Author: Steve Corbin, Senior Associate (Solicitor, England & Wales) (Attorney-At-Law, Grenada) at Harvey Law Group
In addition to wonderful weather and beautiful scenery, the Caribbean boasts a variety of jurisdictions operating Citizenship by Investment (CBI) programs, allowing applicants to obtain citizenship in exchange for a qualifying investment. Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia are among those that offer Citizenship by Investment programs.
Benefits of Citizenship by Investment in the Caribbean include visa-free travel to over 140 countries, the ability to live, work, and settle in CARICOM Single Market and Economy (CSME) member states, low living costs, low crime rates, tax-friendly policies, and the allowance for multiple citizenships. These CBI options also allow for a broad inclusion of dependents in applications, including parents, grandparents, adult children, and siblings of the main applicant and spouse. It is important to note however that depending on the program, there are some restrictions on applicants from certain countries, such as Russia, Belarus, Iran, and Afghanistan.
All programs allow for applicants to be sponsored by a third party subject to additional fees except for St Kitts and Nevis. There are also no residency requirements in any of these jurisdictions other than Antigua and Barbuda, detailed below.
Antigua & Barbuda
Antigua and Barbuda offers options such as a government donation starting at USD 100,000 for up to four family members or an investment in approved real estate starting at USD 200,000. Where there are 6 applicants or more there is a further option of USD 150,000 for 6 applicants. Notably, this program allows flexibility for applicants with minor criminal records. This program is one of the most cost-effective and flexible programs when it comes to including extended family members, allowing grandparents, grandchildren, married children, and siblings to apply as dependents, with the ability to also add a future spouse and children. Once granted citizenship, new citizens must visit Antigua and Barbuda for at least 5 days within the first 5 years to be able to renew their passports.
Dominica
Dominica offers a straightforward donation starting at USD 100,000 for individuals, USD 175,000 for a family of four, or an approved real estate investment starting at USD 200,000 plus government fees. The Secret Bay real-estate option has an excellent track record of providing excellent returns to investors and is one of the top-ranked resorts in the Caribbean. Dominica is known for its fast approval process but does not currently have visa-free access to the UK.
Grenada
Grenada’s CBI program stands out for its access to the USA E-2 Visa (subject to three years of residence in Grenada) and, despite a lengthier process, simplified electronic document submission requirements. Citizens of Grenada have visa-free access to China. Applicants can make a government donation of USD 150,000 for an individual or USD 200,000 for a family of four. Approved real estate is also an option, with a minimum investment of USD 220,000 alongside a payment of USD 50,000 government fees. Grenada also allows for parents and grandparents of any age, and siblings as dependents.
St Kitts & Nevis
As the longest-running program, St Kitts and Nevis offers a traditional donation starting at USD 250,000 or USD 350,000 for a family of four, as well as real estate investment routes starting at USD 400,000. This program is also the only program to allow for private homes to be purchased. St Kitts & Nevis also offers a unique Public Benefit Option for a flat donation sum of USD 250,000 regardless of the number of family members, making this option more cost-effective for multiple applicants than the donation option. Real estate must be held for at least 7 years and cannot generally be resold to new CBI applicants. St Kitts and Nevis also has no diplomatic ties with China.
St Lucia
St Lucia provides a low-cost donation option starting at USD 100,000 for an individual or USD 150,000 for a family of four. Although real estate is listed as an option this is not generally recommended due to the limited projects available. There is also a government bonds option at USD 300,000 to be held for 5 years, which is unique among Caribbean CBI programs and is very suitable for applicants wishing to ensure they can recover their capital outlay.
Summary
Caribbean Citizenship by Investment programs offer an attractive opportunity for obtaining alternate citizenship, providing greater freedom of movement, enhancing business opportunities, and ensuring a safety net for urgent relocations.
If you would like to discuss Caribbean Citizenship by Investment further or are interested in any of our other Residency or Citizenship by Investment programs, please contact Harvey Law Group at [email protected] and we would be pleased to assist.
