The Covid-19 pandemic has changed our lives. Millions of people started working remotely instead of in the traditional office environment. And many large corporate companies like Google, Facebook, Microsoft, etc., allowed their employees to work from home, temporarily or permanently. So, many digital nomads started acquiring dual citizenship from programs worldwide – and obtaining a Caribbean passport for digital nomads is now a possibility!
Have you seen our list of countries with digital nomad visas?
Citizenship by investment options allows digital nomads to stay for extended periods in another country. Most of the programs require digital nomads to have a certain income threshold, a clean police record, and financial means to support themselves. Caribbean countries offer the best CBI programs for anyone who wants to invest in their economies.
But how can they obtain Caribbean citizenship? Follow along to learn more about Caribbean countries’ Citizenship by Investment (CBI) programs.
Which Caribbean Countries Have CBI Programs?
Five Caribbean countries have CBI programs. You can make Caribbean citizenship by investment comparison between countries and choose the one that fits your requirements.
St. Kitts and Nevis
St. Kitts and Nevis’ citizenship by investment program is the oldest in the world, known as the grandfather of all of the CBI programs. It was launched in 1984 and ever since has been a successful link between investors and the country’s economy.
Investors can choose one of the investment options:
- $150,000 in the Sustainable Growth Fund
- $400,000 for investing in real estate; the amount can be reduced to $200,000 if connected investors apply for citizenship
- Investing in exclusive resorts managed by 5-star hotel brands
St. Kitts and Nevis have no taxes on capital gains or income overseas, and you can enjoy your visa-free traveling to 165 countries. This type of passport is ideal for those who want to travel easily.
St. Lucia’s CBI program is pretty new, launched in 2016, and has been operating successfully in recent years. There are three main investment options – real estate, government bonds, and donations to national funds. The lowest cost to become dual citizens in St. Lucia is by investing in the National Economic Fund, a minimum sum of $100,000 for a single applicant and $190,000 for a family.
St. Lucia’s program has a Covid-19 relief bond investment option, which was launched due to the Covid-19 pandemic and will expire in December 2022. Applicants can deposit a minimum of $250,000 in refundable government funds. They are obligated to hold the bond for five years, after which it can be liquidated.
The average processing time of the application is 3-4 months, and the main applicant can add family members to it, including children, parents, grandparents, and a spouse.
Need a list of all laptop accessories and essentials? We’ve got the ultimate list of laptop gear for digital nomads.
Antigua And Barbuda
Antigua and Barbuda is another idyllic Caribbean country that has a CBI program for digital nomads. It allows investors to travel to 160 countries without a visa, including Hong Kong, Switzerland, the UK, and the Schengen zone.
Investment options are:
- $400,000 in government-approved real estate, $200,000 for connected investors
- $1.5 million in opening a business in Antigua
- $100,000 in the National Development Fund
The donation is a popular investment option for families seeking dual citizenship in Antigua. And since there are no taxes and fees to pay in addition to the main fees, it’s a perfect solution for families.
Remember – You are required to visit Antigua for at least five days during the first five years!
Grenada’s CBI program offers dual citizenship to digital nomads and grants them visa-free travel to 153 countries. It also offers access to the E2 treaty visa to the USA. There are two investment options where digital nomads can invest and obtain a second passport:
- $200,000 in real estate pre-approved by the government
- $150,000 as a donation to a national fund
The program was launched in 2013 and has a low-cost entry. The applicants will be subject to due diligence checks, must be in outstanding health, and with no criminal records.
Dominica’s CBI is available through investment in real estate and a non-refundable donation to a national fund. You can invest a minimum amount of $200,000 in real estate or $100,000 in the government fund, plus applicable fees.
Dominica’s passport is ideal for digital nomads and those who want to travel to many countries, including China. The passport grants visa-free access to 153 countries worldwide.
You may want to work from the beach in Dominica (we won’t blame you). Make sure that you always stay connected with a hotspot and internet solution.
What Are The Benefits?
Now that we’ve learned about the investment options in Caribbean countries, it’s time to discuss the benefits of dual citizenship.
First of all, Caribbean passports are on the rise, with many foreigners applying for dual citizenship in one of these countries. The Caribbean passports have visa-free access to Russia, and China has even opened the doors to Grenadian citizens, which means they can travel without a visa.
Additional benefits include:
- Low cost
- Tax benefits
- Fast application process
- A better lifestyle, education, and healthcare
Consult a legal entity or an authorized agent before applying for dual citizenship. And start enjoying life as a digital nomad.
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