In a significant shift for investors and the Caribbean region, five nations with Citizenship by Investment (CBI) programs have announced increased minimum investment thresholds. This change, which takes effect from July 1, 2024, follows a Memorandum of Agreement (MOA) signed on March 20, 2024, by heads of government from the Organisation of Eastern Caribbean States (OECS).
The new regulations impact Antigua and Barbuda, Dominica, Grenada, Saint Lucia, and St. Kitts and Nevis, each adjusting their investment requirements for citizenship programs. Here’s a breakdown of the new thresholds:
- Antigua and Barbuda: The donation requirement for single applicants and families of up to three members has been raised to $230,000. For families of five or more, the threshold is now $245,000. Real estate investment has also increased to $325,000. Government fees and additional costs apply based on family size and composition.
- Dominica: Single applicants now need to invest $200,000, while the cost for families of up to three is $250,000. Additional dependants are charged $25,000 each for those under 18 and $40,000 for those 18 and older. Real estate investments have also been set at $200,000.
- Grenada: The donation option for single applicants is now $235,000, covering up to three dependants but excluding certain family members. Real estate investments must be at least $350,000 for single investors or $270,000 each for joint investors, with a government fee of $50,000.
- Kitts and Nevis: The minimum donation for single applicants remains at $250,000 but now includes up to three dependants. Real estate investment thresholds have increased to $400,000.
- Saint Lucia: Single applicants now face a donation threshold of $240,000, covering up to three dependants. Additional fees apply for dependants and real estate investments, with a minimum of $300,000.
These changes reflect a broader trend towards tightening regulations in the CBI sector. The increase in investment thresholds is designed to enhance the integrity of the CBI programs and align with international standards. As these new regulations roll out, potential investors should review the updated requirements closely to understand their impact on citizenship acquisition plans.
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