Citizenship by Investment in the Caribbean
In the Caribbean, five jurisdictions have adopted Citizenship by Investment (CBI) programs: St. Kitts & Nevis, St.Lucia, Grenada, Antigua & Barbuda and Dominica. Becoming a citizen of any of the five Caribbean jurisdictions provides for a top ranked passport with visa free access to 140+ countries world-wide.
All five Caribbean citizenships allow for residence in any of the OECS (Organisation of Eastern Caribbean States) member states, namely St. Kitts & Nevis, St. Lucia, Grenada, Antigua & Barbuda, Dominica, St.Vincent & Grenadinen and Montserrat.
Furthermore, the CBI passport allows for freedom of movement between the CARICOM countries, including Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaika, Montserrat, St. Lucia, St. Vincent & Grenadines, Suriname and Trinidad & Tobago.
Typically, CBI programs offer different investment options; investing / donating to a government development program, purchasing government approved real estate, investing in a local business or acquiring government bonds.
Investments start at USD 200,000 for the main applicant in Dominica; St.Kitts & Nevis, St.Lucia, Antigua & Barbuda, Dominica and Grenada offer CBI family packages starting at 230,000, going up to USD 5 million for investing in an enterprise or joint venture. Family members can be added to the application for an additional contribution and the acquired citizenship can be passed down to descendants.
Vanuatu, a member of the Commonwealth, is offering a competitively priced CBI program starting at USD 100,000 (plus redeemable bond investment) for a single applicant. The country has significantly improved their due diligence procedures and offers very quick processing. Vanuatu passports grant freedom of movement throughout most of the Caribbean commonwealth jurisdictions. Read more on Vanuatu here…
St. Kitts and Nevis
St. Lucia
Grenada
Antigua and Barbuda
Dominica
Application Process
In each jurisdiction, their respective local government is responsible for the processing of all applications. Local laws stipulate the procedures and due diligence requirements, including which documents and application forms have to be included in the file. In Caribbean jurisdictions, while a video interview has become mandatory, the physical presence of the main applicant is not required. However, applicants wishing to invest in real estate typically visit the island to take a look at the different real estate developments.
Once the complete application file has been handed in with the local government, due diligence checks and processing takes around 3-4 months; having said that, some islands are a little faster or offer expedited processing, while others might take a little longer due to an increased number of applications. Once the government has concluded all their due diligence work and due process, the applicant will receive a confirmation or a certificate. At this point, the applicant is invited to make the investment within 30 to 90 days. The passport is issued thereafter, and can either be collected or will be sent via world-wide courier service.
Fees include various government application, processing and due diligence fees, as well as professional fees. The fee structure and total amount vary depending on the jurisdiction, the investment option chosen and the number of family member / dependents. If you would like to find out more about the citizenship by investment options in the Caribbean, please get in contact with me.