Five OECS nations increase minimum investment thresholds for CBI
The decision was taken to implement arrangements agreed in the MoA signed on March 20
Five Caribbean countries with Citizenship by Investment (CBI) Programmes have increased the minimum investment thresholds equivalent to or more than $200,000.
The decision was taken to implement arrangements agreed in the Memorandum of Agreement (MOA) signed on March 20, 2024, by heads of the governments of the Organisation of Eastern Caribbean States (OECS) member states.
Effective July 1, 2024, each nation including Antigua and Barbuda, Dominica, Grenada, St Lucia and St Kitts and Nevis, has now released updated regulations or memos reflecting these changes.
Making these changes last year, St. Kitts and Nevis was the first country to implement the increased investment for their CBI programme. Similarly, Dominica and Grenada have also moved swiftly, issuing its Gazetted Regulations to reflect the new minimum investment thresholds, with the changes taking effect.
In Antigua and Barbuda, the government has issued a memorandum detailing the increased price thresholds, which are set to come into effect once the new regulations are gazetted, proposed for July 30, 2024.
Initially, Saint Lucia was not part of the March 2024 MOA. However, following international pressure and concerns about maintaining the integrity and reputation of Caribbean CBI programmes, the island nation decided to join the agreement a few months later during CIS event in Grenada.
Antigua and Barbuda
New Investment Threshold: The donation requirement for single applicants and families up to three members is set at $230,000, increasing to $245,000 for families of five or more. A processing fee of $30,000 applies to families of four, with $10,000 for each additional dependent. The real estate investment threshold is now $325,000, with government fees for a family of four at $30,000.
Dominica
New Investment Threshold: For a single applicant, a donation option requires a $200,000 investment, while $250,000 covers the main applicant and up to three dependants. Additional dependants under 18 cost $25,000 each, and those 18 and older, $40,000 each. Real estate investment is also set at $200,000.
Grenada
New Investment Threshold: The donation option for a single applicant costs $235,000, covering up to three dependents but excluding parents under 55 and siblings. Additional charges are $25,000 for extra children or parents aged 55 and older, $50,000 for younger parents, and $75,000 for siblings. Single investors must invest at least $350,000 in real estate, or $270,000 each for joint investors. The government fee is $50,000.
St Kitts and Nevis
The investment for a single applicant through donation remains at $250,000, but now also includes up to three dependants. Each additional dependant under 18 costs $25,000, and $50,000 for those 18 or older. The real estate investment minimum is $400,000.
Saint Lucia
New Investment Threshold: The donation option for single applicants is set at $240,000, which covers up to three dependants. Additional fees apply for dependants: $10,000 for those under 18 and $20,000 for adults. The real estate investment minimum is $300,000. Government fees are $30,000 for singles, increasing to $45,000 for a couple.