Citizens anxious about promise to pay CBI dividends

UPDATED

Basseterre, Friday, 9th December, 2022, (My Vue News. Com)-Details have now been provided to outline the process for the payment of the special ” dividend” to citizens, from the Citizenship by Investment (CBI).

“The Government of St. Kitts and Nevis has approved the payment of a Citizenship by Investment (CBI) dividend to the citizens and residents of the Federation,” said a recent release from the administration. 

This comes as part of an election campaign promise that was made by the then Labour Party while seeking to attract voters on their side.

The government in its latest statement explained that “The CBI dividend is a share of the profits and retained earnings received from the Citizenship by Investment Programme.” 

The CBI dividend will be facilitated through the Saint Christopher and Nevis Social Security and will be distributed in two tiers or categories, they added.

The first category is the pensionable and pensioners and the second category is classified as those who are not yet pensionable. 

Editor’s Note: See below, the full press release issued by the government, explaining the process:

CONTRIBUTORS TO SOCIAL SECURITY TO RECEIVE CBI DIVIDEND

BASSETERRE ST. KITTS, 9TH DECEMBER 2022 —Prime Minister and Minister of Social Security, Hon Dr Terrance Drew has announced an inaugural payment of a CBI Dividend to contributors* to the Social Security Fund to include Pensioners and Pensionable citizens and residents of the Federation of St Kitts and Nevis.

The payment will be facilitated by the Social Security Board with the first batch of payments being made by Thursday December 15th, 2022.

This first group covers:

  • both Social Security and Government Pensioners
  • Private and Public Corporations with whom Social Security has verified banking information

This grouping will not have to apply for the dividend as their information has been provided by their respective employers or is already verified by Social Security.

Subsequent batches will be paid accordingly.

Applicants may now apply for the dividend online at www.socialsecurity.kn.   Note well that submission of the form must include a valid social security card and proof of accurate banking details.  In person registration may be completed at the Social Security offices in Basseterre and Pinney’s Estate.

Persons are encouraged to have a valid passport or birth certificate where a social security card is unavailable.

For more information contact the Social Security Board at 869 465 2535 or 869 469 5245 or ask questions via Whatsapp at 869 662 8479 or 869 667 2535.

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