Comparison of Caribbean citizenship by investment programs

Choose the best-suited country for second citizenship by comparing:
• visa-free destinations and other passport benefits;
• requirements for applicants;
• investment options and associated expenses;
• time frames for obtaining a passport.

February 26, 2024
Reading Time: 10 min

What is Caribbean citizenship by investment?

​​Caribbean citizenship by investment refers to programs that allow high-net-worth individuals from anywhere in the world to acquire a second citizenship in select Caribbean countries. These countries include St Kitts and Nevis, Grenada, Antigua and Barbuda, St Lucia, and Dominica. A similar investment program is also offered in Vanuatu, Oceania.

Under these programs, investors can obtain a passport by contributing to the country's economy. The most common ways to do this include purchasing real estate and making a non-refundable contribution.

Obtaining a second passport in the Caribbean is not about “buying a passport.” Simply transferring funds won’t do since individuals must undergo a rigorous Due Diligence check first. During Due Diligence, investors are being checked against international databases.

Visa-free countries for Caribbean citizens

Investors often get Caribbean or Vanuatu citizenship to travel the world freely. That’s why cosmopolitans tend to choose the country whose passport provides the largest number of visa-free destinations or the most desired. 

Caribbean passports grant visa-free access to the Schengen Area, the UK, Hong Kong, and Singapore, although the allowed duration of stay varies.

In the Schengen Area, Caribbean citizens can stay for up to 90 days within a 180-day period. In the UK, they are permitted to stay for up to 180 days annually. However, it's worth noting that citizens of Dominica are an exception and must obtain a visa for entry into the UK.

Citizens of Grenada and Dominica can visit China and spend up to 30 days without a visa. 

Vanuatu citizens enjoy visa-free access to Hong Kong, Singapore, and 106 other countries and territories. However, they do require visas for entry into the Schengen Area and the UK.

Caribbean and Vanuatu passport comparison by the number of visa-free countries

Citizens of Caribbean countries or Vanuatu can get long-term visas for trips to the USA. Caribbean citizens qualify for a B-1/B-2 visitor visa valid for 10 years. Vanuatu nationals get the same visas, valid for 5 years.

Grenada citizenship stands out with the possibility of obtaining an E-2 business visa. The visa implies investments in a business in the USA. However, the minimum investment amount isn’t set; practice shows that $200,000 is usually enough. 

E-2 visa holders can live, study, do business, and work in the States. The first visa is valid for two years, but it can be renewed for the same two years an unlimited amount of times.

140+ visa-free countries for Caribbean citizens, a map

5 benefits of the Caribbean passport

Apart from visa-free travel, there are other advantages Caribbean citizenship offers.

1. Remote obtaining procedures. The investor doesn’t have to fly to the Caribbean to apply for citizenship as a licensed agent completes all the procedures on the investor’s behalf. The passport and naturalisation certificates will be sent to the investor by courier.

The exception is the St Kitts and Nevis’ program, which requires investors and all adult family members to obtain their naturalisation certificates in person. This can be accomplished either in St Kitts and Nevis or at the consulate.

2. Incentives for studying abroad. Caribbean countries are in the Commonwealth of Nations, which makes their citizens eligible for scholarships to study at universities in the member countries, including the UK.

3. Access to services of Caribbean, European and American banks. Saving assets and making currency transactions is easier with a Caribbean passport because its holders aren’t so frequently refused to open an account and pass Customer Due Diligence faster.

4. Opportunities to reduce the tax burden. Caribbean countries don’t tax global income, wealth, inheritance, gifts, and capital gains. Besides, individuals and businesses can benefit from deductions and tax holidays in some cases. 

5. Caribbean countries allow dual citizenship, which means you won’t have to give up your first passport to obtain a Caribbean one. However, the rule is valid only if your country of origin doesn’t mind its citizens having multiple citizenships. 

3 popular myths about Caribbean citizenship programs

1. You can buy a passport in the Caribbean — easy as pie. That's not true. Acquiring a passport by investment involves a multi-step process, with a crucial Due Diligence check. Additionally, Caribbean countries issue passports based on a naturalisation certificate, which is granted after the investor's application is approved.

2. I do not need a licensed agent — I can get a passport myself. It's a misconception to believe that you can obtain a passport without the assistance of a licensed agent. Under the government-approved citizenship by investment programs, foreigners are not allowed to apply independently. A licensed agent is required to guide applicants through every stage.

Immigrant Invest is a licensed agent of five Caribbean citizenship programs with its own Compliance Department. Compliance officers are able to check investors’ personal and financial history in order to reduce the denial risk to 1%.

3. I will need to reside in the Caribbean to qualify for a passport. There's a common myth that residing in the Caribbean is a requirement for passport eligibility. Fortunately, investors do not need to live in their second-citizenship countries. Only Antigua and Barbuda passport holders are typically required to visit the country for a total of 5 days within a 5-year period after obtaining citizenship.

Requirements for citizenship applicants

Investors can qualify for Caribbean or Vanuatu citizenship if they have legitimate income sources and no criminal records or grave illnesses.

Family members can also participate in the citizenship programs. An investor can include in the application a spouse, children, parents, and, sometimes, grandparents or siblings.

Relatives are called dependents; the investor pays for their participation.

Caribbean countries and Vanuatu set different requirements for family members. In some cases, there are age limits. In other cases, grandparents or siblings cannot participate. However, each program states that all family members except the spouse must financially depend on the investor. The dependency must be proved with documents.

Caribbean citizenship by investment comparison: requirements for family members

Family membersAntigua and BarbudaGrenadaDominicaSt LuciaSt Kitts and NevisVanuatu
SpouseYesYesYesYesYesYes
ChildrenYes
under 30
Yes
under 30
Yes
under 30
Yes
under 30
Yes
under 25
Yes
under 25
ParentsYes
over 55
YesYes
over 65
Yes
over 55
Yes
over 65
Yes
over 50
GrandparentsYes
over 55
NoYes
over 65
NoNoNo
SiblingsYesYes
over 18
NoYes
under 18
NoNo

Overview of available investment options

Caribbean and Vanuatu citizenship programs offer one or several investment options:

  • a non-refundable contribution to a state fund;
  • purchase of real estate;
  • buying government bonds;
  • investments in a business project.

Non-refundable contribution to a state fund. Every citizenship by investment program, a Caribbean one or Vanuatu’s, has the option of a fund contribution. The fund money goes to developing the economy, sustainable housing and infrastructure, green energy, healthcare, and education in the countries.

For individual applicants, the contribution amount typically stands at $100,000 or $150,000, with the exception of $250,000 in St Kitts and Nevis. However, this amount may increase when an investor includes family members in their citizenship application. The final contribution is determined by the number of applicants and their familial relationship to the primary investor.

The fund contribution is usually the least expensive option. However, its disadvantage is that the investor won’t ever be able to return the money. 

Fund contributions under the Caribbean and Vanuatu citizenship programs

CountryFund contribution for a single investorAdditional payments for family members
Dominica$100,000+ $50,000
For a spouse

+ $75,000
For up to three dependents

+ $25,000
Per additional dependent under 18, starting with the fifth applicant

+ $50,000
Per additional dependent over 18, starting with the fifth applicant
St Lucia$100,000+ $40,000 
For a spouse

+ $50,000
For a family of four

+ $15,000 — per child under 21 if a family includes more than 4 people
+ $25,000 — per child under 30, parent, or sibling
Antigua and Barbuda$100,000+ $25,000
Per dependent, starting with the fifth applicant
St Kitts and Nevis$250,000+$50,000
For a spouse

+$50,000
For up to four dependents

+ $50,000
Per child under 18, starting with the fifth applicant 

+ $75,000
Per dependent over 18, starting with the fifth applicant
Vanuatu$130,000+ $20,000
For a spouse

+ $15,000
Per additional dependent
Grenada$150,000+ $50,000
For a spouse or up to three dependents

+ $25,000
Per additional dependent, starting with the fifth applicant, except parents under 55 and siblings

+ $50,000
Per parent under 55

+ $75,000
Per sibling

Antigua and Barbuda also has a special offer for big families of six or more people. They can contribute to the University of the West Indies Fund and get a year of free education for one of the family members under 29.

The minimum contribution amount is $150,000. For each additional dependent, starting with the seventh applicant, the investor pays an additional $15,000. 

The university fund contribution requires fewer expenses from big families. Suppose a family of eight wants to get Antigua and Barbuda citizenship: spouses, two minor kids and four parents. They will contribute $180,000 to the University of the West Indies Fund. If they choose a state fund contribution, the expenses will increase to $215,000.

Real estate purchase. All five Caribbean countries offer investors the opportunity to sponsor real estate projects. Vanuatu doesn’t have this option.

Investing in real estate usually requires twice as much as under the contribution option. But in contrast with the fund contribution, the property investment amount doesn’t depend on the family composition. 

Investors can purchase a whole property in sole ownership or become shareholders in the construction of hotels, villas, and urban infrastructure. A share can be a part of a property, securities, or trust participation.

The investor can sell the property in 3—7 years and return the money.

Obtaining a Caribbean passport by purchasing real estate

CountryInvestment amountInvestment return horizon
Dominica$200,0003—5 years
Antigua and Barbuda$200,0005 years
St Kitts and Nevis$400,000
Government-approved real estate

$800,000
Approved Private Home
7 years
Grenada$220,0005 years
St Lucia$200,0005 years

Comparison of EU and Caribbean properties for investment

In Europe, high-net-worth individuals can get citizenship as investors as well. For example, in Malta, investors may apply for Malta citizenship for exceptional services by direct investment. The minimum investment is €690,000. 

To qualify for Maltese citizenship, investors need to fulfil three conditions:

  • contribute to the National Development and Social Fund of €600,000+.
  • donate €10,000.
  • rent real estate for 5 years for €16,000 annually or purchase one for €700,000.

Investors are able to obtain a residence permit in Europe. However, purchasing property in the European Union is multiple times more expensive than in the Caribbean. For example, to obtain a status in Greece, an investor needs at least €250,000 or €500,000, depending on the region.

Examples of investment properties in the Caribbean countries

Alternative ways to get a passport by investment. St Kitts and Nevis provides an investment option called the Public Good Investment Option, requiring a minimum investment of $250,000. Under this option, applicants invest in projects that have been officially designated as Approved Public Benefit initiatives.

St Lucia’s government bonds cost $300,000. The investments will be fully redeemed after 5 years of holding.

Government-approved business projects are available for investing in St Lucia and Antigua and Barbuda. The countries offer to support the pharmaceutical industry, restaurants, construction of cruise ports, marinas or roads. 

The amount of business investments in St Lucia is at least $3,500,000, and at least $1,500,000 in Antigua and Barbuda.

St Lucia citizenship by investment: government bonds
This is a certificate issued to investors who have purchased an interest-free government bond of St Lucia worth $250,000

Additional expenses: government and Due Diligence fees

Government fees usually include payments for citizenship applications and the processing of documents. Besides, applicants pay for the issuance of passports and naturalisation certificates. Some countries charge fees for application forms and delivery of documents.

Grenada is the only Caribbean country with an application fee of $1,500 per applicant. The passport fee is $250 to $500, except for Vanuatu and Dominica, which don’t have it. Three countries charge the fee for issuing a naturalisation certificate:

  • Vanuatu — $86 per applicant;
  • St Kitts and Nevis — $50 per applicant;
  • Dominica — $250 per applicant.

When transferring investment money, bank commissions may occur. They usually amount $200—400 per application.

A set of government forms for citizenship application costs $250 per applicant in Dominica. St Lucia sets a fee of $250 for forwarding documents; delivery of passports from Vanuatu is charged $3,500. 

The main fee is for application processing; its amount depends on the country and the number of family members in the application.

Application processing fees under Caribbean citizenship programs

CountryFee
Vanuatu$129
For a single applicant
St Kitts and Nevis$250
Per applicant
Dominica$1,000
Per family
Antigua and Barbuda$300 per passport
Grenada$1,500
Per applicant over 18

$500
Per applicant under 18
St Lucia$2,000
For the main applicant

+ $1,000
Per dependent

If an investor buys real estate, they usually pay a special fee, which depends on the number of family members in the citizenship application.

The only exception is Antigua and Barbuda, which doesn’t charge a fee for property purchases.

Fees when purchasing real estate in the Caribbean

CountryFees
St Kitts and Nevis$25,000
For a single investor

+ $15,000
For a spouse

+ $10,000
Per child under 16

+ $15,000
Per dependents over 16
Dominica$25,000 
For an investor

+ $10,000
For a married couple or a family of up to 4 people

+ $25,000
For a family of up to 6 people

+ $50,000
For a family of over 6 people
Grenada$50,000
For a single investor and a family of up to four people

+ $25,000
Per child or parent over 55, starting with the fifth applicant

+ $50,000
Per parent under 55, starting with the fifth family member in the application

+ $75,000
Per sibling, starting with the fifth family member in the application
St Lucia$30,000
For a single investor

+ $15,000
For a spouse

+ $5,000
Per dependant under 18

+ $10,000
Per dependant over 18 or additional family member, starting with the fifth applicant
Antigua and Barbuda$30,000
For a family up to four people

+ $15,000
Per family member, starting with the fifth one

Due Diligence is a crucial step in any citizenship by investment program. CBI Units make a well-rounded assessment of risks and applicants’ income sources and biographies.

The Due Diligence check is charged with a fee for participants of citizenship programs. The fee is paid before submitting documents to the CBI Unit for consideration. The charged amount depends on the number and age of family members.

The biggest fee for Due Diligence is charged in St Kitts and Nevis; the smallest one is in Vanuatu, where the CBI Unit checks all family members for a flat price irrespective of the family composition. 

There are fees for obligatory interviews in all five countries that provide CBI programs. The fee typically is not included in the Due Diligence fees unless stated differently and covers all family members in the application. Dominica, Grenada, St Lucia, and St Kitts and Nevis charge $1,000 for an interview. Antigua and Barbuda’s fee is $1,500.

Due Diligence fees in the Caribbean countries and Vanuatu

CountryFor an investorFor a spouseFor other family members
Vanuatu$5,000
Per application
Grenada$5,000$5,000$5,000
Per family member over 16
Dominica$7,500$4,000$4,000
Per family member over 16
St Kitts and Nevis$10,000$7,500$7,500
Per family member over 16
St Lucia$7,500$5,000$5,000
Per family member over 16
Antigua and Barbuda$7,500$7,500$2,000
Per family member aged 11 to 17

$4,000
Per family member over 18

Application process for the Caribbean passport obtainment

The preliminary stage before applying for citizenship includes selecting a licensed agent and preparing the required documents. It usually takes two to four weeks. After that, the licensed agent sends the documents for processing to the CBI Unit.

P2M
1 day
Selecting a licensed agent
Selecting a licensed agent

According to the terms of the Caribbean and Vanuatu citizenship programs, the investor cannot personally apply for participation in such a program. Only law or consulting companies with governmental licences may do that on the investor’s behalf.

Immigrant Invest is a licensed agent of the Caribbean citizenship programs and an official representative of the Vanuatu citizenship program.

1 day
Passing an agent’s preliminary Due Diligence check
Passing an agent’s preliminary Due Diligence check

A designated Compliance Department checks the investor’s background against international legal and business databases. It helps to see whether there is any risk of citizenship application denial.

The Immigrant Invest’s check takes one business day. At this point, only a client’s passport is required.

If the client successfully passes the preliminary check, Immigrant Invest offers to conclude an agreement to assist in obtaining citizenship. 

We will offer a solution if any “red flags” have been discovered. For example, to consider another program or prepare additional documents clarifying the situation.

2 to 4 weeks
Collecting and preparing documents
Collecting and preparing documents

The investor provides lawyers with the required personal and financial records. Namely:

  • a valid international passport;
  • a no criminal records certificate;
  • a birth certificate;
  • a certificate confirming the applicant’s marital status, e.g. a marriage or divorce certificate;
  • bank statements confirming the sufficient funds for investing and the legitimacy of income sources;
  • a health insurance policy.

This list may be incomplete as lawyers provide an individual one to each client depending on the chosen program, investment option and the number of participating family members.

For the lawyers’ part, they organise the translation and notarisation of all documents, fill in the citizenship application form and prepare the investor’s CV.

1 day
Applying for citizenship
Applying for citizenship

Lawyers upload the application and scans of documents on a program website, if applicable, and send the originals to the CBI Unit for consideration and Due Diligence.

After applying, documents are processed within three months on average in the Caribbean countries and within a month in Vanuatu. It is the time required to complete the Due Diligence check.

Comparison of time frames: how fast can an investor get a second passport?

When the application is approved in principle, the investor transfers money to a state fund or a developer’s escrow account. Investors usually have 60 or 90 days to fulfil the investment conditions.

The passport and naturalisation certificate are usually issued and delivered within two weeks after investing.

Second citizenship obtaining periods in the Caribbean countries and Vanuatu

CountryPassport obtaining period
Vanuatu1+ month
Antigua and Barbuda3+ months
Dominica3+ months
St Lucia4+ months
Grenada4+ months
St Kitts and Nevis6+ months

Which country to choose for second citizenship by investment?

All the countries provide similar CBI programs and rights. That’s why it’s better to consider the investor’s tasks and goals when choosing the best-suited option.

Antigua and Barbuda, Dominica or St Lucia — if the investor’s budget is limited. The countries offer to obtain citizenship by contributing $100,000.

Grenada and St Kitts and Nevis — to return the invested money in 5—7 years. The opportunity is valid under the real estate option. Besides, the property can be rented out during the ownership period to bring yields, and these islands are less vulnerable to natural disasters that can affect real estate. 

The St Kitts and Nevis passport provides the biggest number of visa-free destinations if you want to travel the world. Nevertheless, the majority of Caribbean countries extend visa-free access to the Schengen Area and the UK. It's worth noting that citizens of Dominica will now need to secure visas for the UK, while citizens of Vanuatu will require visas for both the UK and the Schengen Area.

Grenada or Dominica will suit you better if you are frequent to China, as they are the only Caribbean countries with visa-waiver agreements with this Asian state.

The Grenada passport makes it easier to move to and do business in the USA, as the country’s citizens are eligible for an E-2 business visa.

Vanuatu offers the fastest path to second citizenship, which will take about a month if time is a pressing issue. St Kitts and Nevis can consider your citizenship application within two months, but the expedited processing requires additional expenses.

Frequently asked questions

Which Caribbean countries offer citizenship by investment?

There are five countries in the Caribbean granting citizenship by investment. Those are Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia.

The minimum investment sum is $100,000 to $250,000, depending on the country. This sum implies a non-refundable contribution to a state fund for a single applicant.

How much does a Caribbean passport cost?

It depends on the chosen program, investment option and the number of family members in your citizenship application.

$100,000 is the minimum investment amount for a fund contribution in Antigua and Barbuda, Dominica and St Lucia. In St Kitts and Nevis, the same option requires at least $250,000. In Grenada, it is $150,000.

Investing in Caribbean real estate requires at least $200,000. Besides, St Lucia offers to purchase government bonds for $300,000.

Applicants also pay for Due Diligence, application processing, passport issuance, and naturalisation certificates.

Which is the best Caribbean citizenship by investment program?

It depends on your tasks and goals.

Antigua and Barbuda, St Lucia and Dominica may suit if your budget is limited. At the same time, St Kitts and Nevis and Grenada are more suitable for real estate investments, which allow for a return of the money in 5—7 years.

St Kitts and Nevis boasts the highest-ranked Caribbean passport, as recognized by Professional Wealth Management magazine. This passport offers access to the largest number of visa-free destinations among its Caribbean counterparts. It’s noteworthy, however, that only Grenada and Dominica have secured visa-waiver agreements with China.

Vanuatu, a small island nation in Oceania, offers the fastest path to citizenship. The country processes investors’ applications within a month or two. Caribbean countries usually take three to six months to do that.

Which Caribbean country is easiest to get citizenship?

Dominica offers one of the fastest and easiest ways to obtain a second passport; citizenship is granted in 3—6 months. The minimum investment amount is $100,000.

Another option is Antigua and Barbuda. There, investors can get a passport under the same conditions in 3—6 months.

A Vanuatu citizenship by investment program is considered the fastest and most convenient in the world. The passport is issued in 1—2 months for the investment of $130,000.

What is the cheapest Caribbean island to get citizenship?

The Caribbean nations with the most cost-effective citizenship-by-investment programs are Dominica, Antigua and Barbuda, and St Lucia.

The minimum investment amount needed to obtain a passport in the Caribbean is $100,000. However, when talking about the cheapest Caribbean citizenship, one should consider not only the investment amount but also associated costs, such as Due Diligence fees.

Which Caribbean countries offer dual citizenship?

Understanding the difference between dual citizenship and obtaining a second citizenship is essential. In the Caribbean, individuals can acquire second citizenship without the need to renounce their original passport.

Conversely, dual citizenship is contingent upon the specific agreements between the investor’s home country and the Caribbean nation offering the second citizenship. The feasibility of dual citizenship largely depends on whether the investor’s country of origin has established reciprocal agreements with Caribbean countries regarding citizenship status.

Which is the strongest Caribbean passport?

As per our Passport Index, the Caribbean’s most powerful passport is held by St Kitts and Nevis, granting visa-free access to 153 countries. This impressive number of visa-free destinations sets it apart as the top choice among Caribbean passports offering citizenship by investment programs.

Schedule a meeting

Let’s discuss the details

Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.

Zlata Erlach
Caribbean Investment Program Expert
Schedule a meeting
Prefer messengers? WhatsApp Telegram
Rate this article

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

Scroll to Top