Caribbean Citizenship by Investment Programs Open to US Citizens
All five established programs are open to American applicants, with no restrictions or enhanced screening tied to US nationality. Figures are 2026 minimums and are confirmed at the time of application:
| Country | From (USD) | Processing | Notable |
|---|
| Dominica | 200,000 | 5-7 months | Lowest entry cost of the five |
| Antigua and Barbuda | 230,000 | 4-6 months | Family of four included at base price |
| Grenada | 235,000 | 6-9 months | Only Caribbean program with US E-2 investor treaty access |
| St Lucia | 240,000 | 9-16 months | Only program offering a government-bond route |
| St Kitts and Nevis | 250,000 | 4-6 months | Longest-running program globally, established 1984 |
For full detail on each program, see our dedicated pages or our Citizenship by Investment overview.
Citizenship-Based Taxation: What a Second Passport Does Not Change
The United States is one of only two countries in the world, alongside Eritrea, that taxes its citizens on worldwide income regardless of where they live. This is citizenship-based taxation, and it is unaffected by acquiring a second citizenship. As long as you remain a US citizen, you are required to file a US tax return every year, report foreign financial accounts once they exceed reporting thresholds, and disclose your US person status to any bank or institution that asks, no matter which other passport you hold or where you reside.
A second citizenship does not create a new tax residence, does not exempt you from filing, and is not a lawful way to reduce a US tax bill. Clients considering a second citizenship as part of a tax strategy need a US tax advisor and, separately, immigration guidance. We are clear about this distinction with every American client from the outset.
FATCA, Banking, and Foreign Account Reporting
The Foreign Account Tax Compliance Act requires foreign financial institutions to identify and report accounts held by US persons to the IRS, and requires US citizens themselves to file Form 8938 once their foreign financial assets exceed set thresholds, alongside the separate FBAR filing once foreign accounts exceed USD 10,000 in aggregate at any point in the year. These obligations apply to every US citizen, including dual citizens, regardless of where the account is held or what other passport was used to open it.
Where a second citizenship genuinely helps is banking access rather than banking secrecy. Many foreign banks have become reluctant to onboard US citizen clients at all, given the compliance burden FATCA places on the institution, a pattern often called de-risking. A second passport can sometimes make a bank more willing to open an account, but the account holder must still disclose US person status honestly on every account application. Misrepresenting your US tax status to a bank is not a workaround, it is a compliance failure with serious consequences, and it is not something we assist with.
Does Caribbean Citizenship Give You EU Residency?
No, and this is worth being precise about, since it is one of the most common misunderstandings we hear from American clients. Caribbean citizenship by investment grants a passport that, at present, allows visa-free travel to the Schengen Area for tourism, but it does not grant the right to live, work, or establish tax residence in any EU country. That is a materially different thing from EU residency, which requires a separate, EU-based program such as a national golden visa or residency-by-investment route.
It is also worth knowing that even the current visa-free Schengen travel benefit is under real pressure. In June 2026, the European Commission wrote to all five Caribbean CBI governments demanding a phase-out of citizenship by investment programs by 1 June 2028, and a revised EU visa-suspension mechanism that took effect in December 2025 now treats the mere existence of a CBI program as sufficient grounds to suspend visa-free access, independent of how well the program is run. No program has closed and no passport already issued has been invalidated, but this is a live, evolving situation rather than a settled benefit, and we track it closely for every client.
If genuine EU residency, rather than Schengen travel access, is your actual goal, that requires a different conversation and a different program entirely. We are happy to discuss this separately and will not present Caribbean citizenship as something it is not.
What If You Are Also Considering Renouncing US Citizenship?
The large majority of our American clients keep their US citizenship and simply add a second one. Renunciation is a separate, significant decision with its own tax consequences and is not something most clients pursue or need to consider. For the minority who do explore it, US law treats high-net-worth or high-income individuals as "covered expatriates" if their net worth is USD 2 million or more, or their average annual US tax liability exceeds an inflation-adjusted threshold, currently USD 211,000 for 2026. Covered expatriates face a mark-to-market exit tax under Section 877A, treating worldwide assets as sold the day before expatriation, with the first USD 910,000 of gain excluded for 2026. The formal renunciation fee itself was reduced from USD 2,350 to USD 450, effective April 2026, though this is separate from any exit tax owed.
We do not advise on US tax filings ourselves, and any client exploring renunciation should work with a qualified US tax attorney or CPA alongside us. Our role is limited to the citizenship by investment process itself.
Documents US Applicants Typically Need
- Valid passport with at least 6 months' remaining validity, plus a recent passport-size photograph
- Birth certificate and, where applicable, marriage certificate
- FBI background check or state-level police clearance, and clearance from every other country of residence over the past 10 years
- Bank statements and supporting evidence for every source of the qualifying investment
- UAE or GCC residence visa, salary certificate, or trade licence, where relevant to the source-of-funds picture
- Medical certificate and, on most programs, a mandatory interview for the main applicant and dependents aged 16 or older
Foreign-issued documents generally require translation and attestation before submission. Our document attestation team handles this in parallel with the citizenship application to avoid delays.
Why Choose Takween Advisory for US Citizens Seeking Second Citizenship
Takween Advisory is a UAE-based business consultancy advising high-net-worth individuals, entrepreneurs, and families across the GCC on citizenship by investment. We work regularly with American clients and give straight answers on the questions that matter most to them: what FATCA and citizenship-based taxation actually require, what a second passport genuinely changes, and what it does not.
Every Caribbean program requires applications to be filed through a government-authorised local agent - we work alongside your Authorised Representative to prepare a complete, accurate file and manage the process through to passport issuance.
For a confidential assessment of your eligibility and the most suitable program for your family, contact our team today.
