Changes to the Caribbean Citizenship by Investment Program

Effective June 30, 2024, the Memorandum of agreement on changes in Caribbean citizenship-by-investment program comes into effect. Memorandum introduces the minimum investment threshold increase, creation of single information portal and tighter security controls.

Signatory countries to the memorandum:

• Antigua and Barbuda;
• Dominica;
• Grenada;
• St. Kitts and Nevis.

The main changes are:

Raising the minimum investment threshold for citizenship to 200 000 USD

Investment amount must start from 200 000 USD in net form, excluding other contributions and fees. Persons who are already in the citizenship procedure for investments will not fall under the increase of the investment threshold.

Creation of a single portal JRCC (Joint Regional Communications Center)

Countries will create a single portal to share information on candidates for citizenship by investment. Information will include:

• personal information about the applicant;
• data on the size of the investment;
• origin of the investment data.

Objective: to guarantee transparency of the procedure and access member countries to information on applicants from other countries.

Security controls

Countries commit to: 

• conduct post-citizenship monitoring; 
• assist each other in Due Diligence procedures conducting; 
• information exchange on citizenship interviews; 
• exchange information on citizenship denial.

If you are denied citizenship, the other 3 states will be informed.

Marketing

• establishing a unified standard for advertising of the citizenship-by-investment program; 
• banning the use of the phrase “access to visa-free regime”;
• prohibition on usage of participating countries passport covers.

Training

Conducting training for staff processing citizenship applications and bringing all procedural regulations to a uniform standard for fast and efficient processing of applications in all jurisdictions.

These changes are intended to improve the transparency, security, and efficiency of the program. This will improve coordination among participating countries and simplify the process of processing citizenship applications for investment.

As we see, investment programs for obtaining residence permits and citizenship are changing towards increasing the minimum level.  If you decide to start migrating, our Private Clients team is ready to help you choose the right program for you.

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