Sponsored feature: Best Caribbean countries to obtain citizenship by investment

In our dynamic world, individuals increasingly pursue opportunities to safeguard their assets, freedoms, and security beyond their home nations.

Approximately 7 out of 10 billionaires have a second citizenship. Embracing global citizenship not only unlocks more opportunities but also catalyses economic growth and fosters stronger business connections among countries.

As a licensed agent specialising in assisting high-net-worth individuals, Immigrant Invest facilitates the acquisition of second passports or residence permits by investment.

Recently, we had the privilege of speaking with Zlata Erlach, who leads Immigrant Invest’s Austrian office, to explore the top Citizenship by Investment (CBI) programs of 2024 and the advantages they offer investors.

What’s a citizenship by investment program?

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Citizenship by investment, or a CBI program, as it is clear from the very name of it, offers individuals the opportunity to acquire citizenship in a foreign country by making an investment.

Importantly, a foreigner cannot ‘buy’ citizenship anywhere in the world. No nation issues a passport for a direct money transfer. If you come across a promising offer of a passport in a few months for a suspiciously cheap contribution, you are most likely dealing with scammers.

Typically, under real, government-approved CBI programs, investors contribute to the host country’s economy in the following ways:

– a non-refundable contribution;

– real estate purchases;

– fund investment.

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In return, investors gain access to the benefits and privileges of citizenship, including increased global mobility, expanded business opportunities, and enhanced personal security.

But before they can get access to it, investors undergo a strict Due Diligence process. This is to ensure the investor’s reliability and legality of their income.

Immigrant Invest has Compliance agents that conduct preliminary Due Diligence of our own. Owing to this, we can reduce the denial risk to 1%.

Along with the main applicant, a second passport can be obtained by their spouse, children, parents, and sometimes siblings. None of the applicants need to take any language or history exams to get their second citizenship.

Top 3 best Caribbean CBI programs according to Immigrant Invest

Five countries in the Caribbean offer citizenship by investment programs:

– Antigua and Barbuda,

– Dominica,

– Grenada,

– St Kitts and Nevis,

– St Lucia.

These programs vary in minimum investment, terms, and conditions. Here’s the best CBI program in the Caribbean according to Immigrant Invest.

#3 Grenada. The Grenada CBI program has been operating since 2013. Despite being relatively young, this program is one of the most popular ways to get second citizenship. To obtain Grenada citizenship, investors can opt for one of two investment pathways:

– a non-refundable contribution to the National Transformation Fund, starting from $150,000 for a single applicant or $200,000 for a family;

– government-approved real estate purchase, starting from $220,000; this investment can be recouped in 5 years.

Grenada’s citizenship program waives requirements such as language proficiency tests, history exams, or mandatory visits to the country for investors. The passport acquisition process is entirely remote.

Moreover, the program extends eligibility to family members, including spouses, children, parents, and siblings, facilitating their access to Grenadian passports.

#2 St Lucia. St Lucia’s citizenship by investment program is well-suited if maximising value at the lower investment is a priority. With a minimum investment of $100,000, applicants can select from five investment options:

– contributing to a state fund — $100,000;

– purchasing real estate — $200,000;

– purchasing government bonds — $300,000;

– investing in business ventures, including infrastructure projects — $1,000,000 to $1 million.

Investors have the option to recoup their investment in 5 years through bond redemption or real estate share sales.

The program streamlines the citizenship process, exempting investors from residence permits, residency requirements, or language tests. Moreover, the program extends citizenship eligibility to the investor’s spouse, children, parents, and, notably, siblings.

#1 St Kitts and Nevis. This country stands out for several reasons. Firstly, it offers a time-tested application process. As the oldest CBI program in the world, St Kitts and Nevis’s path to second citizenship is often considered the most convenient. Many investors would probably name it the most trusted program since it has been operating since 1984.

To obtain citizenship of St Kitts and Nevis, investors:

– contribute $250,000+ to a state fund or a public benefit unit;

– buy real estate for $400,000+.

Real estate investments in St Kitts and Nevis typically yield returns within 7 years. Notably, applicants for citizenship are not subjected to language proficiency tests or history exams.

The program boasts no residency obligations, neither before nor after acquiring citizenship, allowing investors to maintain their current lifestyle while enjoying the benefits of a second passport. Furthermore, it extends citizenship eligibility to the investor’s spouse, children, and parents, with the added benefit of hereditary citizenship.

Lastly, the country’s stable political environment and attractive investment opportunities make it an appealing destination for individuals seeking second citizenship.

What are the main benefits of citizenship by investment programs in the Caribbean?

CBI programs in the Caribbean offer several key benefits.

1. Global mobility. Caribbean citizenship grants access to visa-free or visa-on-arrival travel to numerous countries worldwide, enhancing personal and business mobility..

2. Financial diversification. Investors gain opportunities to diversify their investment portfolios by accessing real estate, government bonds, or other investment options in the Caribbean region.

3. Family security. CBI programs often extend citizenship eligibility to the investor’s immediate family members, including spouses, children, parents, and, in the case of St Lucia and Grenada, siblings, providing them with the same benefits and security.

4. Strategic residency options. Investors can secure alternative residency or citizenship options for themselves and their families, offering stability and security amidst geopolitical uncertainties.

5. Business opportunities. Caribbean citizenship facilitates access to new markets and business opportunities within the region, fostering economic growth and entrepreneurial ventures.

6. Tax benefits. Caribbean nations offer favourable tax regimes, including tax incentives or exemptions, to attract investors and residents, potentially leading to significant tax savings. To be more precise, St Kitts and Nevis tax residents do not pay taxes on dividends, interest or royalties. There is also no tax on wages, capital gains or inheritance.

7. Quality of life. Caribbean countries boast a high quality of life with picturesque landscapes, tropical climates, and vibrant cultures, offering investors and their families an attractive lifestyle.

How does Immigrant Invest help in obtaining citizenship by investment?

Immigrant Invest provides expert guidance throughout the entire citizenship application process, ensuring clients understand the requirements, options, and benefits associated with different investment pathways.

If an investor chooses to buy real estate, we help find a property suitable for getting a second passport. And if an investor opts for a fund investment, we consult on profitability and available options.

We assist clients in selecting the most suitable citizenship by investment program based on their personal preferences, financial capabilities, and long-term goals.

Our seasoned team of lawyers helps clients prepare and organise the necessary documentation required for the citizenship application, ensuring accuracy and completeness to expedite the process.

Our experts provide legal support and representation throughout the citizenship application process, ensuring compliance with all relevant laws and regulations.

Following approval, Immigrant Invest continues to support clients by assisting with passport issuance and renewal, relocation logistics, and any other post-citizenship needs or inquiries.

If you plan to obtain second citizenship, feel free to book a personal meeting with Immigrant Invest lawyers.