There is an island in the Caribbean that is perfect for your needs. However, choosing the best island to buy real estate requires a thorough understanding of the markets. Find out more about why you should invest in the Caribbean, what are the benefits of investing, and what are the best Caribbean islands to invest in in 2024

In recent years, the Caribbean islands have become an increasingly popular investment destination. After all, in addition to the high profit that business or real estate owners can get, there is a special program for obtaining citizenship in the region, if you invest the appropriate amount of money in the country's economy.

In which Caribbean islands to invest money in 2024? We will talk about the best countries below.

Why Invest in the Caribbean Islands in 2024?

  In the past, the Caribbean attracted investors with white sandy beaches, turquoise water, year-round sunshine and a high standard of living. However, in recent years, amid acute political instability, economic insecurity and health concerns, people are increasingly looking for peace, stability and security. All this can be offered by the Caribbean islands.

Advantages of investing in the economy of the Caribbean countries

● Tourist potential and natural beauty of the Caribbean region

  Caribbean countries attract investors with stunning natural landscapes, pristine beaches, crystal clear water, hospitable local population, delicious cuisine, numerous attractions and entertainment.

● Tax benefits

Many countries in the region offer tax benefits to investors, including no tax on foreign income and no inheritance or capital gains tax.

Property taxes in the Caribbean are generally relatively low.

● Citizenship by investment

Five Caribbean countries allow investors to obtain citizenship by investing an appropriate amount of money into the country's economy: Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia. This arrangement allows foreign investors and their families to obtain Caribbean passports that provide visa-free travel to more than 140 countries around the world, as well as enhanced business opportunities and a safe haven for families.

● A wide selection of investment methods

In the Caribbean, an investor can invest in various types of real estate, from luxury villas and waterfront properties to commercial real estate, as well as agriculture and renewable energy projects. This wide selection allows investors to choose investments that meet their financial goals and preferences.

● Political stability and a reliable legal framework

Many Caribbean countries have stable political environments and well-established legal systems that protect property rights and investments. In addition, the Eastern Caribbean dollar is the currency used by all members of the Organization of Eastern Caribbean States.

● High quality of life

The favorable climate, relaxed lifestyle and vibrant culture make it an attractive place to live. Expats also note the ideal balance between work and personal life here.

The best Caribbean islands to invest in 2024

Saint Lucia

● The minimum investment amount for obtaining citizenship: $400,000 (in a state facility) or $800,000 (in a private one).

● Rental income: 5% per year.

● Average cost of 1 m²: $3,500.

For buyers looking to truly get away from it all and enjoy some peace and quiet, it's hard to beat St Lucia's quiet south. As in most Caribbean countries, the country's economy is completely dependent on tourism. which is about 65% of GDP.

Residents are entitled to the Saint Lucia National Health Scheme.

The cost of living is relatively affordable: one person spends an average of $400 per month (not including rent).

The only drawback is that after buying real estate, the investor must pay a state tax in the amount of $30,000, which is not refundable.

St. Kitts and Nevis

● Minimum investment amount for obtaining citizenship: $200,000.

● Profit from real estate rental: 3-5% per year.

● Average cost of 1 m²: $1,900.

St. Kitts and Nevis has beautiful beaches, a tropical climate and picturesque mountains. With its thriving tourism industry, St. Kitts and Nevis continues to be a popular destination for investors, tourists, retirees and more.

The citizenship-by-investment program in St. Kitts and Nevis was launched in 1984 and was the first in the world.

Advantages of living in St. Kitts and Nevis

- Medical care in the country is free for persons under the age of 18 and over 62.

- St. Kitts and Nevis graduates are eligible for scholarships from UK universities.

- Favorable tax policy with no income, capital gains, gift, estate or inheritance taxes.

- Good international tourist connections.

Antigua and Barbuda

● Minimum investment amount for obtaining citizenship: $200,000.

● Income from real estate rental: 4% per year.

● Average cost of 1 m²: $5,600.

First of all, buying real estate in Antigua and Barbuda is a path to citizenship. You can also rent out housing and make a considerable profit. After 5 years after obtaining citizenship, the object can be sold.

Socially, the country is developing rapidly: there is free education for children up to 16 years of age, the level of development of the health care system meets international standards, and the medical assistance program is available to legal residents of the country.

The cost of living in Antigua and Barbuda is much lower than in the United States and Great Britain - the estimated monthly expenses for a family of four are $4,100 without rent.

Grenada

● Minimum investment amount to obtain citizenship: $220,000.

● Income from real estate rental: 4.3% per year.

● Average cost of 1 m²: $2,000.

Grenada is known for its spice exports and tourism industry thanks to its approved digital nomad visa and citizenship by investment program.

Also, considering that Grenada is considered one of the safest countries in the Caribbean, it is recognized as the best place to move with the family.

Another interesting advantage is that Grenada does not oblige the investor to visit the state in order to obtain citizenship. The procedure can be completed remotely. That is, you choose housing online, and a special agent helps in its purchase.

Advantages of living in Grenada:

- Grenada's healthcare system is considered one of the best in the Caribbean and boasts five public hospitals and four private hospitals.

- The Caribbean island offers a relatively affordable cost of living.

- A powerful series of projects in the field of real estate is being developed, which can provide additional opportunities for investment in real estate.

Dominica

● Minimum investment amount for obtaining citizenship: $200,000.

● Profit from real estate rental: 4-5% per year.

● Average cost of 1 m²: $3,000.

Dominica is a great island to buy rental or investment property in the Caribbean. In fact, it is considered by many to be the best island to buy real estate due to its low cost of living and high quality.

One of the main advantages of the country is its wonderful nature and breathtaking view of the sea.

The education system of the country is represented by 60 schools, both public and private. Citizens of the country often obtain higher education in Great Britain (as part of an agreement between the Commonwealth countries).

The cost of living is moderate - one person spends an average of $1,000 per month here, excluding wages.

Taxes and fees when buying real estate in the Caribbean

When buying real estate in the Caribbean, you may encounter the following taxes and fees:

- Property taxes can range from 0.002% to 5%, depending on the Caribbean country.

- Stamp duty: this tax can range from 1-4%.

- License to own the land of a foreigner: the cost of obtaining an ALH can vary from 5 to 10% of the property value.

The best Caribbean islands to buy real estate will depend on your individual needs. The cheapest Caribbean islands for real estate investment are St. Vincent and the Grenadines and the Dominican Republic. The best islands to obtain citizenship through your Caribbean real estate investment are Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia.

The best places to find luxury real estate include the Bahamas, the US Virgin Islands and the British Virgin Islands.

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Igor Usyk - Head of Migration department at VisitWorld

To ensure a safe move to a new country, I advise you to consult a specialist. My colleagues, qualified specialists with a legal education, will help you avoid unpleasant situations during migration.

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Products from Visit World for a comfortable trip:

Travel guide for 200 countries;

Legal advice from a local specialist on visa and migration issues;

Travel insurance around the world (please select the country of interest and citizenship to receive services);

Medical insurance all over the world.

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