Some Caribbean countries that offer citizenship by investment have no income taxes. They are Antigua and Barbuda and St Kitts and Nevis. In Grenada, Dominica, and St Lucia, foreigners pay taxes only on income earned in the country.
Tax rates are progressive. Thresholds are calculated in local currency, East Caribbean dollars (EC$). One East Caribbean dollar is US$0.37.
Tax residents of the listed Caribbean countries spend at least 183 days a year there. Participation in citizenship by investment programs doesn’t oblige applicants to reside for a long time in the Caribbean, either before or after obtaining citizenship. An investor can get a passport but not become a tax resident of the state.
In Saint Lucia, both residents and non-residents pay tax only on income earned in the country: salaries, business activities, interest, royalties, and rent.
The rates are the same for all taxpayers:
up to EC$10,000 — 10%;
EC$10,000 to EC$20,000 — 15%;
EC$20,000 to EC$30,000 — 20%;
over EC$30,000 — 30%.
Tax residents don’t pay any tax on the first EC$18,400, and standard rates apply to income above this amount. Non-residents pay tax on any amount and are not entitled to deductions.
In Grenada, both residents and non-residents pay tax only on income received from local sources. Taxable income includes salaries and business income.
The rates are similar to tax residents and non-residents:
In Dominica, residents pay income tax on global and Dominica income, while non‑residents only pay income tax on Dominica income. The tax is levied on salaries, business activities, interest, royalties, and rent.
The rates are the same for residents and non-residents:
Antigua and Barbuda and St Kitts and Nevis have no income tax. Even if the investor moves to the country of second citizenship and works or conducts business there, there will be no income tax to pay.