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The Caribbean’s Citizenship by Investment (CBI) industry has been shaken up in 2024, with Antigua and Barbuda setting new records and St. Kitts and Nevis experiencing a dramatic downturn. Once the uncontested leader in the CBI sector, St. Kitts and Nevis now faces a sharp decline due to policy changes and controversy, opening the door for other Caribbean nations like Antigua and Grenada to step into the spotlight.

Antigua and Barbuda’s Record-Breaking Surge

Antigua and Barbuda’s CBI program surged to unprecedented levels this year, nearly doubling the combined total from the last three years. This record-breaking performance is attributed to high demand from international investors looking for stability, security, and visa-free travel options. Notably, the fallout from St. Kitts and Nevis’ program has made Antigua a top alternative, drawing many investors disillusioned by their former favorite. Antigua’s success highlights its program’s perceived reliability and appeal in today’s highly competitive CBI market​ (markets.businessinsider.com)​

St. Kitts and Nevis: A Reversal of Fortune

Once the Caribbean’s crown jewel for CBI, St. Kitts and Nevis faces a turbulent year. Regulatory overhauls, fee increases, and administrative controversies have led to a significant drop in demand. Investor confidence in the program has been shaken by complex policy changes and a high-profile scandal involving a controversial appointment, which prompted mass layoffs within the Citizenship by Investment Unit (CIU) and the resignation of its CEO. This upheaval has created a void that other nations, like Antigua, are swiftly filling​ (Global Citizen Solutions)​

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Grenada and St. Lucia: Riding the Wave

Grenada’s CBI program continues to see strong revenue growth, bolstered by its unique advantages, including visa-free access to key regions like China. This distinction has allowed Grenada to capitalize on the shifting CBI landscape, drawing in investors who are exploring Caribbean options outside St. Kitts. St. Lucia, while facing some operational backlogs, has also gained from regional shifts, proving that adaptability is crucial in a constantly evolving industry​ (markets.businessinsider.com)​

A New Era for Caribbean CBI Programs

The shakeup in 2024 signals a potential long-term power shift within the Caribbean’s CBI landscape. Antigua’s adaptability and Grenada’s strategic visa agreements have proven effective in attracting quality investors. Meanwhile, St. Kitts and Nevis’ struggle to manage regulatory shifts and regain investor trust highlights the risks of rapid, complex policy changes in such a competitive sector. As nations continue to vie for the title of “CBI Leader,” the Caribbean remains a dynamic player in global citizenship solutions.