Henley & Partners (H&P), a migration consultancy has revealed that Nigerian nationals rank fifth among the top applicants buying citizenship through property investment(Citizenship by investment) in the Caribbean islands.
The minimum cost of properties in the Caribbean islands of Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia starts at $200,000.
In return, successful applicants will obtain a passport that grants visa-free access to up to 150 countries, including the United Kingdom (UK) and the Schengen Area. Crucially, all five CBI schemes allows applicants to retain their existing nationality.
Reports indicates the revenues generated from this scheme now contributes between 10 percent and 30 percent of GDP in these island nations.
American citizens make up the majority of recent applicants, followed by Ukrainian, Turkish, Nigerian, and Chinese nationals. Overall applications have risen by 12 percent since late 2024, according to H&P.
Interest in Caribbean Citizenship by Investment (CBI) programmes surged, particularly among Americans, with estate agents reporting that political and social tensions in the United States are fuelling demand.
Aside from buying properties, other routes to obtaining Caribbean citizenships through investment typically include a one-off donation to a national development fund or similar.
The cost of the properties ranges from $200,000 in Dominica for a single applicant, to $250,000 for a main applicant and up to three qualifying dependents in Dominica and St Kitts. In Antigua, investors also have the option of donating $260,000 to the University of the West Indies.
The lifestyle attraction of the region is now complemented by its tax-friendly regimes. As there are no capital gains, inheritance, or in some cases income tax, wealthy buyers find Caribbean nations an attractive prospect.
As reported by the BBC, in Antigua, estate agents are struggling to meet demand. “Up to 70 percent of buyers are seeking citizenship”, according to Nadia Dyson of Luxury Locations.
Interest has intensified over the past year, with Dyson adding, “Previously it was mainly lifestyle-driven. Now buyers say, ‘I want a house with citizenship’…. we’ve never seen sales like this before.”
Regardless of the popularity of the CBI scheme, it has attracted both interest and criticism since their inception, particularly Antigua’s programme which began in 2012.
Initially, concerns were raised over the ethical implications of offering citizenship in exchange for financial investment, with some residents fearing it compromised national identity. Leaders from non-CBI countries also criticised the practice, suggesting citizenship should not be treated as a commodity.
International organisations, including the European Union (EU), have expressed concerns about potential misuse of these schemes, citing risks related to security and border control. Talks between the EU and Caribbean authorities remain ongoing as assessments continue.
In response to mounting pressure, participating nations have increased transparency and tightened security measures.
Dominica and St Lucia have defended their programmes, emphasising high standards of integrity and oversight. The five island nations have collectively pledged to adopt stricter vetting practices, including interviews and enhanced due diligence.