Have you ever wondered
what it would take to start a business in the Caribbean? If you’re
looking to “live the dream” in an area of the world-renowned for
sun, beaches and easy living, then you’ve come to the right place.

This guide will help you
fire your boss…you heard that right, you get to FIRE your boss and
set up shop in one of the world’s most desired travel destinations:
the Caribbean.

Where in the Caribbean
is Best?

The Caribbean is full of
possibilities and potential business opportunities. Before
we jump into business setup and ideas, let’s take a look at some of
the most popular, safe, and reliable locations to start a business in
the Caribbean.

Saint
Kitts and Nevis

Nestled
snuggly in the heart of the Caribbean, Saint Kitts and Nevis is a
dual island nation known around the world for its luscious mountains
and breathtaking beaches. The islands
currently operate one of the most well-respected and reputable
economic citizenship programs. It’s lengthy track record of
supporting new businesses and investors makes this a top pick on our
list.

Dominica

Having established their
“Citizenship by Investment Program” back in 1993, Dominica has a
demonstrated and lengthy history of consistently supporting those
willing to invest in starting a business on the Caribbean Island. The
island is known for its spectacular parks and emerald green
mountains, making it a popular tourist destination.

Grenada

Although Grenada is a
newer player to Citizenship by Investment programs, it is the only
program of its type that boasts a USA E-2 Investor Visa treaty,
meaning those who hold a Grenada passport can both travel to and work
in the US freely. Situated in the Atlantic, the island nation is
dotted with immaculate white sandy beaches, lush forests and more.

Antigua and Barbuda

Reef-lined beaches,
picturesque scenery and lush forests, as well as its proximity to
Miami, FL (3-hour flight), make Antigua and Barbuda a popular tourist
and business destination. Although their citizenship by investment
program is newer than others (established in 2014), the nation has
made solid efforts to support those seeking to establish a business
there.

Saint Lucia

Established in 2015, Saint
Lucia’s citizenship by investment program opened up the doors for
professionals and businessmen and women to set up shop on the island.
With impressive views of western mountains, and a landscape sprinkled
with unparalleled landmarks amid the beauty of the Caribbean, this
island is an often desired destination for tourists and businesses
alike.

Types of Businesses
that Thrive in the Caribbean

Before we dive in too
deep, you’ll need a business idea. Although this decision will be
quite personal and should be backed by your own due diligence and
research, we’ve put together a shortlist of businesses that do well
in the Caribbean.

1. Destination
Businesses

The Caribbean is an ideal
destination for a number of events and needs, making these types of
businesses worth consideration.

A Few Ideas:

• Travel
  / Vacation
  
  
• Weddings
  
• Corporate
  Events
  
• Affordable
  Medical Care, Dentistry or Cosmetic Surgery
  
  

2. Tourist and
Hospitality Businesses

The Caribbean has long
stood the test of time as a sought after and highly admired tourist
destination for vacations. From romantic getaways, to family-friendly
vacations or simply to get a little rest and relaxation, the
Caribbean has it all.

Support Tourists by
Opening Up:

• A spa or massage
  parlor
  
• Beauty salon
  (manicures, pedicures, makeovers, hair styling and more)
  
• A themed restaurant
  
  
• Gift shop
  
• Tour company
  
  
• Boating company
  

3. Online / Digital
Businesses

We live a digital age when
virtually any business can be operated from the world wide web. Enjoy
running your business from the sandy beaches and pristine weather of
the Caribbean. From marketing agencies to, eCommerce, investment
firms, software engineering, cybersecurity, and any range of business
services, the opportunities are only limited by your imagination.

What Costs are
Associated with Opening up a Business in the Caribbean?

The good news is that starting a
business in the region is not financially out of reach for many
professionals. Although “citizenship by investment” programs are
not cheap, they do come with a myriad of benefits that more than
compensate for the investment made. However, for those seeking to
simply just open up a business in the region, costs can be as low as
USD $1000 to start.

Given the unique nature and
process of each island nation, prices and costs vary and are subject
to change. Always work with a company specializing in setting up
businesses in the region to get advice and guidance on the
appropriate steps.

What Local Laws do I Need to Know About?

The Caribbean refers to a group of
independent island nations, each with their own unique rules,
regulations and laws. This makes doing your research and due
diligence a top priority when considering where to start a business.
You may want to consider hiring in expertise on citizenship by
investment to choose
the right investment program and help you navigate these
legal waters and ensure you are in full compliance with any local
rules and regulations.

Closing Thoughts

With the right planning and preparation, starting a
business in the Caribbean can be a highly rewarding experience that
you can reap the rewards from for years to come. However, due to the
unique process required for each island nation, it is often advisable
to seek out the assistance of a professional company dedicated to
helping professionals get set up right.

No
matter where you choose to open up your new business, we wish you a
successful launch and prosperity.