Why invest in real estate in the Caribbean
Caribbean countries are appealing and affordable options to create a safe haven; they offer high living standards, a comfortable tropical climate, and tax optimisation for businesses.
Buying real estate for $200,000+ in a Caribbean country that has a citizenship by investment program can help investors and their families obtain citizenship. Caribbean citizenship has numerous benefits: for example, it grants the right to travel visa-free to more than 100 countries.
There are also no capital gains in the Caribbean, which means businesses can significantly reduce their tax burden. Companies operating outside the Caribbean do not pay taxes on global income.
The property bought in the Caribbean can be used to make a profit, too. Both the annual rental yield and the property prices growth are estimated to be around 3‑5%. This means the purchased property can be rented out profitably, and after several years, the investor can resell it: the citizenship by investment programs generally allow it.
St Kitts and Nevis
Benefits of investing in real estate. St. Kitts and Nevis’s citizenship by investment program was the first in the world; it has been in place since 1984. The country has two options for real estate investors:
- buy a share in a government-approved property for $400,000+ — it can be luxury hotels and resorts;
- buy a condominium with the Approved Private Home status for at least $400,000;
- or invest at least $800,000 in a private dwelling designated as an Approved Private Home.
An investor can sell a property in 7 years. The investor also earns a profit of 5% a year from leasing the property.
In St. Kitts and Nevis, investors can buy property for long-term personal use. Other Caribbean CBI’s programs usually require renting out investment property to generate profit for the country.
Average cost of property. A three-bedroom apartment in St. Kitts and Nevis costs approximately $4,300 a month — this is the highest price among the Caribbean countries with CBI programs.
St. Kitts and Nevis also has a higher annual rental yield than Antigua and Barbuda, Grenada, Dominica, or St Lucia — about 4—5%. Real estate prices in St Kitts and Nevis grow on average by 4—5% per year.
Oceanfront villas in St. Kitts and Nevis cost from $350,000; the price per square metre for such objects is from $190,000. Less expensive real estate is for sale starting at $5,000 per square metre.
Benefits of living in St. Kitts and Nevis. St. Kitts and Nevis is known for its medical schools — for example, the University of Medicine and Health Sciences. Graduates from St. Kitts and Nevis are eligible for the scholarships offered by universities in the UK.
Healthcare in St. Kitts and Nevis is free of charge for those under 18 and over 62.
St. Kitts and Nevis citizenship can be inherited: a minor child of a country’s citizen can be granted citizenship by registration.
Renting a property for a family of four would cost about $3,000 a month. Prices per month for apartments in the city centre of St. Kitts and Nevis start at $700.
Examples of investment properties in St Kitts and Nevis
Antigua and Barbuda
Benefits of investing in real estate. Buying property in Antigua and Barbuda is a path to obtaining the country’s citizenship. This is a significant benefit for investors who plan to not only travel to but also live in the country.
Property can also be rented out to make a profit — Antigua and Barbuda allows that. The approximate annual rental yield in the country is 4%, which is only 1% less than in Dominica and St. Kitts and Nevis.
The property prices in Antigua and Barbuda grow by 3–5% a year; the object can be profitably sold in 5 years after obtaining citizenship or rented out.
Average cost of property. The average cost of renting a three-bedroom apartment in Antigua and Barbuda starts at $4,000. Along with St. Kitts and Nevis, Antigua and Barbuda has the highest monthly price for rented property.
To obtain citizenship, investors buy property for $200,000 or more. The average price for a government approved-object in Antigua and Barbuda starts at $250,000.
Prices per square metre range from $5,000 to $8,000 and depend on the type of property. Small villas with a bedroom or two cost up to $2,000,000; oceanfront large apartments cost from $1,000,000.
An investor is not obliged to buy the entire object; they can buy a share — for example, in hotel complexes.
Antigua and Barbuda restricts the types of real estate that can be bought under the citizenship program — the object must be government-approved. The property can be sold in five years. However, each object can only be sold twice before it is excluded from the CBI program.
Benefits of living in Antigua and Barbuda. The country is developing fast, and investors willing to obtain second citizenship and tourists contribute to the country’s economy.
Education in Antigua and Barbuda is free for those under 16, and there are both public and private schools. Getting an international degree is also possible. The American University of Antigua has agreements with the Herbert Wertheim College of Medicine located in Florida and the Warwick School of Medicine — they allow students from Antigua and Barbuda to study in the USA and the UK.
Healthcare in Antigua and Barbuda is on an international level. The Medical Benefit Scheme, available for legal residents of the country, allows citizens to seek primary medical treatment for free.
A family of four's estimated monthly costs are $4,100 without rent; a single person spends approximately $1000 a month in Antigua and Barbuda.
Examples of investment properties in Antigua and Barbuda
Benefits of investing in real estate. Grenada is considered to be one of the safest Caribbean countries. It is a perfect place to relocate with a family and enjoy white sand beaches.
Grenada offers a CBI program. One of the options is to buy real estate for $220,000 or more. The investment can be returned in five years. In the meantime, an investor can rent the object out. The annual rental yield in Grenada is 4.3%.
Grenada does not require investors to visit the country to invest in real estate; the procedure is remote. You can choose a property online, and the licensed agent will help you buy it.
Average cost of property. Renting out property in Grenada is less profitable than in other Caribbean countries, except Dominica. The monthly price for a three-bedroom apartment in Grenada is about $3,000.
The price of Grenadian property that qualifies for citizenship by investment program ranges from $3,000 to $5,000 per square metre. An investor can buy an object or a share in a complex from $220,000.
Benefits of living in Grenada. Grenada is home to one of the most internationally recognised medical schools, St. George's University. The School’s graduates can work in the USA — 94% of them got US residency over the last 3 years.
The healthcare system of Grenada is one of the best among the Caribbean countries. The island is small, but there are five public and four private hospitals in Grenada. No household is left without a medical facility nearby.
Grenada is an affordable country. The monthly rent for a two-bedroom apartment in the city centre starts at $600.
Examples of investment properties in Grenada
Benefits of investing in real estate. Dominica is called the pearl of the Caribbean. If you want to admire the seaview from your family villa, consider participating in a Dominica citizenship by investment program.
Dominica has one of the most affordable CBI programs. Investors purchase real estate for $200,000 or more.
Property can be rented out after purchase, or sold in 3 years after obtaining citizenship — this is 2 years earlier than in other Caribbean countries. The real estate prices in Dominica grow by 4–5% annually.
Average cost of property. Dominica has the lowest rent prices in the Caribbean — about $2,300 a month for a three-bedroom apartment.
The prices for property that is approved for citizenship by investment program start at $3,000 per square metre. As in Antigua and Barbuda and St. Kitts and Nevis, in Dominica it is allowed to purchase resale real estate.
Benefits of living in Dominica. Dominica is a perfect place to enjoy a hassle-free evening with a bottle of wine. Investors and tourists choose Dominica because of its lush nature and spectacular seaview.
Dominica has more than 60 schools, both private and public. Pursuing higher education is possible: there is a branch of the University of the West Indies and a medical school at the All Saints University of Canada. Nationals of Dominica often study in the UK as a part of the agreement between the Commonwealth Nations.
There’s no public healthcare in Dominica. For qualified treatment, Dominican citizens travel to other Caribbean islands.
A family of four's monthly costs in Dominica are $3,000 plus rent. A single person spends about $1000 a month, plus rent. Prices for renting property in Dominica start at $600.
Examples of investment properties in Dominica
Benefits of investing in real estate. To obtain St. Lucia citizenship by investment in real estate, you can purchase property from $200,000. The investment can be returned in 4 years; however, a non-refundable state-fee of $30,000+ is also paid.
The tourist market in St. Lucia is well-developed due to the island's affordability. The country is visited by more than 1 million tourists a year, so investment property can be easily used for lease. The rental yield is about 3—5% per year.
Average cost of property. St. Lucia has the lowest monthly rent price — about $2,300 monthly for a three-bedroom apartment.
Apartments with one or two bedrooms usually cost from $400,000; villas by the seashore cost from $3 million.
Benefits of living in St. Lucia. Many of the medical schools in St. Lucia cooperate with international clinics in the USA and other neighbouring countries.
There’s no public healthcare in St. Lucia, but the country has a National Health Scheme for legal residents. It does not equal public healthcare and only covers some of the possible health risks.
St. Lucia offers an affordable lifestyle. A single person spends from $400 a month without rent. A family of four would expect to spend from $1,000 in St. Lucia.
Benefits of investing in real estate. Investing in a stable real estate market in the Bahamas can be profitable; about 9 million people visit the Bahamas every year as tourists.
Investors can buy rental property and make a profit of about 8% a year. The Bahamas are famous for luxury property that is appealing to high-net-worth individuals.
The Bahamas are a tax haven, but there is a real property tax — the percent depends on the property value.
Average cost of property. The average prices for real estate in the Bahamas start at $3 million and depend on the region. For example, one of the most affordable islands, Grand Bahama, offers property starting at $300,000.
Demand usually influences real estate prices in the Bahamas. Oceanfront property with access to beaches is sought after by investors and tourists.
Benefits of living in the Bahamas. The Bahamas is an inviting destination not only for tourists but also for students; there are nine universities to choose from. Among them are the University of the Bahamas, the Bahamas Institute of Business & Technology, and the Institute of Business & Commerce.
The Bahamas are expensive to live in: on average, prices there are about 30% higher than in the US, excluding rent.
Pregnant women, children, and the elderly can benefit from free primary healthcare in the Bahamas.
The Cayman Islands
Benefits of investing in real estate. As an international tax haven, the Cayman Islands have a stable economy. The destination seems to be as popular as the Bahamas for the same reasons — pleasant climate and luxury resort property.
The annual rental yield in the Cayman Islands is up to 8%. The islands have profitable rental returns.
Average cost of property. The prices for a two-bedroom apartment in the Cayman Islands start at $400,000.
The average price for a condominium starts at $3,000,000 and depends on demand and how far the condo is from beaches.
Benefits of living in the Cayman Islands. The only public university in the Cayman Islands is the University College of the Cayman Islands. There are also schools affiliated with international universities — for example, Truman Bodden Law School.
Healthcare in the Cayman Islands is on an international level. There are two private hospitals, the Cayman Islands Hospital and Faith Hospital.
The Cayman Islands’ residents enjoy a luxurious lifestyle. A family of four spends no less than $5,000 a month without rent.
Other Caribbean countries to invest in real estate
The most expensive property is in Jamaica and Barbados; prices for real estate there start at $2,000 per square metre. Since the property there is in demand among wealthy tourists, it can be a profitable investment.
Jamaica and Barbados do not offer CBI programs. Foreign buyers of property in Barbados acquire permission to do so. Jamaica does not have any restrictions on foreign property buyers.
The Dominican Republic is another option. The prices there are lower, but the country is as popular as Jamaica and Barbados. The average price for a two-bedroom apartment starts at $100,000.
Average prices per square metre in the Caribbean countries
|The Cayman Islands||$9,000|
|Antigua and Barbuda||$5,600|
|St Kitts and Nevis||$3,500|
|The Dominican Republic||$1,400|
What is the cheapest Caribbean country to buy real estate in?
The cheapest Caribbean islands to buy property are probably Saint Vincent and the Grenadines, and the Dominican Republic — the average price for a square metre there starts from $1,100.
Despite being affordable, cheaper property might not be as beneficial as property that qualifies for citizenship by investment programs.
How to buy real estate and get a Caribbean passport: step by step procedure
Investors can obtain citizenship by investment in a Caribbean country’s real estate. Countries that provide CBI programs are Dominica, St. Kitts and Nevis, Antigua and Barbuda, St. Lucia, and Grenada.
How to move to the Caribbean by investment in real estate
Immigrant Invest conducts a Due Diligence check. The procedure is confidential, only an investor’s passport is needed.
The check helps reveal any issues in the investor’s biography and reduces the risk of rejection to 1%.
Lawyers help in selecting property for the investment, then fill out the necessary forms, make verified copies of documents, and assist in translating them.
The country chosen for the CBI program by an investor performs its own Due Diligence check. The applicant pays state fees.
After approval of the application, an investor fulfils the terms of the program by buying property.
A passport is issued within 4 weeks after making an investment in real estate. The procedure is remote; the documents are sent to the investor’s address by courier.
- Buying real estate in the Caribbean can be a path to citizenship. Dominica, St. Kitts and Nevis, Antigua and Barbuda, St. Lucia, and Grenada have citizenship by investment programs.
- The minimum investment in real estate in the Caribbean is $200,000. The average cost of property in the Caribbean is $3,000 per square metre in the regions in demand and $1,000 in off beach areas.
- The Dominican Republic and Haiti have the most affordable properties but are not the primary options for real estate investors.
- Investors typically choose countries that provide CBI programs — investment property can be sold in 5 or 3 years after obtaining citizenship.
- The most expensive properties are in Jamaica and Barbados. Prices for real estate there start at $2,000 per square metre.
Frequently Asked Questions
The best Caribbean island to invest in real estate depends on the investor’s needs.
Those who want to enjoy benefits such as travelling visa-free to the Schengen area or starting an international company in the Caribbean opt for one of the following countries: Dominica, St. Kitts and Nevis, Antigua and Barbuda, St. Lucia, and Grenada.
The minimum investment in real estate is $200,000; the procedure is completely remote and takes about 6 months.
The cheapest Caribbean islands to invest in property are Saint Vincent and the Grenadines and the Dominican Republic.
Among the islands that offer citizenship by investment, Grenada has the most affordable property. The average price per square metre there is $2,000.
You can only buy government-approved property to qualify for the program, which typically includes hotel complexes and vacation homes. St. Kitts and Nevis allows the purchase of property for personal use.
The investment property can be returned in 5 years, and in 3 years in Dominica.
An investor does not need to live in the country of choice permanently or take any exams to get citizenship.
Countries that attract high-net-worth-individuals have the most expensive property in the Caribbean — for example, Jamaica, Barbados, the Bahamas, and the Cayman Islands.
Countries with relatively lower costs of living and real estate prices are Saint Vincent and the Grenadines, the Dominican Republic, Haiti, and Grenada.
Probably, yes. The profitability of Caribbean property was between 3 and 5% per year. The Caribbean countries are considered the first choice among high‑net‑worth individuals — whether it’s for a vacation or relocation.
The economies of the Caribbean countries have recently recovered from the pandemic and the fall of the British pound in 2019. The GPT growth projection for 2023 is 3.5% for the Caribbean.