
