As we enter 2024, investors are poised to seek opportunities to diversify their portfolios and plan for the year ahead. It is paramount than ever to look towards securing your and your family’s future through citizenship by investment (CBI) programs, especially with many governments initiating changes to reinforce their program’s position as an appealing investment. Below is a round-up of the most sought-after programs in 2024 and why these programs continue to be popular.
Antigua: Cost-Effectiveness for families and greater inclusion
Antigua has long been a popular destination for investors seeking second citizenship, and it continues to be popular among CBI programs in 2024 as the most cost-effective program for big families.
To date, the applicant can obtain citizenship by investing in a government-authorized real estate projects for at least USD 200,000, making a non-refundable contribution to help improve the country’s development through its National Development Fund for USD 130,000 for a family of four, or making a non-refundable contribution to the University of West Indies Fund for at least USD 150,000 covering a family of six.
The recent inclusion of China in Antigua’s visa-free access list in addition to desirable destinations such as the UK, Schengen states, Singapore and Hong Kong upping the numbers to 152 countries opens doors to a vast pool of potential investors. Passport holders of Antigua can now visit China without prior visa arrangements. Chinese nationals can now explore business ventures, investment opportunities, and leisure travel in Antigua without the hassle of a visa. This move fosters economic ties between the two nations and positions Antigua as a strategic destination for Chinese investors seeking international diversification and vice versa.
These factors reinforce the island as a prime destination for international investors. As the Caribbean gem continues to evolve and welcome diverse opportunities, it stands poised to become a hub for global investment, offering a unique blend of natural beauty, economic potential, and cultural richness. Investors seeking a gateway to the Caribbean should undoubtedly keep a keen eye on Antigua and its burgeoning prospects.
Saint Lucia: Game-changing infrastructure
Saint Lucia has gained prominence and will continue to be an attractive destination for individuals seeking a second passport through its CBI program in 2024. For single applicants, the allure of Saint Lucia lies in its unparalleled cost-effectiveness, offering a streamlined and efficient pathway to citizenship without imposing significant financial burdens.
Among its counterparts, Saint Lucia offers much wider and flexible investment options, and with the addition of the infrastructure option under the Enterprise Project, this further reinforces Saint Lucia’s spot as a lower cost program. Investors can choose to invest in the following upon the grant of Saint Lucia’s citizenship:
Saint Lucia’s passport also offers single applicants instant visa-free travel to an impressive 146 countries. This includes coveted destinations such as the Schengen countries, the United Kingdom, Singapore, and Hong Kong. The extensive list of visa-free destinations enhances the global mobility of Saint Lucians, making it an appealing choice for those seeking hassle-free international travel opportunities.
As the geopolitical dynamics continue to shift, Saint Lucia remains a steadfast and affordable haven for those looking to secure a brighter future through citizenship by investment.
Dominica: A Reputable Passport Despite Visa-Free Adjustments
Last year has paved the way for notable adjustments to Dominica’s visa-free access as well as welcomed nationalities in the program. Despite these changes, Dominica still stands out as a highly regarded option for investors seeking a reputable passport in 2024.
The adjustment in visa-free access to the United Kingdom for Dominican passport holders has garnered worldwide attention. While this may be perceived as a setback, it’s crucial to recognise that Dominica’s CBI Program is not solely based on access to the UK. The program’s strength lies in its overall global mobility, offering visa-free or visa-on-arrival access to many other countries. Instant visa-free to 144 countries, including the Schengen States, Singapore, Hong Kong, and China. Dominica’s passport is regarded as highly reputable that obtaining visas is an easy barrier to break.
One of the critical advantages is the expeditious processing time associated with obtaining Dominica citizenship. The average processing period ranges from 4 to 6 months, making it one of the quickest routes to acquiring a second passport.
Presently, Dominica’s position as one of the most cost-effective programs highly attracts investors to its CBI program. Donation to Dominica’s Economic Diversification Fund starts at USD 100,000 while Real Estate Investment starts at USD 200,000.
Grenada: Investor-friendly policies
Launched in August 2013, The Grenada Citizenship by Investment Program continues to offer investors a range of advantages. These include visa-free entry to Schengen countries, the UK, China, and other destinations.
Notably, Grenada stands as the sole Caribbean nation with a CBI program holding a treaty with the United States that makes it highly sought after. This unique feature allows Grenada passport holders to apply for the E-2 USA ‘Investor Visa,’ providing them with the opportunity to reside in the USA. Furthermore, applicants can acquire irrevocable citizenship and a passport without the need to reside in Grenada or relinquish their existing nationality.
Grenada’s citizenship can be obtained by either donating at least USD 150,000 to the government fund or investing in government approved projects for a minimum of USD 220,000.
St Kitts: Stability and resilience through time
Established in 1984, the St. Kitts and Nevis Citizenship-by-Investment Program is the oldest and among the most popular reflecting a commitment to international mobility, making it an attractive choice for those seeking a secure and advantageous citizenship solution. With an average processing time of four months and visa-free access to 156 countries, including Schengen states, the United Kingdom, Switzerland, Singapore, Hong Kong, and Turkey.
Investment options include a USD 250,000 donation to the Sustainable Island State Contribution (SISC), real estate acquisition for at least USD 400,000, or contribution to approved public benefit projects with family inclusion extending to a spouse, children under 25, and parents of the main applicant or spouse aged 65 and above.
The St. Kitts and Nevis Citizenship-by-Investment Program remains a favourite, providing an efficient and accessible route to global citizenship, marked by its longstanding history, diverse investment options, and extensive visa-free travel privileges.
The future of CBI
In 2024, Antigua, Saint Lucia, Dominica, Grenada, and St. Kitts stand out as prime options, each offering unique advantages for different investor profiles. Whether you are a large family or a single applicant looking for an affordable solution, or an investor valuing a reputable passport, these programs have something to offer.
As geopolitical landscapes continue to shift, staying informed about the latest developments in citizenship by investment programs is crucial for making sound investment decisions this 2024.
To learn more about the opportunities available to you, reach out to one of our experts today.
