Having a second passport allows you to plan strategically your future, to guarantee financial freedom, to create a secure future for your family, as well as to enhance global mobility.
This article deeply examines available citizenship investment programs in Oceania and Caribbean. We will delve into comparing minimum investment amounts, involved due diligence costs and other perks to find out the cheapest economic citizenship program.
Top 5 Criteria to find Cheapest Citizenship by Investment Program
Available Investment Options
Most of economic citizenship programs offer more than one route to get a citizenship.
For instance, Saint Lucia CBI program allows investors to invest into government bods. The CBI program of St Kitts offers financing of public benefit projects throughout the island. Other countries like Grenada or Nauru accepts donations to national development funds aimed to finance public infrastructure.
The selection of particular investment option is closely connected with your future goals. If you plan to live in a country after getting a citizenship, the real estate investment sounds to be a good plan. If, however, the aim of getting a second passport is the access to global mobility, in that case donation option might be the best way to do things.
Number of Applicants
The sum of a final investment significantly depends on the composition of a family. The same CBI program can be the cheapest for a single applicant and the most expensive for a big family.
In some Caribbean citizenship programs you need to pay additional fee for adding certain family members into the application. For instance, in Grenada an investor needs to pay extra USD 75,000 in order to include their siblings into the application.
On the other hand, in Antigua and Barbuda CBI program welcomes only families having at least six members in order to be eligible for the investment into education project.
Taxes Involved
Holding a passport of another country imposes a duty of paying taxes.
If you plan to make a real estate investment, first, make sure there is no capital gains tax. Otherwise you may end up in paying a portion of property’s value as a tax. Good news is that there is no wealth or inheritance tax both in Caribbean and Oceania CBI countries.
If you apply for the citizenship in order to be able to live in a country at some point, think in advance about personal income tax. In countries like St Lucia tax residents should pay taxes on income generated inside and outside of St Lucia.
Additional Costs
In order to find out the cheapest citizenship by investment program, you need to calculate additional due diligence and application fees.
Besides that, when it comes to real estate investment, most Caribbean CBI programs applies additional government fees in case of approval in principle. Those fees varies between USD 25,000 and USD 100,000 depending on the composition of applicant’s family.
Benefits and Perks
There is no perfect CBI program. Everything depends on the goal you would like pursue once the citizenship is granted.
If you are looking for a visa-free travel, pick up investment programs with the highest global mobility (e.g. Saint Kitts).
If you are looking for something very cheap and wants to preserve trips to the UK at the same time, in that case Nauru Citizenship by Investment Program could be a good choice.
The Caribbean Citizenship: Advantages and Costs
The Caribbean offers a wide selection of CBI program to choose from. Each citizenship program has unique and remarkable features.
All Caribbean programs share certain advantages:
- First, getting a passport in one CBI program gives you a right to become a part of a residency program in another Caribbean country, which is a part of CARICOM.
- Second, all Caribbean countries offer visa-free access to the European Union. Unlike European Golden visas programs offering temporary right to reside and travel within the EU, the Caribbean passport can secure permanently your Schengen trips.
However, when it comes to travelling globally visa advantages of Caribbean passports may differ significantly. For instance, St Lucia could offer visa-free trips to China, while Antigua has visa-free travels with South Africa.
Same differences could be found when it comes to eligibility requirements for family members or the selection of available investment options.
Dominica: Nature’s Island Haven
Dominica stands out as the cheapest citizenship by investment program in the Caribbean. The minimum investment is USD 200,000.
A Dominican passport grants visa-free access or visa-on-arrival entry to over 148 destinations, including China, Hong Kong and Singapore. There are no restrictions on dual citizenship.
Total costs for single applicant – USD 209,500
Total costs for family of four – USD 264,500
Antigua and Barbuda: Tropical Paradise with Benefits
Antigua and Barbuda offers the biggest variety of investment options. On top of that, Antigua citizenship program widely promotes family inclusion. That means investor can add children, parents, grandparents and even siblings to their application.
An Antigua and Barbuda passport provides access to roughly 150 destinations, including the United Kingdom, Hong Kong, Singapore and the Schengen Area. The program requires a minimum investment requirement of USD $230,000.
Total costs for single applicant – USD 238,800
Total costs for family of four – USD 248,700
Saint Kitts and Nevis: A Legacy of Citizenship by Investment
St Kitts and Nevis is the oldest and most renowned citizenship investment programs in the world. St Kitts has the highest passport ranking amongst Caribbean citizenship programs. Citizens of this island get visa-free travel to United Arab Emirates, Saudi Arabia, South Korea, Switzerland and Singapore. The minimum investment in St Kitts starts from USD 250,000.
Totals costs for single applicant – USD 260,250
Total costs for family of four – USD 268,500
Grenada: The Spice Isle with US Connections
Grenada CBI is another intriguing Caribbean option. Their citizenship offers a way to apply for exclusive US E-2 investor visa. Same as for the rest Caribbean countries, Grenada allows dual citizenship. The minimum investment contribution starts from USD $235,000.
Totals costs for single applicant – USD 244,000
Total costs for family of four – USD 257,000
St. Lucia: An Island Growing in Popularity
Saint Lucia offers a wide selection of investment options, including real estate investment, donation, government bonds and business investment. The island does not restrict dual citizenship.
The minimum investment starts from USD 240,000. The economic citizenship program of St Lucia is known for its fast application process.
Totals costs for single applicant – USD 250,000
Total costs for family of four – USD 257,000
Citizenship Investment Programs in Oceania: Advantages and Costs
There are two citizenship by investment programs in Oceania offering a second passport – Vanuatu citizenship by investment program and Nauru Economic Climate Resilience Citizenship Program.
Both Vanuatu and Nauru are remote and virgin islands scattered around Australia and New Zealand. CBI programs are aimed to support local economy and infrastructure.
It is expected that by the end of 2025 Solomon Islands will also launch their own citizenship by investment program.
CBI programs of Oceania offers the following advantages:
- one investment route – a non-refundable contribution to the government;
- fast application process;
- moderate investment requirements which increase chances for approval.
Vanuatu Citizenship by Investment Program
Vanuatu CBI Program is known to be the world’s cheapest citizenship by investment program for a single applicant. The processing time for each application is approximately 45 days, which makes the whole process absolutely straightforward.
Due to violation of EU citizenship’s law as of December 2024 Vanuatu has been deprived of visa-free access to the European Union. Vanuatu offers free visa access to 90+ countries, including to Sri Lanka, Montenegro, Russia and Malaysia.
Totals costs for single applicant – USD 136,700
Total costs for family of four – USD 186,700
Nauru Economic and Climate Resilience Citizenship Program
Nauru CBI program is a cheapest golden passport program for a family of four. This tiny island offers a unique investment type – a donation to combat climate change affecting the island nation.
Nauru offers visa-free access to the United Kingdom, Hong Kong and South Korea.
Totals costs for single applicant – USD 145,000
Total costs for family of four – USD 157,000
Factsheet: Choosing the Cheapest Citizenship by Investment Program
Dominica
- Minimum investment: USD 200,000
- Processing time: 7 months
- Passport Ranking: 27th
- Key feature: Caribbean cheapest citizenship by investment program
St Kitts and Nevis
- Minimum investment: USD 250,000
- Processing time: 10 months
- Passport Ranking: 17th
- Key feature: Most reputable CBI program
St Lucia
- Minimum investment: USD 240,000
- Processing time: 8 moths
- Passport Ranking: 23rd
- Key feature: visa-free access to Asia
Grenada
- Minimum investment: USD 235,000
- Processing time: 6 moths
- Passport Ranking: 24th
- Key feature: E-2 Investor visa to the USA
Antigua and Barbuda
- Minimum investment: USD 230,000
- Processing time: 7 months
- Passport Ranking: 20th
- Key feature: visa-free access to China, Singapore, Hong-Kong
Vanuatu
- Minimum investment: USD 130,000
- Processing time: 2 months
- Passport Ranking: 100th
- Key feature: World’s Fastest CBI Program
Nauru
- Minimum investment: USD 105,000
- Processing time: 4 months
- Passport Ranking: 90th
- Key feature: ETA 180 days United Kingdom
Conclusion
Citizenship by Investment isn’t an easy decision. Taxation aspects, costs involved and future goals should be evaluated in order to make an informative choice.
If the investment budget is a key, in that case Vanuatu and Nauru economic citizenship programs might be a good choice. If you are looking for a fast application process and cheap Caribbean passport, Dominica should be the first CBI program to be considered.
On the other hand, if you do plan a real estate investment, the investment budget should not be the main point in your research. Additional tax consequences like annual property tax or capital gains tax should be considered further.
