The ‘Citizenship By Investment’ program is high in demand for individuals looking to enrich their investment portfolio with a second passport as it provides greater travel freedom and mobility.
The Caribbean countries offer great benefits for investors, and currently, there are a lot more options as many more of them have joined the program in the last couple of years. Dominica joined the program in 1993 and is one of the oldest programs in the Caribbean, while St. Kitts offered the program in 1984.
A CBI program is often thought of as a “win-win” situation, both for the investors and the countries where the investment is made into the economy. Many of the Caribbean island nations improved their economy and financial statuses, which imposed rapid growth of private wealth and increased global mobility.
The citizenship by investment program allows high net-worth people to acquire passports legitimately in a second country and enjoy its benefits. In this article, we will talk about the Caribbean island countries that offer the CBI program, what are the requirements and advantages, and look into the application process. This is perfect for very successful digital nomads that want to have options on where to live or how to deal with their taxes.
St. Kitts and Nevis
St. Kitts and Nevis is one of the oldest CBI programs in the Caribbean region, which requires:
- an investment of $195K in real estate for a family of up to four members or $150K as an individual;
- a $150K one-time contribution to the government if you are applying as an individual, which is nonrefundable, or $195K for a family up to four;
The investor is not required to reside in the country to get the passport, nor a visit during the application processing time. There is an option to fast-track the application process in 60 days for an additional fee.
The issued passport is valid for 10 years and you can travel to 154 countries visa-free. If you are considering relocating to the marvelous St. Kitts and Nevis, or any other Caribbean country, you can check out the citizenship by investment programs NTL offers.
Antigua and Barbuda
Antigua and Barbuda’s citizenship by investment program have no residence requirements when applying for a second passport if you are applying as a first-time investor, or a 5-day stay within a 5-years period if you are renewing the passport.
Additionally, the investor is not required to visit the country to obtain a passport. One of the key benefits is the short processing time which usually takes around 4 months. If you’ve renewed the passport for the first time, you can have it for another 10 years.
Eligible criteria for becoming a citizen:
- $100K to the National Development Fund
- $200K investing in real estate
- $150K one-time donation to the University of West Indies Fund;
- Business investment of $1.5 million;
Grenada
Grenada’s citizenship by investment program comes with extensive benefits. It’s one of the best programs in the Caribbean and has a couple of requirements that need to be fulfilled to obtain the passport:
- $150K to the NTF – National Transformation Fund – this is a one-time, non-refundable option;
- Investment of $220K in 5-star resorts as refundable buyback shares;
Grenada’s passport offers a particular advantage compared to the other countries in the Caribbean region – the passport is the only one with a visa-free waiver for Russia and China and the only one with an option to apply for an E-2 visa for the US.
Dominica
Dominica has one of the most popular CBI programs in the Caribbean. The country also offered a discount for family prices due to the Covid-19 restrictions, making it more accessible for family members. The requirements for obtaining the passport include:
- $200K in real estate which will be held for 3 years;
- $100K one-time non-refundable EDF donation;
With the Dominican passport, you can visit 139 countries visa-free and enjoy the benefits of being a citizen.
St. Lucia
St. Lucia is another Caribbean country that has the CBI program. As of 2020, the country changed the regulations to make the program more accessible and simpler. Those changes included a shorter processing time of up to 56 days, adding qualifying dependents who will be granted citizenship, and E-payment options for cutting payment delays.
The requirements for becoming a citizen in St. Lucia are:
- $100K non-refundable donation to the government;
- $300K investment in real estate or shared property like a hotel or a resort;
- A business investment worth $3.5 million;
The St. Lucian passport is valid for 5 years after obtaining it, and you can travel to 145 countries visa-free.
Take The First Step!
At the end of this article, you might still have some questions unanswered. After you’ve done your research properly, it’s time to take the first step and apply for a CBI program.
For more information regarding similar content and insights, you can check out the rest of the articles on our blog.
