The five main Caribbean nations offering Citizenship by Investment programmes not only offer excellent visa-free access to the EU, Schengen Zone, UK and more, they also have great visa-free arrangements with their Caribbean neighbours, due to the CARICOM agreement.
CARICOM was initially formed in 1973 by several English-speaking Caribbean countries. The main purpose of CARICOM was to create a single market for labour, goods and services for the Caribbean Community, promoting economic, social and political integration amongst the region. The Caribbean community currently consists of 15 full members and 5 associate members covering a total population of roughly 16 million. The CARICOM agreement is often likened to that of the Schengen zone in Europe as it allows its members to move freely between the countries.
Only five countries out of the 15 CARICOM members offer direct Citizenship by Investment programmes. They are Antigua and Barbuda, Saint Kitts and Nevis, Dominica, Grenada and St Lucia. Citizenship in one of these mentioned nations allows the passport holder to spend up to six months a year in other CARICOM nations, with no need to apply for a visa.
This is often a factor that is overlooked but has become increasingly popular with investors in recent years, especially as interest from the US market has surged. Many US investors are already familiar with countries such as Barbados and the Bahamas which are popular vacation destinations, but unfortunately, these CARICOM nations do not offer direct Citizenship by Investment programmes. By investing for citizenship in say Grenada or Saint Kitts, the investor can move freely between the other CARICOM countries as well as spend up to six months a year in the UK and up to 90 days a year in the Schengen zone. The length of stay in each CARICOM nation depends on the country but most have a six-month term.
The five nations offering CBI are also part of the OECS and passport holders of this group can move freely between these nations with no time restraints at all. For example, a Dominican Citizen can spend unlimited time in Grenada or Antigua should they wish to.
Gaining citizenship in one of the above mentioned Caribbean countries could be an ideal solution for those who may be looking to gain a non-domicile tax status and move between several countries over the course of the year.
CARICOM full members: