“Check out the link to find out the current investment amount for the Caribbean CBI programs, https://ntltrust.com/news/industry-updates/post-moa-comprehensive-update-on-the-caribbean-cbis/“
In a significant development, four Caribbean countries—Antigua and Barbuda, Dominica, Grenada, and St. Kitts and Nevis—have signed a Memorandum of Understanding (MoU) to increase the minimum investment threshold for their Citizenship by Investment (CBI) programs to US$ 200,000. This change, effective from 1st July 2024, aims to harmonize the investment requirements across these nations.
This move highlights the resilience and collaborative spirit of the Caribbean nations in enhancing the integrity and value of their investment migration programs. The MoU also emphasizes increased transparency, stricter due diligence, and better regulation of CBI agents. Investors are encouraged to act swiftly and complete their investments until the June 30 deadline to benefit from the current, lower investment requirements.
Historical context
Since its inception, the CBI program has been instrumental in diversifying Dominica’s economy. With investments channeled into healthcare, infrastructure, real estate, and tourism, the program has significantly boosted the island’s development. Between 2017 and 2020, it generated $1.2 billion in revenue.
Benefits
- Global Mobility: Dominica citizens have the advantage of easy entry into over 145 countries.
- Tax Advantages: No taxes on foreign income, wealth, gift, inheritance, or capital gains.
- Program Affordability: Investment starts at US$ 100,000 for a single applicant via the donation route, with processing times of 3-9 months, and the ability to include family members.
Investment options
- National Development Fund (NDF): Non-refundable contribution to a government fund, starting at US$ 100,000 for a single applicant. This price will increase to US$ 200,000 effective 1st July 2024.
- Real Estate: Investment in government-approved properties with a minimum value of US$ 200,000, requiring a minimum holding period of three years.
Requirements
Applicants must be over 18, in good health, of good moral character, and have no criminal record. The application process involves thorough background checks and the submission of comprehensive documentation. Feel free to contact us for the exact details and list of requirements.
In sum, while the Dominica Citizenship by Investment program offers a cost-effective route to citizenship, prospective investors should act quickly to benefit from the current investment rates before the new threshold takes effect on 1st July 2024. This recent MoU showcases the resilience and commitment of Caribbean countries to maintain the integrity and competitiveness of their CBI programs. With proper guidance, the benefits of Dominica citizenship can be substantial, offering enhanced global mobility, tax advantages, and business opportunities.
