News

Nevis Eyes “Alternative” Investments

By: Caribbean Journal Staff - February 13, 2014

Above: Nevis (CJ Photo)

By the Caribbean Journal staff

While real estate and tourism are helping lead an economic rebound in St Kitts and Nevis, the latter’s government says it is looking to diversify investments on the island.

The Nevis Island Administration is looking to court investment “other than through the tourism or the real estate,” Nevis Premier Vance Amory said this week.

One potential avenue of investment could be government bonds, Amory said.

“The government itself, we are dealing with persons who we feel may want to invest in additional Government Bonds but we are going to put a twist on this,” he said. “If somebody invests in the Government Bonds and we use those bonds for infrastructural development, we will apply to the Federal Government for those persons, who make the level of investment, for them to be considered under the Citizen by Investment (CBI) [programme].”

Amory said there were already plans underway for talks with potential bond purchasers.

“If they qualify [for Citizenship By Investment], they can have it and this will fulfil what the International Monetary Fund is saying so more investment and more plans and capital projects under the CBI and we are looking towards that and I think things will go very well,” the Premier said.

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