New prices in the Caribbean: changes in the five CBI countries after the MoA

Understanding the dynamics of the migration world can be challenging, especially when it comes to citizenship by investment. If you're looking for a safe island destination as your second citizenship the options are limited to a handful of regions like the Caribbean and Vanuatu.

In this case, it might be a good idea to take a look at Caribbean prices and the new requirements set forth after the MOA.

New prices in the Caribbean: five countries amend their programs

At Mundo, we’ve discussed the memorandum of agreement concerning the five eastern Caribbean CBI countries. Give or take, the five countries eventually signed and committed to implementing changes in favor of strengthened cooperation.

Those changes were to be implemented on June 30th; this is why from the 1st of July most amendments were already in place. However, each island destination has its own internal system and these structural changes can't be made overnight. Some considerations were made regarding the applications already being processed and force majeure circumstances.

Dominica was the last country to announce changes to its Caribbean price. While the real estate minimum of $200,000 remains untouched, fees are subject to change. In line with this, the contribution option (donation to the EDF or Dominica’s Economic Diversification Fund) reached a minimum of $200,000 (single applicant) and $250,000 (family of four). 

Grenada, on the other hand, released a circular on July 3rd stating having difficulty to meet the June 30th deadline due to hurricane Beryl and its impact. Grenada's main agents faced challenges when performing their tasks hence an extension for applications under the old regime was requested. Thus, this deadline was pushed to July 12th for presenting the applications and July 31st as the last day for sending the funds and arranging all bureaucratic affairs. 

Caribbean prices in Saint Lucia, Island destination

In Saint Lucia, a grace period has been granted to submissions that were received even by midnight on June 30th. They granted a grace period till July 31st for the agents and clients to complete the processes. It was noted that St. Lucia kept us wondering for a few weeks as it was the last country to sign the memorandum. When they finally made the decision and singed on June 3, they've clearly shown the general tendency of the Caribbean prices for the next following years. 

Moreover, this is one of the programs whose prices have changed more drastically to meet the minimum of $200,000 stipulated by the agreement. To sum up, Saint Lucia raised the minimum contribution option for a four-member family from $100,000 to $240,000. Real estate thresholds also increased to $300,000 plus fees, and $250,000 for enterprise projects.

During this transitional period, the government was flexible toward those applications submitted before the changes and that were already in process. This grace period ended on July 31st. 

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Antigua and Barbuda asked for a 30-day postponement in order to properly pass on the legislation adjustment through parliament. Naturally, this allowed pending applications to extend the process before the new Caribbean prices and conditions would come into force. Finally, Saint Kitts and Nevis and Dominica did not grant any grace period.

The complexity of new prices in the Caribbean: St Kitts lowers price while others increase it

The Federation of Saint Kitts and Nevis announced its price changes on July 9th, thus making the second important fee change within a year. In July 2023, they updated their investment threshold according to the EU requests.

St Kitts lowers price for SISC

SISC is the acronym of Sustainable Island State Contribution whose minimum investment threshold has decreased from $350,000 to $250,000 (single applicant or four-member family).

Under the new framework, the additional contributions for additional dependents under 18 is 25,000 dollars and for the dependents older than 18, the additional investment is set to $50,000.

While St Kitts lowers price for the donation option, real estate remains the same and continues to be one of the most expensive alternatives in the region. The prices are $400,000 for real estate by a developer, $400,000 for an investment (condominium, unit, or share), and $800,000 for a family's private residency.

What is the structure of the new prices in the Caribbean after the MoA

Real estate option (from the most expensive to the least expensive)*

• St Kitts $460,000**
• St. Lucia $355,000
• Grenada and Antigua $320,000
• Dominica $300,000

Donation option (from the most expensive to the least expensive)*

• St Kitts, Dominica, Antigua $250,000
• St Lucia $240,000
• Grenada $235,000

*Note: Cost for a family of four

**Includes the investment and the fees

Disclaimer: this article is the result of editorial research and presents a general overview of the new Caribbean prices from Mundo's point of view. Please keep in mind that this article should not be considered migration advice. Before applying for a CBI program please consult with a certified expert. 

Final thoughts on new prices in the Caribbean

In conclusion, we can see the new layout of the Caribbean prices under the current scheme. At this point, it’s vital to understand what direction you want to take when choosing your island destination for CBI. 

If you go for the real estate option, the differences are to be considered and we can see St Kitts clearly standing out above the others when it comes to pricing. On the other hand, the donation alternatives are much closer to each other. In this case, personal preferences or other program features are to be factored in rather than prices. 

At Mundo, we are proud to count on excellent experts in economic migration. We can introduce you to any of the five Caribbean countries or Vanuatu.

If you're looking for a Spanish speaking country and don't have a problem with acquiring residency first, then we advise you take a look at Panama.

As a nomad capitalist journal, we are committed to the philosophy of financial freedom and we connect readers with the best services out there. This includes corporate, trusts, economic migration, investment, real estate, and many more.

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