Five Eastern Caribbean nations, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia, are offering citizenship to real estate investors, with minimum investments starting at $200,000. These Citizenship by Investment (CBI) programmes grant visa-free access to up to 150 countries, including the EU and UK (Dominica excluded), and exempt citizens from taxes such as capital gains, inheritance, and in some cases, income tax.
The schemes are especially attractive to high-net-worth individuals seeking global mobility without renouncing their existing nationality, according to a report by BBC.
Uptick in demand from American buyers
In Antigua, the surge in CBI demand has been striking. “Up to 70% of all buyers right now want citizenship, and the vast majority are from the US,” said Nadia Dyson, who runs the real estate firm Luxury Locations. “This time last year, it was all lifestyle buyers and a few CBI. Now they’re all saying ‘I want a house with citizenship’. We’ve never sold so many before.”
While these programmes do not require physical residency, some buyers are choosing to relocate. For most, however, it’s about securing a contingency plan.
‘Insurance passport’ amid political uncertainty
Data from Henley & Partners, a leading investment migration firm, shows that Americans now account for the largest share of applicants across the Caribbean CBI programmes, followed by nationals from Ukraine, Turkey, Nigeria and China.
Dominic Volek of Henley & Partners said, “Around 10-15% actually relocate. For most it’s an insurance policy against whatever they’re concerned about. Having a second citizenship is a good back-up plan.” He added that many Americans use these “politically-benign passports” for business or personal security, especially following the COVID-19 pandemic and post-election uncertainties.
Programmes face political and international scrutiny
Not everyone is convinced. Gisele Isaac, former Speaker of the House in Antigua, recalled public backlash when the programmes were launched. “There was a sense of nationalism; people felt we were selling our identity, so to speak, to people who knew nothing about us.”
St Vincent and the Grenadines’ Prime Minister Ralph Gonsalves has also criticised the concept, saying citizenship “should not be a commodity for sale.”
The European Union is now assessing whether the CBI schemes undermine its visa-free arrangement with these countries. A European Commission spokesperson said a review is underway to examine potential “abuse” or security risks.
Reforms agreed with US
In response to concerns, the five Caribbean nations signed a six-point framework with the United States. It includes stricter vetting, mandatory applicant interviews, annual audits, and closing loopholes that allowed denied applicants to apply in another country.
Despite criticism, leaders say the programmes are key to their economies. Dominica’s Prime Minister Roosevelt Skerrit called it a “sound and transparent” system, claiming it has raised over $1 billion since 1993. Antigua’s Prime Minister Gaston Browne said passport income pulled the nation from “the brink of bankruptcy.” St Lucia’s PM Philip J Pierre added that his government enforces “the highest standards of security.”
How much does Caribbean citizenship cost?
Applicants can invest in real estate or contribute to government funds. Contribution options start at $200,000 for a single applicant in Dominica and go up to $250,000 for families. In Antigua, a $260,000 donation to the University of the West Indies also qualifies. No relocation is required, making these schemes a popular route for global investors seeking travel freedom and financial safety nets.