Citizenship by investment: the Caribbean vs Europe – which is right for you?

Nobody can argue with the statement that the 21st century is the era of globalization. In this context, second citizenships and alternative travel documents are key to opening new opportunities. The old continent and the fantastic Caribbean both provide us with enticing citizenship-by-investment programs, albeit with separate allure and investment requirements. Naturally, the advantages of living in Europe are attractive, but the Caribbean doesn’t lag and stands on solid ground. Let’s review these options and compare their requirements and conditions so that you can make an informed decision.

Europe citizenship: the last harbor

The landscape of Europe citizenship is not the same as it was 5 years ago, with Malta now being the only active CBI in the EU. This program necessitates a significant investment of €600,000 and the whole process can take anywhere between 12 and 36 months, depending on the amount of investment you decide. Also, we can look at the former CBIs of Cyprus and Montenegro, which have been discontinued.

Cyprus’ program was abruptly canceled in November 2020 following allegations of corruption. Montenegro, on the other hand, discontinued its program after the designated time span (including an extension) expired. The absence of such programs now leaves Malta as the singular option for those seeking to enjoy the advantages of living in Europe. Nonetheless, this may not be the right fit for everyone due to its high investment threshold and lengthy processing time.

Do you find Europe citizenship too expensive? Get a second citizenship in the Caribbean and access practically the same benefits!

On the flip side, in the Caribbean, you'll find plenty of benefits including a quicker path to citizenship. The opportunity to conduct business in the Caribbean is not to be overlooked. In 2023 we have five countries, i.e., citizenship programs in the region from which the oldest one is Saint Kitts and Nevis. If you compare Europe citizenship with the Caribbean, you'll find a much lower cost in the latter. The Caribbean options actually start at 100,000 USD for a family of four members in one of the islands: Antigua and Barbuda. The reader should be aware that this number is only and plainly for the investment. Applicants must pay government and legal fees and naturally, there will be expenses, but they are beyond the scope of today's article. These 100,000 are only for a donation which doesn't bring you any type of profit or returns. If you want a real estate investment, and also for a fair comparison with the Malta program, we're talking about $200,000 which is still much more affordable than the European version.

Advantages of doing business in the Caribbean 

Beyond the affordable investment costs, these countries bring potential businesspeople an opportunity to engage in business in the Caribbean. For instance, the St Lucia company sector provides a favorable environment for businesses and the chance to tap into vibrant local and regional markets. Furthermore, banking in the Caribbean, such as with a bank in Nevis, offers robust financial services infrastructure and potential tax advantages that come with a Nevis trust and bank. 

All in all, these countries are very small and have few resources except for maybe tourism. This is why foreign investment becomes a crucial part of their economy and CBIs are the heart that bumps the resources across the country’s arteries. Also, if you get a second citizenship in the Caribbean you access a flexible environment and a passport that opens travel opportunities to many places including top tourist, cultural, and business destinations. A bank in Nevis, a St Lucia company, or a unit in a Grenada resort can be excellent accessories in your financial plan. 

Also, a crucial aspect to consider is not just the initial investment but the quality of the document you acquire. Here, the Caribbean jurisdictions won’t disappoint. Although these countries may not have the historical, solid prestige of some European destinations, a passport from the tropics provides outstanding, wide, and convenient travel freedom, with visa-free or visa-on-arrival access to several countries across the globe.

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Europe citizenship or business in the Caribbean? A comparison 

We are not naive, we are aware of the advantages of living in Europe: prestigious universities, solid currency, and easy access to some of the key players in the international financial world. Now let’s see it from the Caribbean point of view. 

In Grenada, we have St George’s University, one of the most important tuition centers in the region. Actually, most of the physicians that are working right now in the US are graduated from the said university. It has been the main provider of doctors in United States first-year residencies for nine years. Also, Grenada has an E-2 agreement, which means that you can run a business, get a visa and eventually send your children to study in the US.

When it comes to the economy, the Caribbean’s main currency, i.e., the Eastern Caribbean Dollar is relatively stable, although not as strong as the euro.

Nonetheless, nomad capitalists must have their assets diversified in as many currencies as possible as none of them is 100% safe. Especially if you have other sources of business and the right diversification in place, currency volatility won’t be a problem. 

When it comes to access, the five countries in the Caribbean offer a wide variety of travel options without tiresome visa processes, which includes in many cases the Schengen area. It’s unnecessary to explain that Malta places you much closer to Schengen, but, unless you have very specific intentions to visit the area regularly, most Caribbean passports will also work. 

Minimum investments possible if you want to get a second citizenship in the Caribbean

Now let’s compare the numbers. In the first paragraphs, we’ve established the onerous thresholds that Malta requires. Next, we lay out the minimum required in the Caribbean for a single applicant. Naturally, adding dependents has extra costs and you’ll also have expenses, legal and government fees. The following table intends to show an outlook of what kind of money you are required to invest in the region to access the right to a passport. 

Nation/donation /real estate 

Grenada/$150,000/$220,000

Antigua and Barbuda/$130,000/$200,000

Saint Kitts and Nevis/$125,000/$200,000

St Lucia/$100,00/$200,000

Dominica/$100,000/$200,000

Disclaimer: the data laid out in this article intends to show the general landscape of citizenship investment requirements both in the Caribbean and the old continent, hence, the article should not be considered legal advice. 

Which way to go? A conclusion on how to choose your ideal program 

For those keen on real estate strategies, in the Caribbean you can purchase a property and earn the right to apply for a passport. With a minimum of USD 200,000, applicants can apply for citizenship and be the owners of a profitable asset in idyllic surroundings. This presents not only a potential return but also a perfect getaway home for those who want to get a second citizenship in the Caribbean. 

To conclude, if your absolute need is to become a citizen of the EU, Malta's passport is your only alternative, albeit expensive. However, if EU (Europe) citizenship is negotiable, the Caribbean provides a more cost-effective solution with equally attractive perks. Whether you want to open a St Lucia company, bank in Nevis, or just need a second travel document to expand your freedom, here you can access cost-effective and compelling requirements.

The reader should not lose focus on what’s important: the exact choice, at the end of the day, depends on the person’s needs and aspirations. So, it is vital to research attentively or consult with a qualified adviser before starting this wonderful, exciting journey.

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