British Virgin Islands

Friday, Sep 18, 2020

These Caribbean islands are making it easier (and cheaper) to gain citizenship

As Covid-19 ravages the United States and the upcoming presidential election becomes more contentious, many Americans have at least thought about moving to another country.

New Zealand, for instance, which has almost completely eradicated the disease, says it has had 250,000 Americans (and counting) visit the country’s official immigration website to investigate whether they would qualify to move there, according to the New Zealand Herald.

And now, several Caribbean Islands are making it easier (and cheaper) for foreigners to obtain a second citizenship there.

While many Caribbean offer citizenship for investment, the pandemic has forced some to have a fire sale of sorts. Les Khan, CEO of the St. Kitts and Nevis Citizenship program, told Bloomberg that because of the drop in tourism, the islands have had to find new “ways to create revenue,” including discounted citizenship programs.

Here are several Caribbean islands to check out.


St. Lucia

n May, government officials in St. Lucia introduced a new option under its Covid-19 Relief Bond to gain citizenship through bond investments. Applicants need to invest $250,000 (for a single applicant) or $300,000 (for a family of four) in bonds to gain citizenship. The previous requirement was $500,000 (for a single applicant) and $550,000 (for a family of four). The bonds are held for five years at 0% interest with additional service fees. The new program launched May 12 and will continue until the end of 2020.

Applicants can also make a $100,000 donation and invest $300,000 into real estate with a three- to five-month wait time to gain citizenship.

The island of St. Lucia started offering residency to foreigners in 2015, according to Forbes.


St. Kitts & Nevis

In July, sister islands St.Kitts and Nevis announced a “Covid-19 limited discount” to their Citizenship by Investment program.

From July until the end of 2020, the donation required for a family of four to gain citizenship will be reduced from $190,000 to $150,000. The money must be donated to a charity set up by the St. Kitts-Nevis government. A $200,000 real estate investment is also required.

No changes were made to the donation fee for individuals, which is $150,000, plus real estate investment.


Antigua and Barbuda

In May, Antiqua and Barbuda announced a discounted option to its Citizenship by Investment Program.

Applicants can now make a donation of $100,000 the islands’ National Development Fund for a family of four (which is down from $125,000), plus a real estate investment of $200,000.

The application process is expected to take three to four months.

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