EXPLORING CARIBBEAN CITIZENSHIP BY INVESTMENT PROGRAMS

Five Caribbean countries offer Caribbean citizenship by investment programs providing individuals and families with a pathway to obtaining a second citizenship.

This article will look at all 5 Caribbean citizenship by investment programs: Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis and St. Lucia. We will explore the investment options available, the associated costs, the main requirements, and the processing times. We will highlight the advantages of each country’s programme.

CARIBBEAN CITIZENSHIP BY INVESTMENT: A PATH TO SECOND PASSPORTS

1. Antigua and Barbuda: Multiple citizenships, 150+ visa-free countries, investment options starting at $ 100,000.

2. Dominica:140+ visa-free countries, no capital gains tax, investment options starting at $ 100,000.

3. Grenada:E2 Visa eligibility, 140+ visa-free countries, investment options starting at $ 150,000.

4. Kitts and Nevis:150+ visa-free countries, investment options starting at $ 125,000.

5. Lucia: Significant tax incentives, 140+ visa-free countries, donation options from $ 100,000.

OBTAINING AN ANTIGUA AND BARBUDA PASSPORT

The Antigua and Barbuda offers citizenship for life and permits multiple citizenships. Successful applicants of the program can gain an Antigua and Barbuda passport which provides visa-free or visa-on-arrival access to over 150 countries, including the Schengen Area. With an Antigua and Barbuda passport, the applicant can also live and work anywhere in the CARICOM region. Antigua and Barbuda is an attractive location that provides access to a stable economy and highly favorable tax environment with zero personal taxes.    

 The program covers a spouse, children up to age 30, parents over age 55, and unmarried siblings of any age.  The processing time is typically 3 to 6 months.

There are two main investment routes to obtaining citizenship and an Antigua and Barbuda passport: donation and real estate. 

DONATION OPTION

The first donation option can be a financial contribution to the National Development Fund of USD 100,000 (for a family of up to 4 – applicant, spouse and two children).  For families of 5 or more, the minimum financial contribution amounts to USD 125,000.   

The second donation option available for international investors would be donating to the University of the West Indies Development Fund. The minimum donation amount starts at USD 150,000 for a family of up to 6 people, with an additional USD 15,000 for each additional dependent.

REAL ESTATE INVESTMENT

For the real estate investment route, the minimum investment is USD 200,000 in a government-approved project which must be retained for at least 5-years.

As with most Caribbean citizenship by investment programs, the applicant must have a clean criminal record, have good health, and be able to prove that the source of their funds is legitimate.  Other limitations are lenient and there are no residency, language, education, or work experience requirements for citizenship and an Antigua and Barbuda passport.  

OBTAINING A DOMINICA PASSPORT

A Dominica passport gives access visa-free or visa-on-arrival access to over 140 countries.  The country also offers holders of a Dominica passport an advantageous tax regime with no capital gains or inheritance tax. In addition to dual citizenship, successful applicants and their future generations are also granted Dominican citizenship for life.

The process to gain the Commonwealth of Dominica citizenship and a Dominica passport is similar to Antigua & Barbuda.  The Dominica Citizenship by Investment program has both a donation option and real estate option.

DONATION OPTION

The donation option requires a financial contribution to the Economic Diversification Fund of at least USD 100,000 (for a single applicant). For a family of 4, the donation costs will be USD 150,000.  Any further dependents under the age of 18 are an additional USD 25,000 each and USD 50,000 each if they are over 18.     

REAL ESTATE OPTION

The real estate option covers all immediate family. With the real estate investment, the minimum contribution is USD 200,000 in approved government projects which must be retained for at least 3 years. Additional fees for due diligence, application, processing, and other government fees may apply.   

Again, as with other Caribbean citizenship by investment programs, applicants should have no significant criminal record, but there are no language, education, or work restrictions and there is no residency requirement. 

The processing time is around 4 to 8 months and the application must be submitted through a government-authorized immigration lawyer or immigration firm.  

OBTAINING A GRENADA PASSPORT

The Grenada passport grants access to over 140 countries and holders will have tax advantages.  Most uniquely, however, is that among the Caribbean citizenship by investment programs, only successful applicants of the Grenada passport can be eligible to apply for an E2 Visa to live and work in the United States, as Grenada has an E2 Visa treaty with the US.  

Grenadian citizenship and the Grenada passport can be obtained either by donation or by investing in real estate.

DONATION OPTION

For the donation option, the minimum financial donation is USD 150,000 to the National Transformation Fund for a single applicant. For a family of 4, the minimum financial donation is USD 200,000, and then USD 25,000 for each additional dependent.  

REAL ESTATE Option

Qualification by real estate investment option means purchasing approved real estate valued at USD 350,000 or more and holding it for a minimum of 5 years. Investors can also qualify by buying a share in authorized real estate with a minimum value of USD 220,000 and holding it for at least 5 years. Additional government fees may apply for due diligence, processing, and the like. 

Processing time is 4 to 8 months, and the requirements are very similar to the other Caribbean citizenship by investment programs. 

OBTAINING A ST. KITTS PASSPORT

The St. Kitts passport grants visa-free access to over 150 countries and offers certain tax advantages.  Requirements are similar to the previously discussed Caribbean citizenship by investment programs and there are no residency requirements. 

To be eligible for St. Kitts and Nevis’ citizenship, there are also donation and real estate options. 

DONATION OPTION

Obtaining the St. Kitts passport through the donation option requires a minimum financial contribution of USD 125,000 for a single applicant. For a family of 4 (the applicant with up to three dependents), a minimum financial contribution is USD 170,000 and an additional USD 10,000 for each dependent under 18. For dependents over 18, an additional cost would be USD 25,000 per dependent. These fees include accelerated application processing charges. 

Within the donation option, there is also the opportunity to donate to the Sustainable Growth Fund Limited Time Offer. This exclusive offer has been extended to January 31st 2024. 

REAL ESTATE OPTION

The St. Kitts passport requirement for the real estate investment path is to purchase a share in a government-approved project valued at least at USD 200,000 and held for 7 years. Another option is to purchase residential real estate valued at a minimum of USD 400,000 and to hold it for 5 years.  Additional fees may apply. 

OBTAINING A ST. LUCIA PASSPORT

The St. Lucia passport grants visa-free access to over 140 countries and also has significant tax incentives. The processing time is around 4 to 8 months and other requirements are relatively standard.

Unlike the other Caribbean citizenship by investment programs, St. Lucia does not offer a real estate investment option. 

DONATION OPTION

In the case of St. Lucia’s citizenship and the St. Lucia passport programs, the minimum donation amount is USD 100,000 for a single applicant, and a minimum of USD 150,000 for a family of 4. Any further dependants are an additional USD 15,000 each.

GOVERNMENT BONDS

Instead of real estate, the alternative offered in the St. Lucia program is an investment in government bonds. at the minimum financial commitment for the government bond option is at least USD 300,000.  While there is no interest paid, you can redeem 100 % of the bond after 5 years. There is also a non-refundable administration fee of USD 50,000.

In conclusion, the Caribbean citizenship by investment programs offer an attractive and affordable means to obtain citizenship and passports for Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis passport, or St. Lucia.  Each country presents unique investment options, costs, requirements, processing times, and advantages. 

It is essential for individuals and families considering these programs to thoroughly evaluate their objectives and consult with trusted professionals to make informed decisions that align with their needs and aspirations for second citizenship in the Caribbean.

REQUEST MORE INFORMATION ABOUT CARIBBEAN CITIZENSHIP BY INVESTMENT PROGRAMS

For more information on the Caribbean citizenship by investment programmes,

please visit: https://harveylawcorporation.com/citizenship-and-residency-programmes/.

If you have questions or would like a consultation,

please contact HLG Miami office at [email protected] or call +1 352-331-7554.

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