Caribbean is home to many HNW millionaires. Some of the wealthiest caribbean islands for years have attracted rich and wealthy for exotic holidays, low taxes and luxury real estate.

There are 14 million millionaires in the world in 2019. A small percentage of them frequently visit Caribbean and some of them call home.

So how many millionaires are there living in the Caribbean? We have some answers for you.

The Caribbean Millionaires

There are close to 1100 millionaires living in the Caribbean countries and this number is projected to increase by 2022.

Caribbean Millionaires


Wealth distribution  $5 million $50 million $500 million
2012210 <= 20<= 10
2016230<= 20<= 10
2017230<= 20<= 10
2022330 (48% increase)<= 20<= 10

Source: Knight Frank Wealth Report 2018


The Caribbean does not have many billionaires, but a handful of billionaires frequently visit and live in Caribbean islands.

Wealth Inflows

The Caribbean has been ranked sixth in attracting inflows of millionaires, according to Global wealth migration report 2019.

The report said the caribbean region had 2000 HNW millionaires inflows in 2018, up by 3% in Bermuda, Cayman, Virgin Islands, St Barts, Antigua, St Kitts Nevis etc.

Millionaire inflows in the Caribbean


A small percentage of these millionaires have already acquired second passports from Caribbean countries through citizenship by investment schemes.

According to Knight Frank Attitudes Survey 2019,

  • 36% of UHNWIs already hold a second passport, up from 34% last year, and
  • 29% are considering for second passports
  • 26% planning to emigrate permanently, up from 21%.

Caribbean Property Prices

There is a trend these millionaires invested in luxury homes in the Caribbean.

In terms of per square meter property prices, Bermuda, BVI and Barbados have the most expensive property prices.

CountryProperty prices per square meter
Bermuda$ 7,056
British Virgin Islands (BVI) $ 6,469
Barbados$ 4,467
Cayman Is.$ 4,163
Turks & C. Is.$ 3,884
Bahamas$ 3,632
Antigua$ 3,501
St Kitts and Nevis$ 3,496
St Martin$ 3,267
US Virgin Islands$ 3,235
Martinique$ 2,979
Guadeloupe$ 2,940
Trinidad & T.$ 2,334
Belize$ 2,322
Neth. Antilles$ 2,162
Dom. Rep.$ 2,078
St Lucia$ 1,860
Aruba$ 1,455
Jamaica$ 1,404
Puerto Rico$ 1,007

Source: Global Property Guide