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Moving to a sun-drenched island for a slower pace of life is a dream for many.
But even if you have the funds and freedom to do so, obtaining the right to live permanently in a different country often comes with complications.
However, five Caribbean countries are willing to help expats on the condition that they buy property or invest money in the area.
In some countries, properties that could qualify for the scheme can be bought for as little as $212,000, or around £175,000 – £100,000 less than the average UK home.
We explain how these “citizenship by investment” programs work and look at some of the eligible properties currently on the market.
Caribbean dream: Countries like Saint Lucia (pictured) offer ‘citizenship by investment’
How does citizenship by investment work?
Simply put, citizenship by investment plans provide individuals with the opportunity to obtain citizenship in a country through an authorized agent.
Five Caribbean countries offer ‘citizenship by investment’ opportunities: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis and Saint Lucia.
If you want to benefit from a citizenship by investment programme, it is essential to have the right professional advice. This is not a process you can complete individually or on a whim.
You can buy property in the country, although in some cases only approved developments can be used; invest in an approved business or make a donation to an approved government fund or bond.
Eligibility criteria apply and benefits vary, but in Antigua, for example, citizenship includes visa-free travel to 150 countries and longer stays than would otherwise be permitted.
In Antigua, any property purchased to apply for citizenship can be sold five years later and investors can earn rental income in the meantime. Other countries participating in the plan have different rules.
Citizenship through investment plans is not free from criticism and should not be approached lightly. The process can only be completed through a regulated and authorized agent.
Thomas Scott, global head of real estate at investment specialist Citizenship by Henley & Partners, told MailOnline: “While the process of investing in real estate through investment migration programs does not differ much from other property purchases, “Investors should work closely with their investment migration.” advisors to ensure that the eligibility criteria of their selected programs are met and ensure that they meet all requirements in terms of compliance and due diligence requirements.
“Not only are there different minimum thresholds for real estate depending on the program, but there are also different types of properties that qualify.”
How much do you need to spend on property?
Each Caribbean country that operates citizenship through investment plans has different minimum real estate purchase prices.
And buying property is not the only way to go. Instead, investments in appropriate companies or a donation to a relevant government fund can be made.
Anyone opting for the citizenship scheme for investment in Antigua and Barbuda through real estate would need to spend at least $200,000 on a property. The minimum threshold in Dominica and Saint Lucia is also $200,000, experts at Henley & Partners told MailOnline.
In Grenada, the minimum purchase price is $270,000 and in Saint Kitts and Nevis it is higher, with a minimum of $400,000.
In Antigua and Barbuda and Saint Kitts and Nevis, properties on the open market, as well as those from approved developers, can be used as part of the citizenship by investment process.
Most importantly, however, in Dominica, Grenada and Saint Lucia, only properties purchased from licensed developers can be used for the scheme, Henley & Partners said.
The head of a property agency in St Lucia, Micha Landers, of St Lucia Realty, told MailOnline that there were currently no approved developer properties in St Lucia available for use through the citizenship by investment scheme.
Certain aspects of citizenship through investment plans in the Caribbean will also soon change.
Experts at Henley & Partners told MailOnline that the changing thresholds do not include real estate purchases. However, it is essential to obtain professional advice regarding any changes to the thresholds.
What type of properties are available?
If you’re looking for warmer climates, take a look at three properties you can buy to qualify for the scheme.
1. Villa in Dominica, $212,000
Wow factor: For $212,000, you could buy a little piece of paradise in Dominica
Would you like a dip? The property features a picturesque plunge pool and sun terrace.
Heaven: a serene and relaxing bedroom in the villa
What a view: property in Dominica is surrounded by stunning scenery
For $212,000, or around £175,000, you could buy a little piece of paradise in the form of a two-and-a-half-bedroom, three-bathroom villa located in Dominica and available to view through Henley & Partners. It is available to purchase through a fractional ownership scheme.
The property spans three floors and boasts views across the jungle to the ocean. It is furnished with locally made handcrafted furniture and features a plunge pool.
One to consider? In Antigua, it is possible to purchase property on the open market through the citizenship by investment process.
Lush: the spacious and bright interior of a villa for sale in Antigua
Outdoor Living – The villa offers buyers the opportunity to relax outdoors
Bath time: The villa overlooks a fabulous pool.
In Antigua, it is possible to purchase property on the open market through the citizenship by investment process.
This divine one bedroom villa is located in Nonsuch Bay Resort, within a private, gated resort community. It is for sale for $250,000.
It comes fully furnished and is located minutes from Halfway Moon Beach. Inside, the property is air conditioned and modern and spacious.
The villa has a porch, ideal for relaxing or dining outdoors. The property is being sold by Stanley estate agents.
Gorgeous: This two-bedroom apartment is for sale through St Kitts Nevis Realty for $495,000
Open plan: The interior is open, spacious and filled with light.
Time to relax – one of the bedrooms opens to a private balcony.
Play sports: The apartment in St Kitts and Nevis comes with the use of a swimming pool and a tennis court.
In Saint Kitts and Nevis, it is possible to purchase real estate on the open market or through an approved developer when using the citizenship by investment scheme.
This two-bedroom apartment is for sale through St Kitts Nevis Realty for $495,000 and can be viewed on Zoopla.
The beachfront apartment is located within a private gated community and comes with the use of a swimming pool and tennis court.
The apartment has a large open plan kitchen, dining and living room which opens onto a full terrace.
