Important news: Caribbean Nations Agree to Increase Citizenship Investment

In a concerted effort to fortify their citizenship by investment (CBI) programs, four Caribbean nations - Dominica, Grenada, Saint Kitts & Nevis, and Antigua & Barbuda - have recently signed a Memorandum of Understanding (MoU). The crux of this agreement revolves around elevating the minimum investment threshold for acquiring citizenship through these programs to $200,000. Effective from July 1st, 2024, this adjustment marks a significant shift in the CBI offerings in the region.

The MoU, signed by the respective Prime Ministers, signifies a pledge towards enhanced collaboration and coordination among the participating nations. It delineates a roadmap for cooperation including various facets of their CBI initiatives. Central to this agreement is the commitment to foster transparency and effective program management through inclusive information-sharing mechanisms.

Moreover, the MoU outlines a comprehensive framework for regulating key aspects of the CBI programs, including pricing, security screening, agent regulations, dispute resolution, and operational standards. A notable provision of the agreement is the stipulation to establish common regional standards for regulatory authorities by June 30th, 2024, thereby streamlining procedures and ensuring uniformity across jurisdictions.

It is important to note that Saint Lucia opted not to join the signing of the MoU, indicating its intent to maintain the current minimum investment requirement of $100,000 for its citizenship by investment program.

For our future clients and partners thinking of acquiring Caribbean citizenship through these programs, the impending changes underscore the importance of seizing the opportunity while the current, comparatively lower investment amounts remain in place.

As the deadline for implementation approaches, prospective applicants are urged to act swiftly before changes take place. NTL Trust is here to guide you through any industry change and help you reach your goals in the most efficient way possible.