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Caribbean CIP’s response to Pandemic Covid-19

The start and spread of COVID-19 have prompted CIP units to change their program to attract more prospects. Saint Kitts & Nevis has now become the fourth jurisdiction in the Caribbean after Antigua and Barbuda, Saint Lucia and Dominica to come up with an attractive discount offer to position itself competitively in the Caribbean marketplace. Let us have a look at the significant changes and discount offers announced by the CIPs of these countries.

 Changes in Saint Kitts & Nevis Citizenship by Investment Program

st. kitts and nevis citizenship by investment

In a circular issued on July 2nd, 2020, Saint Kitts & Nevis Prime Minister has announced the reduction in donation requirement to obtain citizenship for families up to four members under the Sustainable Growth Fund to USD 150,000 from USD 195,000 until the end of this year.

The announcement came in light of the undergoing COVID-19 crisis and is going to benefit families who are looking for second citizenship in these times of uncertainty.

To know more about Saint Kitts & Nevis Citizenship by Investment Program, Click here.

If you are interested in Saint Kitts & Nevis citizenship, Book a FREE 

no-obligation consultation with our expert.

 Changes in Dominica Citizenship by Investment Program

dominica citizenship by investment-fincasa

Dominica has also expanded the definition of dependents under its Citizenship by Investment Program.

The amendment is as follows: –

The primary applicant can now include a child aged 18 to 30 who would not be attending a university for education or living with them. Under the new rules, the demonstration of the fact that the principal applicant or their spouse supports the child is sufficient.

Likewise, parents and grandparents of the primary applicant or their spouse now do not need to show they live with the principal applicant. The support of the applicant is enough to qualify the parent or grandparent as an eligible dependent.

To know more about Dominica Citizenship by Investment Program, Click here.

If you are interested in Dominica citizenship, Book a FREE no-obligation consultation with our expert.

Changes in Saint Lucia Citizenship by Investment Program

saint lucia citizenship by investment-fincasa

Bond option discount (validity till December 31st, 2020)

  1. To qualify for Citizenship by Investment program, clients can opt for a non-interest bearing bond with a five year holding period, termed as COVID-19 relief bond, for USD 250,000; this is effectively half the price of conventional USD 500,000 bonds for a single applicant. The government has also reduced its administrative fee to USD 30,000 down from USD 50,000, payable once citizenship is approved.
  2. If you want to add one dependent in your application form, you can opt for it with the same bond purchase amount of USD 250,000 but with a holding period of six years.
  3. For adding applications with more than four dependents, an additional USD 15,000 applies.

 Changes in the National Economic Fund option

  1. For the addition of a spouse in your application, the contribution amount is reduced from USD 165,000 to USD 140,000.
  2. For the addition of spouse and two dependents under this option, the contribution amount is reduced by 21% to USD 150,000.
  3. For the addition of more dependents in a family of 4, you have to pay the additional USD 15,000 per dependent, down from the previous USD 25,000.

 Addition of Newborn in Application

  1. The cost of adding a newborn has reduced to USD 500 (down 98% from the previous USD 25,000).

Changes related to the age of dependents

  1. Age limit for considering a child dependent has increased from 18 years to 21 years without the requirement of demonstrating full financial support for the dependent.
  2. The maximum age limit of dependents fully supported by the primary applicant/spouse has now increased from 25 years to 30 years and the requirement for these dependents to be enrolled at a tertiary institution has been removed.
  3. Parents and grandparents can now be qualified as dependents at the age of 55 years (previous minimum qualifying age was 65 years). It is also not mandatory that this dependent lives at the same place as the main applicant.

  Other changes related to dependents

  1. The principal applicant may now include unmarried brothers or sisters who are below the age of 18 years in the application with no special or increased investment. All fees related to siblings are the same as any other qualifying dependent.
  2. A legally adopted child can also be considered as a dependent.
  3. A child born to a citizen or spouse married to a citizen may be added to the application at any time.
  4. A person who was a qualifying dependent before the application for citizenship was made may be added to the form up to 5 years from the date of initial application.
  5. Dependents may be added to an application irrespective of the investment option of the citizen.

To know more about Saint Lucia Citizenship by Investment Program, Click here.

If you are interested in Saint Lucia citizenship, Book a FREE no-obligation consultation with our expert.

 Changes in Antigua and Barbuda Citizenship by Investment Program

 

antigua & barbuda citizenship by investment

Changes in the National Economic Fund option

  1. For the addition of a spouse in your application, the contribution amount was reduced from USD 165,000 to USD 140,000.
  2. For the addition of spouse and two dependents under this option, the contribution amount is reduced by 21% to USD 150,000.
  3. For the addition of any more dependents in the family of 4, you would have to pay an additional USD 15,000 per dependent, down from the previous USD 25,000.

Addition of Newborn in Application

  1. The cost of adding a newborn was reduced to USD 500 (reduced by 98% from the previous US 25,000).

 Changes related to the age of dependents

  1. Age limit for considering a child dependent has increased from 18 years to 21 years without the requirement of demonstrating full financial support for the dependent.
  2. The maximum age limit of dependents fully supported by the main applicant/spouse is now increased from 25 years to 30 years, and the requirement for this dependent to be enrolled at a tertiary institution is removed.
  3. Parents and grandparents can now be qualified as dependents at the age of 55 years (previous minimum qualifying age was 65 years), and it is not mandatory that this dependent lives at the same place as the primary applicant.

 Other changes related to dependents

  1. The Main applicant may now include unmarried brothers or sisters who are below the age of 18 years in the application with no special or increased investment for the addition of siblings. All fees related to siblings are the same as any other qualifying dependent.
  2. A legally adopted child can be now included as dependent
  3. A child born to a citizen/spouse who married a citizen may be added to the application at any time.
  4. A person who was a qualifying dependent before the application for citizenship was made may be added to the form up to 5 years from date of initial application.
  5. Dependents may be added to an application irrespective of the investment option of the citizen.

To know more about Antigua & Barbuda Citizenship by Investment Program, Click here.

If you are interested in Antigua & Barbuda citizenship, Book a FREE no-obligation consultation with our expert.

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