Caribbean CBI to Double in Price
Last week the Prime Ministers of four Caribbean nations offering CBI programmes (Antigua & Barbuda, Dominica, Grenada, and Saint Kitts & Nevis) all signed a memorandum of understanding (MOU) aimed to improve the integrity and values of their citizenship by investment programmes.
This agreement establishes a framework for cooperation and information exchange within the region, strengthening citizenship by investment best practices. Among the key points of the agreement is the impending price increase across all four countries, doubling the minimum investment threshold. Here are the highlights:
- Adjustment in Pricing: All parties commit to raising and aligning the minimum investment threshold to $200,000 USD by June 30th, 2024, creating a limited window of opportunity to apply under the current lower investment requirements.
- Transparency and Data Sharing: All parties agree to share data on applicants, funds and compliance through a digital shared portal in line with best practices.
- Regulation: A regional competent authority is being established to enhance standards in line with international requirements and best practices for regulation.
- Security: Common protocols for security checks and due diligence requirements are established, including application interviews
This landmark agreement marks a significant stride in the continuous advancement of the the Caribbean’s Citizenship by Investment sector and the wider investment migration industry, cementing a robust foundation of cooperation and best practices. Although Saint Lucia has not signed the MOU, they are expected at some point to join the group.
Residency and citizenship by investment programmes are rising across the world, reflecting demand and how valuable these options are for many. However, these programmes are becoming increasingly stringent and more costly. In the last six months we have seen rises in Greece, Portugal and now four countries in the Caribbean.
Typically it can take many investors up to three months to prepare an application. La Vida’s exclusive client portal and our team of in-house processors can help accelerate this process. With prices set to double in the coming months, we encourage investors to act promptly to secure their CBI application under the current pricing regulations. By doing so, significant savings of up to $100,000 may be possible.
Contact our advisors today for a personalised quotation and to assess your chances of getting ahead of this rise.
