Investment Migration Insider recently launched CBI Real Estate Watch©, an online platform for tracking approved citizenship by investment programs. The platform was created in response to widespread controversy in the Caribbean over developers who collect investments without actually constructing anything.
Data collection for the various projects in the Caribbean was previously an arduous task. Hundreds of emails and surveys were sent, as well as calling different developers, which only resulted in their inability to provide basic information on their projects, such as status, whether it was sold out or not, what year the CIP-approval was received, or even where to locate photo updates.
It was assumed that the real estate developers, who produce revenue by selling property which they spend large amounts of money on marketing to potential investors, would happily oblige efforts to gain information on these projects. The resistance with which any questions were met, was therefore quite puzzling.
Investment Migration Insider spent weeks gathering as much data as possible, however, key information for several dozen of the 160 approved developments was not obtained. Therefore, a beta version of CBI Real Estate Watch was published, calling on readers to assist in filling the gaps in the dataset and suggest any applicable corrections. This helped to lower the number of developments for which data was missing down to just 35 out of 160, as well as adjust some of the listings which were incorrect.
At this point the two-week grace period has now ended, and Investment Migration Insider are now removing the ‘beta’ title. However, readers, agents and developers are still welcome to submit photos, corrections and any other updates to challenge a development’s status. However, CGI renderings are not accepted – only actual photos are accepted as proof.
This article contains an overview of the construction status of all Caribbean Citizenship by Investment real estate. As a legal disclaimer, readers are reminded that no guarantees surrounding the veracity or accuracy of the content on CBI Real Estate Watch can be made. The following data represent the information they have been able to gather. It is, however, the most comprehensive such dataset available to the best of our knowledge.
Totalling the overall performance of Caribbean Citizenship by Investment real estate
For the five available Caribbean citizenship by investment programs Antigua & Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia, the overall construction status is as follows:
- Completed: 50
- Partly completed: 6
- Under construction: 25
- Not started: 37
- On hold: 6
- Cancelled: 0
- No data: 35
- Plots only (considered completed): 1
Astons is a leading global immigration advisory firm with offices in London, Moscow, Dubai, Cyprus and China and offers residency & citizenship investment solutions in the UK, EU & the Caribbean.
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