Caribbean citizenship programs occupy one of the leading positions in the industry, thanks to streamlined processing and remote procedures for submitting and reviewing applications. Since citizens of most Caribbean countries have a visa-free agreement with the European Union, the programs are always under the close attention of EU parliamentarians. We have already written that the European Union even made a number of demands for Caribbean programs this year. In this article we talk about the current situation using the example of three countries.
Caribbean citizenship is offered for two main types of investment. Either this is a non-refundable contribution to the government fund, or the purchase of a share in a branded hotel under construction.
According to the existing rules, an application for Caribbean citizenship by investment can only be submitted through a licensed agent. Such as Apex Capital Partners.
Which Caribbean citizenship requires an interview?
In the summer of 2023, most of the local Citizenship by Investment programs introduced interviews with candidates. Such as Dominica, Saint Lucia, Saint Kitts and Nevis and Grenada. Antigua and Barbuda is the only country in the region that has NOT yet introduced a mandatory interview into the procedure for obtaining citizenship by investment.
Caribbean citizenship. Grenada
In the first three quarters of 2023, Grenada received investment through its citizenship program, exceeding its 2022 results. In this regard, the Grenada Citizenship by Investment Unit (CIU), taking into account the increased number of applications in the late August 2023, made a special statement about processing time etc. So, from August 29th, 2023, the Turn-Around-Time (TAT) for the issuing of Application Receipt Letters is 72 working hours.
Investment options
Without doubt, Grenada has a lot to be that much popular at the moment. For example, they have two 5-star branded hotels being built via Citizenship by Investment program. All shares in the Six Senses La Sagesse hotel are completely sold out and construction is close to completion. Opening appointment for February 2024.
The second high-profile project in Grenada under the citizenship by investment program is InterContinental Grenada. You can still buy a share in this project for US$220,000 to gain Caribbean citizenship. The construction of a 5-star luxury hotel with 150 rooms began in June 2022 on the territory of La Sagesse beach at a distance of approximately 30 minutes from the Maurice Bishop International Airport and the town of St. George’s.
For obtaining citizenship of Grenada applicant also may transfer donation to the government fund. That would be US$200,000 for a family of 4.
Mandatory interview
More information about mandatory interview since the 4th of September 2023 for applicants via link. The target Interview fee for all applicants seventeen (17) years and over will be US$1,000.
Caribbean citizenship. Antigua and Barbuda
Investment options
One of the features of the Antigua program is the ability to include several generations of a family in the application, even the applicant’s unmarried siblings. The minimum investment is $100,000 (non-refundable contribution to the government fund). Or you can invest in a branded 5* hotel. For example, in luxurious Hodges Bay where bespoke residences are meticulously designed to make you feel at home. Full property in the Hodges Bay project from US$450 000.
NO Mandatory interview
Caribbean citizenship. St Lucia
Investment options
St Lucia’s CIP has the uniqie bond option for US$300,000. It is a 5-year return on investment with a bonus — you can include any number of dependent family members in the application. That is quite convenient comparing to previous ranged track (before 1st of January 2023), where number the number of years depended on the number of people in the application. Regarding this option non-refundable administration fees has been reduced to USD 50,000 only doesn’t matter how many dependents investor will include in the file. Spouses, children under 30 and parents over 55 can be included in the application.
Investors may also choose as an option Donation to the National Economic Fund of at least USD 100,000, depending on the number of dependents to get Saint Lucia citizenship.
Mandatory interview
Applicants must undergo an interview in person or virtually. Effective since September 1st, 2023.
Caribbean industry shows major trends of transparency, security, and experience that you will need to succeed as an investor. APEX will provide professional legal support and prepare all necessary documents following all stages step-by-step until investor obtains the Caribbean citizenship by investments.
