4 Out of 5 Caribbean Citizenship by Investment Programs Raise Their Costs to $200,000 USD

News Details

Four Caribbean countries offering citizenship by investment programs, members of the Organization for Economic Co-operation and Development, have agreed to increase the minimum investment requirement in their programs to $200,000 USD.

The Commonwealth of Dominica, Saint Kitts and Nevis, Antigua and Barbuda, and Grenada made this decision during a virtual signing ceremony, where they committed to enhancing the transparency and integrity of their citizenship by investment programs.

Through a memorandum of agreement, the prime ministers of the four countries agreed to adopt stricter application regulations, including raising the minimum investment requirement with a deadline for implementation set for June 30, 2024. The MOA was signed to address concerns raised by some international entities regarding the fairness and transparency of the program’s prices.

The leaders agreed to standardize minimum prices to promote healthy competition among the programs, in addition to adopting stricter measures regarding the security and transparency of the programs and enhancing cooperation and efforts to raise the standards of security audits. These countries also agreed to disclose the funds received by central banks and establish a regional authority, emphasizing the need for independent financial and operational audits to ensure compliance with best practices.

The MOA also stated that these four countries would set common standards for managing communications and marketing related to the programs and agreed to establish unified regulations to facilitate joint training programs, streamline processes, and maintain integrity. The MOA was developed in line with the six principles adopted in March 2023 by all OECD countries offering citizenship by investment programs, during discussions with the United States. Saint Kitts and Nevis Prime Minister, Dr. Terrance Drew, who currently chairs the OECD, praised the MOA for enhancing best practices and due diligence processes. He emphasized that cooperation would provide a framework for collaboration among OECD member states. He added that this step would demonstrate the seriousness of the four countries in operating investment migration programs that respect the rule of law, are sustainable, and do not harm the interests of the international community.


Finally, the signing of the agreement highlighted the efforts of the Caribbean nations to ensure fairness and credibility in the citizenship by investment programs offered by OECD countries. The MOA will prioritize transparency and cooperation, aiming to enhance investor confidence and maintain the strong reputation of the programs.

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If you would like to learn more about the Citizenship programs by investment and how it aligns with your needs, feel free to schedule a free consultation with one of our investment advisors.