8 UGLOBAL IMMIGRATION MAGAZINE
“ Another great advantage of the CBI programs in the Caribbean is that the investment is only required after the application is pre-approved .
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offer visa-free travel to a large number of countries , including Europe , United Kingdom , Singapore and Hong Kong .
Additionally , Grenada and more recently Dominica , allow visa-free access to China . The move is aimed at boosting tourism and business ties with China , one of the world ' s fastest-growing economies .
The Grenada CBI program is the best option for investors looking to relocate to the United States . It offers successful applicants the opportunity to relocate under the E2-Treaty visa which allows applicants to live and work in the United States .
FINANCIAL FEASIBILITY AND INVESTMENT OPTIONS Citizenship by investment programs allow investors to choose from a variety of investment options , including purchasing property , government bonds , or making a donation .
Donations made through CBI programs are used to support a wide range of public projects , including education , health care , and infrastructure development . Donations start at US $ 100 000 for Dominica , St Lucia and Antigua & Barbuda and US $ 150 000 for St Kitts & Nevis and Grenada for a single applicant . The amount increases as additional dependents are included within the application .
Alternatively , applicants can proceed with a real estate investment in a government-approved project in the tourism sector . Tourism projects include options of investing in shares , whole or fractional ownership in some of the most luxurious hotels in the Caribbean . St Kitts & Nevis , Dominica , Antigua & Barbuda and St Lucia require a minimum investment of US $ 200,000 whereas Grenada requires $ 220,000 . Real estate projects can offer a return on investment and investors can sell their investment once the investment holding period is met – 3 years for Dominica , 5 years for St Lucia , Grenada , and Antigua & Barbuda , and 7 years for St Kitts & Nevis .
If you ' re looking for a business opportunity instead , Antigua & Barbuda and St Lucia offer the option of investing in an approved enterprise investment starting at $ 1.5 million and $ 3 million respectively .
In addition to offering business opportunities , Antigua & Barbuda and St Lucia each offer an additional and unique investment option to choose from . In Antigua & Barbuda , applicants have the option of proceeding with the university fund ( UWI ). The UWI Fund focuses on the advancement of education within the country . The financial contribution starts at $ 150,000 and will include a scholarship for one of the family members included in the application for their first year of studies . In St Lucia , applicants have the option of proceeding with the government bond . This is a non-interestbearing bond and the funds will be returned to the applicant after a set period of time . Bonds start at $ 300,000 for 5 years , under the current Covid-bond relief program .
FAMILY MEMBERS A great advantage of the CBI programs in the Caribbean , is the ability to include family members within the same application . This means that you can obtain citizenship not only for yourself , but also for your spouse , children , parents , and siblings as well as future spouses and children .
In all the CBI programs , spouses and children up to the age of 30 can be included within the same application . Children must be unwed and have no children of their own . In addition , Dominica requires proof of enrollment in an institute of higher learning for male children ages 18-30 and female children ages 18-25 .
In order for parents to qualify within the same application , they must be over the age of 55 years for St Kitts & Nevis , St Lucia and Antigua and over the age of 65 years for Dominica . Grenada currently does not impose any age restrictions .
Age restrictions are not imposed on siblings for the St Lucia and Grenada CBI programs . Siblings must be under the age of 30 years for St Kitts & Nevis and under 18 years of age for St Lucia . Dominica recently announced that siblings are no longer considered qualified dependents and cannot be included within the same application .
TAX BENEFITS If you ' re looking for a way to reduce your tax liability , you may want to consider becoming a tax resident of another jurisdiction with a favorable tax regime . The Caribbean is one of the best regions in the world for this , and there are several ways to qualify for tax residency through the citizenship by investment programs . However , many people are surprised to learn that citizenship in a Caribbean country ( with the exception of St Kitts & Nevis ) does not confer automatic tax residency . Individuals must comply with certain criteria set by each jurisdiction to obtain official tax residency status though it is usually fairly straightforward process . Once obtained , tax residents enjoy a number of advantages , including lower taxes and more relaxed financial reporting requirements . It should be noted , however , that tax residency in the Caribbean does not exempt individuals from their tax obligations in their home countries and it is essential to work with both local and international tax experts to create a comprehensive tax planning strategy to minimize your overall tax burden while remaining compliant with all applicable laws and regulations .