Caribbean Islands Citizenship by Investment Programs – A Comparison
Antigua and Barbuda, Grenada and Dominica compared: what each programme costs, where each passport travels, and what it means for Indian citizenship.
Written by Guest
May 5, 2024 | 11:11 IST
By Varun Singh
The Caribbean region’s Citizenship by Investment (CBI) programs provide a variety of citizenship choices. Travel access is no longer uniform: Antigua and Barbuda and Grenada nationals can visit the UK without a visa but need an Electronic Travel Authorisation (ETA), while Dominica nationals have needed a UK visa since 19 July 2023. None of the three passports gives visa-free entry to the United States or Canada, and Antigua and Barbuda and Dominica nationals have been subject to a partial US entry suspension under Presidential Proclamation 10998 since 1 January 2026. All three currently have visa-free access to the Schengen Area, but the EU's revised visa suspension mechanism treats the operation of a citizenship-by-investment scheme as a ground for suspending that access, so it may change.
The CBI program in Antigua and Barbuda provides several investment options: a USD 230,000 contribution to the National Development Fund, the same for any family size, or a minimum of USD 300,000 in approved real estate, which cannot be resold for five years. A University of the West Indies Fund option and a business investment route (USD 1.5 million for a sole investor) are also available. Citizens must spend at least 5 days in Antigua and Barbuda within the first five years.
A minimum contribution of USD 150,000 for a single applicant (USD 200,000 for a family of four) must be made to the National Transformation Fund, or USD 220,000 invested in real estate in a project approved at that price option (USD 350,000 in other approved projects, plus a USD 50,000 government fee), to participate in Grenada’s CBI program. Grenada's published USD 150,000 figure sits below the USD 200,000 minimum the Eastern Caribbean citizenship-by-investment countries agreed for 1 July 2024, so it may change at short notice; XIPHIAS confirms the current figure with Grenada's Citizenship by Investment Committee before filing. Grenada is the only one of the three that is a US E-2 treaty country (in force since 3 March 1989) and is not named in Proclamation 10998; whether an individual investor qualifies for an E-2 visa is decided by US consular officers.
Under Dominica’s CBI program, the contribution to the Economic Diversification Fund is USD 200,000 for a single applicant and USD 250,000 for a main applicant with up to three dependants, the amounts in force since 1 July 2024. Alternatively, the applicant may invest a minimum of USD 200,000 in government-authorised real estate, plus a government fee of USD 75,000 for a main applicant alone (USD 100,000 with up to three dependants). Every applicant aged 16 and over attends a mandatory interview. Dominica’s Citizenship by Investment Unit states that applications typically take 3 to 4 months to approval in principle, followed by 3 to 6 weeks to naturalisation.
CARICOM and the Single Market
The Caribbean Community, or CARICOM, is a regional organisation of 15 member states and five associate members that seeks to advance economic cooperation and integration.
The CARICOM Single Market and Economy (CSME) enables nationals of participating member states to open enterprises across the region by facilitating the movement of capital, skills, commodities and services, and the right of establishment. Travel access depends on each country’s own passport, not on CARICOM membership.
Comparing Caribbean Citizenship through Investment Programs
A wide range of Citizenship by Investment (CBI) schemes are available in the Caribbean, and they all have something in common: they appeal to investors looking to acquire a second citizenship because of their shared advantages. The area is a desirable option for people seeking a safe and tranquil place to live because of its temperate climate, breathtaking scenery, affordable cost of living, and low crime rate.
Additionally, all Caribbean CBI programs permit dual citizenship. India does not: under Section 9(1) of the Citizenship Act 1955, an Indian citizen who voluntarily acquires another citizenship ceases to be an Indian citizen automatically. The Indian passport must be surrendered, and Overseas Citizenship of India (OCI) is available afterwards, but OCI is not dual citizenship: it carries no right to vote and no right to buy agricultural land in India. For an Indian applicant, a Caribbean passport therefore replaces Indian citizenship rather than adding to it. Citizenship by itself also does not change where you are resident for tax purposes.
Transferring Citizenship to Upcoming Generations
In the Caribbean, children born within five years of an applicant obtaining citizenship may be registered under Citizenship by Investment (CBI) programs, provided costs are paid. This clause guarantees that future generations will be able to enjoy the advantages of CBI-acquired citizenship, leaving a priceless legacy for families.
Some programmes allow an application to be funded by a third party. Antigua and Barbuda, for example, accepts a benefactor, who is subject to due diligence with a published fee of USD 5,000. The rules on third-party funding differ between the three countries, and XIPHIAS confirms the current position with the relevant citizenship unit before filing.
CARICOM Member States and Associate Members
CARICOM's 15 member states are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago. Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, and the Turks and Caicos Islands are associate members.
These countries provide breathtaking scenery, a variety of cultural experiences, and exceptional prospects for retirement, investment, or second homes. UK access varies by country: among the region's citizenship-by-investment states, Antigua and Barbuda, Grenada and St Kitts and Nevis nationals can visit the UK with an ETA, while Dominica nationals have needed a UK visa since 19 July 2023 and Saint Lucia nationals since 5 March 2026.
Conclusion
The Caribbean offers a diverse range of citizenship by investment programs that cater to various investor needs and preferences, but they now differ sharply on price, travel access and US exposure. For most Indian families the decision turns on three questions: which destinations matter (the UK, the United States, the Schengen Area), what the total cost is once government and due-diligence fees are added, and whether giving up Indian citizenship is acceptable.
(Author is MD, XIPHIAS Immigration)