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
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.
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.