New Minimum Investment Levels for Caribbean Citizenship by Investment Programs

In a significant development for the Caribbean citizenship by investment landscape, four of the five nations offering these programs agreed to increase their minimum contribution levels. On March 20th, Antigua & Barbuda, Dominica, and St Kitts & Nevis signed a Memorandum of Agreement to raise the minimum investment required to qualify for citizenship to at least USD 200,000. This change was to be implemented by June 30th, 2024.  

Although Saint Lucia did not initially sign the pact, they joined on June 3rd, committing to the same changes within the same timeframe.

As of now, all the new program minimums have been officially implemented and are effective immediately, with the exception of Antigua & Barbuda, which has requested a 30-day extension to pass the necessary legislation through their government.

It is worth noting that St Kitts & Nevis had already unilaterally increased their investment levels in 2023, so no further changes were necessary for their program. The new minimum levels for the citizenship by investment (CBI) programs are as follows:

Antigua & Barbuda

• USD 230,000 minimum donation for a family of up to four applicants.

• USD 325,000 minimum investment into government-approved real estate.

Dominica

• USD 200,000 minimum donation for a single applicant.

• USD 200,000 minimum investment into government-approved real estate.

Grenada

• USD 235,000 minimum donation for a family of up to four applicants.

• USD 270,000 minimum investment into government-approved real estate.

Saint Lucia

• USD 240,000 minimum donation for a family of up to four applicants.

• USD 300,000 minimum investment into government-approved real estate.

• USD 300,000 minimum investment into government bonds.

St Kitts & Nevis

• USD 235,000 minimum donation for a single applicant.

• USD 400,000 minimum investment into government-approved real estate.

Additional Costs and Fees

It is important to note that the figures quoted above are the minimum investment levels and do not include processing and government fees, which vary from program to program and depend on the number of family members included in the application.

Why Increase Minimum Investment Levels?

The decision to increase the minimum investment levels is likely aimed at maintaining the integrity and value of the CBI programs, which have been a significant source of revenue for these nations. Higher investment thresholds can help ensure that applicants are committed to contributing meaningfully to the local economy, while also aligning the programs more closely with international standards.

Benefits of Citizenship by Investment Programs

For those interested in retiring in the Caribbean, these CBI programs offer an attractive path to obtaining a second citizenship. The global residence index often highlights these countries as favourable destinations due to their quick processing times and the benefits of having a Caribbean passport.

As the Caribbean nations continue to refine their CBI programs, prospective applicants should stay informed about these changes and consider the long-term benefits of investing in these opportunities. With the new investment thresholds in place, these programs remain attractive options for those seeking second citizenship and the benefits it brings, including visa-free travel to numerous countries and potential tax advantages.

If you have any questions or would like to request specific factsheets on the countries mentioned, please feel free to email me Matthew Green, Head of Citizenship & Residency by Investment at matthewgreen@melbournecapitalgroup.com. Stay informed and take the next step towards securing your future with a second citizenship.  

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