Obtaining citizenship through investment programs provides a privilege - alternative citizenship and the opportunity to settle in another country. Learn about Caribbean Citizenship by Investment, which Caribbean countries offer citizenship by investment in 2024 and what are their advantages

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.

Currently, only 5 countries of the region provide citizenship by investment. However, even though the programs are very similar, they still have some differences.

Our guide will help you understand all the intricacies of obtaining citizenship by investment in the countries of the Caribbean.

Caribbean Citizenship by Investment: What is the Program?

Citizenship by Investment is a government program under which foreigners and their family members can obtain citizenship of one of the Caribbean countries if they contribute to the economy of the state in a manner approved by the management. In general, a Caribbean passport is a document that facilitates crossing borders and opening bank accounts at international financial institutions.

Which Caribbean countries are offering citizenship by investment in 2024?

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.

Benefits of Caribbean citizenship by investment

- Caribbean countries have a favorable tax system - there is no taxation of international income, as well as taxes on wealth, inheritance, gifts and capital gains.

- There are almost no requirements for a place of residence: an expat does not need to move to the country.

- Attractive investment opportunities in the vibrant tourism sector.

- Ideal nature and climate.

- Access to global mobility.

- Freedom – You will experience additional freedom with a second citizenship and multiple passports.

- A variety of investment options – an expat can choose the investment option that suits them best in order to qualify for Caribbean citizenship by investment.

- Real estate ownership is a stable asset that you can leave to future generations and use to create a strong bond with your new country.

- Ability to withdraw your money after some time - as a property owner, you will be able to resell your property after a certain period of time.

- Multiple Nationalities - Enjoy the best benefits from both countries with more than one citizenship and passport.

- Strong legal asset protection through trusts.

Which Caribbean country's citizenship program should an investor choose in 2024?

St. Kitts and Nevis has the oldest citizenship-by-investment program

● Investment cost: $250,000.

● Amount of investment for moving a family of 4: $350,000.

● Family members with whom the investor can move: spouse, children and dependent parents.

● Time to obtain citizenship: 4 months.

● Visa-free countries: more than 140 countries, including the EU, Great Britain, Singapore, Hong Kong and China.

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

Ways of investing: contribution to the Sustainable Development Fund or investment in real estate.

Benefits of citizenship of St. Kitts and Nevis:

- A rapidly developing economy.

- 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.

- No tax on international profits to reduce the tax liability.

- High-quality offshore banking and a complex of insurance services.

- Guarantee of financial confidentiality for offshore business.

Restrictions: Saint Kitts and Nevis will not accept your application if you are a citizen of one of the following countries: Afghanistan, Belarus, Iran, Iraq, North Korea and Russia.

Antigua and Barbuda is the best offer for a family move

● Investment cost: $100,000.

● Amount of investment for moving a family of 4: $100,000.

● Family members with whom the investor can move: husband/wife, children, parents, grandparents, brothers and sisters.

● Time to obtain citizenship: 3-4 months.

● Visa-free countries: more than 140 countries, including the EU, Great Britain, Hong Kong and Singapore.

Antigua and Barbuda offers the best way to obtain Caribbean citizenship by investment for large families, as the main applicant with a financially dependent spouse and two children must donate at least $100,000, which is $25,000 for each family member.

Large families (with six or more members) can obtain citizenship by donating $150,000 to the University of the West Indies Foundation, which also entitles one family member to a one-year tuition-only scholarship to the University of the West Indies.

Ways to invest: contribution to the National Development Fund, purchase of real estate, start-up of a business, contribution to the University of the West Indies (UWI) Foundation.

Advantages of citizenship of Antigua and Barbuda:

- Visa-free travel to over 140 countries, including Great Britain and the European Union.

- The procedure for obtaining citizenship takes about 90 days.

- Stable political system in the state.

- Dual citizenship is recognized.

- Favorable climatic conditions for life.

- Free education for children up to 16 years old.

- The level of development of the health care system meets international standards - the medical care program is available to legal residents of the country.

Restrictions: Antigua and Barbuda does not consider applications from citizens of Russia. Also, the applicant cannot have any economic ties with the following countries: Afghanistan, Iran, North Korea, Somalia, Sudan and Yemen.

Dominica is a country that has been recognized as the best place to invest four times

● Investment cost: $100,000.

● Amount of investment for moving a family of 4: $175,000.

● Family members with whom the investor can move: husband/wife, children, parents, grandparents.

● Time to obtain citizenship: 2-3 months.

● Visa-free countries: more than 140 countries, including the EU, Singapore, Hong Kong and China.

For the fourth year in a row, Dominica's Citizenship by Investment program ranks first in the SVI Index rating, the most prestigious study of the attractiveness of citizenship by investment programs in the world. What makes the Dominica citizenship program so attractive?

Ways of investing: contribution to the Economic Diversification Fund (EDF) and purchase of real estate.

Benefits of Dominica citizenship:

- The minimum donation to obtain a passport is $100,000 to the Dominica Economic Diversification Fund.

- The value of real estate for citizenship registration must be $200,000 or more.

- No residency requirements.

- The whole family can apply.

- 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.

Restrictions: If you are from North Korea or Sudan, you cannot have lived there for the previous 10 years, run a business or have assets in both countries. Dominica does not accept applications if you are a citizen of Belarus, Northern Iraq, Russia and Yemen.

Grenada is a path to simplified entry into the USA

● Investment cost: $150,000.

● Amount of investment for moving a family of 4: $200,000.

● Family members with whom the investor can move: husband/wife, children, parents, grandparents, brothers and sisters.

● Time to obtain citizenship: 3-4 months.

● Visa-free countries: more than 140 countries, including the EU, Great Britain, Hong Kong, China and Singapore.

Obtaining Grenadian citizenship will be the first step to moving to the United States. In fact, Grenada is the only country in the Caribbean region that has a citizenship by investment program and an E-2 visa treaty with the United States. This means that if you have a Grenadian passport, you can apply for a non-immigrant visa in the US and move there with your family.

Methods of investment: donation to the National Transformation Fund (NTF), purchase of real estate.

Benefits of Grenada citizenship:

- The prospect of moving to the USA.

- Visa-free entry to China.

- Moving with the family.

- Grenada does not require an investor to visit the country to obtain citizenship. The procedure can be completed remotely.

- 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.

Restrictions: Grenada does not accept applications from citizens of Belarus, Iran, North Korea and Russia.

Saint Lucia offers a wide range of investment options

● Investment cost: $100,000.

● Amount of investments for moving a family of 4 people: $150,000.

● Family members with whom the investor can move: spouse, children, dependent parents, brothers and sisters.

● Time to obtain citizenship: 3-4 months.

● Visa-free countries: more than 140 countries, including the EU, Great Britain, Hong Kong and Singapore.

The Saint Lucia Citizenship by Investment program has a competitive advantage over other Caribbean countries due to a wide range of investment options.

Ways of investing: investments in the National Economic Fund (NEF), national bonds (NAB), real estate, corporate project financing.

Benefits of Saint Lucia citizenship:

- Real estate investment of at least $200,000 in a government-approved real estate project. The property must be owned for at least five years, then it can be sold without losing citizenship.

- Participation in a corporate project approved by the country's government with a minimum contribution of 1 million dollars (a project worth at least 6 million dollars).

- Donation of $100,000 to the National Economic Fund.

- Purchase of government bonds worth at least $300,000, which must be held for at least 5 years.

- Residents have the right to use the Saint Lucia National Health Care Scheme.

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

Restrictions: Saint Lucia does not consider applications from citizens of Belarus, Iran and Russia.

There are many similarities between the various Caribbean citizenship by investment programs, but there are also subtle differences. In particular, if you are planning to move with a large family - pay attention to the offer of Antigua and Barbuda, expats who consider the prospects of moving to the USA usually choose the program of Grenada, etc.

In general, Dominica offers the best citizenship program among the Caribbean countries in terms of low investment threshold, terms of obtaining a passport and high international reputation.

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Ihor Usyk is the head of VisitWorld's migration department

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

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