Caribbean Citizenship by Investment: A Guide for Americans Seeking a Second Passport

Optimising your taxes, travelling the world with ease, living where many dream of vacationing, and most importantly, having a reliable and effective ‘Plan B’… These dreams can become your reality through the Caribbean countries’ second citizenship programs

Since the COVID-19 pandemic, the number of Americans interested in obtaining a second passport to preserve their mobility and freedom has significantly increased. Here’s how Americans can acquire second citizenship in a Caribbean country and why this option is popular with investors and entrepreneurs worldwide.

What is CBI – Citizenship by Investments?

Five paradise islands in the Caribbean offer American and other foreign investors a “Golden Passport” program or the opportunity to gain citizenship through investment in their economy. This is an opportunity to change your country of residence and where you pay taxes, enjoy spontaneous travel, and establish a safety net for your family in geopolitical or other crises. A second Caribbean passport through investment provides global mobility and visa-free travel. Residency in these countries is often chosen for financial benefits and tax incentives.

Second citizenship by investment can be obtained in Antigua and Barbuda, Grenada, Dominica, Saint Kitts and Nevis, and Saint Lucia. Broadly, the CBI (citizenship by investment) programs of these Caribbean countries appear similar. Minimum investments start at $200,000 to $250,000, and the waiting period for a passport ranges from three months upwards. All programs include a mandatory background check for investors.

The countries offer roughly similar investment options:

• Non-refundable contributions to government-managed funds — you will not get your money back or earn interest or any other returns. The advantage is that the amount is usually lower compared to other options, and your funds will contribute to developing green energy, education, healthcare, and infrastructure on the islands.
• Real estate purchases with the option to sell after 3-7 years — Caribbean investors are often offered shares in tourist properties, such as hotels. Depending on the market situation, these can be rented out and sold for profit, bringing a return on the investment.

Unique investment options for Caribbean programs include:

• Purchasing residential real estate in Saint Kitts and Nevis;
• Investing in National Action Bonds in Saint Lucia — interest-free, but with a full refund of the investment amount available.

It is reassuring to note that you don’t need to risk your funds before the application is approved. The government first reviews your documents, and only upon approval do you transfer your funds.

How can you choose the best CBI program in the Caribbean?

Leave the planning of dual citizenship acquisition to the consultants at Astons, an international company with office in the United States, working with American citizens and residents of other countries. We know all there is to know about CBI and will select the best way to enhance your global mobility. We’ve compiled a comprehensive guide comparing investment options, tax incentives, and other benefits of Caribbean citizenship for affluent Americans. Do feel free to explore it and schedule a consultation.

Legal Implications of Dual Citizenship for Americans

What should you know about the legality of second citizenship in the US? It is an entirely legal option that allows you to retain the basic rights and freedoms guaranteed by the Constitution. You are free to choose where to live as long as two or more countries guarantee you equal protection as their native citizens. You maintain the global mobility available to all Americans and expand the list of visa-free destinations accessible to you. You still have all of your rights to social assistance, voting, and legal protection. However, you may lose the chance for government service or access to classified state information. If neither you nor your family plans a career in government or politics, a second passport will not affect your legal rights and freedoms.

For the US government, you will remain a US citizen regardless of the number of passports you hold. This is both good and bad news. The government will continue to protect your rights and interests even when you are abroad. However, you do retain all obligations, including regular tax filings. American citizens with dual citizenship should keep in mind their tax obligations and the consequences of tax non-compliance.

On the other hand, the Caribbean offers a true tax haven. If you spend less than 183 days per year on the island, you only pay taxes on property and income earned there. However, moving to the Azure Coast rarely involves taking a job at a local company. Even residents do not pay income tax in Antigua and Barbuda or Saint Kitts and Nevis. These countries also do not tax on inheritance, capital gains, or wealth. If you don’t move permanently to the islands or transfer your business there, you will not have to worry about taxes.

A Program for the Whole Family

An essential benefit of second Caribbean citizenship for Americans is the ability to include the entire family in the program. You can add your partner, parents, children, and in some countries, even siblings to your application. Family participation can make the program more affordable for everyone involved. Many Caribbean countries offer family packages for obtaining passports at the exact investment cost as individual applicants. By combining resources with your parents, you can move to a tropical paradise or give your children new opportunities without sacrificing early retirement or mortgage prepayment.

Who can be included in a Caribbean citizenship application besides a spouse?

None of the Caribbean countries offering citizenship by investment have legalised same-sex marriages. You and a same-sex partner would need to apply as individual investors. Your children can join either parent as long as the biological or adoptive relationship is confirmed by birth or adoption certificates.

Options for Obtaining a Second Passport for US Citizens

The Caribbean Five offer investors a passport in exchange for contributions to state development funds or local universities or through the purchase of real estate or securities. Non-refundable charitable contributions are lower in cost, while refundable investments minimise overall program expenses. Here’s what to consider if you want to help others or retain more of your capital.

Opportunities to Help Others

First-world countries leave a large carbon footprint. Rising global temperatures due to data centres, air travel, and air conditioning often harm nations reliant on agriculture, leading to losses from droughts or heavy rains. Participating in Caribbean citizenship by investment programs offers you a chance to support local communities affected by climate change. These countries direct investor funds to develop infrastructure and social projects, such as affordable housing. Choosing a charitable contribution to one of the state funds as part of your passport acquisition supports developing economies. It helps governments mitigate the impact of climate change on their citizens.

Opportunities to Recoup Your Investment

All Caribbean citizenship programs have an option of making non-refundable contributions to government funds or social projects. If you prefer an option that allows for a partial or full return of funds, you have the following choices.

Details of the minimum contributions for non-refundable and refundable investments are provided below (at the end of the article.)

How to Apply for Caribbean Citizenship

Each country has its own system for processing applications. However, you cannot apply directly to the government. Applicant documents are reviewed and processed by licensed agencies authorised by the government. Final decisions are made by local authorities, with agencies merely providing recommendations. Astons works closely with all programs offered by the Caribbean Five and is a licensed marketing agent for all of them.

To ensure the success of your case, we conduct our own express evaluation to assess your chances and reliability. Our international legal team has a deep understanding of Caribbean citizenship laws and investor assessment principles. Therefore, we sign a cooperation agreement with you only if you meet the due diligence standards. If the risk of your application being rejected is too high, we can offer other programs with less stringent due diligence checks.

Caribbean passport programs set the gold standard in the investment immigration sector. The governments of these countries seek to attract investors with clean reputations and transparent sources of funds.

An investor must demonstrate that they have no criminal record, no visa denials, and must show transparency regarding the origin of assets and the funds used for Caribbean investments. Business reputation is also considered, so required documents often include recommendation letters from banks, partners, and colleagues.

Main Steps for Obtaining Citizenship (Generally Consistent Across Caribbean Countries)

1. Contact Astons and select the appropriate program with a consultant.
2. Gather documents: identity documents, marriage and birth certificates, bank statements, and tax returns. Our experts will compile a customised list for you and your family. Our lawyers will handle the correct completion of government forms and application forms.
3. Astons staff will review and prepare your application according to the program’s terms.
4. Pass a document check and interview (travel to the islands is not required; everything is handled remotely).
5. Await approval from local authorities and transfer funds to the selected fund, real estate seller, or securities.
6. Wait for your passport delivery.

Minimum Investments for Family and Individual Investors

Determine your family composition and start estimating program costs. We will provide details on the required investments below. Remember that your expenses won’t be limited to the contribution amount. You will also need to pay for:

• Document verification fees;
• Licensed agent services;
• Passport and other official document forms;
• Remote interviews;
• Receiving completed documents by courier or mail.

Each country has its own set of additional fees. While the investment amount does not always depend on family size, fees are generally calculated per adult applicant. Please leave an inquiry to receive a detailed program presentation with information on all additional expenses. If the total cost is your main selection factor, our consultants will help you evaluate costs and select the most affordable option.

As of the end of 2024, the following minimum amounts apply to those seeking Caribbean citizenship through investment.

To learn more details about each programme, receive a free, no-obligation consultation with experts from our international team. We will help you take the first step towards a new, free, and global future.