The economic challenges facing the Caribbean notwithstanding, there are indications that amongst global investors the region is still favoured among seekers of sound investments as havens for opportunistic citizenship-seekers.
A recent study by CS Global Partners, an international legal advisory firm specialising in citizenship and residency solutions, points to a surge in the number of citizenship applications for Caribbean islands during recent months, even as the region’s economic woes deepen in the wake of the ongoing Covid-19 pandemic.
CS’ recent disclosure points to rising numbers of investment seekers in several countries in the Caribbean including a number of Caribbean Community (CARICOM) territories. The numbers recently released by the firm point to a 42% increase in the numbers of citizenship seekers targeting the region compared with 2019.
Here in the region, five CARICOM countries: Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and St Lucia, offer Citizenship Through Investment Programmes (CIP) that provide fast-track citizenship to investors delivered against a one-time economic contribution to the country including the purchase of a property, or making a one-time contribution to a government fund. Applicants and their families desirous of such citizenship pay a due diligence fee and undergo background vetting checks.
If only on account of the fact that its citizenship programme is affordable compared to those of other territories in the region, Dominica appears to be favoured by persons seeking citizenship in the region, its minimum qualifying investment being US$100,000. St Kitts reportedly has the oldest programme and the minimum investment is US$150,000.
