The Caribbean citizenship-by-investment programs are highly attractive for American investors. With simple application processes, the potential for tax savings, and enhanced global mobility, a Caribbean passport offers a range of practical benefits under investment routes including Grenada economic citizenship.
Lyle Julien, Investment Programs Expert at Immigrant Invest, will help to understand Caribbean passport benefits for Americans and which option aligns with their investment goals.
What are the benefits of Caribbean citizenship for Americans?
Caribbean citizenship provides global mobility and financial advantages. One of the main reasons US investors consider Caribbean citizenship is the ability to travel visa-free to many countries, including Schengen Area.
Also, these programs offer significant tax advantages. Most Caribbean nations with citizenship-by-investment (CBI) programs have no capital gains, inheritance, or wealth taxes, which is particularly attractive to investors looking to protect their assets.
Dual citizenship is permitted, allowing US citizens to hold multiple passports. This can be especially beneficial for those seeking greater flexibility in travel and investment, without giving up their US nationality.
5 Caribbean countries stand out with their citizenship-by-investment programs. Each offers slightly different benefits in terms of cost, investment options, and global mobility. Let’s explore them in detail.
St Lucia
St Lucia passport by investment offers flexibility in investment choices. US investors can either make a $240,000 donation to the National Economic Fund, invest in real estate starting from $300,000, or purchase government bonds starting at $300,000. One unique feature is St Lucia’s government bond option, which is not commonly offered by other Caribbean nations.
There is no requirement to reside in St Lucia, providing added flexibility for busy investors.
Antigua and Barbuda
Antigua and Barbuda offer affordable investment options and family inclusivity. The minimum investment starts at $230,000 through the National Development Fund (NDF). Another option includes real estate investments starting from $300,000.
One of the key advantages of Antigua and Barbuda is that it allows investors to include up to four family members under a single application for a flat fee, making it a cost-effective option for families.
Grenada
The investment options are flexible. You can either contribute $235,000 to the National Transformation Fund (NTF) or invest at least $270,000 in approved real estate projects.
Grenada has no residency requirement, meaning you are not obliged to live in the country after obtaining citizenship. Grenada also offers visa-free travel to many, making it attractive to business people with global interests.
Dominica
Dominica offers one of the most affordable and straightforward citizenship programs. The minimum contribution starts at $200,000 for a single applicant. Real estate investments also begin at $200,000, with the option to resell the property after a few years.
Dominica’s CBI program is ideal for eco-conscious investors. Known as the “Nature Isle of the Caribbean,” Dominica emphasises eco-tourism and green investment projects. There’s no requirement to reside in Dominica before or after acquiring citizenship.
St Kitts and Nevis
St Kitts and Nevis offer one of the longest-established citizenship-by-investment programs in the world. Established in 1984, it is known for its stability and reliability. The minimum contribution to the Sustainable Growth Fund starts at $250,000 for a single applicant. Real estate investment starts at $325,000, with the ability to resell after seven years.
St Kitts and Nevis passport holders enjoy extensive global mobility, making it an attractive option for frequent travellers and businesspeople.
How to apply for Caribbean second citizenship as a US citizen
The application process for Caribbean citizenship is straightforward. US investors typically work through authorised agents to handle the process. This involves several key steps:
- Choose your investment option. Decide whether you prefer to invest in government funds, real estate, or other eligible projects. Each country has specific requirements, so select the one that aligns with your financial goals.
- Prepare your documentation. You will need to submit personal documents, including proof of identity, clean criminal record, and financial information to demonstrate the source of your investment.
- Submit the application. After gathering the necessary documents and selecting an authorised agent, you will submit your application for review. This includes paying the required due diligence fees and processing fees.
- Receive approval and make the investment. Once your application is approved, you will proceed with the investment. This might involve transferring funds to a government account or completing a property purchase.
- Obtain citizenship and passport. After the investment is finalised, you will receive your certificate of citizenship and can apply for a passport.
The obtaining process usually takes between 6 to 8 months.
Conclusion
Caribbean citizenship offers a strategic advantage for US investors. Whether you’re looking for visa-free travel or tax relief, the Caribbean has a program to suit your needs. By selecting the right country, whether it’s Antigua and Barbuda, Grenada, Dominica, St Lucia, or St Kitts and Nevis, you can gain global mobility, financial security, and a second passport with minimal residency requirements.
