Buyers Guide

New Year, New Homes

The Caribbean boasts some of the most beautiful beaches in the world and offers a high standard of living and close proximity to North America.We look at how different regions of the Caribbean are welcoming overseas property buyers in 2020.

One of the simplest ways to move to the Caribbean as a foreign expatriate is to apply for permanent residency.Many different islands make this possible and it is always worth comparing incentives in the many destinations in the region. Residency is an attractive option with the many of the islands tax neutral jurisdictions, so permanent residency can offer many advantages.

The Bahamas

Foreign buyers investing a minimum of $750,000 in property in The Bahamas can apply for a Permanent Residence Permit. Those investing $1.5 million in real estate can benefit from accelerated consideration for Permanent Residency Permits. Permanent residents of The Bahamas may remain in The Bahamas without restriction and benefit from The Bahamas’ tax benefits.

Turks & Caicos

Property buyers can apply for a Permanent Residence Certificate (PRC) in the Turks & Caicos Islands (TCI) through a government program designed to attract foreign direct investment. The level of investment required to qualify for permanent residency differs by island. On Providenciales the minimum level of required investment is US $1,000,000 while on Grand Turk, Salt Cay, South Caicos, Middle Caicos and North Caicos a minimuminvestment of US $300,000 in real estate is required

Dominican Republic

A fast track program offers immediate access to permanent residency for applicants who make a minimum investment of US $200,000 in real estate. It is also open to those who can demonstrate a minimum income of US £1,500 per month from either a foreign investment or pension.

Anguilla

Anguilla’s Residency by Investment Program allows investors making a financial contribution to the island to obtain Permanent Residence status via either a one-time contribution of US $150,000 to Anguilla’s Capital Development Fund (plus US $50,000 for each dependant/spouse) or a minimum investment of US $750,000 (plus US $100,00 for each additional dependant) in real estate on the island.

Caribbean citizenship

Looking to relocate to the islands? Then applying for citizenship may be an option. It offers investors the opportunity to acquire a second citizenship in one of several island nations with five countries operate programs: Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis and St Lucia.  Each enables applicants to obtain full citizenship of the relevant nation in exchange for a significant financial contribution.

In general, citizenship by Investment can provide a range of benefits, including minimal taxation, the right to live, work and travel in the Caribbean and a highly regarded passport which can offer greater freedom to travel internationally than for passport holders who face the hurdles of visa applications with their existing passport.