Benefits of Caribbean Citizenship by Investment
Many people choose Caribbean citizenship by investment in order to travel around the world without visas, carry out international business projects and optimize their tax liabilities. In addition, it offers the opportunity to move to a secure country at short notice in the event of political or economic upheaval in their country of origin.
Author •Lyle Julien
Benefits of Caribbean Citizenship by Investment
Five Caribbean countries are offering applicants from all over the world the opportunity to get a second passport by investment. Below, we point out the differences in their citizenship by investment programs.
Cost of Caribbean citizenship by investment
All Caribbean citizenship programs have two main investment options.
A non-refundable contribution to a state fund for national development of at least $100,000. This figure depends on the country and the composition of the family participating in the citizenship program together with the investor.
Contributions to government funds for Caribbean citizenship programs
Investment in government-approved real estate projects worth at least $200,000. These are five-star hotels and resort complexes, sometimes including yacht marinas. Applicants can purchase a share in a project, an apartment or a villa on the territory of a hotel. After 5–7 years, the investment can be recouped by selling the share or property.
Caribbean real estate investments
The Antigua and Barbuda and Saint Lucia citizenship by investment programs offer additional options. Antigua and Barbuda also invite families with 6 or more members to make a non-refundable contribution to the University of the West Indies Fund of at least $150,000. Saint Lucia offers applicants the additional opportunity to purchase government bonds for $300,000. Furthermore, both these citizenship programs also offer applicants the possibility of investing in a business: the minimum amount in Antigua and Barbuda is $400,000 and in Saint Lucia, $1 million.
Other application costs for the Caribbean citizenship programs
Additional government fees and duties need to be paid by the applicant. A Due Diligence fee is always charged regardless of the option selected or the citizenship program. These costs vary by country, as well as the age and degree of kinship of the family members included in the application in addition to the main applicant.
Due Diligence fee for Caribbean citizenship programs
In addition, there is a state fee for filing a citizenship by investment application. Some programs require an additional fee to be paid by applicants who decide to invest in real estate.
Application fee
There is also a small fee for issuing a passport: for a single applicant,
$100–$500, and for a family of four, up to $5,000.
Which family members can apply together with the main applicant
All Caribbean citizenship by investment programs allow the main applicant to include their spouse, children under 30, parents, brothers and sisters in the application.
Adult children who are financially dependent on the investor can also participate in the program. They should be no more than 30 years old, and in Antigua and Barbuda — no more than 28 years old.
Antigua and Barbuda, Grenada and Dominica also allow the main applicant’s grandparents to be included.
But the more family members are included in the application, the higher is the cost of participation in a program
The procedure for obtaining citizenship by investment in a Caribbean country
All the Caribbean citizenship by investment programs allow the process to take place remotely, without the applicant visiting the country or the office of Immigrant Invest. We conduct a preliminary Due Diligence check on the applicant to reduce the risk of their application being rejected to 1%.
Then our lawyers prepare the required package of documents and submit the application on behalf of the applicant to the government department dealing with the citizenship program. The applicant pays the Due Diligence fee.
The Due diligence check takes 1 to 3 months to complete. If the citizenship by investment application is accepted, the applicant needs to make the investment specified in the application. After that, naturalization certificates and passports are issued. We send them by courier to your address.
The entire process of obtaining a second citizenship by investment in the Caribbean lasts from 2 to 6 months, depending on the country selected.
You do not have to visit the country to which you have applied for second citizenship either before or after obtaining your second passport. Antigua and Barbuda is the only exception, as the terms of its citizenship by investment program requires the applicant to spend at least 5 days in the country during the first 5 years of citizenship.
Traveling with a Caribbean passport
Caribbean citizenship gives the right to travel without a visa to more than 140 countries, including the Schengen countries, Britain, Singapore and Hong Kong. Citizens of Grenada can also visit China without a visa.
Furthermore, any Caribbean passport entitles the holder to apply for a 10-year U.S. tourist visa. Applications can be made at any U.S. consulate and the visa takes 2 weeks to process.
Other advantages of Caribbean passports
Relatively low cost of a second passport, which is issued quickly. For comparison, Maltese citizenship for exceptional services by direct investment costs at least 1 million euros and it takes 14 months for a passport to be issued.
The opportunity to recoup the initial investment after 5–7 years if you buy a share in a hotel. Moreover, as prices for Caribbean real estate are currently growing by 1.5–2% per annum, the sale can generate a profit.
Access to European banks. Opening an account at a European bank with a Caribbean passport is much easier than it is for citizens of a number of other countries. A bank account at a well-known European bank offers security, the opportunity to increase your savings and speed up foreign exchange settlements.
Favorable tax rates: no taxes on capital gains, interest payments, dividends, donations or inheritance.
Possibility of registering assets using your second passport rather than your original passport.
Here are the reasons why investors choose Caribbean and Vanuatu citizenship programs.
Immigrant Invest is a licensed agent for citizenship and residence by investment programs in the EU, the Caribbean, Asia, and the Middle East. Take advantage of our global 15-year expertise — schedule a meeting with our investment programs experts.
Frequently Asked Questions
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