ARTICLE
17 April 2024

Top Citizenship By Investment (CBI) Programs To Consider In 2024

HG
Harvey Law Group

Contributor

Harvey Law Group (HLG) is a leading multinational law firm headquartered in Hong Kong with over 20 offices worldwide. Founded in 1992 by Jean-François Harvey, HLG has an extensive track record and deep sector expertise in immigration law. The HLG team provides legal and advisory services to individuals and families on immigration, residency and citizenship, as well as a comprehensive range of business services for international corporations across multiple jurisdictions in Asia, North and South America, Europe, Africa and the Middle East. HLG is a Foreign Law Firm registered with the Law Society of Hong Kong Its lawyers are qualified and registered in various jurisdictions including, Québec and Ontario Bars in Canada, England & Wales, France, Thailand, Vietnam and Grenada. https://harveylawcorporation.com/
In today's unpredictable geopolitical shifts, many investors consider acquiring additional citizenship through investment as a contemporary form of insurance.
Worldwide Immigration
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In this article, we give our reviews and picks of:

  • Countries with the most valuable citizenships in 2024,
  • CBIs that offer the best value for Single Persons and Families
  • Passport that offers the most benefit when you become a holder.

What are the Benefits of Acquiring a New Passport via Citizenship by Investment Programs?

In today's unpredictable geopolitical shifts, many investors consider acquiring additional citizenship through investment as a contemporary form of insurance. These supplementary citizenships often provide heightened mobility, granting access to a much broader range of destinations. This is particularly favorable during times of urgent necessity.

Individuals seeking retirement in tax-friendly, cost-effective destinations with a superior standard of living also look to these programs as they offer additional family benefits such as access to world-class education and healthcare services.

In the eyes of our clients, such opportunities present one of the trusted and effective means to diversify assets and mitigate liabilities. For some, CBI represents a more efficient avenue to participate in the flourishing tourism industry and real estate market of the Caribbean where many of these programs operate.

Which Programs are Considered the Top Citizenship by Investment Programs?

The five Caribbean programs—Antigua & Barbuda, Dominica, Grenada, St. Kitts & Nevis, and St. Lucia—are widely regarded as some of the most appealing options. The combination of affordability and efficiency in processing makes the Caribbean programs stand out in the realm of CBI programs.

Which of These Caribbean Programs Offers the Best Value via Donation?

The lowest outlay option among the Caribbean programs is invariably the government fund donation pathway. The following table demonstrates the costs for single applicants under each program, with Antigua & Barbuda, Dominica, and St. Lucia offering the lowest pricing.

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In contrast, as shown in the next table, bringing immediate families may incur higher donation amounts. Notably, Antigua & Barbuda remains the lowest cost for families pursuing citizenship in the Caribbean—the donation sum stays the same as for single applicants and permits up to 3 dependant-beneficiaries (spouse and children).

1452786B.jpg

Which of These Programs Offers the Best Value via Real Estate Investment?

Real estate is another common investment regime among the Caribbean programs. As illustrated, investors prefer Dominica for its combination of the lowest investment threshold1 and the shortest holding period of three (3) years, which is followed by Antigua & Barbuda and St. Lucia with the same investment amounts but at two (2) extra years.

1452786C.jpg

Another intriguing option under the broad category of real estate investment is the purchase of equities in approved commercial real estate, such as that offered under the Grenada program. Some developers even offer a competitive 3-4% guaranteed return in addition to a full buy-back at 100% of the original value after a 6-year holding period.

Application Processing Time

Although it may vary, application processing time for these programs typically ranges between 3 to 6 months.

Our Recommendation

All Caribbean Citizenship by Investment Programs, as previously illustrated and explored, share several positive similarities. Firstly, unlike many countries where permanent residents are required to maintain residence for a substantial period each calendar year to retain their green cards, these destinations impose minimal to no requirements on maintaining long-term physical presence. Moreover, these programs have minimal requirements regarding applicants' educational and professional backgrounds, linguistic capabilities, and more. Lastly, passport holders of these countries can enjoy significant tax benefits.

While all these programs allow applicants to hold multiple passports, one of the most attractive features is the excellent mobility offered by Caribbean passports. Holders benefit from visa-free and visa-on-arrival treatments in hundreds of countries and destinations globally. For instance, as of the current writing, an Antigua & Barbuda passport provides visa-free access to 165+ countries and territories. Even with the least, a Grenada passport offers an impressive 140+ destinations visa-free or on-travel, allowing holders to apply for an E-2 treaty investor visa and relocate with their family to the United States. Another benefit is that holders of these Caribbean passports are also offered the opportunity to live, work, and settle in any other member of the CARICOM Single Market and Economy (CSME) states.

In terms of the pricing aspects, Dominica, St. Lucia, and Antigua & Barbuda offer the lowest investment amount for a single applicant, which are some of the lowest requirements of any program worldwide. However, Antigua & Barbuda is the preferred option for those who may want to apply with their family or additional dependents, as the program has the same low basic donation amount of 100,000 for up to 4 dependents.

Among the Caribbean CBI programs explored, however, St. Lucia has the unique offer of 4 different investment options: donation, real estate investment, as well as investment in either government bonds or business enterprises. Particular to St. Lucia, the government bond option is an attractive option to many as although no interest is generated, this investment is risk-free as the government pays back the bond in full after 5 years.

In Summary

While several programs worldwide, including those in Vanuatu, France, the UK, the US, Australia, and others, deserve honorable mentions, we believe that the five Caribbean countries possess tangible and unparalleled advantages in terms of cost, processing timeline, and truly global mobility. These factors make them particularly noteworthy in the realm of investment-based immigration. Investors contemplating the benefits of Citizenship by Investment should seek advice from seasoned professionals experienced not only in the documentation, preparation, and submission of investor immigrant applications but also in recommending the program that best suits their unique needs.

At the end of the day, we understand that often immigration can be an overwhelming and daunting experience. If you are interested in learning more, please contact your local HLG office here for more details. Founded in 1992, Harvey Law Group (HLG) is a leading multinational law firm with offices across Asia, North and South America, Europe, Africa, and the Middle East to cater to your specific needs for immigration and beyond.

Footnote

1. It should be noted that, in addition to the minimum investment, there are other costs to be considered, including Legal Fees, Application Fees, Due Diligence Fees, Naturalization and passport Fees, Administrative Costs, Bank Due Diligence and Transfer Fees, and conveyancing charges.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

ARTICLE
17 April 2024

Top Citizenship By Investment (CBI) Programs To Consider In 2024

Worldwide Immigration

Contributor

Harvey Law Group (HLG) is a leading multinational law firm headquartered in Hong Kong with over 20 offices worldwide. Founded in 1992 by Jean-François Harvey, HLG has an extensive track record and deep sector expertise in immigration law. The HLG team provides legal and advisory services to individuals and families on immigration, residency and citizenship, as well as a comprehensive range of business services for international corporations across multiple jurisdictions in Asia, North and South America, Europe, Africa and the Middle East. HLG is a Foreign Law Firm registered with the Law Society of Hong Kong Its lawyers are qualified and registered in various jurisdictions including, Québec and Ontario Bars in Canada, England & Wales, France, Thailand, Vietnam and Grenada. https://harveylawcorporation.com/
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