Caribbean Citizenship by Investment Programs – the Most Competitive to Invest Overseas in 2022
With the world economy in shambles, many countries are looking for new sources of revenue. Investment citizenship programs are becoming increasingly popular among people looking to invest money overseas.
These programs allow investors to obtain residency or citizenship in exchange for capital. They are particularly attractive because they offer a quick and easy route to a second passport, which enables citizens to travel more freely than if they only had their native country’s passport.
Caribbean countries continue to lead the way in citizenship by investment
Citizenship by Investment programs remains a historic source of investment for some Caribbean countries.
Now, they are willing to continuously innovate and attract even more investors to their island nations.
Just recently, Saint Lucia repositioned its Citizenship Programme under a new slogan “Beyond the Passport”. When comparing the different schemes to get a second passport within the region, it’s possible to identify some unique characteristics of each of them.
And that brings increasing competition among them which ends up benefiting those who are seeking a second passport.
Which Caribbean countries are offering citizenship by investment?
There are five Caribbean countries offering citizenship through investment programs:
- St Kitts & Nevis
- St Lucia
- Antigua & Barbuda
In summary, citizenship applications for each program are either mostly through donations or real estate investment options. But they vary in some unique characteristics that each government implemented to attract a certain type(s) of investor(s).
The most competitive options among the different Caribbean citizenship by investment programs
Some programs require applicants to make large upfront investments while others do not. Others are more accessible when applying for a whole family, while others have fast-track options to get your citizenship in less than 2 months.
Dominica: cheapest route when applying solo
Dominica is one of the cheapest countries in the Caribbean to become a citizen. In fact, it’s the cheapest country in the entire world to become a citizen when applying alone.
There are some reasons why this scheme is becoming popular. First, it allows them to obtain citizenship without having to leave their home country. Second, it allows applicants a cheap route to a second passport.
But the unique factor and characteristic of their citizenship by investment program is the possibility for an individual to apply to be a Dominican citizen, by investing $100,000, which is the cheapest route for a single applicant in the entire world. To qualify for that route, the investor needs to make a contribution to their Economic Diversification Fund.
Also, it’s one of the strongest Caribbean passports offering visa-free travel to over 130 countries around the globe.
Antigua and Barbuda: citizenship for $25,000 per family member
There are several reasons why Antigua and Barbuda citizenship by investment program is such a great deal.
This is due to the fact that they offer the lowest cost option for a family of four compared to other nations. Breaking it down, it’s $25,000 for each of the four family members to acquire a second passport. Due to this unique feature, Antigua citizenship by investment is becoming increasingly popular among families.
And that passport unlocks visa-free travel to more than 130 countries, including the United Kingdom and the European Union.
Another reason why Antigua and Barbuda citizenship by investment is appealing is its stable democratic government with a British Parliamentary System. In addition, dual citizenship is recognized, and lifetime citizenship is protected.
Finally, the application and approval process only takes around 90 days.
St. Kitts and Nevis: fastest path to Caribbean citizenship
St. Kitts and Nevis incorporated a very competitive feature into its program. The possibility of becoming a citizen in less than 2 months!
That happens to be the main reason why St. Kitts and Nevis is the perfect place for investing. Such a unique fast-track application option allows investors to obtain a St Kitts and Nevis Passport within 45-60 days. But there are also other reasons why these islands are becoming popular for getting a second passport.
Its offshore banking and insurance services are second to none. The island nation also boasts a booming economy, a quality education system, and a friendly culture.
Will the Caribbean continue at the forefront of citizenship by investment?
There’s nothing wrong with buying citizenship. In fact, in the current global context, it makes sense. A second passport these days might be a valuable asset for individuals and families.
And these Caribbean countries have known that for decades.
They have been at the forefront of such types of investments, and are apparently willing to continue so.
By trying to innovate and attract even more investors through each of their schemes, they increase competition among them, but also with other countries worldwide offering such programs. The region might be opening a path for more and more countries that need other sources of investment for their local economies to evaluate such a path.
The main question now is whether or not there will be enough investors interested in acquiring citizenship from these countries, and if such unique characteristics are sustainable and can have a meaningful impact on the local economy.