The Best Caribbean Second Passport for Russian Expats: Costs, Procedures & Practical Tips

In today’s uncertain global landscape, many Russian nationals are exploring second citizenship as a hedge against geopolitical risk, visa restrictions, banking challenges, or simply to gain more global mobility. Caribbean citizenship-by-investment (CBI) programs remain among the most attractive options because of their relative speed, low (compared to many European programs) costs, and strong travel privileges.

However, not all Caribbean programs treat Russian (or Belarusian) nationals equally — and some may impose extra conditions or blocks. In this post, we’ll review the leading Caribbean CBI options, compare their costs and timelines, and highlight special considerations for Russian applicants.

Why Caribbean Passports Are Attractive

Before diving into program-by-program details, here’s what makes Caribbean CBI programs compelling, especially for Russian expats:

• Fast processing: Many programs issue citizenship (and passport) in 3–6 months, sometimes faster.
• No residency requirement: You generally don’t need to physically live in the country.
• Visa-free travel: Caribbean passports typically grant entry to 140+ destinations, including the UK, Schengen area, Hong Kong, Singapore, etc. (Global Citizen Solutions)
• Dual citizenship allowed: Most of these countries permit dual nationality, allowing you to retain your Russian citizenship (assuming Russian law allows). (Global Citizen Solutions)
• Tax advantages: Low or zero capital gains tax, inheritance tax, or wealth taxes (depending on country) for non-resident citizens.
• Family inclusion: Spouse, children, parents, and sometimes siblings can be included.
• Potential exit strategy: Real estate investments may be resold after a mandated holding period in some programs.

Key Caveat for Russian Nationals

Not all Caribbean programs currently accept applicants from Russia or Belarus. For instance, St. Kitts & Nevis’ CBI program reportedly bans applications from Russian and Belarusian citizens as of October 2024. (Nomad Capitalist) Before recommending any program, one should confirm current eligibility with licensed agents or the relevant Citizenship by Investment Unit (CIU).

Additionally, some Caribbean nations have signed “six principles” agreements with the U.S. to introduce extra scrutiny for Russian and Belarusian applicants, adding extra due diligence, mandatory interviews, audits, and discretionary powers around passport revocation. (Wikipedia) Hence, Russian applicants should expect stricter background checks, longer vetting, or special protocols.

Because of these constraints, the “best” Caribbean passport for a Russian expat may not always be the lowest cost — priority must be given to programs that still accept your nationality and offer relatively reliable processing.

Comparison of Top Caribbean CBI Programs (2025)

Below is a comparative overview of five major Caribbean citizenship-by-investment programs, with cost ranges, timelines, and pros/cons — with commentary on Russian-applicant viability when known.

* These “Russian-Applicant Status / Notes” are based on published sources at time of writing; actual restrictions may change, so consultation with a licensed agent is essential.

Highlights & Observations

• Lowest-cost entry: Dominica remains one of the most affordable, especially via the donation route.
• Best for U.S. access: Grenada is attractive because of its U.S. E-2 visa treaty, allowing investors to potentially live/work in the U.S. under investment visa rules.
• Most flexibility: St. Lucia’s multiple investment paths can suit different investment preferences.
• Established prestige: St. Kitts & Nevis has long been considered the “platinum standard,” but its ban on Russians reduces its viability for many Russian expats. (Nomad Capitalist)
• Family friendliness: Antigua & Barbuda’s UWI Fund option may benefit education-oriented families.
• Due diligence is stricter for Russians: Because of geopolitical conditions, Russian applicants will likely face longer vetting, more document scrutiny, and potentially higher rejection risk under discretionary clauses.

Procedure for Russian Applicants: Step-by-Step

Below is a generalized application roadmap. The exact steps, documents, and fees will vary by country and should always be confirmed with a licensed agent or local CIU.

1. Preliminary consultation & eligibility check
   • Engage a licensed CBI agent or legal advisor
   • Confirm whether Russians are currently accepted; check for any program suspensions, extra restrictions, or special protocols
   • Choose the desired program (Dominica, Grenada, etc.) and investment route (donation vs real estate vs enterprise)
2. Document preparation & due diligence
   • Certified copies of passports, birth certificate, marriage certificate (if applicable)
   • Police / criminal record certificate(s) from all jurisdictions of residence
   • Medical / health report (HIV test or equivalent if required)
   • Proof of funds / source of wealth documentation (bank statements, investment statements, business ownership, tax returns)
   • CV / resume, references, professional history
   • Any documents need authentication (notarization, apostille, or legalization) and translation to English
   • Fingerprints or biometric data, if required
   • For Russian nationals, there may be extra documentary questions, and additional compliance checks under international AML regimes
3. Submission of application to the Citizenship Unit / Government
   • Submit all forms, supporting documents, and pay application fees, due diligence fees, etc.
   • Some governments require an interview (often virtual for foreigners). Under “six principles” agreements, interviews may be stricter for Russian/Belarusian nationals. (Wikipedia)
   • The CIU reviews and vets the application, including background checks.
4. Approval in principle
   • If all checks out, you will receive an “in-principle” approval letter to proceed with the investment
   • Only after approval do you finalize the required investment (e.g. pay the donation, purchase approved real estate, invest in enterprise, etc.)
5. Investment execution & final formalities
   • Transfer funds (or purchase property)
   • Submit proof of investment to the CIU
   • Take an Oath of Allegiance (may be administered locally or at the nearest embassy/consulate)
   • The new passport is issued (or made available at embassy)
6. Receipt of passport & citizenship
   • The passport document is delivered (often via courier)
   • You become a citizen of the jurisdiction on that date (or retroactively as of the approval)
   • In many cases, there is no further requirement to live in the country
7. Holding and exit (for real estate routes)
   • If citizenship was obtained via real estate, the investment often must be held for a minimum period (e.g. 5 or 7 years) before resale is permitted
   • After that period, you may sell (subject to restrictions) and recover part of your capital
   • Be mindful that resale is often limited to approved buyers or subject to government repurchase clauses

Sample Cost Illustration (Hypothetical Russian Applicant)

Let’s take Dominica (donation route) as a working example (figures approximate) to illustrate how the breakdown might look for a Russian expat:

For family or dependents, each additional member adds due diligence fees, sometimes slightly higher government fees, and occasionally extra investment or donation amounts.

If you instead choose a real estate route, your capital locked and additional closing, maintenance, and resale costs must also be considered.

Risk Factors & Things to Verify

Before committing to any Caribbean CBI program, especially as a Russian applicant, weigh these considerations:

• Program suspension or nationality bans: As with St. Kitts & Nevis, programs may restrict or temporarily ban certain nationalities.
• Discretionary power & revocation risk: Many CBI frameworks allow governments to revoke citizenship/passports under certain conditions (fraud, national security, misrepresentation).
• Stringent due diligence: Russians will likely face intensified scrutiny; past sanctions or travel history may complicate approval.
• Currency transfer / capital repatriation risk: Moving large sums from Russia or other countries may attract regulatory attention or restrictions.
• Real estate liquidity & risk: Approved real estate projects may be overpriced or difficult to resell.
• Changing rules: Investment thresholds, residency requirements, or eligibility rules may shift.
• Tax planning & obligations: While many Caribbean jurisdictions are tax-friendly for non-residents, your home country (Russia) may still tax you, or you might be subject to exit taxes or reporting obligations.

Conclusion & Recommendation

For Russian expats seeking a Caribbean second passport, there is no one-size-fits-all “best” choice. The ideal program balances:

• Current acceptance of Russian applicants
• Reasonable cost
• Speed and reliability
• Visa / travel benefit suite
• Family inclusion flexibility

Given public data and restrictions, Dominica remains one of the more viable mainstream options, provided the applicant can satisfy enhanced due diligence. Grenada may offer a strong alternative, especially if the U.S. E-2 visa option is relevant. St. Kitts & Nevis, while prestigious, is currently off-limits to Russian nationals in known sources and so is risky as a choice without updated confirmation.

Because rules, eligibility, and geopolitical climates change, your first step should be to consult a licensed CBI agent or attorney, ideally one with recent experience with Russian or Eastern European clients, who can confirm the current status, guide you through document preparation, and help you choose the optimal jurisdiction.