American travelers are currently looking for loopholes after being banned from visiting most countries in the world.
Many U.S. citizens have obtained citizenship in Caribbean countries, which oftentimes cost thousands of dollars.
Caribbean nations understand that Americans want a cheaper way to obtain citizenship and some countries are offering discounted rates, making it easier to gain citizenship.
Here are Caribbean countries currently offering cheaper citizenship to Americans:
Antigua and Barbuda
Antigua and Barbuda announced it would be offering a discounted option in its Citizenship by Investment Program.
A family of four will have to make a donation in the amount of $100,000 to the National Development Fund of Antigua and Barbuda in addition to investing $200,000 in real estate. The previous cost of the donation was $125,000.
The application can take between three to four months.
St. Kitts and Nevis
A “Covid-19 limited discount” was announced by St. Kitts and Nevis last month to its Citizenship by Investment program.
If interested, U.S. citizens have until the end of this year for families of four to donate $150,000, down from $190,000, to a charity organized by the St. Kitts-Nevis government. Investing $200,000 in real estate will also be required.
Single U.S. citizens will have to invest $250,000 in bonds in order to become a citizen of St. Lucia. Families of four will have to invest $300,000. These prices have been reduced from $500,000 for a single applicant and $550,000 for families of four.
The bonds will be held for a period of five years at 0% interest not including service fees.
Another option is to donate $100,000 and invest $300,000 in real estate which will result in a three-to five-month wait to become a citizen.