Comparison of Citizenship by Investment Programs in the Caribbean

In 2023, the Caribbean citizenship by investment programs underwent unprecedented changes – a momentum that may be moving throughout the region. Astons expert Alena Lesina compares the best Caribbean CIPs for sophisticated investors to leverage before it is too late.

For centuries, the Caribbean has been a secret asset that European monarchs and global industry titans have possessed, leveraged, and vowed to keep control of. 

In the 21st century, much of why the Caribbean played a critical role in the development of our modern global economy persists:

• Unparalleled tax havens
• Seemingly limitless natural resources
• Strategic location
• Offshore banking hubs
• Incredible degrees of confidentiality
• Political stability
• A determined commitment to ESG initiatives
• Luxury that redefines status and lifestyle
• The best Plan B money can buy

In 2023 all of it was under attack by global forces because these citizenship-by-investment programs [CIPs] are being leveraged by global sophisticated investors and HNWIs for personal and financial empowerment – lifestyle security with enduring wealth capabilities.

Thus, access to the exclusive Caribbean Plan B may be changing forever – but as of now, there are still lucrative options to capitalize on.

The best Caribbean citizenship by investment programs

For nearly the past decade, the powers that be have been rigorously and aggressively targeting the investment migration industry.

Why?

The investment migration industry is founded upon empowering the citizen – via the human rights of mobility and identity – to partner with sovereign governments in a way that supports and benefits both the citizen investor and the local community of the host nation.

The Caribbean is the origin story of the citizenship by investment program and, by default, the investment migration industry.

St. Kitts and Nevis was the first nation to create and implement a citizenship by investment program – nearly 40 years ago. 

To this day, the St. Kitts and Nevis citizenship by investment program is considered to be the global Platinum Standard for CIPs. 

Since the launching of the St. Kitts and Nevis CIP, four other Caribbean nations have officially implemented their own – equally impressive and lucrative – citizenship by investment programs.

Given the changes and updates that occurred in 2023 to the Caribbean citizenship by investment programs, here is an updated and detailed look into the Caribbean CIPs and how they can benefit US and global HNWIs.

St. Kitts and Nevis

The founding father of the investment migration industry, St. Kitts and Nevis is still the Platinum Standard for citizenship by investment. 

An island federation of two islands, St. Kitts is home to some of the Caribbean’s most impressive natural resources and luxury developments. 

Nevis hosts one of the western hemisphere’s most advantageous offshore banking hubs and business environments where confidentiality is a standard operating procedure – and the local currency is pegged to the US dollar.

The original citizenship by investment program, St. Kitts and Nevis made significant updates and changes to their global sought-after program in 2023.

The biggest change that the St. Kitts and Nevis CIP underwent was the required minimum investment – it doubled.

Previously sitting at only $125,000 USD, as of August 2023, it now requires a minimum of a quarter of a million US dollars to access the global Platinum Standard of lifestyle security.

St. Kitts offers a zero-tax environment, blood right citizenship that passes on for generations, and can be reached by private jet and only in 3-hours from the US east coast. 

While St. Kitts and Nevis tend to be the #1 choice that satisfies nearly every HNWI’s needs, wants, and demands, St. Kitts and Nevis is also one of two of the Caribbean’s best options for crypto investors. 

The St. Kitts and Nevis CIP:

Investment threshold – $250,000 minimum required investment

• ESG Option – Sustainable Island State Contribution [SISC]
  • Single/main applicant = $250,000
  • Main applicant + spouse = $300,000
  • Main applicant + spouse + 2 eligible dependents = $350,000
  • Each additional minor dependent = $50,000
  • Each additional adult dependent = $75,000
• Real Estate Investment options – 
  • Hotel shares – $400,000
  • Private/traditional home ownership
    • Condominiums -$400,000
    • Single-family homes – $800,000
• Approved Public Benefit Project option – 
  • Minimum investment – $250,000
  • A project by an Approved Public Benefactor

St. Kitts and Nevis have always made ESG initiatives a cornerstone of the federation’s regional and global responsibility. The 2023 changes elevated the nation’s ESG commitment to an entirely new level. 

The updated CIP replaced the old Sustainable Growth Fund with the new ESG-focused Sustainable Island State Contribution [SISC].

ESG-conscious investors can direct their investment funds into the country’s seven pillars of sustainability:

1. Increasing local food production
2. Transitioning to Green Energy
3. Diversifying the economy
4. Attracting and supporting sustainable industries
5. Evolving the Creative Economy
6. Recovering from the impacts of the COVID-19 pandemic
7. Expanding social protection and safety nets to protect the most vulnerable

Even with these new updates, the St. Kitts and Nevis citizenship by investment program remains a top contender for ESG-conscious investors and US and global HNWIs looking for the best Plan B.

Learn more about the St. Kitts and Nevis citizenship by investment program. 

Antigua and Barbuda

Antigua and Barbuda remains – as of now – one of the most affordable citizenship by investment programs in the world. 

However, don’t let that affordability shade your perspective of the program.

To be honest, it is genuinely very surprising that Antigua and Barbuda has not made the move to increase their CIP investment minimum – considering the benefits of the program.

Antigua and Barbuda offer a zero-tax environment, a 5-year investment hold, a historical commitment to ESG and Zero Waste, and streamlined processing with application approval in only 4-6 months. 

For larger families, Antigua and Barbuda is the best option currently available. And along with St. Kitts and Nevis, Antigua and Barbuda is the other great Caribbean option for cryptocurrency investors. 

The Antigua and Barbuda CIP:

Investment threshold – $100,000 minimum required investment

• ESG Option(1) – National Development Fund [NDF]
  • Single/main applicant = $100,000
  • Main applicant + spouse = $100,000
  • Main applicant + spouse + 2 eligible dependents = $100,000
• ESG Option(2) – University of the West Indies [UWI] Fund
  • Main applicant + 5 dependents = $150,000
  • Each additional dependent = $15,000
• Real Estate Investment options – primarily hotel shares – 
  • Joint investors – $200,000
  • Single investor – $400,000
• Business Investment -$1,500,000

The Antigua and Barbuda citizenship by investment program is one of the few Caribbean CIPs that offers a business investment option. 

The investor can create and establish a new enterprise or invest the required funding into an existing enterprise. 

If the investor chooses to invest alone, the required minimum investment threshold is $1,500,00 USD.

However, if the investment will be made as a joint venture of 2 or more investors, the required minimum is $5,000,000, with each investor contributing a minimum of $400,000.

Learn more about the Antigua and Barbuda citizenship by investment program. 

St. Lucia

Among the most storied islands in the Caribbean, St. Lucia maintains its historic ambience while firmly grasping the luxuries of the modern era.

St. Lucia was hailed as the Gateway to the New World. Not only is St. Lucia, the only nation on Earth named for a real-life historical female, it is the product of a real pirate story.

The pirate known as Peg-Leg Le Clerc founded the island in the mid-16th century as his base and stronghold.

To this day, St. Lucia is a treasure of the Caribbean for confidentiality in personal and financial affairs, a proactive business environment, and quality of life – where luxury is not an option.   

St. Lucia offers a zero-tax environment, a 5-year investment hold, world-renowned yachting, and streamlined processing with application approval in only 4-6 months. 

The St. Lucia CIP:

Investment threshold – $100,000 minimum required investment

• ESG Option – National Economic Fund [NEF]
  • Single/main applicant = $100,000
  • Main applicant + spouse = $140,000
  • Main applicant + spouse + 2 children/dependents = $150,000
  • Each additional child/dependent = $15,000
  • Additional eligible add-ons [i.e. parents] = $25,000
• Real Estate Investment options – primarily hotel shares –
  • Single investor only – $200,000
• Government Bond Investment
  • Five-year investment hold – $300,000

Learn more about the St. Lucia citizenship by investment program.

Grenada

Arguably the most basic citizenship by investment program in the world, there is good reason for Grenada to keep its program simple – it’s a privilege to carry the status of being a Grenadian.

Grenadian citizenship is the only one among the five Caribbean programs that open up access to the coveted United States E-2 visa program. In 2023, the US approved almost 55,000 E-2 visa applications, and Grenada citizens were included in the 16% of approvals from non-European, non-Asian, and non-LATAM nations.

Thus, for non-US HNWIs and investors, Grenada could be the best Caribbean CIP.

The only element of Grenada that has a longer history of stability than its political environment is its economy.

Pegged to the US dollar, the Grenadian economy and banking system offers FDIC protections, social and political security, and extensive offshore banking options.

Grenada offers a zero-tax environment, a 5-year investment hold, unmatched underwater beauty, and streamlined processing with application approval in as little as 6-10 months. 

The Grenada CIP:

Investment threshold – $150,000 minimum required investment

• ESG Option – National Transformation Fund [NTF]
  • Single/main applicant = $150,000
  • Main applicant + spouse = $200,000
  • Main applicant + spouse + 2 eligible dependents = $200,000
  • Each additional dependent = $25,000
• Real Estate Investment options – primarily hotel shares –
  • Single investor only – $220,000

Learn more about the Grenada citizenship by investment program.

Dominica 

Technically a dwarf state, as it’s one of the smallest countries in the world, Dominica is the fourth largest island in the Eastern Caribbean.

Known as the Caribbean’s ‘Nature Isle’, Dominica is the best option for investors and HNWIs who are not only ESG-conscious but need the adventures of the outdoors as a daily element of their lifestyle.

Dominica’s ESG option has been a staple of the island nation’s development for nearly three decades. Citizenship by investment funding has contributed to building schools, upgrading hospitals and the healthcare infrastructure, as well as other critical projects.

In 2019, Dominica began financing state-of-the-art developments that would transform the island into the world’s first hurricane-proof nation.

The Dominica CIP:

Investment threshold – $100,000 minimum required investment

• ESG Option – Economic Diversification Fund [EDF]
  • Main applicant = $100,000
  • Main applicant + spouse = $150,000
  • Main applicant + spouse + 2 eligible dependents = $175,000
• Real Estate Investment options – primarily hotel shares –
  • Single investor only – $200,000

Learn more about the Dominica citizenship by investment program.

Why now is the time to invest in the Caribbean

The Caribbean countries have signed a collective agreement to increase investment requirements to at least $200,000 “no later than 30 June 2024”

The world of investment migration – citizenship by investment and the Golden Visa – spans the globe. 

From Europe, the EU, Oceania, and the Caribbean, there is an option that will more than satisfy every need, want, and demand of every HNWI investor.

And 2023 has seen major changes in investment migration around the world – Vanuatu, Portugal, and Greece – and the ripple effects of those hit the Caribbean.

Only time will tell what happens next.

Having said that though, what happens next could exactly be what investors calculate – especially for sophisticated investors who leverage the real estate options that are the foundation of CIPs.

Investors who had the insight to invest in St. Kitts and Nevis before August 2023 were able to buy into the real estate shares at $200,000.

Now, for investors to leverage the real estate option, the required minimum investment they need to pony up is $400,000.

Per the program rules, the pre-Aug 2023 investors will still have an option – working with the developers – to sell their shares back into the program for future investors to buy as well.

So, are Caribbean citizenship by investment programs one of the best investment, asset diversification, and lifestyle security / Plan B options in the world today?

Sorry, but it’s that sort of information only Astons’ elite clientele are privy to.

Schedule your Free Consultation with Astons now to discuss which investment migration option is the best way to address and satisfy all of your wants, needs, and demands.

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