Obtaining a second passport is like creating a "backup" airfield, providing the opportunity to travel visa-free and take your business to an international level. The investment threshold in Caribbean programs is lower than in any of the European programs.

A significant difference is that Caribbean programs provide for the investor to receive citizenship immediately and become a full-fledged citizen, rather than a residence permit, as in Europe or the UAE.

Key advantages of a Caribbean passport through investment:

  1. Visa-free travel. A passport from any Caribbean nation allows entry into over 130 countries visa-free or with a visa on arrival, including the Schengen Area, the UK, and China (for citizens of Grenada).
  2. Low investment entry. Entry into the program is possible with an investment starting from $100,000 through a non-refundable contribution to the country's economy or real estate purchase.
  3. Ability to obtain a visa to the United States or Canada. With Caribbean citizenship, one can apply for a long-term 10-year visa. Grenadian passport holders can apply for the E2 business visa (USA).
  4. Favorable tax climate. It is advantageous to register a business in Caribbean countries: there is no taxation on profit, inheritance, or worldwide income.
  5. Prompt passport acquisition. Citizenship processing takes up to six months.
  6. Transfer and inheritance of citizenship status. Citizenship is not limited by time frames and can be passed down through inheritance.
  7. Obtaining a passport from an island nation does not require the applicant to renounce their original citizenship.

How to participate in the program? Authorities of each country have developed several options - each investor chooses the most suitable one.

Caribbean Passport: Advantages and How to Obtain (overview of current programs and list of closed programs)

Saint Lucia

The passport issuance procedure for funds in Saint Lucia was launched in 2016 and is considered one of the latest among similar programs.

The island nation offers the following options:

  1. A one-time contribution to government funds: $100,000 for the applicant and $200,000 for a family of four.
  2. Purchase of real estate or a stake in a hotel starting from $300,000. Properties can be selected from an approved list of developers. Real estate can be sold after 5 years of ownership.

Changes in the program in 2023:

  • From 01.01.2023, the entry threshold through real estate acquisition was reduced from $300,000 to $200,000.
  • Requirements for bond purchases were reduced from $500,000 to $300,000, and the number of participants does not matter.
  • Developers wishing to include their properties in the program must pay a $7,500 fee for verification.

Saint Kitts and Nevis

The citizenship by investment program started in 1984.

The program offers 3 participation options:

  1. A one-time non-refundable contribution to the Sustainable Growth Fund: $150,000 for the applicant and $195,000 for a family of four.
  2. Contribution to the Sugar Industry Diversification Fund: $250,000 for the investor and $300,000 for the applicant with a family, including children up to 20 years old.
  3. Purchase of real estate or a share in a hotel from $400,000. After 5 years, the property can be sold without losing citizenship and privileges.

Main changes in the program in 2023:

  • From 01.01.2023 to 30.06.2023, applicants have access to a $125,000 contribution to the Sustainable Growth Fund and citizenship processing within 2 months (this is $25,000 cheaper than before). From 01.07.2023, the cost of participation will increase, and application processing times will increase to 3 months. The passport acquisition process can be accelerated for $25,000.
  • Only developers who have passed the authorities' verification and approval can participate in the program. The list of projects valid in 2022 has been invalidated.

Citizenship of Saint Kitts and Nevis is ideal for cosmopolitans. The passport offers visa-free entry to almost 140 countries worldwide.

Dominica

The investment program started in 1993, and over the first 20 years, over 12,000 passports were issued (full statistics are hidden). The country has the lowest rejection rate - 2%.

The island nation offers the following participation options:

  1. A one-time contribution to government funds - $100,000 for the applicant, $175,000 for a family of two, and $200,000 for a family of four.
  2. Purchase of real estate. A property can be selected from the registry of real estate approved by the government for participation in the program. The purchase amount is at least $200,000. Ownership of the property is required for a minimum of 5 years, after which it can be sold without losing citizenship.

Main adjustments to the program made in 2022-2023:

  • Since fall 2022, applicants cannot add their spouse's siblings to the application.
  • Adult children must provide proof of attending university and financial depend on the applicant.
  • The applicant's parents can be included in the application if they are under 65.
  • From 2023, a fee of $25,000 is charged for each family member if the applicant chooses the donation option to the Economic Development Fund.

Grenada

The updated citizenship by investment program has been operating in Grenada since 2013.

How to participate in the program:

  1. A non-refundable contribution to government funds: $150,000 for a single applicant, and $200,000 for a family of four.
  2. Purchase real estate in a government-approved project starting from $220,000. After 5 years, the property can be resold.

Antigua and Barbuda

The passport issuance program for funds has been in operation since 2013. How to participate in the project:

  1. Make a non-refundable contribution to the National Development Fund: $100,000.
  2. Buy real estate worth at least $200,000 and own it for at least 5 years.
  3. Make a charitable donation to the University of the West Indies Fund - $150,000. This option is available for a family of six.

The Antigua and Barbuda program is most beneficial for large families. It is the only country where the applicant must spend a minimum of 5 days during the first 5 years.

Today, none of the Caribbean countries accept applications from Russian citizens. What is the solution? Obtain a residence permit or citizenship of another country, then apply for a program in one of the Caribbean nations.

If you have any questions about citizenship in any country, need assistance with real estate, or resolving other related issues, schedule a consultation with the immigration agency GARANT.IN.