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Caribbean’s CBI Programs

 

Grenada – Citizenship by Investment Program

Grenada has expanded the definition of a dependent to include the following:

  • Age 18+ unmarried and childless siblings of the principal applicant and spouse (additional fees apply)
  • Parents of the principal applicant or spouse, under age 55, who are fully dependent on the principal applicant and spouse (additional fees apply)
  • Babies born to the principal applicant and spouse within 1 year of citizenship issuance to the principal applicant

As of April 1, 2019, two investors may share ownership of a unit in a Tourism Accommodation approved project, and invest USD $220,000 each (for a total investment of USD $440,000 in the unit). $350,000 Investment if individual. Investment to be kept for 5 years.

In additional, Grenada access for its citizens to the USA E2 treaty investor visa.

Grenada has no foreign income, wealth, gift or inheritance or capital gain tax. Grenada is the only Caribbean country that allows citizenship to be passed along to investors’ future spouses and children.  There is no residency, language, education, or interview requirement, and both cash and real estate investment options are available.  Due to banking restrictions, citizens of Iran are no longer eligible to apply.

There is no requirement to visit Grenada to obtain your citizenship.

 

Dominica – Economic Citizenship Program

Citizens of Dominica may travel visa-free to all the countries of the European Union, Hong Kong, and the U.K. 

On Feb.3/20, the Dominica Government implemented the following small changes to its processing:

  • A world check / pre-screening due diligence check (for the principal applicant) is now required at file submission.  This check must be conducted by a reputable due diligence company, and will confirm that the applicant is not on any watch lists.
  • Applicants must not have been refused a visa by a country with which Dominica has a visa-waiver agreement (e.g. the Schengen area, or the U.K.).
  • Clients of Iran, Sudan, or North Korea nationality will only be accepted if:
    • they have lived outside that country for at least 10 years; and
    • they do not have substantial assets in that country; and
    • they have not performed any business activity in that country.
  • The investment and due diligence fees must be transferred directly to the Dominica Government’s bank account, from the principal applicant’s bank account.  If a third party is remitting the funds, an explanation must be provided, and “Know Your Client” banking protocols must be followed.

So, an applicant of Iranian nationality could apply if he/she provided a detailed source of funds showing that the funds were earned in another country (and funds must be transferred from that other country).  E.g., an Iranian living and doing business in Dubai for 10+ years could apply if the funds were transferred from Dubai and shown to originate wholly in Dubai.

Required investment $200,000 for real estate and hold for 3 years

Children below 31 can be considered if they are studying as a dependent

 

 

St. Kitts – Citizenship by Investment Program

St. Kitts’ citizens may travel visa-free to all countries of the European Union, Hong Kong, and the U.K.  The St. Kitts program offers both real estate and cash investment options, and there is no residency, language, or interview requirement.  The program is now stating a 60-day processing time frame.

Two investors may now jointly purchase a property for 7 years, and invest minimum USD $200,000 each (for a total investment of min. USD $400,000 in the property) in a government approved real estate.  Citizens of Afghanistan, Iran, and North Korea are not eligible to apply.

Antigua – Citizenship by Investment Program

The pricing for the real estate and investment options has been extended, and no longer has an expiry date.  That is, 2 related principal applicants may jointly purchase a USD $400,000 real estate project (so invest $200,000 each). Hold for 5 years.

An Antigua passport allows visa-free travel to many countries worldwide, including the U.K., the European Union, Hong Kong, Russia, India, Bolivia, and Kosovo.  Antigua is in discussions with the UAE and China to allow visa-free access to those countries as well.  Antigua has implemented a simplified passport-renewal process (once passports expire in 5 years).

Iranians are eligible to apply as long as they have permanent residence status in Canada, the U.K., Australia, New Zealand, the USA, Saudi Arabia, or the UAE, have resided outside Iran for at least 10 years, and maintain no economic ties to Iran.

Saint Lucia – Citizenship by Investment Program

Citizens of Saint Lucia may travel visa-free to the European Union, Hong Kong, and the U.K.  Government processing times are approximately 4 months and real estate investments start at $300,000. Hold for 5 years. Alternatively, invest at least $500,000 in government bonds for 5 years. ($50,000 govt admin fee)

Iranians citizens are no longer able to apply (regardless of their current country of residence), due to problems conducting due diligence checks, and banking restrictions.