What makes an ideal retirement? Is it the money you’ve earned all those years and finally get to spend the way you want? Or perhaps it’s the tranquil life that you know you deserve after decades of hard work?
For many people, the latter sounds more like the golden years they imagine for themselves. After all, no amount of money can outweigh the chance to spend one’s retirement peacefully.
Besides the how, you also need to decide where you will spend the rest of your life when planning your retirement. A good choice would be the Caribbean.
Known as a famous travel destination, the Caribbean is a region that provides interesting options for retired expats. In fact, some of the countries there offer citizenship by investment programs (CIPs) that allow high-net-worth retirees to live the way they want.
Below is a quick roundup of answers on where, why, and how you can spend your golden years in the Caribbean:
1. Antigua and Barbuda
Situated in the eastern portion of the Caribbean Sea, Antigua and Barbuda is a twin-island state in the Lesser Antilles.
Home to many people of African descent, two-thirds of the population there are Christians. Most of Antigua’s inhabitants also live in St. John’s, the country’s capital.
Although agriculture is the mainstay of the Antiguan economy, it has been significantly superseded by tourism – and for a good reason. Antigua and Barbuda is known for having 365 beaches within its territory – one beach to visit for every day of the year (though that number has yet to be verified).
Why Retire in Antigua and Barbuda?
Besides its gorgeous beaches, Antigua and Barbuda has become one of the most sought-after retirement destinations in the Caribbean because of the slow-paced, laid-back, and stress-free lifestyle you can enjoy here.
Plus, Antigua citizenship is one of the best choices for families. The country offers a comprehensive citizenship by investment program that includes options for up to six family members. They even grant scholarships for one family member at the University of the West Indies with the right investment route.
How to Acquire Antiguan Citizenship
Applying for citizenship in Antigua and Barbuda is pretty straightforward. Below are a few things you need to know before getting started:
- Authorized Representative: Before anything else, you must appoint an authorized representative to perform all dealings on your behalf. They are also tasked to pre-screen applicants before submission and provide specialized guidance throughout the citizenship by investment
- Investment Route: Investment routes offered in Antigua and Barbuda include contribution to the National Development Fund (NDF), real estate investment, business venture sharing, and donation to the University of the West Indies Fund (UWIF).
- Minimum Investment: You’ll need to contribute at least $100,000 for the NDF route, spend a minimum of $400,000 in government-sanctioned real estate property, invest no less than $1.5 million for an approved business ($400,000 each for joint business investments with a total of $5 million), and donate $150,000 to the UWIF.
According to PWM Financial Times, Dominica got top rank as the best Caribbean country offering citizenship by investment in five consecutive years.
This inland jungle filled with lovely beaches, natural hot springs, and mountainous landscapes is also home to the Caribbean’s highest peak – the Morne Diablotins.
Dominica draws visitors because of its steam-covered Boiling Lake and other natural attractions that will melt away stress in an instant.
Why Choose Dominica?
One of the main reasons why Dominica is a great choice is its unspoiled natural landscapes. The island has many things to offer that will make your retirement much more relaxing.
Also, you don’t need to live in Dominica before acquiring your second passport. There’s no need to learn their language either as most of the locals speak English anyway. You also don’t have to present any specific educational attainment to enjoy high living standards in the country.
How to Become an Economic Citizen in Dominica
Like Antigua and Barbuda, Dominica’s second citizenship program is simple:
- Authorized Agent: An authorized agent will represent you in all the processes of the CIB in Dominica, from the application proper to the approval.
- Background Check: Dominica only accepts economic citizens with outstanding reputation and character. To ensure this, the government performs thorough background checks to sift through applications, so that only applicants who are at least 18 years old, have no criminal records, are in good health, and have legally derived funds are accepted.
- Investment Routes: Dominica offers citizenship to investors who are willing to contribute at least $100,000 to their Economic Diversification Fund (EDF) or invest in approved real estate worth at least $200,000.
Also called “the Isle of Spice,” Grenada is another viable country for your Caribbean retirement.
Composed of a hilly mainland, the state is home to numerous nutmeg plantations and colorful homes in its capital, St. George’s. There, you’ll also find Fort George from the 18th century and other architectural evidence of the island’s vibrant culture and history.
Why Move to Grenada?
Besides the majestic island and its inhabitants, Grenada also boasts one of the best climates in the world. Located just below the hurricane belt, the country rarely sees inclement weather and is mostly sunny all year round.
Grenada’s volcanic lands also support the lushness of forests, not to mention its many impressive waterfalls. Meanwhile, the reefs and craggy coastline protect the island from big waves on the side of the Atlantic as the Caribbean side remains relatively calm.
How to Apply for Grenada Citizenship
To apply for Grenada citizenship by investment, there are several things you need to know:
- Licensed Agents: Like the other two countries on this list, Grenada also requires all applicants to conduct their business regarding economic citizenship through licensed agents. No one is allowed to submit their CIP requirements
- Routes to Citizenship: CIP routes are similar to those in other countries in the Caribbean. An applicant can donate a minimum of $150,000 to the country’s National Transformation Fund (NTF) or invest in a government-approved real estate project worth at least $350,000.
- Due Diligence Checks: All applicants will undergo due diligence checks to verify their background before receiving a recommendation for the application to the Minister. Successful applicants will get a letter stating the “approval in principle” prior to making their investment.
Live Out Your Golden Years in Peace
When you hear the word “Caribbean,” chances are, you imagine a beach scene with a serene sunset in the background. To live out your golden years in the region is a dream that you can attain with the right choice of country and in-depth knowledge of citizenship by investment programs.