Citizenship by Investment Programmes (CIPs) addresses acquiring a country’s citizenship through investment in the country’s industry, market, or government bonds. St. Kitts and Nevis, and Dominica were the only countries offering reasonable and legitimate options for CIPs by the start of the 21st century. Following their successful strategies, a few countries (predominantly Caribbean countries) also started to offer competitive CIPs to attract capital worldwide.
Below are some of the countries offering the most popular CIPs for 2021.
1. St. Kitts and Nevis’s
Significant economies of this country are banking and services, tourism, and the light industry. There are two types of CIPs offered by the government:
- It is investing in a government-approved piece of real estate for a minimum of either USD 400,000 (held for five years) or a minimum of USD 200,000 in a part of the property, along with additional government fees that one must maintain for at least seven years. The government application fee charge is USD 50,000 for the principal applicant.
- Donations worth USD 150,000 in the country’s Sustainable Growth Fund.
The whole application process takes six months to be approved by the government.
Dominica is a member of the Commonwealth of Nations and is well known for its beautiful nature and agriculture, the country’s primary economic source.
The government of Dominica also offers two CIPs pretty similar to those provided by St. Kitts and Nevis:
- Investing a minimum of USD 200,000 in real estate and additional government fees for at least three years. This period is the shortest offered among Caribbean countries. If this real estate property is held for five years, it can be sold to another CIP applicant. The government application fee for the individual applicant is USD 25,000.
- A cash donation to the government’s Economic Diversification Fund worth a minimum of USD 100,000 for an individual.
The application process takes up to six months to be approved by the government.
3. Antigua And Barbuda
This country is another member of the Commonwealth of Nations, and its primary source of economy is tourism. The government of Antigua And Barbuda Offers four CIPs:
- Donations to the National Development Fund program cost a minimum of USD 130,000. This donation covers the principal applicant’s citizenship and three family members. For families of five or more, this amount rises to USD 260,000.
- Investing a minimum of USD 230,000 in real estate must be held for at least five years.
- Investing at least USD 1.5 million in a business project suggested by the Citizens By Investment Unit.
- Making a donation of USD 150,000 to the UWI Fund that offers passports for a family of six.
Grenada is an independent country with close ties with England and is best known for its vital tourism industry. The government of Grenada offers two CIPs:
- Investing at least USD 400,000 in real estate to acquire citizenship for the whole family (independent of the number of members),
- Donating worth USD 150,000 to the National Transformation Fund for obtaining citizenship for a family of four.
5. St. Lucia
St. Lucia is the newest country among Caribean jurisdictions offering CIPs. The government provides four options for obtaining the country’s citizenship:
- Donations to the National Economic Fund worth USD 100,000 for an individual applicant,
- A minimum investment of USD 300,000 in a piece of real estate held for at least five years,
- Investing at least USD 3.5 million in an enterprise project,
- Donating at least USD 500,000 in bonds held for at least five years.
Vanuatu started offering dual citizenship in 2014 and is well known for its tourism. Cattle ranching and fishing are the major contributors to this country’s economy. Vanuatu has adopted tax exemption policies on income, wealth, or inheritance. Only one CIP option is offered by the government, donating at least USD 130,000 for an individual. The citizenship approval after submitting the documents takes no longer than a month.