The reduced costs of St. Kitts & Nevis and Antigua & Barbuda passports have boosted the interest of investors in the respective citizenship by investment programs of these countries.
These states were already among the leaders of Caribbean citizenship, and the recent changes only strengthened their position in the investment immigration market. So which countryβs offer will be more profitable in the long-term, and why are affluent foreigners seeking a Caribbean passport? Find the answers in our analysis below!
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Letβs list the principal advantages of Caribbean passport programs in general:
There are two investment options available according to the rules of the Saint Kitts and Nevis CBI program:
Saint Kitts and Nevis citizenshipΒ status have no expiration date. The passport is issued for 10 years with a subsequent 10-year automatic renewal.
One should also forget about due diligence fee. The main applicant should pay $7,500 in order to close this amount. However, the sum is reduced when it comes to the principal applicant's spouse or their dependents aged 16 and older. For such instances, the due diligence fee is only $4,000. There is no processing fee for this Citizenship by Investment program.
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TheΒ Antigua and Barbuda citizenshipΒ by investment program was launched in 2013. The holder of this passport can travel visa-free to 150 countries.
According to the official data, close to 2,000 non-nationals have obtained passports of this country in exchange for injecting funds into the National Development Fund. To maintain the status, the investor must be physically present on the islands for at least five days within the first five years of holding the passport. This is a relatively low residency requirement.
Another option for foreign investors is to acquire real estate objects with a price tag of at least $400,000. And one should not forget about investing in the Fund of the University of the West Indies.
The passport of Antigua and Barbuda is valid for 5 years with renewals for similar periods. It is important to note that Citizenship by Investment in this country does not require additional government fees. However, the main applicant should pay processing fees, passport fees, bank charges, and due diligence fee (Due diligence fee for the main applicant is $7,500, but for dependents aged 12-17, it's only $2,000). The processing fee is $30,000 for a family of four.
If you want to know more about the differences and key moments related to each program, do not hesitate to read this article.
CITIZENSHIP-BY-INVESTMENTS PRESENTATION
We have prepared an overview of Residency and Citizenship-by-Investment programs. This is a detailed guide on how you can get a 2 passport and obtain Citizenship- and Residence-by-Investment legally, without having to worry about the hassle of getting a visa.
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Weβll set the record straight. Investing in the government fund is less expensive to obtain your Caribbean passport. But those donations are non-refundable. By contrast, a real estate object can be put back on the market after some time so that you get your investment amount back.
At first glance, the advantages of owning real estate in the Caribbean seem to be noticeable. But one fact that cannot be ignored is that owning a villa in the region can be risky. The islands are located in the tropical hurricane-prone zone, with their economy and infrastructure in constant peril. This explains why most investors prefer the non-refundable donation option.
For those who are still willing to invest in real estate, the island of Antigua would be the more rational option. First of all, leasing real estate is likely to yield a pretty penny with 4-6% profitability. Secondly, in 2017, the island of Antigua has virtually painlessly survived the hurricane season, which, sadly, wasnβt the case with the island of St. Kitts.
Furthermore, the V.C. Bird International Airport in Antigua boasts a modern terminal and several large ports for yachts and cruise liners.
The well-developed tourist infrastructure and excellent transport links are also contributing factors to the prosperity of international tourism and a stable high influx of tourists. In 2019, more than one million tourists visited Antigua and Barbuda, and this trend continues.
Every year, the Antigua Classic Yacht Regatta event is held on the islands just a few days before the renowned Antigua Sailing Week. In addition, the island also hosts the Antigua Charter Yacht Show.
At the same time, thereβs no shortage of luxury real estate objects on Saint Kitts and Nevis. The Robert L. Bradshaw International Airport, as well as the ports of Basseterre and Charlestown, help boost the tourism sector, and the construction of the Christophe Harbor marina, which accommodates superyachts up to 300 feet long, has recently been completed.
It should be noted that one of the key factors for investors in real estate is location. Therefore, the potential investors should be aware that the islands donβt exactly lie in a hurricane-safe zone.
Saint Kitts and Nevis: The following family members are granted citizenship along with the main applicant: the spouse of the main applicant, children under the age of 30, and parents aged 55 years. Passports for newborn children are issued free of charge.
Antigua and Barbuda:Β The spouse of the single applicant, children under the age of 28, and parents aged 65 years and above receive their passports simultaneously with the principal applicant.
To summarize: Comparing passport programs of St. Kitts and Antigua
Comparing the main nuances will surely help you determine which option suits you best:
In an effort to solidify their position in the immigration industry, the Caribbean countries are regularly altering the conditions of their passport programs that range from shortening the list of required documents to lowering the costs.
Today, Antigua and Barbudaβs CBI program is among the most profitable investors with families. You can obtain Caribbean citizenship for a family of up to 6 people for a price of a decent one-bedroom apartment.
On the other hand, Saint Kitts and Nevis passport is very popular and prestigious in the Caribbean. Given the temporary nature of the hurricane relief fund discount, their offer has gained additional weight from investor
Both countries have easy and straightforward application forms. The processing time for St. Kitts starts from 45 days, and the application for Antigua and Barbuda takes from 21 days.
It's hard to answer this question unambiguously, as each of these countries has its own benefits. Both countries offer visa-free travel to a multitude of destinations. Saint Kitts and Nevis Citizenship by Investment program is a bit more expensive, but it has the largest selection of real estate for investment. At the same time, Antigua and Barbuda fit for those who want to get Citizenship by Investment for large families (6 individuals). Due to the investment in the Fund of the University of the West Indies, the main applicant is able to include his relatives for just $150,000.
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