KUALA LUMPUR, Nov 15 (Bernama) -- The government of St Kitts and Nevis announced it does not accept cryptocurrency as a form of payment for its citizenship by investment programme.
According to a statement, underpinned by a robust multi-layered due diligence process undertaken by international security firms from the USA and the UK, investors need to go through a formal application process consisting of eight main steps.
The steps include pre-approval by a verified St Kitts and Nevis government agent and preparation of the application; submission of the citizenship application; and application processing by the Citizenship by Investment Unit and internal and external due diligence checks.
Throughout the whole process, an investor will engage with an approved government agent who will facilitate the application and any payments will be made via registered banks using fiat money – a government-issued currency that is not backed by a commodity such as gold.
An example would be the United States Dollar, Euro or Chinese Yuan.
Having been established in 1984, the St Kitts and Nevis citizenship by investment programme is the oldest in the world.
-- BERNAMA
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