Saint Kitts and Nevis Sovereign Wealth and Resilience Fund Bill, 2026
Imagine a national emergency savings and investment account. Just like a family setting aside part of their income into a high-interest account that nobody can touch for everyday spending, this law creates a national fund to save money from major revenue sources like Citizenship by Investment and geothermal energy. The government can only pull money out during severe crises like major hurricanes, deep economic slumps, or for major public projects that make the country stronger against future shocks.
This law sets up the Saint Kitts and Nevis Sovereign Wealth and Resilience Fund. The fund stores and invests government money so the nation has financial protection during hard times and savings for future generations. It breaks the money into specific sub-funds, including:
- A General Investment Sub-Fund for long-term growth.
- A Natural Disaster Sub-Fund for quick emergency recovery.
- A Resilience Sub-Fund for economic stability.
- An Essential National Infrastructure Sub-Fund for critical building projects.
The Fund gets money from several public sources, including:
- Up to 25% of profits from the Citizenship by Investment Unit.
- Up to 25% of Sustainable Island State Contributions collected by the Citizenship Unit.
- Up to 25% of profits from the Geothermal Energy Authority.
- Grants, donations, and money set aside by Parliament.
- Profits earned from the Fund's own investments.
Money cannot be spent freely. The law sets strict limits on withdrawals:
- For natural disasters: Withdrawals require a declared emergency and damage assessment, capped at 30% of the Fund's balance or the assessed loss (whichever is lower).
- For economic shocks: Withdrawals can occur if the economy shrinks by at least 3% or government revenue drops by at least 15%, subject to strict caps.
- For major infrastructure: Withdrawals are limited to 5% of the Fund balance or recent investment earnings, so the core savings are not wiped out.
- No collateral: Fund assets cannot be used as collateral for loans or given as credit to private entities or the government.
- A 7-member Board of Directors oversees the Fund, with members appointed by leaders across government, opposition, and business sectors.
- Professional, independent investment managers handle day-to-day investments following international standards (the Santiago Principles).
- The Board must publish investment information on a public website and keep accounts open for public inspection.
The law establishes strict penalties for breaking confidentiality and ethics rules:
- Leaking confidential Fund information: A fine up to $25,000, up to 2 years in prison, or both.
- Using insider information for personal financial gain: A fine up to twice the financial gain, up to 5 years in prison, or both.
- Refusing to cooperate with official audits: A fine up to $50,000, up to 3 years in prison, or both.
Ask a question below, or try one of the suggestions.