The Government of St. Kitts and Nevis (GOSKN) has taken a historic step to establish a Sovereign Wealth Fund (SWF), backed by legislation scheduled for parliamentary debate and approval within the first quarter of 2025, towards long-term economic stability and prosperity of the nation. If this legislation is approved, St.Kitts and Nevis will be the first country in the World to establish Sovereign wealth fund, backed by Citizenship by investment revenues backed by good governance and transparency securing the nation’s financial future.
The SWF will serve as a financial reservoir, accumulating excess revenues from various sectors, including the Citizenship by Investment (CBI) program and anticipated profits from the burgeoning geothermal energy industry.
By channeling these funds into the SWF, the government seeks to create a sustainable financial buffer that will support national development projects, social programs, and economic diversification efforts.
In 2022, The economy of Saint Kitts and Nevis had grown to an estimated GDP of reaching almost $1 billion dollars. According to IMF, the Citizenship by Investment (CBI) revenues accounted for 22% of GDP in St. Kitts and Nevis, in 2023. The SKN Government has brought sweeping reforms to the CBI program in 2024 and 2025, making it more appealing to international investors and stakeholders.
“The establishment of the Sovereign Wealth Fund is a critical step in safeguarding our nation’s financial future. It will provide a structured and transparent mechanism for managing our resources, ensuring that both current and future generations benefit from our country’s wealth.”, said Prime Minister Drew.
The legislative framework for the SWF has been meticulously crafted in collaboration with international financial experts, including the International Monetary Fund (IMF).
“This partnership ensures that the fund adheres to global best practices in governance, transparency, and accountability.”
Once operational, the SWF will be managed by an independent Board of Trustees, comprising professionals with expertise in finance, economics, and law. Regular audits and public reports will be conducted to maintain transparency and public trust in the fund’s operations.
The successful implementation of the Sovereign Wealth Fund is anticipated to fortify St. Kitts and Nevis’s economic resilience, providing a stable foundation for sustained growth and development in the years to come.
There are about 55 countries in the World have sovereign wealth funds with global assets valued $10 trillion+ in their national reserves, the biggest being China and UAE. In February 2025, President Donald Trump signed an executive order to establish a national sovereign wealth fund for United States..
