CITIZENSHIP BY INVESTMENT (CBI): LIVING THE CARIBBEAN DREAM
Citizenship by investment enables individuals to acquire a second citizenship by making a significant financial contribution to another country.
Mutually Beneficial
Citizenship by investment is beneficial for the candidate and the country of destination.
- The benefits gained by individuals include:
- Beneficial tax and inheritance laws
- Business and investment opportunities
- Lifestyle happiness
- Cultural enrichment
- Enhanced global mobility
The benefits gained by a country include:
- Stimulation of the economy through direct investment and job creation
- Development of projects and programs through development funds
- Increase in commercial and residential real estate
- Boosting of the tourism industry
- Attraction of global talent and new business
Second citizenship is a win-win for all involved. For the investor, a new world is opened up. For the country, economic and social development is enhanced.
Caribbean Citizenship by Investment
Five Caribbean nations offer citizenship by investment through donations or real estate investment: Antigua and Barbuda, Saint Kitts and Nevis, Saint Lucia, Dominica, and Grenada.
Antigua and Barbuda
Antigua and Barbuda is a 170-square-mile independent commonwealth country made up of two large islands and several smaller islands (Great Bird, Green, Guiana, Long, Maiden, Prickly Pear, York, Redonda). It is situated near the equator, where the Atlantic Ocean and the Caribbean Sea meet. Its capital is St. John’s.
Volcanic and coral in origin, Antigua and Barbuda has chiseled shores lined by reefs, shoals, harbors, and beaches.
Antigua and Barbuda has a tropical savanna climate with warm tropical temperatures throughout the year. Its annual precipitation averages 39 inches. It has two seasons: a wet season between September and November and a dry season between mid-January and June. Hurricanes plague the wet season.
Antigua and Barbuda’s population is 100,772 (2022 est.): 87.27% of its population is Black, 4.73% is multiracial, 1.65% is European, and 6.35% is made up of other races. The majority of the population is Christian (76.5%).
Antigua and Barbuda’s vernacular language is Creole, and its working or official language is English.
Antigua and Barbuda has a constitutional, parliamentary monarchy similar to that of the United Kingdom. Queen Elizabeth II serves as the head of state, and a governor-general serves as a vice-regal. Parliament is the decision-making government body.
Antigua and Barbuda’s economy is primarily service-based, with tourism accounting for over half of its gross domestic product.
In recent years, Antigua and Barbuda has sought to diversify its economy--with manufacturing, transportation, construction, communications, and financial services becoming more important.
Antigua and Barbuda is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Bank (ECCB) issues the Eastern Caribbean dollar.
Citizenship by Investment Benefits and Requirements
Citizenship by investment offers visa-free travel to over 160 countries. Citizenship by investment can be acquired through a $100,000 contribution to the Antigua National Development Fund, through a $400,000 pre-approved real estate investment, or through a $1.5 million business venture.
Saint Kitts and Nevis
St. Kitts and Nevis is a 101-square mile two-island country located in the Leeward islands chain of the Lesser Antilles situated between the Atlantic Ocean and the Caribbean Sea. Basseterre, located on St. Kitts, is the country’s capital city.
The topography of St. Kitts and Nevis is made up of rugged foothills, mountains, volcanic peaks, valleys, deep ravines, and rainforests. Plantations, grasslands, tropical woodlands, and beaches dot the topography.
St. Kitts and Nevis has a tropical climate. The driest period is between January and April. The wettest season is between May and October. The average rainfall is between 50 to 80 inches annually. Between August and October is the hurricane season.
St. Kitts is a multicultural nation of 53,192 people (2020 est.): 92.5% of its population is African, 3% is multicultural, 2.1% is European, 1.5% is Indian, and 0.9% is unspecified. The majority of the population is Christian (87.6%).
English is the nation’s official language, while Creole is its vernacular language.
St. Kitts is a democratic, independent commonwealth nation—a constitutional monarchy with a governor-general, prime minister, and head of state--with Queen Elizabeth serving as its head of state.
St. Kitts and Nevis is a hybrid economic system where capitalism and centralized government planning co-exist. Most of St. Kitts and Nevis’ gross domestic product is based on the growing and processing of sugar cane. Tourism, manufacturing, and offshore banking have assumed more significant roles in recent years.
St. Kitts and Nevis is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Bank (ECCB) issues the Eastern Caribbean dollar.
Citizenship by Investment Requirements
St. Kitts and Nevis’ citizenship by investment requires a minimum donation of $150,000 to the Sustainable Growth Fund (SGF) or an investment of $400,000 in real estate—plus government and due diligence fees.
Saint Lucia
St. Lucia is a 238-square-mile Caribbean island nation on the boundary between the Caribbean Sea and the Atlantic Ocean. Its coast is adorned with volcanic beaches, reefs, rainforests, waterfalls, and gardens. St. Lucia’s capital is the cruise port of Castries.
St. Lucia has a tropical Caribbean climate. Like its neighboring islands, St. Lucia has a wet and dry season and a hurricane season.
The population of St. Lucia is 984,961 (2022): 85.3% Black, 10.9% multiracial, 2.2% Indian, and 1.6% unspecified. Ninety percent of the population is Christian.
St. Lucia’s vernacular language is Creole, and its official language is English.
St. Lucia has a constitutional, parliamentary monarchy. Queen Elizabeth II serves as the head of state, and a governor-general serves as a vice-regal. Parliament is the decision-making government body.
St. Lucia is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Bank (ECCB) issues the Eastern Caribbean dollar.
The economy of St. Lucia is primarily agricultural in nature--with bananas, mangoes, and avocados being its most popular exports. St. Lucia’s manufacturing industry is considered the most diverse and well-developed among the eastern Caribbean island nations.
Citizenship by Benefits and Requirements
Citizenship by investment is acquired through a minimum investment of $100,000 for a single applicant, $165,000 for a couple, and $190,000 for a family of four. Additional government and due diligence fees are applicable.
Dominica
Officially known as the Commonwealth of Dominica, Dominica is a 290-square-mile Caribbean island country that is part of the Windward Islands chain in the Lesser Antilles. The capital is Roseau, located on the western side of the island.
Dominica has a mostly tropical rainforest climate (with approximately 50 inches of rain per year) along its shore and a tropical monsoon climate (with over 300 inches of rainfall) inland. Its hurricane season is between June and November.
Among its rugged landscapes, multi-layered rainforest, and amid the world’s most rain-soaked lands, Dominica is covered with cascading rivers and natural pools.
Dominica has a population of 72,412 (2021 est.): 86% of its population is African, 9% is multiracial, 2.9% is Kalinago, 1.3% is European, and 1.5% is unspecified. Ninety-five percent of the population is Christian.
Dominica’s vernacular language is Creole, and its official language is English.
Dominica is a parliamentary republic with a president (head of state), a prime minister (head of the cabinet and the executive branch), and a House of Assembly (a unicameral parliament).
The economy of Dominica is based on agriculture, financial services, and passport sales.
In recent years, Dominica has sought to increase its tourism industry through infrastructure improvements—modern docks and other waterfront facilities. Its rugged mountains, rainforests, freshwater lakes, hot springs, and waterfalls have made it an attractive travel destination for eco-tourism.
Dominica is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Bank (ECCB) issues the Eastern Caribbean dollar.
Citizenship by Investment Benefits and Requirements
Citizenship by investment in Dominica is available by making an economic contribution to the country under the government’s investor visa program or through real estate investment. Those who fulfill the requirements of Dominica’s program are granted full citizenship for themselves and their family.
Applicants for citizenship by investment can contribute to the Economic Diversification Fund (EDF)($100,000 for a single applicant, an additional $50,000 for a spouse, and $50,000 for each dependent) or invest a minimum of $200,000 in a pre-approved real estate venture. Due diligence and processing fees apply.
A Dominica passport provides for visa-free travel to over 153 nations.
Grenada
Grenada is a 134-square-mile island country (northwest of Trinidad and Tobago, northeast of Venezuela, and southwest of St. Vincent and the Grenadines) in the Caribbean Sea at the southern end of the Grenadines island chain. Grenada consists of the island of Grenada and several small islands-- Carriacou and Petite Martinique being the most well-known of the small islands. Grenada’s capital is St. George’s.
Grenada has a tropical climate. It is warm, humid, and rainy year-round (78 inches of rain annually). Its hurricane season is between June and November.
Its topography is volcanic and mountainous.
Grenada’s vernacular language is Creole: English is its official language.
Grenada has a population of 124,610 (2021 est.): 82.4% African, 13.3% multicultural, 2.2% East Indian, and 2.2% unspecified. Christianity forms 86.4% of the population.
Grenada is a constitutional, parliamentary democracy with a prime minister (the head of government), a cabinet, and a bicameral parliament (an elected House of Representatives and an appointed Senate). The judiciary is similar to that of the United States--independent of the executive and legislative branches of government.
The economy of Grenada is mainly based on agriculture and tourism. Grenada is a producer and exporter of nutmeg, cocoa, citrus fruits, bananas, cloves, and cinnamon. It is a world-class tourist destination with majestic beaches, waterfalls, wildlife, and quaint villages.
Citizenship by Investment Benefits and Requirements
The Citizenship by investment program in Grenada provides visa-free travel to over 153 countries and access to the United States E-2 (E2) treaty investor visa program.
Citizenship is acquired through a $150,000 donation or through a pre-approved minimum $220,000 real estate investment.
Questions To Ask When Considering Citizenship By Investment
Relocating or migrating to a new location is a big move, requiring much thought and reflection. A consultation firm is helpful when fleshing out the right questions and answers. Questions such as:
What is my budget?
Do I need to finance the investment amount?
Am I looking for tax relief or asset protection by migrating?
Am I seeking to start a new business?
What are my lifestyle expectations?
How important is the language of the country I desire second citizenship in?
How important is the country’s healthcare system?
How quickly do I want to attain citizenship?
How much time do I intend to spend in my second citizenship country?
Consultation
A consultation firm is vital when making life-changing migration or relocation decisions.
Consultation firms make relocation and migration easier. From choosing the right country to navigating through applications and required documents, having the aid of professional consultants is useful.
Sources: Momsen, J. D. , Niddrie, . David Lawrence and Tolson, . Richard. “Antigua and Barbuda.” Encyclopedia Britannica, March 17, 2022. https://www.britannica.com/place/Antigua-and-Barbuda: Mills, G. E.M. and Momsen, . Janet D.. “Saint Kitts and Nevis.” Encyclopedia Britannica, August 8, 2022. https://www.britannica.com/place/Saint-Kitts-and-Nevis: Momsen, J. D. , Niddrie, . David Lawrence and Tolson, . Richard. “Saint Lucia.” Encyclopedia Britannica, January 10, 2022. https://www.britannica.com/place/Saint-Lucia: Momsen, J. D. and Niddrie, . David Lawrence. “Dominica.” Encyclopedia Britannica, January 31, 2021. https://www.britannica.com/place/Dominica: Britter, E. V.B.. “Grenada.” Encyclopedia Britannica, September 11, 2020. https://www.britannica.com/place/Grenada.
