Are you interested in obtaining Caribbean citizenship? Real estate investment may be the answer. Read our guide to learn about the process and benefits of investing in the Caribbean.
Investing in Real Estate to Obtain Citizenship in the Caribbean: Why Are Caribbean CBI Options so Popular?
Obtaining citizenship in the Caribbean countries has become a popular practice among wealthy individuals. Five Caribbean countries host CBI - Citizenship by Investment programs, Antigua and Barbuda, Dominica, St. Lucia, Grenada, and St Kitts and Nevis.
Most investors choose Caribbean countries as their second country of citizenship due to the numerous benefits, including traveling freely around the world. One of the Caribbean passports allows dual citizens to travel visa-free or with a visa on arrival to more than 140 countries. Pretty impressive, huh?
In this article, we’ll understand why these programs are so popular with a detailed view of the benefits and the process on how to become a citizen. Let’s check them out!
Which Countries Offer Dual Citizenship?
As we mentioned earlier, five Caribbean countries offer CBI programs. Caribbean citizenship by investment programs enable individuals to invest in these countries, either in real estate or a direct contribution to a government fund. Below you can learn more about the investment programs and the differences in each country.
St. Kitts and Nevis
St. Kitts and Nevis fosters the oldest CBI program in the world. It has been present on the market since 1984 and has helped investors legally obtain a Caribbean passport. The minimum investment in the St. Kitts citizenship by investment program is $150,000.
The benefits of the St. Kitts passport include:
a fair tax regime, with no taxes on capital gains, inheritance, gifts, or foreign income;
citizenship for life;
the right to work and live in St Kitts;
share citizenship with your family and future generations.
The investment options are:
Investing in real estate;
Making a donation to the SGF - Sustainable Growth Fund;
Via purchase of a private home;
Opting for an alternative investment option.
The main applicant will be required to pay $25,000 in application fees and an additional amount for every family member over the age of 16. The application process usually takes 60 days from the submission of the application.
The Dominican CBI program was launched in 1993 and has been ranked in the first place by the CBI Index. For the investors who meet the citizenship requirements, the idyllic island awaits them. Dominica is a stable country, both in terms of politics and economics, and has substantially low crime rates.
Applicants can contribute to the EDF - Economic Diversification Fund or invest in real estate, with a minimum investment of $200,000.
St. Lucia’s CBI program was launched in 2016 and has various investment options:
A single donation to the National Economic Fund - NEF;
Investing in real estate - minimum of $300,000;
Investing in an enterprise project and government bonds.
Antigua And Barbuda
This celestial Caribbean country launched its program in 2013 and developed a scheme that grants investors citizenship for an economic donation. The investment options are:
Donation to the National Development Fund;
Investing in real estate, a minimum investment of $200,000;
Investment in the University of the West Indies Fund.
Grenada is known as the “spice island” and a favorite among investors. It has a re-launched and restructured CBI program that fosters a couple of investment options:
Donation to the National Transformation Fund;
Investment in real estate - independent and joint investment.
Why Are Caribbean CBI Options so Popular?
Caribbean Citizenship by Investment (CBI) options have become increasingly popular in recent years because they offer several benefits to those seeking a second citizenship. Some of the reasons why Caribbean CBI options are popular include:
Boost Of Security
A second passport is often a sense of personal security. Caribbean citizenship will provide high security for you and your family. With the latest sustainability measures for growing food and investing in the green energy sectors, the Caribbean countries are well in advance for citizenship for families.
In addition to these opportunities, the Caribbean countries allow business owners to expand their apertures and take advantage of new business opportunities. The Caribbean citizenship programs bring closer the international elite to the wealthy individuals who spend their time in the Caribbean so they can do business face-to-face.
Most of the Caribbean countries have developed financial services, and many international banks have their branches there. Second citizenship in a Caribbean country is a key component in preserving your wealth and protecting your privacy.
Your Family Can Get It
Family members can apply for dual citizenship as codependents in the application process of the main applicant. This means you can secure a better future for your family and descendants where the relatives can get access to better health care and education systems.
A Cheaper Option
Another reason why investors choose the Caribbean countries for their dual nationality is the cost. And these countries offer better investment options and lower costs in obtaining a second passport.