Caribbean cooperation: four countries enhance key aspects when it comes to investment citizenship

Transparency is becoming more vital by the day, especially for those going global. It's no secret that citizenship by investment has been seen as shady and, because of some isolated bad actions, some programs had to pay the price.

When a person gets citizenship through any of these means, security is essential. After all nomad capitalists choose such programs because they want freedom and the last thing they expect is having to deal with additional complications. 

What we're trying to say is that compliance and a good reputation should be the main ingredients in your ideal citizenship-by-investment recipe. This is why Mundo decided to feature this news about Caribbean cooperation when it comes to CBI guidelines.

Caricom cooperation: four countries align their forces

Four of the five Caribbean countries offering citizenship by investment have signed an agreement to align some aspects of their programs. We are talking about Dominica, Antigua and Barbuda, Grenada, and Saint Kitts. Through a memorandum of understanding this Caribbean cooperation will establish some common ground rules which will be implemented on June 30th.

Minimum thresholds

The countries will set out a minimum of $200,000, which must be the net amount of the investment. In other words, these 200,000 must be a gross sum without deductions, expenses, commissions, or other payments that may be due. Through this Caribbean cooperation, any changes applied to the minimum must be adopted by all the group. What does this mean? From June 30th, the Antigua and Barbuda opportunities must align with those of other players.

Transparency standards and sharing of information

A similar agreement has been signed by the five CBI countries according to which they must share information on all the applicants. Now the four countries signing the memorandum must establish a digital portal with the local JRCC, located in Barbados. In line with this, each country must commit to disclosing disbursement and revenues derived from their programs.

Caricom cooperation that focuses on a more regulated environment

Grenada, Antigua and Barbuda, Saint Kitts, and Dominica will establish a regional authority to regulate their programs and their related activities. This common authority will be in charge of supervising practices and making sure they are in compliance with international requirements.

Ask for more info

Follow-up and enhanced security

What happens with the candidates once they become citizens directly impacts the programs’ reputation. One must be clean of a criminal record if one wants to access Antigua and Barbuda opportunities, top investments in Grenada, or citizenship in Saint Kitts. After approval this doesn’t end, on the contrary, the person’s behavior must continue to be impeccable.

This is why a proper follow-up becomes imperative and somebody needs to be in charge. Thus, the four countries will be committed to conducting post-approval research and retrieving canceled passports if needed.

Marketing awareness in a Caribbean cooperation

Marketing practices must be carefully conducted in order to attract reputable candidates. Everything points out to the prohibition of concepts such as “visa-free access” as a marketing tool and banning the use of passport photos for visual advertisements.

Prime ministers Dickon Mitchell and Terrance Drew announced their support for this new Caribbean cooperation

Grenada Prime Minister, Dickon Mitchell, and Saint Kitts and Nevis Head of State, Terrance Drew were two of the players signing the memorandum. The latter stated the importance of this Caricom cooperation for the CBI industry as it will prevent problems such as underselling. 

St Kitts, Grenada, Dominica, and Antigua and Barbuda opportunities: where do these countries stand?

For now, the four countries are maintaining similar conditions when it comes to CBI applications. Moreover, the four of them have one thing in common: they only offer the classic investment paths of real estate and donation. On the other hand, St. Lucia, which is the only Caribbean CBI country that did not sign the agreement, is coincidentally the only one that has a third option. In Saint Lucia, applicants can access citizenship also through a government bond investment.

So far, all the programs have a $100,000 threshold for donations (100,000 in Antigua and Dominica, 150,000 in Grenada) except for St Kitts whose minimum starts at 250,000 after recent amendments have been introduced in July 2023. When it comes to real estate minimum investment, none of these programs is below the $200,000.

Only after June 30th will we know the exact repercussions of the memorandum of understanding. What we do know so far is that this Caribbean cooperation intends to keep the programs at their utmost transparency and reliability, and this is good news for everyone.

Disclaimer: this article contains general information and does not constitute legal advice. Furthermore, the thresholds described here intend to provide a general view rather than updated information. Before applying for a CBI program make sure to consult with a registered agent and certified professional.

Mundo helps you get a second citizenship in the Caribbean

Once you become a citizen you can get Antigua and Barbuda jobs, access real estate possibilities in Grenada or Saint Kitts, and live in Dominica or wherever it is you have found your new home.

Citizenship by investment provides a faster path to having a second nationality and to access a whole new world of opportunities. Studying, traveling, investing, and diversifying become easier if one has at least two nationalities. For the modern entrepreneur, this is not a choice anymore but a necessity. 

If you want to go down that road, the Mundo team helps you find the right fit for you. With any of the four Caribbean cooperation programs, St Lucia, Vanuatu, or even through residency paths like the ones found in Panama, your migration needs may be covered sooner than expected.

We are in contact with agents, realtors, experts, lawyers, and other providers who can help you fulfill your migration investment goals. Start now and contact your Mundo expert.

Meet your Mundo Expert