Attracting visitors by its mesmerizing beaches of finest white sand and deep blue waters, Antigua & Barbuda, is one of the largest English speaking leeward islands.It is the ninth largest country by size in Caribbean with a size of 442 square kilometers and a population of over 80,000. This country has an economic citizenship program because of which one can travel visa free to more than 100 countries.
Antigua & Barbuda offers dual citizenship, being advantageous for expansion of business and other tax benefits. Few other benefits are asfollows:
Antigua & Barbuda’s Citizenship by Investment Program was established in 2012. To qualify for citizenship applicants must fulfill one of the investment options below in addition to meeting the following criteria:
As of February 2016, Antigua & Barbuda is accepting Iranian applicantsAVAILABLE INVESTMENT OPTIONS ARE AS FOLLOWS:
The citizenship by investment program was adopted by government as one of the mechanisms to encourage economic growth, increase developments, promote foreign direct investment to the country, support the development of infrastructure and provide for a sustainable future. As a consequence, there are a variety of options for an investor to choose from.
1. National Development Fund Contribution or Charitable DonationHNIs have the option to make a monetary contribution of US$100,000 to the National Development Fund or to an approved charity.
2. Real Estate InvestmentApplicants can also invest in a property whose value should be atleast US$400,000 in a pre-approved real estate development area. Also, the investment must be maintained for a minimum of five years. An individual is also required to pay Property registration, processing fees and taxes.
3. Business EstablishmentApplicants can also make an investment of US$1.5 million for business establishment purpose. Two or more applicants may make a joint business investment with an individual threshold of at least US$400,000 and a total investment of at least US$5 million. ST. KITTS& NEVIS
One of the most breathtaking spot of Caribbean is St. Kitts& Nevis, a beautiful two-island blessed with tropical temperatures and clear blue waters. Investors now have the chance to enjoy its natural beauty, warm skies and white sandy beaches, due to the country’s CIP program.
This beautiful two-island is well-connected by direct flights to and from Europe and the U.S., and have many advantages to offer such as dual citizenship and tax-free worldwide income.
Benefits of St. Kitts & Nevis Citizenship by Investment Program:
It is one of the oldest citizenship by investment program in the world. The St. Kitts & Nevis (St. Christopher & Nevis) Citizenship by Investment Program was established in 1984 under the regulations of the 1984 Citizenship Act, Part II, Section 3 (5)
To acquire citizenship in St. Kitts & Nevis, applicants must at leastfulfill one of the investment requirements below in addition to the following criteria:
1. Sustainable Growth FundIn April 2018, Saint Kitts & Nevis launched a new permanent investment fund to replace the temporary Hurricane Relief Fund set up to address the devastation caused by the 2017 hurricanes in the Caribbean.
2. Real Estate Investments
A. Five-year hold periodApplicants may purchase government-approved property valued at a minimum of US$400,000, or purchase shares valued at the same minimum amount in a real estate development. The investment must be maintained for a minimum of five years.
B. Seven-year hold periodApplicants can make an investment of US$200,000 in a government-approved luxury resort. The investment must be maintained for a minimum of seven years. Investors are required to pay additional applicable taxes and fees in both the above-mentioned cases. Residency Program
There are two possibilities, either the recently implemented residency program can be an add-on to a citizenship by investment application or it can be a stand-alone route leading to an official tax residency status in Saint Kitts & Nevis. Applicants are required to spend a minimum of 2 non-consecutive months per year on the islands and must show a proof of local address either through a purchased property or a 1-year lease for a minimum of US$15,000 per year, to qualify. Also, the applicants processed earlier can also applyResidency Program fees: US$25,000: Tax residency card (yearly fee); US$10,000: Additional tax residency card for a dependent over 18 (yearly fee); US$50,000: Residency fee under the SIDF option; US$150,000: Residency fee as a stand-alone program. Residency fee is not applicable under the Real Estate investment option. SAINT LUCIA
Saint Lucia is a vibrant and an alluring place which offers all the tropical benefits of the region while maintaining its authenticity and exclusiveness. Saint Lucia has arguably the best-positioned citizenship by investment program in the Caribbean. The citizenship by investment board has made the program the most efficient for the investors by following only the best practices.
Dual citizenship is accepted by Saint Lucia, providing absolute advantage for the expansion of the business and relief from the taxes.
Some of the other benefits are as follows:
Saint Lucia’s Citizenship by Investment Program was established in 2015 under the regulations of the Citizenship by Investment Bill 2015, making it the most recent addition to the CIP programs in the Caribbean region.
Saint Lucia’s program is very well positioned for theglobal elite. It has happened because of limiting the application numbers and raising the overall net worth requirement. To qualify for citizenship in Saint Lucia, applicants must fulfill one of the investment requirements below in addition to the following criteria:
1. National Economic Fund ContributionHNIs may contribute monetarily to the NEF organization via one of the prescribed contribution levels. US$100,000: Single applicant. US$165,000: Main applicant with spouse. US$190,000: Family with up to 3 dependents (spouse + 2 children). US$25,000: Each additional dependent.
2. Real Estate InvestmentApplicants may invest in a property worth US$300,000 in a preapproved real estate development area. for at least 5 years the property must be maintained. It is mandatory to payProperty registration, processing fees in addition to the property purchase.
3. Government Bond InvestmentOnce approved, an applicant and the accompanying family members may choose to invest in Saint Lucia government bonds, which should be held for five years. The bond amount will vary depending on the size of the family. US$500,000: Single applicant. US$535,000: Main applicant and spouse. US$550,000: Family with up to 3 dependents (spouse + 2 children). US$25,000: Each additional dependent. The government bond option carries an administration fee of US$50,000 per application.
4. Enterprise Project InvestmentApplicants may also invest a minimum of US$3.5 million in an approved enterprise project and should create at least three jobs. To qualify, two applicants may share an investment of US$6 million and create at least six jobs. Approved enterprise projects must fall under one of the following categories: Specialty restaurants, cruise ports and marinas, agro-processing plants, pharmaceutical products, ports, bridges, roads and highways, research institutions and facilities, or offshore universities. GRENADA
Grenada is one of the most preferable destination for the High net investors because of its excellent restaurants, breathtakingly beautiful beaches and a calendar of unforgettable festivities. It is also popularly known as the spice island because of the spices that grow locally there. It also owns one of the most picturesque waterfronts in all the Caribbean.
Grenada accepts dual citizenship which means the current passports can still prove to be advantageous.
Following benefits are offered by the program:
The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. Grenada’s pilot scheme allows qualified investors and their family members to apply for citizenship and benefit from visa-free travel.
In recent years Grenada has seen tourism becoming the leading sector for foreign direct investments. offshore financial industry is another service sector on the rise. The Grenadian government is working closely with a select number of businesses related to tourism, agriculture and manufacturing to attract foreign direct investment. The government also hopes to create investment opportunities that will bring about sustainable employment through implementing the program.INVESTMENT OPTIONS
1. Real Estate Investmentone of the most viable options for foreign nationals is investment in a pre-approved real estate project because its economy is shifting from agriculture dominance to service- dominance.
2. National Transformation Fund DonationApplicants can donate a minimum of US$150,000 to Grenada’s National Transformation Fund. The minimum amount is for the main applicant only. For a family consisting of four people, the requirement is set at US$200,000. An extra donation of US$25,000 is required for each additional dependent.