In 2024, the Caribbean citizenship by investment programs – the Caribbean Five – are undergoing unprecedented changes. Once the most affordable Plan B citizenship programs and options for a backup passport in the world, the Caribbean Five are changing the game.
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 sustainable initiatives
- Luxury that redefines status and lifestyle
- The best Plan B money can buy
In 2024 all of it was under attack by global forces because the Caribbean citizenship by investment programs [CIPs] are leveraged by HNW entrepreneurs, investors, and families for personal and financial empowerment – lifestyle security with enduring wealth capabilities.
Thus, access to the exclusive Caribbean Plan B is now changing forever – though short, the window of opportunity to capitalize on the Caribbean Five is still open.
Caribbean citizenship by investment programs – The global standard
The Caribbean and the investment migration industry are intimately linked – launching the world’s first program 40 years ago.
Since then, it has been a magnet for the investors seeking to elevate their self sovereignty, diversify their portfolios, and invest in lifestyle security.
Thus, it has not gone un-notice. For more than the past decade now, the powers that be – primarily the US and the EU commision – have been rigorously and aggressively targeting the investment migration industry with special interest towards the affordability of the Caribbean Five.
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 is the founding father of the investment migration industry; the first nation to create and implement a citizenship by investment program in 1984.
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.
The changes and updates that will occur in 2024 to the Caribbean citizenship by investment programs, will affect their price, not their advantages or benefits – they will remain the same, thus warranting a more detailed look into the Caribbean citizenship by investment programs and how they empower US, UK, South African, Canadian, and other global HNW investors.
The prices that follow are the current 2023 prices and will remain available until July 1, 2024 – at which point the universal minimum price for any of the Caribbean Five programs will increase to at least $200,000.
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.
A 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 – due to pressure from the US and EU. That same pressure is now ushering in a more changes that will alter the Caribbean Five forever.
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 $250,000 to access the global Platinum Standard of lifestyle security.
St. Kitts offers a zero-tax environment, Plan B passport as an alternative legal identity for travel, business, banking, etc., and can be reached by private jet from the US, UK, and Europe.
St. Kitts and Nevis is also one of only two of the Caribbean’s best options for crypto investors – due to crypto regulation and acceptability. None of the Caribbean Five programs accept crypto as a direct form of payment.
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/sustainability 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:
- Increasing local food production
- Transitioning to Green Energy
- Diversifying the economy
- Attracting and supporting sustainable industries
- Evolving the Creative Economy
- Recovering from the impacts of the COVID-19 pandemic
- 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 US, UK, and other global HNWIs looking for the best Plan B strategy available.
Antigua and Barbuda
Antigua and Barbuda remains – as of now – the most popular program in the world due to the fact it is the most affordable citizenship by investment program for families.
However, don’t let that affordability shade your perspective of the program.
Antigua and Barbuda offers a zero-tax environment, a 5-year investment hold, a historical commitment to ESG and Zero Waste, and streamlined processing with application approval typically in less than 6 months.
For families, Antigua and Barbuda is the best option – whereas the other Caribbean programs have a donation investment price that increases with the addition of family members, Antigua and Barbuda is the same price for the entire family.
And along with St. Kitts and Nevis, Antigua and Barbuda is the other great Caribbean option for cryptocurrency investors.
Investment threshold – $100,000 minimum required investment [includes family of four]
- 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 is to 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.
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 – and for thousands of global investors, it still is.
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 the standard, not the option.
St. Lucia offers a zero-tax environment, a 5-year investment hold, world-renowned yachting [Rodney Bay is the only IGY marina of the Caribbean Five], 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
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 opens 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 HNW entrepreneurs, investors and families, Grenada could be the best Caribbean CIP. option
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 privacy 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
Dominica
Technically a microstate, as it’s one of the smallest countries in the world, Dominica is still the fourth largest island in the Eastern Caribbean.
Known as the Caribbean’s ‘Nature Isle’, Dominica is the best option for HNW entrepreneurs, investors and families who are not only ESG-conscious but need the adventures of the outdoors as a daily element of their lifestyle.
Dominica’s ESG/sustainability 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
Now is the time to invest in the Caribbean
The clock is ticking for some investors in regards to accessing the Caribbean citizenship by investment programs.
Currently, with a starting price of only $100,000 for a family of four, the Caribbean programs are the most accessible citizenship programs in the world.
However, in March 2024, under pressure from the EU, a collective agreement was signed to change that.
The Caribbean Five countries have signed a collective agreement to increase investment requirements to at least $200,000 “no later than 30 June 2024”
Applications submitted prior to July 1 will keep the current program prices and requirements.
Astons – Officially licensed partner of the Caribbean Five
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 satisfy the needs, wants, goals, and demands of every HNW investor.
In 2023, major changes hit the investment migration industry around the world – Vanuatu, Portugal, and Cyprus – and the ripple effects of those are impacting the rest of the industry.
Now in 2024, it is happening again:
- Spain has announced the end of its Golden Visa
- Hungary has postponed its real estate option in its Golden Visa
- Greece will be increasing its investment prices from €250K & €500K to €400K & €800K on September 1 2024
Only time will tell what happens next – but the next changes will only impact investors who failed to capitalize on the current window of opportunity.
Schedule your Free Confidential & Comprehensive Consultation with Astons today and let our team of seasoned industry insiders assist you in determining which investment migration solution is the best for your family
Frequently Asked Questions
Can I take out a mortgage for any Caribbean real estate option?
No, investors cannot use a mortgage for any of the real estate investment options.
An investor wishing to leverage the real estate investment option of any of the Caribbean programs must establish that the funds are pre-existing in their bank account prior to the application being approved.
Each investor has to prove the source of funds – documents can include bank statements, business registration documents, tax declarations, dividends, real estate sale, brokerage account statements, salary, employment contacts, etc.
Can I take out a bank loan to use as investment funds for any Caribbean CIP?
Is a crypto-backed loan [BTC-backed loan] permitted for investment funds in any Caribbean program?
Can I use cryptocurrency as a direct investment for any Caribbean program?
I have an old criminal conviction, will that conviction prevent me from being approved for all the Caribbean CIPs?
