Five countries providing Caribbean Citizenship by Investment Programs have recently increased the minimum investment threshold required to obtain citizenship. The changes are part of a Memorandum of Agreement (MoA) executed between five heads of governments of OECS territories operating Citizenship by Investment Programs (CPSs).
This decision was to create a unified standard that harmonizes investment levels and fosters consistency and transparency for prospective applicants.
With the new investment threshold, the Caribbean countries are taking proactive steps toward streamlining their CBI offerings and aligning them with best practices. It also serves as a valuable tool for promoting investor protection and ensuring applicants receive fair and equitable treatment across all participating countries.
Cost of Donation Option
To compare the costs of Caribbean Citizenship by Investment (CBI) programs for a family of four, here is a summary of the donation investment option for single applicants and a family of four, including all processing fees such as government fees and due diligence (excluding agency fees):
Comparison Between Programs
| Caribbean CBI Cost | ||
| Country | Donation for a single applicant | Donation for a family of 4 |
| Antigua & Barbuda | $277,000 | $277,000 |
| Dominica | $210,060 | $265,740 |
| Grenada | $244,420 | $258,530 |
| Saint Lucia | $250,000 | $258,000 |
| Saint Kitts & Nevis | $260,665 | $268,700 |
These figures are approximate and may vary depending on the individual application and do not include company fees.
Dominica offers the most affordable Citizenship by Investment (CBI) program for single applicants at $210,060, followed by Grenada, Saint Lucia, St. Kitts & Nevis, and Antigua & Barbuda. For a family of four, Grenada and Saint Lucia provide the cheapest option, followed by Dominica, St. Kitts & Nevis, and Antigua & Barbuda.
How to choose the best program for you
Picking the best CBI program depends on the investor’s priorities and circumstances. For Investors who have a limited budget, it is recommended to consider CBI programs offered by Dominica and Grenada.
However, if an investor needs to obtain a second citizenship urgently, it is recommended to consider St. Kitts & Nevis, which launched its CBI program in 1984, and applications can be processed in 2 months.
For investors who want to give their children high-quality education free of charge, it is recommended to consider Antigua and Barbuda’s CBI program.
A family of at least 6 applicants can apply by contributing $300,000 to the University of West Indies Fund, and in return one of the family members is allowed to study at the university for free for one year.
For applicants looking to obtain a business visa to the United States, it is advisable to consider Grenadian citizenship.
For investors seeking enhanced global mobility and visa-free access to a wide range of destinations, St. Kitts & Nevis’s Citizenship by Investment (CBI) program is highly recommended. It boasts one of the strongest passports in the Caribbean, allowing entry to 157 destinations without a visa. This is followed closely by Antigua and Barbuda with access to 154 destinations, Grenada and Saint Lucia each with access to 149 destinations, and Dominica with access to 143 destinations.
New Prices for all options
To provide more insight into the new price increases for each program, including the processing fees, we will discuss each Caribbean CBI program separately.
Antigua and Barbuda: Best route for families
The Antigua and Barbuda Citizenship by Investment Unit has announced the upcoming changes in the CBI program; however, it requested an additional 30 days to complete the necessary approval process. The new prices will enter into effect on August 2024.
| National Development Fund | University of West Indies Fund | Real estate investment |
| For a family of 1 to 4: $230,000 | $300,000 | $325,000 |
| For a family of 5 or more: $245,000 | ||
| Processing fees: $30,000 for a single applicant up to a family of 4Processing fees for a family of 5: $10,000 for each additional dependent | Processing fees included in the investment amount | |
Antigua and Barbuda provides the best Caribbean citizenship option for large families and exceptional value for a family of four. Applicants can enjoy numerous benefits, including visa-free access to over 150 destinations, including the UK and the Schengen area. Additionally, they can experience an outstanding tropical lifestyle with year-round sunshine.
Dominica: Best CBI program for four times
Dominica’s Citizenship by Investment Program also announced new regulations which include new thresholds for its donation option, and revised fees for its real estate investment option.
| Economic Diversification Fund | Real estate investment |
| Single applicant $200,000 | $200,000 |
| Government fees: main applicant $75,000 | |
| Main applicant with 3 dependents: $250,000 | Main applicant up to 3 dependents: $100,000 |
| Any additional dependent under 18 years: $25,000Any additional dependent above 18 years $40,000 | Any additional dependent under 18: $25,000Above 18: $40,000 |
Dominica’s CBI program is considered one of the most attractive programs and was ranked first by the CBI index. The application process for Dominica’s citizenship is simple and flexible, with no residency requirements or language tests. Investors can complete the entire process remotely. The program is quick taking between 3 to 4 months to be completed.
Grenada: A route to the US
Grenada Citizenship by Investment program becomes the region’s second to announce prices under the Caribbean Memorandum of Agreement framework and to implement them after St. Kitts & Nevis, which did so last year.
| National Transformation Fund (NTF) | Investment in approved real estate project |
| Single Applicant or a family of up to 4 –$235,000 | Family up to 4 $270,000 |
| Additional dependents –$25,000/$50,000 Siblings: $75,000Dependent parents under 55 years: $50,000 | Government contributions:Family up to 4: $50,000Additional dependents: $25,000Dependent parents or grandparents under 55 years: $50,000Dependent siblings: $75,000 |
Grenada is the only country in the Caribbean offering citizenship by investment program that holds an E-2 Visa treaty with the USA. This means that if you obtain Grenadian citizenship, you can apply for a US non-immigrant visa, providing an opportunity to relocate your family to the US. Grenada also offers visa-free access to China. It is and is considered the cheapest citizenship option in the Caribbean.
St. Lucia: Diverse investment options
The Citizenship by Investment Unit in St. Lucia announced significant changes to application fees effective in July 2024.
| National Economic Fund (USD) | Approved real estate project (USD) | Approved enterprise project |
| Applicant applying with up to 3 qualifying dependents $240,000Each additional qualifying dependent (under 18 years of age) $10,000Each additional qualifying dependent (above 18 years of age) $20,000Spouse of a citizen $35,000 | Applicant and any number of qualifying dependents $300,000 plus applicable administration fees | Applicant applying with up to 3 qualifying dependents$250,000 plus applicable administration fees |
Saint Lucia’s citizenship by investment program has a competitive edge over its Caribbean rivalries, providing diverse investment opportunities in approved enterprise projects, and in government bonds worth $300,000, which must be held for 5 years.
St. Kitts & Nevis: Longest Running Program
St. Kitts and Nevis has issued a memo announcing changing to its CIP with immediate effect. The new regulations include a reduced minimum investment threshold for the Sustainable Island State Contribution option. This announcement follows sweeping price changes announced by the other Caribbean CBI jurisdictions in recent weeks. St. Kitts and Nevis previously changed its pricing structure in July 2023 to align with reported EU demands. This reduction brings the St. Kitts and Nevis contribution threshold closer to the $200,000 price point recently adopted by other Caribbean CBI jurisdictions of Dominica, Grenada, and St. Lucia in line with the MoA.
| The Sustainable Island State Contribution (SISC) | Real Estate Investment | Public Benefit Option |
| Applicant applying with up to 3 qualifying dependents $250,000 | Developer’s Real Estate Investment: US$400,000 Private Real Estate Investment: US$400,000 (condominium/approved development share) US$800,000 (single-family dwelling) |
$250,000 |
| Due Diligence Fees:US$10,000 for the main applicantUS$7,500 for the spouse and each dependant aged 16 years or overApplication Processing Fee: US$250 per applicantCertificate of Registration Fee: US$50 per applicant | Due Diligence Fees:US$10,000 for the main applicantUS$7,500 for the spouse and each dependant aged 16 years or overApplication Processing Fee: US$250 per applicantCertificate of Registration Fee: US$50 per applicant | Due Diligence Fees:US$10,000 for the main applicantUS$7,500 for the spouse and each dependant aged 16 years or overApplication Processing Fee: US$250 per applicantCertificate of Registration Fee: US$50 per applicant |
| Post-Approval Fees applyMain applicant fees (waived for Public Benefit): US$25,000Spouse fee: US$15,000Dependant fee (under 18): US$10,000Dependant fee (18 or older): US$15,000 | Post-Approval Fees applySpouse fee: US$15,000Dependant fee (under 18): US$10,000Dependant fee (18 or older): US$15,000 |
In addition to obtaining a St. Kitts passport through the investment program, investors can enjoy the island’s sunny, mesmerizing beaches, a fast-growing economy, and a strong reputation in the global CBI marketplace. St. Kitts also offers quality offshore banking and insurance services, serves as a tax haven, and ensures financial privacy for offshore businesses.
SRO-No.-8-of-2024.-Commonwealth-of-Dominica-Citizenship-By-Investment-AmdNo.2-Reg.-2024-1
S.R.&O. 12 of 2024 Grenada Citizenship by Investment (Amendment) Regulations
CIP Saint Lucia – Changes in Qualifying Investments
Memo to Stakeholders re Programme Changes and Guidance on File Submission_26th June 2024