Summit ensures sustainability of Caribbean CIPs

Glen Bart,

CEO Les Khan

Basseterre, St. Kitts, 19th May, 2018 ( – Forums like the Caribbean Investment Summit 2018, held in St. Kitts, 16th to 19th May, provide a platform for learning on the issues impacting the region’s Citizenship by Investment Programs, said Les Khan, the chairman of the Citizenship by Investment Programs Association (CIPA).

Khan, who also is the Chief Executive Officer of the St. Kitts and Nevis Citizenship by Investment Unit (CIU), was speaking  to on the relevance of such forums to the viability of Citizenship by Investment Programs in the Caribbean.

Ultimately, it is about longterm sustainability of the various programs, he indicated.

Khan said, “All of our conversations and panel discussions are about the common issues that we face. Through this summit, and summits like this, we become educated. We become knowledgeable, and our Heads and people who are in the profession are able to make better judgements, better calls on the type of clients that we bring in, and the processes that we have to ensure that due diligence and the credibility of our programs are maintained.”

The challenges that face CIPs, as an industry, was reflected in the summit’s theme: Unity in the Age of Division: Emerging Trends of CIPs in an Uncertain World.

According to CEO Khan, it is important that the learnings from the Summit are translated into actions that help and strengthen the region’s CIPs.

“The outcome of some of this (summit) is an action plan by CIPA, for which I am chairman, to take certain initiatives and try to ensure that we have some harmonisation, some standardisation, that we talk about – the difficult issues about making decisions on applications, and that we ensure that we share information wherever possible,” Khan said.

Continuing, he explained, “When we sit around the table and talk about our action plans going forward, it is about taking the learnings from this forum about residency, citizenship, timelines in due diligence, timelines in processing, what are the best standards, documentation, etc., and applying the learnings to our programs.”

Even the reality of cryptocurrency is something that must be understood.

Khan said, “We need to be education about such things. They keep coming up. At this point in time, we don’t really have all the answers, but through these forums, we bring the right people to the table, and it adds to the knowledge base, as we go step by step.”

The two-day Caribbean Investment Summit included numerous topics, from the matter of The Caribbean Model of Unity, Collaboration for a Common Cause and Hurricane-proof Banking, to topics such as New Technologies for Better CIPs, The Future of Cryptocurrencies and Tax Residency Programs.

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