**Caribbean Islands Attract Homebuyers with Citizenship by Investment Programs**

**As political uncertainty looms in the U.S., Caribbean nations offer an alluring solution for affluent buyers seeking both residency and security through real estate investments.**

In recent months, the appeal of Caribbean real estate has expanded beyond idyllic beaches and enticing lifestyles as several island nations have implemented citizenship-by-investment (CBI) programs. This has spurred a significant uptick in inquiries from potential investors, particularly among affluent individuals from the United States. While these programs were initially designed to bolster economies, they have also sparked debates about ethics and security.

Prominent countries in the Eastern Caribbean, including Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia, present citizenship options that require as little as $200,000 (£145,000) investment in property. In return, investors receive a passport offering visa-free access to around 150 countries, including the UK and the Schengen Zone. The appeal of these nations is further enhanced by their lack of capital gains and inheritance taxes, making it an attractive option for wealthy individuals.

Nadia Dyson, an estate agent in Antigua, observes a remarkable shift in the market dynamics, with up to 70% of buyers now seeking to obtain citizenship upon purchasing their properties. She highlights that many of these buyers hail from the U.S., driven by a desire for a stable alternative amidst current political upheaval. "We’ve never sold so many before," she states, emphasizing a clear shift from lifestyle buyers to those prioritizing citizenship.

Investment migration experts Henley & Partners report that U.S. citizens have become the primary applicants for Caribbean CBI programs over the past year, followed by investors from Ukraine, Turkey, Nigeria, and China. Such trends reflect a growing desire among Americans for a “backup plan” in anticipation of potential instability.

According to Dominic Volek of Henley & Partners, the advantages of Caribbean passports to facilitate travel appeal to businesspeople who may prefer a less politically controversial passport. “Some clients favor traveling on such a passport for security reasons,” he notes.

There is a growing concern about the implications of CBI schemes. While some view them as economic lifelines, critics argue that they commodify citizenship and may potentially enable financial crime and lax border security. Prime Minister Ralph Gonsalves from St Vincent and the Grenadines has openly criticized these programs, insisting that citizenship should never be for sale.

The European Union has voiced concerns regarding the integrity of CBI applications, threatening visa-free access if regulations are deemed insufficient. In response, Caribbean nations have initiated reforms, including the introduction of rigorous applicant vetting procedures and a commitment to enhanced due diligence.

Dominica's Prime Minister, Roosevelt Skerrit, defends his nation’s CBI program, asserting its transparency while emphasizing the economic benefits derived from these initiatives. Since the program's inception in 1993, passport sales have generated over $1 billion for the country, aiding in various infrastructure projects.

In economic terms, the consequences are significant: CBI programs currently contribute 10-30% to several Caribbean nations’ GDP.

As criticisms continue, some citizens within CBI-implementing countries recognize the necessity of such economic strategies, valuing the financial advancements these initiatives have facilitated. An illustrative case is Robert Taylor from Canada, who notes how his recent property purchase in Antigua not only grants him citizenship but also opens up local business opportunities, confirming that such investments can indeed lead to positive outcomes for both investors and host nations.

In light of ongoing scrutiny, the future of CBI programs may hinge upon the balance between welcoming international buyers, ensuring national security, and upholding local values.