A second passport can be a great asset for international investors and their families. It brings many benefits such as increased global mobility, attractive tax regimes, and lucrative investments. If you are looking to acquire dual citizenship, the Caribbean countries offer attractive citizenship by investment programs. In just a few months and in exchange for an affordable investment, you can acquire a Caribbean passport. But how do you choose among all these valuable citizenships? This guide highlights the main differences between these two passports.
Benefits of St Kitts and Nevis and Dominica Passport
St Kitts and Nevis vs Dominica Passport: At a Glance
|Program Characteristics||Dominica Citizenship by Investment||St Kitts and Nevis Citizenship by Investment|
|Application time||Three months||Two months (fast track option available)|
|Passport Global ranking||78th. Visa-free access to EU Schengen States, the UK, Hong Kong, Singapore, Russia and China, amongst others.||55th. Visa-free access to EU Schengen States, the UK, Hong Kong, Singapore and Russia, amongst others.|
|Qualifying investment||EDF minimum donation:
$100,000 (single applicant) / $175,000 (family of four)
$200,000 minimum investment
Investment routes: Economic Diversification Fund, real estate
|SGF minimum donation:
$125,000 (single applicant) / $170,000 (family of four) (special offer from 1 Jan to 30 June 2023)
$200,000 minimum investment
Public Good Project (PGP):
$175,000 non-refundable contribution
Investment routes: Sustainable Growth Fund, real estate, Public Good Project
|Taxes||No income tax on worldwide income, wealth tax, gift tax, inheritance tax or capital gains tax.||No income tax on worldwide income, wealth tax, gift tax, inheritance tax or capital gains tax.|
|Residence rule||No stay requirements.||No stay requirements.|
|Family eligibility||Inclusion of spouse, children, and parents and grandparents over 65.||Inclusion of spouse, children, siblings (under certain conditions) and parents and grandparents over 55.|
|Application requirements||No residence requirements. Plus no managerial experience or interview necessary.||No interview, language or residency requirements necessary.|
St Kitts and Nevis Passport by Investment
Ranking 55th in terms of passport power, the St Kitts and Nevis passport is undeniably one of the best Caribbean passports to have. Its holders can travel visa-free to over 140 countries worldwide, including the European Union, the United Kingdom, and many more, and benefit from a very favorable tax regime as there is no income, inheritance, or gift tax.
The country’s Citizenship by Investment program is the longest running of this kind in the world, having been launched in 1984. With no doubt, this is a solid program. For an investment starting at $125,000 (special offer from 1 Jan to 30 June 2023), investors and their families are able to obtain a passport in just two months. Fast, reliable and affordable, this immigration scheme has been a true success, greatly contributing to boost the country’s economy.
Dominica Passport by Investment
Ranking 78th, the Dominica passport grants visa-free access to over 140 countries worldwide, including the EU Schengen area, the United Kingdom, Russia, China, Singapore and Hong Kong – and also provides citizens with great tax benefits as there is no wealth, gift, inheritance, or capital gains tax in Dominica. Due to the Dominican government’s immigration-friendly policy with many Dominica visa options to choose from, there’s already a favorable climate for immigrant investors in place. The Citizenship by Investment program allows investors and their families to obtain citizenship in three months, in exchange for a investment of at least $100,000.
If you are looking to maximize citizenship investment in terms of quality and price, then the Dominica passport by investment is an excellent choice. Dominica has been voted the best country for citizenship by investment by the CBI Index for the fourth time in a row. Why? It is the cheapest CBI scheme available, its application requirements are very flexible and the program offers the opportunity of family inclusion.
Which one to pick?
Overall, passports from both Caribbean countries provide investors with excellent benefits such as a short application time, favorable tax regimes, flexible residence rules and application requirements, as well as the inclusion of family members in the application.
So, the final choice depends on what your priorities are. Are you looking for the most affordable program for a single applicant? Or are you looking for a second passport for thewhole family, including siblings? Is it important to have visa-free access to a specific country, like China?
If you are looking for global mobility, St Kitts and Nevis passport ranks 55th in the Passport Index, allowing passport holders to enter 142 countries visa free or with visa on arrival. Dominica ranks 78th, but although it has a lower ranking, Dominica passport holders have access to China without a visa.
On the other hand, if you are looking for speed, St Kitts and Nevis offers an Accelerated Application Process (APP), that guarantees successful applicants citizenship, including the issuance of passports in sixty days or faster.
If you are applying as a single person, Dominica is much more affordable: the starting investment is a $100,000 non-refundable contribution to the country’s Economic Diversification Fund (EDF), compared to $125,000 for Saint Kitts.
But if you want to include your family members, the difference is much smaller: the minimum donation for a family of four is $175,000 and $195,000 respectively (in fact, St Kitts is more affordable with the limited offer from 1 Jan to 30 June 2023, at $170,000). And if you choose to make a non-refundable contribution to a Public Good Project (PGP) pre-approved by the government of the St Kitts, the total amount is $175,000. Also, St Kitts is more inclusive regarding dependents: parents and grandparents can be included if they are over 55 years old, and siblings are eligible if under 30, unmarried and have no children. Dominica, on the other hand, announced in September 2022 that it will no longer accept the inclusion of siblings in applications, and parents and grandparents must be over 65.
As you can see, the choice depends on personal circumstances. If you would like bespoke information and advice, don’t hesitate to contact us.
Don’t forget to check our other Caribbean comparison articles:
- Caribbean Citizenship by Investment Comparison Guide
- St Lucia vs Dominica Citizenship
- Grenada vs St Kitts Citizenship
- Grenada vs St Lucia Citizenship
- St Kitts vs St Lucia Citizenship
- Grenada vs Dominica Citizenship
- Antigua vs St Lucia Citizenship
- Antigua vs St Kitts Citizenship
- Antigua vs Grenada Citizenship
- Antigua vs Dominica Citizenship
Frequently Asked Questions:
How can I get the St Kitts and Nevis passport?
Thanks to the country’s Citizenship by Investment program, you and your family can obtain a passport in two months in exchange for a minimum investment of $125,000 (special offer from 1 Jan to 30 June 2023).
How can I get the Dominica passport?
You can obtain a Dominica passport by applying to the Dominica economic citizenship. In exchange for an investment of at least $100,000 (for a single person), you can get a Dominica passport in three months’ time.
Saint Kitts and Nevis vs Dominica passport: which one to choose?
Each passport has major benefits offering different priorities. The passport of St Kitts and Nevis is great for investors seeking global mobility, while the Dominica passport is the cheapest passport by investment in the Caribbean.