Belgian crypto billionaire wants to set up libertarian community in the Caribbean

Belgian-born crypto billionaire Olivier Janssens is planning to establish a libertarian community with its own legal system in Saint Kitts and Nevis, the Financial Times reported on Monday.

Janssens, who holds Belgian and Nevisian citizenship, obtained the citizenship of the Caribbean island nation through an investment programme. Through his company, South Nevis, he is now purchasing land on the island of Nevis for a project named “Destiny”, reported the Financial Times.

According to the Nevis government, the plan involves investments totalling several billion dollars on the south coast of the 93-square-kilometre island, which has a population of 13,200. It is the first large-scale development project under a law passed in Saint Kitts and Nevis last summer.

Separate legal system

Destiny will include villas, hospitals, green spaces and swimming pools. The US architecture and engineering firm Skidmore, Owings & Merrill, known for projects such as the Burj Khalifa, is the designer.

Janssens is currently negotiating with the government regarding the project. If it goes ahead, he has promised to invest 50 million dollars in Nevisian infrastructure.

Janssens also wants to introduce his own legal system, a move that has caused concern among some local residents. The new law states that developers of large projects can set up their own "dispute resolution services and mechanisms".

'Host nation'

At the end of November, Janssens gave a presentation to local residents via video link. According to the Financial Times, he criticised the Nevis court system for being inefficient. "And if we’re just going to copy that, it’s not attractive to people to come,” he said. 

The Belgian-born billionaire also said that he does not trust politicians and referred to Nevis as a “host nation” for his libertarian community. Notably, the real estate agent assisting Janssens with his land purchases is Sharon Brantley, wife of Nevis's prime minister, Mark Brantley.

^{The island of Nevis, which is part of Saint Kitts and Nevis © PHOTO IMAGEBROKER}