Updating Citizenship by Investment Programs in the Caribbean

On June 26, 2024, the Caribbean countries of Antigua and Barbuda and Grenada announced the release of memoranda with new rules for participation in their citizenship by investment programs.

These announcements follow the signing of a memorandum in March in which all Caribbean countries expressed their intention to work together and consistently in the investment migration market. Among the agreed steps, the intention of all participating countries to increase the minimum investment threshold for participation in the programs from July 1, 2024 was highlighted.

Grenada

Grenada has announced its full readiness to introduce new rules from July 1, 2024.

Here are the options for participating in the Grenada program:

Contribution to the National Transformation Fund (NTF):

• One applicant or family of up to 4 people – USD 235,000.

Real Estate Investments:

• An application from one applicant or a family of up to 4 people will cost USD 270,000.

Antigua and Barbuda

Antigua and Barbuda has announced that it will require an additional 30 days to complete formalities and raise the citizenship program threshold.

The current conditions will remain in effect until the end of July 2024.

Here are the key options for participating in their program:

Non-refundable contribution to the National Development Fund (NDF):

• For a family of 1 to 4 people – USD 230,000 (previously – USD 100,000 for both one applicant and a family of 4 people).
• For a family of 5 or more people, the minimum threshold will be USD 245,000.

Contribution to the University of the West Indies (UWI): from USD 300,000 (previously from USD 150,000).
Investments in real estate: the minimum threshold will be USD 325,000 (previously - from USD 200,000).
Investments in business: the threshold will remain at the same level – from USD 400,000.

These changes are aimed at strengthening investment capacity and supporting sustainable development in Caribbean countries.

Stay tuned for more details on new rules and conditions for participation in citizenship by investment programs in the region.