If you’re seeking a retirement haven, or simply a new lifestyle, in the Caribbean, citizenship by investment programs (CIPs) are usually the quickest, most straightforward ways to accomplish this.
These kinds of programs are especially popular in the Caribbean and in Latin America. They are growing in popularity among high net worth families and individuals, and it’s easy to see why. A CIP offers a way to achieve the goal of making your dream vacation permanent while still pulling in income on the side. What’s not to love about that? Even better, these programs offer a way to achieve this goal within a matter of months. Here are the Caribbean countries with the best CIP opportunities in 2018.
What do you look for in your citizenship program? What about in your citizenship itself? It’s likely that St. Lucia meets your criteria for both. It’s a tropical Eastern Caribbean Island with a high earning population, high safety and plenty of landscape to enjoy and views to admire. It’s really got everything – even an easy, straightforward CIP.
The overall approval process for the CIP takes an average of three months. Once that three months is up, and you’ve received notice of your qualification, you can make the required minimum donation into the investment vehicle you’ve chosen and then you’re granted a Certificate of Citizenship – just like that!
The process itself requires a background check and clean bill of health, along with a donation to any of the following investment vehicles:
- St. Lucia Economical Fund
- Government Bonds
- Real Estate Projects
- Enterprise Project
St. Kitts and Nevis
St. Kitts and Nevis is one nation, made up of two small islands. The government of this country wishes to encourage foreign investment and growth of its economy through its own citizen by investment program.
This program requires that individuals who qualify have a high net worth and can invest in the following ways:
- Real estate investment of at least $400,000 USD – this investment must be kept for at least five years before citizenship is granted.
- Donation to the Sugar Industry Diversification Foundation. The amounts vary depending on your family status:
- $250,000 USD for a single applicant
- $300,000 USD for up to three dependents
- $350,000 USD for up to five dependents
- $450,000 USD for up to seven dependents
- $50,000 USD for every dependent after that
St. Kitts and Nevis offer a great program, with citizenship guaranteeing visa-free entry to over 100 other countries, but as you can see your investment options are a bit more limited. For this program, you also must pass a background check – as with most others. The process takes about six months, and this country’s program is not only among the cheapest of the ones available, but it’s also the oldest of its kind.
Dominica has a visa offer, called the golden visa, for those who can make an investment toward residency in the country. This CIP offers a much-sought-after second citizenship for those who qualify, and that passport can be available in four to six months. It doesn’t even require any visits to the country! Even better, the Dominica program is THE cheapest in the world – requiring an investment of only $100,000 USD. You don’t have to make this investment right away – you can start by investing a portion and then submitting the remaining portion after approval. Approval would grant immediate citizenship.
Antigua and Barbuda
The Antigua and Barbuda CIP offers both citizenship and a second passport as well. There are three approved investment vehicles for this application, and to be eligible, you’ll have to choose one of the three:
- Paying a minimum of $200,000 USD into the National Development Fund of Antigua and Barbuda
- Making a real estate investment following the Citizenship by Investment Unit guidelines
- Making a business investment according to the Unit’s guidelines.
As with any of these programs, there are both processing and due diligence fees applied to any type of investment route chosen.
What makes Antigua and Barbuda so appealing to so many is that it’s made up of a chain of 365 islands and clear beaches. It is a haven for sailboat and scuba diving enthusiasts.
Of the most popular CIP’s out there, the one offered by St. Lucia offers the most when it comes to options for the form you’d prefer your investments to take. It also offers visa-free access to the largest number of countries and has the most appealing timespan for the wait time for approval. Of course, any of these options would be great, depending on what exactly suits you best for the new lifestyle you’re seeking!