Caribbean islands citizenship by investment programs – A comparison

By Varun Singh

The Caribbean region’s Citizenship by Investment (CBI) programs provide a variety of citizenship-related visa choices. Successful applicants and their families can work and reside in any other CARICOM Single Market and Economy (CSME) member state, as well as travel visa-free to over 140 countries, including the UK and the EU.

The CBI program in Antigua and Barbuda provides investment opportunities, including a $100,000 government grant for up to four family members or a $125,000 government donation for five family members, or investing a minimum of USD 200,000 in authorised real estate. It does, however, prohibit or bar candidates from Afghanistan, Iran, Yemen, Somalia, Sudan, Russia, Belarus, and Chechnya.

A minimum investment of USD 150,000 must be made in the National Transformation Fund or USD 220,000 must be invested in eligible real estate in order to participate in Grenada’s CBI program. Grenada provides the special benefit of being able to enter China without a visa and applying for an E-2 USA visa after three years of residency. The program is regarded as one of the quickest to approve applications.

Under Dominica’s CBI program, an individual must invest a minimum of USD 100,000, a couple must invest USD 150,000, or a family of four must invest USD 175,000. Alternatively, the applicant may pay USD 35,000 in addition to a minimum investment of USD 200,000 to invest in approved real estate. Although Dominica offers visa-free travel to China, it does not currently offer visa-free travel to the UK. The program is typically the quickest to approve an application.

Opportunities for CARICOM Citizenship and Residency

The Caribbean Community, or CARICOM, is a regional organisation with 20 member states that seeks to advance economic cooperation and integration. The ability to travel to over 140 countries without a visa and the freedom to reside, work, and settle in any other CARICOM Single Market and Economy (CSME) member state are just two of the many special advantages that come with being a CARICOM citizen.

Multiple citizenship is permitted in CARICOM member states, and there are no inheritance, capital gains, or taxes on foreign money. The CSME enables CARICOM nationals to open enterprises across member states by facilitating the free movement of capital, skills, commodities, services, and the right to establish.

Comparing Caribbean Citizenship through Investment Programs

A wide range of Citizenship by Investment (CBI) schemes are available in the Caribbean, and they all have something in common: they appeal to investors looking to acquire a second citizenship because of their shared advantages. Citizens of the Caribbean have the freedom to live, work, and settle in any member state of the CARICOM Single Market and Economy (CSME), providing opportunities for travel and commerce. The area is a desirable option for people seeking a safe and tranquil place to live because of its temperate climate, breathtaking scenery, affordable cost of living, and low crime rate.

Additionally, all Caribbean CBI programs permit dual citizenship, allowing people to take advantage of the advantages of several countries and diversify their portfolio of citizenships. These programs are renowned for their tax-friendly regulations, as they do not impose any capital gains, inheritance, or taxes on offshore money. Investors benefit from the tax-efficient environment and the possibility of holding several citizenships, which give them financial protection and flexibility.

Transferring Citizenship to Upcoming Generations

In the Caribbean, children born within five years of an applicant obtaining citizenship may be registered under Citizenship by Investment (CBI) programs, provided costs are paid. This clause guarantees that future generations will be able to enjoy the advantages of CBI-acquired citizenship, leaving a priceless legacy for families.

With regard to third-party sponsorship for CBI applications, Antigua and Barbuda and Dominica have accommodating policies. While Dominica allows third-party sponsorship with additional fees, Antigua and Barbuda do not charge applicants for third-party sponsorship. Because of this flexibility, more applicants—including those who might not be able to independently meet the financial requirements—can apply to CBI programs.

However, Grenada’s CBI program does not accept sponsorship from outside parties. While this regulation may reduce the number of candidates who can take use of Grenada’s CBI program, it also makes sure that all applicants fulfil the government’s due diligence and financial standards.

CARICOM Citizenship: The First Step Towards Citizenship in 20 Caribbean Countries

Citizens of CARICOM are entitled to residency privileges in twenty member states: Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Turks and Caicos Islands, Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

These countries provide breathtaking scenery, a variety of cultural experiences, and exceptional prospects for retirement, investment, or second homes. Citizens of CARICOM countries, with the exception of Dominica, where entry is limited to the Schengen area, are not required a visa to enter the UK. Citizens of the 15 member states rely on the CARICOM passport, which makes travel both domestically and abroad easier. It is a key travel document, with its dark blue cover with the words “Caribbean Community (CC)” and the name of the issuing nation.

Conclusion

The Caribbean provides a unique combination of benefits, such as visa-free travel, multiple citizenships, low living costs, safety, and tax advantages. The Caribbean offers a diverse range of citizenship by investment programs that cater to various investor needs and preferences.

(Author is MD, XIPHIAS Immigration)