Five Caribbean countries with Citizenship by Investment (CBI) Programmes have increased the minimum investment thresholds equivalent to or more than $200,000.
The decision was taken to implement arrangements agreed in the Memorandum of Agreement (MOA) signed on March 20, 2024, by heads of the governments of the Organisation of Eastern Caribbean States (OECS) member states.
Effective July 1, 2024, each nation including Antigua and Barbuda, Dominica, Grenada, St Lucia and St Kitts and Nevis, has now released updated regulations or memos reflecting these changes.
Making these changes last year, St. Kitts and Nevis was the first country to implement the increased investment for their CBI programme. Similarly, Dominica and Grenada have also moved swiftly, issuing its Gazetted Regulations to reflect the new minimum investment thresholds, with the changes taking effect.
In Antigua and Barbuda, the government has issued a memorandum detailing the increased price thresholds, which are set to come into effect once the new regulations are gazetted, proposed for July 30, 2024.
Initially, Saint Lucia was not part of the March 2024 MOA. However, following international pressure and concerns about maintaining the integrity and reputation of Caribbean CBI programmes, the island nation decided to join the agreement a few months later during CIS event in Grenada.
The new regulations impact Antigua and Barbuda, Dominica, Grenada, Saint Lucia, and St. Kitts and Nevis, each adjusting their investment requirements for citizenship programs. Here’s a breakdown of the new thresholds:
- Antigua and Barbuda: The donation requirement for single applicants and families of up to three members has been raised to $230,000. For families of five or more, the threshold is now $245,000. Real estate investment has also increased to $325,000. Government fees and additional costs apply based on family size and composition.
- Dominica: Single applicants now need to invest $200,000, while the cost for families of up to three is $250,000. Additional dependants are charged $25,000 each for those under 18 and $40,000 for those 18 and older. Real estate investments have also been set at $200,000.
- Grenada: The donation option for single applicants is now $235,000, covering up to three dependants but excluding certain family members. Real estate investments must be at least $350,000 for single investors or $270,000 each for joint investors, with a government fee of $50,000.
- Kitts and Nevis: The minimum donation for single applicants remains at $250,000 but now includes up to three dependants. Real estate investment thresholds have increased to $400,000.
- Saint Lucia: Single applicants now face a donation threshold of $240,000, covering up to three dependants. Additional fees apply for dependants and real estate investments, with a minimum of $300,000.
These changes reflect a broader trend towards tightening regulations in the CBI sector. The increase in investment thresholds is designed to enhance the integrity of the CBI programs and align with international standards. As these new regulations roll out, potential investors should review the updated requirements closely to understand their impact on citizenship acquisition plans.
