We’re getting back to something approaching normal after a few chaotic and challenging years. With all the restrictions, many of us had to curtail our plans, but now there are new global possibilities.
With its white sandy beaches, glorious tropical weather, tax benefits, and good medical care, the Caribbean is an ideal location for those who want a laid-back lifestyle for at least part of the year. Having a Caribbean passport is also the key to unlocking visa-free travel all over the world and new business opportunities.
This article highlights some of the best opportunities in the Caribbean to grow your wealth and live the kind of life you deserve by building a global citizen strategy. Nomad Capitalist has helped 1,500+ high-net-worth clients from around the world. Find out how here.
There are several ways to gain Caribbean citizenship: marriage, naturalization, or investment. Unless you’re married to someone from the Caribbean or have lived there for an extended period, Citizenship By Investment (CBI) is the obvious route.
The investment amount required is generally USD$100,000, but you will pay no income tax in Antigua and Barbuda, The Cayman Islands, and St Kitts and Nevis, for example. Generally speaking, you will also pay no dividends, interest, and royalties taxes.
To become a naturalized citizen in the Caribbean, you must be resident there for a set number of years before you’re eligible. Citizenship by investment doesn’t work like that.
In most Caribbean nations that offer CBI, you need not even set foot there to get a passport. Of course, you might want to, as the Caribbean is a fantastic place to visit, but you don’t need to pack your bags and move there permanently.
Where To Plant Your Caribbean Flag
Planting flags is an integral part of going where you’re treated best. Having a passport from a country you don’t plan to live in can be beneficial. A passport through Caribbean Citizenship By Investment can be a cost-effective and enjoyable way to start planning your global citizen strategy.
1. Saint Lucia
Saint Lucia is a tropical paradise in the Eastern Caribbean, home to luxury resorts, volcanic beaches, reef-diving sites, and picturesque fishing villages. Its CBI is the least expensive in the Caribbean.
One of the newest CBI programs, several investment options include a one-time donation of $100,000, investing $300,000 in pre-approved real estate, or its National Action Bond (NAB).
As of January 2023, the NAB replaced a Covid-19 Relief Bond option. The only investment of its kind in the Caribbean, the NAB is a refundable government bond that costs $300,000, with a non-refundable admin fee of $50,000. The bond is held for five years and can include any number of dependents.
There’s also an enterprise project investment, by far the most complex option, with a minimum investment of $3,500,000 into an approved enterprise such as research, tourism, education, or agriculture. For more information, see our Ultimate Guide to St. Lucian Citizenship.
Grenada, which comprises a main island and smaller surrounding islands known as the Spice Isle, is known for its beaches, waterfalls, nutmeg plantations, and colorful Georgian buildings. As the southernmost of the windward islands, it’s located about 100 miles off the coast of Venezuela and a convenient four-hour flight from Miami.
The Grenada passport can be yours by either donation or the purchase of a pre-approved property. The donation for an individual is $150,000, and $200,000 for a family of four. The real estate investment option is more expensive, and you must hold the property for five years before selling.
The minimum property value is $220,000 – $350,000, depending on whether you’re a single or joint investor, plus a government-free $50,000 and another cost for due diligence and making the application.
A passport for Grenada offers visa-free travel to more than 135 countries, including the United Kingdom, Russia, and China.
For more information on this excellent passport opportunity with benefits to pass down citizenship to your posterity, check out our Ultimate Guide for Citizenship in Grenada.
Arguably the most beautiful Caribbean island, Dominica is known for its mountains, tropical rainforests, and volcanically heated hot springs. The official language is English.
Going through the naturalization process typically takes seven years, but as a faster route, you can get a Dominica passport by investing in real estate, by donation, or in an approved business.
For real estate, an investment of at least $200,000 is required. However, the simplest option is to make a donation, starting at $100,000 and increasing as you include a spouse or children. Another option is to invest a minimum of $50,000 in an approved government business or $100,000 in a business you are directly involved in.
A Dominica passport offers visa-free travel to 134 countries, including the EU, the UK, Russia, and most of Southeast Asia and Latin America. The country itself is arguably the most beautiful island. You can find out more in our Ultimate Guide for Dominican Citizenship.
4. Antigua and Barbuda
Antigua and Barbuda is an independent Commonwealth state that is made up of twin islands. It’s known for rainforests, reef-lined beaches, resorts, and yachting facilities.
Antigua and Barbuda is one of the cheapest options in the Caribbean for a family passport. You get citizenship for a spouse and two kids for the same investment price of $100,000 – plus fees of about $30,000 per person.
If you contribute $150,000 to the University of the West Indies Fund, including up to six applicants with a $15,000 fee for each additional family member is possible. This option entitles one family member to a one-year scholarship.
Other CBI routes include:
- A one-time payment of US$100,000 per application to a National Development Fund.
- Purchase property valued at least US$400,000 in an approved area or development project.
- An investment of US$1,500,000 in an approved business of at least $1,500,000.
- A minimum of two persons to make a joint investment totaling at least $5,000,000, each required to contribute $400,000 to the joint investment.
The Antiguan passport is one of the best in the Caribbean, with access to 142 countries visa-free. Read our Ultimate Guide for all the details.
Nomad Capitalist is a turnkey solution for offshore tax planning, dual citizenship, asset protection, and global diversification. Find out more here.