How to Obtain a Caribbean Passport as an American: A Detailed Guide

Caribbean citizenship programs allow US investors to gain dual citizenship, providing advantages like tax optimization, asset protection, and greater flexibility in estate planning. These programs offer a second citizenship without renouncing US nationality.

Benefits of getting a Caribbean passport as an US investor

Profitable real estate market. Between 2022 and 2023, commercial property investments in the Caribbean proved profitable, especially in hospitality and tourism-related sectors. Some examples include:

• Antigua and Barbuda. Hotel investments delivered strong returns, driven by the island’s growing tourism sector. Occupancy rates increased by 8% year-on-year. The average return on investment in high-end commercial properties reached 5—7% annually. The island’s real estate market remained attractive to high-net-worth investors due to its stability.

• Grenada. Commercial properties, particularly in the tourism and retail sectors, offered returns of 6—8%. Grenada’s expanding eco-tourism industry and a 12% rise in tourist arrivals boosted commercial property performance.

• Dominica. The island’s “Nature Island” branding increased its appeal. Investments in eco-tourism and boutique hotels generated returns of 5—6%. Dominica’s Citizenship by Investment program also spurred demand for hotel developments, leading to consistent growth in commercial property values.

CARICOM business advantages. Investing in the Caribbean Community businesses is especially profitable for citizens:

• In Antigua and Barbuda investments in eco-friendly tourism and agriculture-related CARICOM businesses have recently grown by 7% annually. Key sectors, including sustainable resorts and agricultural exports, yielded returns of 5—7%.

• Grenada’s CARICOM business sector, especially in tourism and education, grew by 8% in 2023. US investors focused on luxury resorts and educational institutions, with returns ranging from 6—9%.

• In Dominica, known for its ecotourism and renewable energy projects, CARICOM business investments offered returns of 5—7%.

Possible tax incentives. The US requires its citizens to file tax returns on worldwide income, regardless of where they live. However, most Caribbean countries, including Antigua and Barbuda, Grenada, and Dominica, do not tax foreign-sourced income. US taxpayers can also claim the Foreign Earned Income Exclusion (FEIE), which allows exclusion of a certain amount of foreign-earned income. The Foreign Tax Credit (FTC) allows offsetting US taxes by the amount paid to foreign governments on the same income.

Convenient proximity to the US by air. For example:

• Antigua and Barbuda is located about 1,800 miles southeast of Miami, Florida. Direct flights from Miami to Antigua take approximately 3.5 hours;
• Grenada is about 2,100 miles from Miami. Direct flights from Miami to Grenada take around 4 hours.
• Dominica is approximately 2,000 miles from Miami. While there are fewer direct flights, connections through hubs like Puerto Rico or Antigua result in total travel times of 4 to 5 hours.

Possible revoking of US citizenship without losing the quality of life. This option has been especially popular among US retirees who wished to move to a tropical country. While most Caribbean CBI countries allow dual citizenship, many revoke their US passports.

The Caribbean passports still provide:

• visa-free travel to 140+ countries, including the Schengen Area and the EU;
• tax incentives, including no wealth, inheritance, capital gains or export taxes, without a US taxation burden;
• eligibility for a B-1/B-2 visitor visa to the US for 10 years for visiting friends and family;
• access to Commonwealth of Nations benefits, including education;
• access to quality healthcare which is considerably more affordable than in the US.

Citizenship by investment programs for Americans in the Caribbean

Antigua and Barbuda Citizenship by Investment Programme

Option 1. Donation to National Development Fund (NDF)

• single applicant or family up to 4: $230,000;
• family of 5 or more: $245,000;
• additional fees: $30,000 processing fee for up to 4 members; $10,000 for each additional dependent.

Option 2. Donation to University of West Indies Fund (UWI)

• minimum donation: $300,000;
• family of 6 or more (includes one year of paid tuition for one family member).

Option 3. Real estate investment

• minimum investment: $325,000 into government-approved real estate;
• additional fees: $35,000+.

This is a refundable option. To obtain Antigua and Barbuda citizenship through it, investors must hold the property for five years. During the holding period, they can earn dividends.

Option 4. Business investment option

• single investor: $1.5 million;
• joint investment: $5 million (with each investor contributing at least $400,000);
• additional fees: $37,500.

This is a refundable option as well. Investors must hold the investors for five years.

The Antigua and Barbuda CBI Programme allows adding family: spouse, children under 18, dependent children under 30, parents/grandparents over 55, and unmarried siblings of the main applicant and spouse.

Dominica Citizenship by Investment Programme

Option 1. Donation to the Economic Diversification Fund (EDF)

• for a single applicant — $200,000+, for family of up to 3 — $250,000+;
• additional dependents under 18: $25,000 each;
• additional dependents over 18: $40,000 each.

Option 2. Real estate investment

• minimum investment: $200,000 into government-approved real estate;
• government fees: $35,000+.

This is a refundable option: investors must hold the property for three years before reselling. If reselling to another CBI investor, the holding period extends to five years. During the holding period, they can earn dividends.

The Dominica CBI Programme allows adding family: spouse, children under 18, dependent children under 30, parents/grandparents, and siblings of the main applicant.

Grenada Citizenship by Investment Programme

Option 1. Donation to the National Transformation Fund (NTF)

• single applicant or family up to 4: $235,000+;
• additional dependents under 18: $25,000 each;
• additional dependents over 18: $50,000 each.

Option 2. Real estate investment

• for a single investor — $350,000+, for a joint investment — $270,000+ each into government-approved real estate;
• government fees: $50,000 for government contribution, plus additional processing fees.

This is a refundable option. Investors must hold the property for five years. During the holding period, they can earn dividends.

The Grenada CBI Programme allows adding family: spouse, children under 18, dependent children under 30, parents/grandparents, and unmarried siblings.

Process of getting a Caribbean citizenship by investment

While the process differs for each country, there are some similarities — see below.

1. Select a Caribbean country with a citizenship program for your goals.

2. Pick an investment option. The options usually include a non-refundable donation, a real estate, or, in some cases, a business.

3. Engage a licensed agent. Per law, applications for Caribbean CBI programs must be submitted through licensed agents, never directly. The agent will assist with the documentation process.

4. Prepare documentation, including:

• proof of identity;
• financial records;
• police clearance certificates;
• health certificates.

5. Submit your application. Your agent will submit the application and required documents to the relevant government authorities for review.

6. Undergo Due Diligence. A background check will be conducted to ensure there are no legal or financial issues.

7. Receive approval in principle. Once Due Diligence is completed with no issues, the government will grant approval in principle.

8. Make your investment. After approval, complete the required investment, either through a donation or real estate purchase.

9. Obtain citizenship. Once the investment is confirmed, citizenship certificates and passports are issued. Processing takes 4 to 6 months, depending on the program.

10. Enjoy citizenship benefits. After approval, you can enjoy benefits such as visa-free travel, tax advantages, and passing on citizenship to future generations.

In conclusion

A Caribbean passport through Citizenship by Investment (CBI) offers US investors numerous benefits, including tax advantages and profitable real estate opportunities. Even if some US investors may choose to revoke their US passport without losing much in terms of lifestyle, as Caribbean passports still provide access to healthcare, education, and visa-free travel to 140+ countries.