Fee Changes and Announcements from the Caribbean CIPs
August 10, 2020 - News Antigua and Barbuda Dominica St Kitts and Nevis St Lucia Grenada
The Citizenship by Investment Programs of the Caribbean nations are widely acknowledged for the life-changing impact they have on the lives of individuals who have invested in these programs to ensure long-term security for themselves and their families. They have also played a significant role in the development of these small island nations by building social security schemes, funding infrastructure development projects and enabling swift hurricane disaster recovery.
Below are some of the key changes introduced in the past few months to answer the challenges of the Covid 19 pandemic and continue to attract investment from qualifying individuals and their families.
Dominica allows grandparents (and their spouses) as well as siblings between the age of 18-25 of the main applicant or their spouse to qualify as dependents, as long as they are substantially supported by the main applicant or spouse:
- Siblings must be single and childless to qualify. Younger siblings can also qualify with consent form their legal parental guardians.
Dominica is accepting completed applications uploaded through its online portal:
- Original physical documents will still need to be submitted at a later stage and will be deemed not to have expired if they were valid at the time of digital upload.
Dominica announces changes in Government Fund investment contributions:
- Single Applicant: A non-refundable contribution of USD 100,000
- Main Applicant + Spouse: A non-refundable contribution of USD 150,000
- Main Applicant with up to 3 qualifying dependents: A non-refundable contribution of USD 175,000
- For any additional qualifying dependent, other than a spouse: A non-refundable contribution of USD 25,000 per dependent
- For an Eligible Sibling dependent (18-25 years old), a non-refundable contribution of USD 50,000 per sibling
Dominica announces changes in government fees for Real Estate Investment:
- An applicant must purchase authorized real estate to the minimum value of USD 200,000. The real estate may be re-sold after 5 years from the original purchase date.
The following Government Fees are also payable:
- Single Applicant: USD 25,000
- Family of up to 4 including main applicant and up to 3 dependents: USD 35,000
- Family of up to 6 including main applicant and up to 5 dependents: USD 50,000
- Family of 7 or more, including main applicant and 6 or more dependents: USD 70,000
- Eligible Sibling (18-25 years old): USD 50,000
- Eligible Sibling (below 18 years old): USD 25,000
St. Kitts & Nevis
St Kitts and Nevis announces a 6-month Limited Time Offer of USD150,000 for up to a family of four under its Sustainable Growth Fund:
- Each additional eligible dependent will require a non-refundable contribution of USD 10,000
Approved applicants and accompanying family may invest in St. Lucia government bonds:
- Main Applicant (5-year bond): USD 250,000
- Main Applicant + Spouse (6-year bond): USD 250,000
- Main Applicant and up to 4 Qualifying Dependents (5-year bond): USD 300,000
- Main Applicant and up to 4 Qualifying Dependents (7-year bond): USD 250,000
- Fifth Qualifying Dependent and onwards: USD 15,000 per additional dependent
Grenada warns that illegal discounting by marketing agents could lead to revocation of citizenship:
- All applicants are reminded that buybacks and rebates are only permitted after the statutory 5-year holding period after obtaining citizenship.
Antigua and Barbuda
Antigua and Barbuda approves Limited Time Offer for adding dependent children until 31st October 2020:
- Children between 0-5 years old can be added to the application for USD 10,000.
- Children between 6-17 years old can be added to the application for USD 20,000.
Antigua and Barbuda new 2020 investment option: University of the West Indies Fund:
- Applicants can make a non-refundable contribution of USD 150,000 for a family of up to 6 people (minimum).
- An additional USD 15,000 per person is required from the seventh family member onwards.
- In addition to citizenship, this investment option entitles one member of the family to a one-year scholarship (tuition only) at the University of the West Indies.
Antigua and Barbuda also announced changes to its government processing fees for its NDF and Real Estate Investment Options:
- An increase from USD 25,000 to USD 30,000 for the Main Applicant and up to 3 qualifying dependents.
- An additional fee of USD 15,000 will be added per qualifying dependent from the 4th dependent onwards.
- Government processing fees are waived for the University of the West Indies Fund option.
For more information on any of the above amendments and announcements and to assess the eligibility for citizenship by investment for you and your family, please contact PassPro. As an authorized agent for the official Citizenship by Investment programs of Dominica, St Kitts and Nevis, Grenada, Antigua and Barbuda and St Lucia, we will be happy to guide you on the legal requirements for applying for citizenship that ensures the best chance of obtaining a successful approval in a speedy and hassle-free fashion.
Limited Time Offer – Reduced Fees for the Addition of Dependent Children Until October 31st 2020. The Antigua and BarRead More