The number of countries offering citizenship or residency by investment programs is steadily increasing. More and more people are also considering getting a second citizenship because of its many perks, including the freedom to travel and benefits like better tax treatment. This is why investors from different parts of the world see citizenship by investment as a safety net from the uncertainties in their home country
When thinking of the many future uncertainties, getting a second citizenship is a smart move. So if you have the means, look into some of the most sought-after citizenship by investment programs — and one of the best regions to consider is the Caribbean.
The Caribbean is one of the dream destinations for many because of the luxurious lifestyle it offers and the vast economic benefits it provides to high-net-worth individuals and business owners.
The perfect blend of natural beauty and tropical climate makes this region even more appealing. The warm, year-round breeze and sunshine, along with the stunning beaches, make the Caribbean a world-class paradise for anyone looking to relocate. Best of all, locals here are known for being among the friendliest people around the world.
Caribbean Citizenship: An Overview
Caribbean citizenship is the perfect opportunity for people wanting to move their family immediately while ensuring wealth preservation.
The region offers considerable advantages as a second home and private sanctuary. Interested applicants can apply for the citizenship by investment program by donating a minimum amount to a government fund or an investment in an approved property or business made through a licensed agent.
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Government donation
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Generally, the donations made to a government fund are non refundable, but are less expensive than investing in a business or property. These are established as non-profits bound by parliamentary oversight.
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Property investment
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Investing in real estate property ensures you not only have a place to stay but also a possible source of income if you rent it out. However, it’s up to you whether you choose to live on the island or make frequent visits instead. You may also have the opportunity to recoup your investment after five years of ownership.
The key to making a profitable property investment is to get yours only from developers with proven expertise in the Caribbean region and a reassurance to offer value over the citizenship included in it. It should also be in a location appealing to vacationers or buyers, so you don’t have to worry about leasing it out or re-selling it in the future.
To find the best property for you, compare all available properties for sale on the island you want to relocate to, and don’t hesitate to enlist the help of licensed agents who are well-versed with the region’s property market
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Business investment
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Besides real estate projects, investing in approved businesses is also an enticing choice for getting Caribbean citizenship. Investors can enjoy high returns, mainly because the region’s economy is growing due to high tourism demand.
Business investment options primarily focus on commercial development, including hotel projects. But future offerings may also include energy and food production.
Caribbean countries to consider
Here are the four Caribbean countries offering citizenship by investment programs. Discover the appealing benefits of each island, along with the different application requirements.
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Antigua and Barbuda
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The Antigua and Barbuda citizenship by investment program is the most cost-efficient and sought-after option for families of four wanting to get a second passport. Having an Antiguan passport allows holders visa-free access to more than 160 countries worldwide.
The government donation option is available from $100,000 (plus fees) for families of up to four or $125,000 (plus fees) for families of more than four. As for the investment route, applicants can either invest at least $200,000 in an approved property or $400,000 in a government-approved business. Moreover, applicants should have outstanding character, no criminal record, and be in good health.
No interview or travel to the country is required for the program. As of August 2020, the requirement to reside at least five days during the first five years has been temporarily suspended, initially for a year but later extended until August 31, 2022. This is due to the travel disruptions caused by the pandemic.
Processing of the application is fast. A second passport can be obtained within 3 to 4 months.
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Grenada
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Grenada citizenship is the best option for those who want to enjoy visa-free travel to Russia and China apart from more than 130 countries because it is the only citizenship by investment program that offers such benefits.
Moreover, it is the only Caribbean country that allows its citizens to apply for a visa in the USA.
Investment options include making a government donation of at least $200,000 and investing in government-approved real estate projects, either a share of at least $220,000 or an entire property amounting to at least $350,000.
Applicants don’t have to take exams in the history or language of Grenada and are not even required to visit the country throughout the process. The application pack will be delivered to the applicant by licensed agents, including pertinent documentation and detailed instructions. Once the application is submitted to the government of Grenada, expect an answer within 90 days. If everything is in order, they can issue the passports within ten working days.
But for the real estate investment option, the duration of the application process varies depending on the project. So it is crucial to choose projects with all the essential paperwork from the developer to speed up the process.
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St. Kitts & Nevis
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St. Kitts & Nevis boasts a lush rainforest, colorful beachside villages, and a brand new private jet terminal. It also has direct access from London, Toronto, Miami, Charlotte, New York, Atlanta, and other regions.
St. Kitts & Nevis’ citizenship by investment program offers a fast-track 60-day processing. Travel during the application and visit after becoming a citizen is not also required.
Investment options include a government donation of at least $150,000 and a real estate purchase of a minimum of $200,000.
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Dominica
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Dominica is known for its stunning natural environment and being an economically and politically stable country. Its economy is driven mainly by agriculture, promoting the production of cut flowers, exotic fruits, coffee, and patchouli.
Investment routes include a government donation of at least $100,000 and a real estate purchase of at least $200,000.
Recently, Dominica has issued e-passports to citizenship by investment applicants. It is the latest Caribbean country to offer a biometric passport, along with Antigua and Barbuda, Grenada, and St. Kitts & Nevis.
Caribbean citizenship investment programs offer unique perks.
But to ensure success regardless of which country you prefer, all applications should be made through authorized agents.
Partner only with an authorized firm that helps applicants at every stage of the application process and prioritizes the welfare of their clients.
