Five dream holiday destinations in the Caribbean are offering a tempting deal to wealthy expats: invest in a home and receive a second passport in return.
Antigua and Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia have become global hotspots for citizenship-by-investment (CBI) programs.
These schemes promise dual nationality to individuals who purchase approved real estate, starting at USD $200,000 (£149,688).
In return, buyers are issued with a Caribbean passport that can unlock visa-free access to over 150 countries, including the UK and the EU’s Schengen Zone.
What’s more, there are no residency requirements, no language tests, and, in some cases, no income or inheritance taxes. Applications are also often processed in less than 90 days.
One Canadian investor, Robert Taylor, plans to retire later this year in Antigua, where his new home awaits him.
Speaking to the BBC, he said: ‘I chose Antigua because it has beautiful water, I find the people very, very friendly and it also means great weather for the later part of my life.’
But while the offer of visa-free travel and a new home in the tropics seems all too tempting, experts warn there’s more to the story.
Antigua and Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia have become global hotspots for citizenship-by-investment (CBI) programs (Pictured: St John’s Antigua)
These schemes promise dual nationality to individuals who purchase approved real estate, starting at USD $200,000 (£149,688) (Pictured: Downtown Charlestown, the capital of Nevis in the Federation of St Kitts and Nevis)
In return, buyers are issued with a Caribbean passport that can unlock visa-free access to over 150 countries, including the UK and the EU’s Schengen Zone
In recent years, programs such as citizenship-by-investment (CBI) have come under pressure, as reported by Stuff.
The European Union and the United States have warned that passports should not be handed out too easily – especially to people who may be hiding or laundering money, or avoiding the law.
As a result, these five Caribbean nations agreed in 2024 to tighten their rules, raise minimum investment amounts and improve background checks.
Some countries are even revoking passports from people found to have lied or failed checks – as Dominica did with 68 individuals recently, according to Global Citizen Solutions.
There are also delays in applications, with some prospective buyers waiting up to a year for a chance to purchase a home in Saint Lucia.
