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How can I purchase an old house and renovate it for the purpose of St. Kitts and Nevis’ CBI application?

My friend has a house built in the ’90s in Basseterre. He has a family emergency and has to liquidate his assets as soon as possible. I would like to help him by purchasing his house. I also want to use this investment to apply for citizenship of St. Kitts and Nevis. However, the market price for it is $300,000, which is lower than the required amount for the country’s CBI program. If I spend another $100,000 to renovate the house, will I be eligible for this program?


Answers
  • March 15, 2019

    The problem is that not every property qualifies for citizenship. Based on what you are saying that it is listed on the market for $300,000, I highly doubt that the property is an approved citizenship-by-investment property and qualifies under the program.

  • Constance V. Mitcham

    Mitcham & Benjamin
    March 14, 2019

    Only property approved by government, for that purpose, can be used to acquire citizenship. The purchased property must also have a value of $400,000 or more.