The Caribbean CBI nations have agreed and signed an MOU to increase the minimum investment to $200,000 (from current $100,000) to harmonise the pricing structure. St.Kitts has already implemented the $250,000 pricing since Jul 2023. By Jun 30, 2024, Dominica, Grenada and Antigua will be increasing their minimum investment to $200,000 or more from the current pricing.
MoU on CBIPs
The Leaders of Antigua & Barbuda, the Commonwealth of Dominica, and Grenada for joining forces with the Federation of St Kitts and Nevis in executing an Historic Memorandum of Agreement (MOU) to strengthen the Citizenship By Investment Programmes (CBIPs) implementing new set of rules and regulations.
Price Increase
The following programs will be affected as a result of this new rule change.
- Dominica – MoU signed – Effective from Jun 30, 2024
- Saint Lucia – MoU signed – Effective from Jun 30, 2024.
- Grenada – MoU signed – Effective from Jun 30, 2024
- Antigua & Barbuda – MoU signed – Effective from Jun 30, 2024
- St.Kitts & Nevis – MoU signed – Already Implemented on Jun 30, 2023.
Common Standards
The Memorandum of Agreement, dated March 20, 2024, also sees the four nations agreeing to—
- To harmonize the minimum investment threshold of their CBIPs to an investment sum of at least US$200,000 no later than June 30, 2024
- Bring an end to ‘underselling’, removing discounting on the CBI investments actual amount of funds received for CBI applicants.
- Share information on CBIP applicants;
- Implement enhanced transparency measures such as the disclosure of funds received by CBIPs, the use of the proceeds of CBIs and to conduct independent financial and operational audits to assess CBIs compliance with best practice standards;
- Assign or establish a regional competent authority to set standards in accordance with international requirements and best practices and to regulate the CBIPs;
- Establish common standards to manage the communications and promotion of the CBIPs;
- Establish common standards for the regulation of agents operating in the CBIPs; and
- Facilitate joint training programs and capacity-building initiatives for their respective officials and agencies involved in the administration of CBIPs.
We ask prospective clients to apply well before the Jun 30, 2024 to take advantage of the current reduced pricing.
