Michael Martin, CEO of the St. Kitts and Nevis Citizenship by Investment Unit (CIU), resigned during a stakeholder meeting today. He will leave the CIU on 30 September.
Martin’s departure comes less than two years after his appointment and amid significant changes to the nation’s Citizenship by Investment (CBI) program.
In early 2023, Martin oversaw the implementation of reforms that substantially increased CBI minimum investment thresholds, among other changes to the program.
The program faced legal challenges predating Martin’s tenure. In November 2023, Philippe Martinez, a government-appointed Public Benefactor, filed a Racketeer Influenced and Corrupt Organizations (RICO) lawsuit concerning various program stakeholders.
Calvin St. Juste, Chairman of the CIU Board of Governors, announced that the search for Martin’s replacement is in progress and that the government is already assessing applications. The administration indicated it aims to fill the position promptly to address the program’s challenges and maintain its credibility.
IMI has contacted Martin and will post an exclusive interview in October.
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