Five Eastern Caribbean nations — Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia — are attracting increasing numbers of investors through their citizenship-by-investment (CBI) programs. These schemes allow individuals to obtain citizenship and a passport in exchange for investments starting at $200,000.
These programs are among the fastest CBI programs in the world, as one can get a Caribbean passport within six months. The obtaining procedure is remote; the investor doesn’t have to visit the country to obtain a second citizenship by investment.
The passports issued under these programs grant visa-free access to around 150 countries, including Europe’s Schengen area and, with the exception of Dominica, the United Kingdom. Investors can also retain their original citizenship while benefiting from the Caribbean nations’ tax advantages, such as no capital gains or inheritance taxes.
In recent months, demand has surged, particularly from U.S. citizens concerned about political and social instability at home. Applications to Caribbean CBI programs have increased by 12% since late 2024. Other frequent applicants come from countries including Ukraine, Turkey, Nigeria, and China.
While the programs require no residency, some buyers are choosing to relocate permanently. Real estate purchases remain the most common investment route, with Antigua recently raising its minimum property investment requirement from $200,000 to $300,000. Alternative options include donations to national development funds.
The CBI programs have become vital sources of revenue for these small economies, accounting for up to 30% of GDP in some cases. Funds generated have supported infrastructure development, healthcare facilities, and recovery efforts after natural disasters.
However, the schemes have drawn international scrutiny. The European Union is reviewing whether the programs pose security risks or abuse visa-free travel agreements. The U.S. has also voiced concerns about the potential for misuse in money laundering or tax evasion.
In response, the five nations have introduced stricter oversight measures, such as enhanced applicant due diligence, mandatory interviews, regular audits, and the creation of a regional regulator. These steps aim to safeguard the programs’ integrity while maintaining their economic benefits.
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