Peaceful island nations grant passports granting access to numerous international destinations, increasingly attracting American travelers en masse.
Boom in Caribbean Citizenship-by-Investment Programs
The Caribbean has become a global hotspot for citizenship-by-investment (CBI) programs, with Antigua and Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia offering second citizenship with benefits including global mobility, favourable tax regimes, and family inclusion.
Antigua and Barbuda
Investors can contribute to the National Development Fund starting at $230,000 or make a minimum $300,000 investment in government-approved real estate, held for 5 years. A 5-day visit to the island is required within 5 years. The program offers visa-free travel to 148-151 countries including EU Schengen, UK, China, and Russia. Other benefits include no personal income, capital gains, wealth, or inheritance taxes, dual citizenship allowed, and no language or residency visit during processing.
Dominica
With an investment starting at $200,000, either through the Economic Diversification Fund or real estate investment, Dominica offers a fast and affordable route to second citizenship. The program requires no residency and offers visa-free/visa-on-arrival to approximately 140 countries, including the Schengen zone.
Grenada
Grenada's CBI program offers a unique benefit: eligibility for the U.S. E-2 investor visa. Typically requiring a minimum contribution to the National Transformation Fund or investment in government-approved real estate, Grenada is a popular choice for Americans and Canadians seeking a 'Plan B passport' for relocation or retirement.
Saint Kitts and Nevis
Contributions to the Sustainable Growth Fund starting around $250,000 or real estate investment with minimums around $200,000-$400,000 make Saint Kitts and Nevis an attractive option for investors. The program, the longest-running CBI in the world since 1984, offers visa-free travel to about 158 countries, dual citizenship allowed, family members included, and no language or exam requirements.
Saint Lucia
Investors in Saint Lucia can choose from contributing $240,000 to the National Economic Fund, investing in government-approved real estate of $300,000, or purchasing fully refundable government bonds of $300,000 (refundable after 5 years). The program offers no inheritance, gift, or capital gains tax, strong due diligence and governance, family inclusion, and visa-free travel to over 140 countries.
These programs provide visa-free travel, tax advantages, family coverage, and lack of stringent residency or language requirements, making them attractive paths to second citizenship in the Caribbean. However, the European Union and the United States have issued warnings about the potential for passports to be handed out too easily, especially to individuals who may be hiding, laundering money, or avoiding the law.
In recent years, some buyers have used the properties as rental investments, earning anywhere from $400 to $1,000 a night. In response, the five Caribbean nations agreed to tighten their rules, raise minimum investment amounts, and improve background checks in 2024.
Grenada, where many Americans and Canadians are flocking for investment properties, is a major exporter of nutmeg and has many new builds since Hurricane Ivan wiped out 90 percent of the island's homes in 2004. Buyers must keep the property for five years and spend at least five days on the island during that time. Brimstone Hill Fortress in Saint Kitts & Nevis, one of the areas with a hot real estate market, is home to many older sugar plantations being repurposed as real estate. St. Lucia is one of the places where expats can get a Caribbean passport for buying a home.
[1] Investment Migration Insider. (2023). Caribbean Citizenship by Investment Programs. Retrieved from https://www.investmentmigrationinsider.com/en/caribbean
[2] CS Global Partners. (2023). Caribbean Citizenship by Investment Programs. Retrieved from https://www.csglobalpartners.com/caribbean
[3] Henley & Partners. (2023). Caribbean Citizenship by Investment Programs. Retrieved from https://www.henleyglobal.com/citizenship/caribbean
[4] Arton Capital. (2023). Caribbean Citizenship by Investment Programs. Retrieved from https://www.artoncapital.com/caribbean
[5] Passport Index. (2023). Caribbean Citizenship by Investment Programs. Retrieved from https://passportindex.org/by-investment/
