The countries provide different investment conditions; the minimum is $100,000. To obtain citizenship, an investor contacts a program's licensed agent, prepares documents and passes Due Diligence.
Requirements for applicants for Caribbean citizenship by investment
Investors are to meet several criteria to qualify for Caribbean citizenship. The list of requirements includes:
- age limit — from 18;
- absence of criminal records;
- ability to fulfil the investment condition;
- legal income and investment sources;
- good health.
A spouse, children, parents and grandparents can qualify for second citizenship. In 2020, all Caribbean countries allowed investors’ siblings to participate in CBI programs as well.
Lawyers prepare and submit documents to confirm that the applicant can rightfully claim citizenship. The list includes medical certificates, police clearances, and personal and financial documents. Based on them, the country's citizenship by investment unit conducts Due Diligence and decides whether to grant Caribbean citizenship to the applicant.
Investments in getting a second Caribbean passport
There are at least two options for investors: a non-refundable contribution to a country's fund and a purchasing real estate. The investment amount differs depending on the option.
As for the contribution, the bigger investor's family, the more significant investments are.
State fund contributions
|Country||For investor||For a family of 4: spouses and children under 16|
|Antigua and Barbuda||$100,000||$100,000|
|Saint Kitts and Nevis||$150,000||$195,000|
Real estate investments don't depend on family composition. But the state fee is different for single applicants and families. In general, the option requires more expenses, but they are returnable as the investor has the right to sell the property in 5—7 years.
Caribbean real estate purchase costs
|Country||Real estate investment||State fee for investor||State fee for a family of 4: spouses and minor children|
|Antigua and Barbuda||$200,000||$30,000||$30,000|
|Saint Kitts and Nevis||$200,000||$35,050||$75,200|
The investor cannot simply buy a house or apartment on the Caribbean islands. The CBI programs accept only investments in government-approved properties. Typically, investors are offered to participate in the construction of luxury hotels.
Alternative investment options are offered by two Caribbean countries:
- Antigua and Barbuda. Businessmen can invest 1.5 million dollars or more in local companies. Families of at least 6 members can contribute $150,000 to the University of the West Indies Fund.
- Saint Lucia. Business investments imply at least 3.5 million dollars and the creation of at least three new jobs. If the investor wants to involve business partners, joint investments of at least 6 million dollars are allowed. Another alternative option is the purchase of government bonds. The standard bond cost is $500,000. But until the end of 2022, investors buy special Covid Relief Bonds for $250,000.
The applicants also pay for Due Diligence, government fees and property taxes.
The procedure of obtaining Caribbean citizenship takes several steps:
- Contact a program's licensed agent, pass preliminary Due Diligence and enter into an agreement.
- Collect and prepare necessary documents.
- Wait for the Due Diligence results from the CBI unit.
- Make an investment.
- Get a passport and naturalization certificate.
Steps may differ from time to time; some are left out, some added. But the five listed steps are mandatory; they are present in any procedure version.
To choose a Caribbean citizenship program, don't hesitate to contact us. We will tell you about the programs' benefits and pitfalls, and calculate the cost of second citizenship for you and your family.