Citizenship by Investment Programs (CIPs) provide foreign nationals an opportunity to obtain second citizenship in a fast-track process for the country of her or his choosing. While all CIPs are intended for high-net worth and ultra high-net worth individuals (HNWIs & UHNWIs) looking to invest in a future abroad, CIP options for the Caribbean generally require lower investment amounts by comparison to programs in European countries. Benefits of having dual citizenship in the Caribbean include visa-free travel to more than 100 countries around the world (with the exception of the Dominican Republic), as well as offering qualified applicants the opportunity to expand their business investments overseas or even purchase real estate property.
For families looking to relocate or simply have more travel freedom, the Caribbean is an ideal and affordable choice.
How do I get started?
The first step in applying for Caribbean Citizenship by Investment Programs is to become familiar with the countries that offer investment opportunities for foreign nationals. Our qualified team members at QICMS will help you explore program options for investment immigration in Antigua and Barbuda, Grenada, Saint Kitts and Nevis, Dominica, Saint Lucia, and the Dominican Republic.
Each of the Citizenship by Investment Programs are designed to not only provide added benefits of a second citizenship and passport for applicants and their immediate family, but contribute to the overall growth and stability of a country’s economy.
As discussed in our previous blog, there are many practical reasons people choose the Caribbean as a home away from home. Aside from a Caribbean “paradise,” many CIPs are financially affordable and provide both a safe and friendly living environment for applicants and their families.
What is the application process for Caribbean citizenship programs?
Normally, applicants fill out an assessment form to determine whether or not they are financially able to proceed with applying. This step is necessary as all programs require a minimum investment in a country’s economy, whether it is a donation to a fund, or an investment in real estate or business.
Individuals who qualify for Citizenship by Investment Programs are designated as the main or primary applicant. If initial requirements are met, a candidate’s immediate family is also eligible for citizenship, which includes the applicant’s spouse, dependent children, and for some programs parents, and even grandparents. All eligible family members undergo government examinations prior to being granted citizenship to the country of interest.
Once an application is complete, it is sent to an Authorized Agent by a local immigration consultant or immigration lawyer, whose role is to guide his or her client through each step of the application process. With the help of an immigration consultant or immigration lawyer, applicants will fill out necessary immigration forms as well as provide documents that include birth and marriage certificates, medical records, and police clearance certificates.
Once all forms and documents have been prepared for submission, applicants are required to pay all outstanding due diligence, processing, and government fees. The finalized application is then submitted to the country’s Citizenship by Investment Unit (CBIU) by the Authorized Agent, where it will undergo a thorough due diligence background check by an independent third party. A report from the independent review is then submitted to the CBIU, and upon evaluation, a committee will provide a recommendation concerning whether or not citizenship should be granted to the applicant and family members. The final determination of awarding citizenship is made at the discretion of the CBIU.
If the application is successful, the CBIU will issue a letter with instructions on how to complete the program’s required investment. Upon proof of investment, an official approval letter will be submitted to the applicant with which he or she can apply for the country’s passport.
By comparison to European CIPs, the Caribbean islands offer shorter processing times for obtaining second citizenship. Application processing times can be as fast as two months and have no physically residency requirements imposed on the applicant. The only exception to this is Antigua and Barbuda, where the only requirement is to be in the country for a minimum of five days in the first five years following receipt of citizenship.
For the Citizenship by Investment Programs Comparison Table, please click here.
For more information on Citizenship by Investment Programs, please click here.
Fill out our Free Assessment to find out if you qualify for any of the immigration programs offered.