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Caribbean Citizenship |
June 13, 2017
Historically speaking, foreign nationals have sought second citizenships or residency beyond the country they were born in, and usually to find better opportunities for themselves and their family. Over the last decade, a powerful class has emerged known as economic migrants who, like their predecessors, are also seeking better opportunities abroad by investing in another country’s economy. These types of schemes are known as Citizenship by Investment Programs (CIPs) and mostly found in Europe and the Caribbean.
If there is one thing our team at QICMS has learned, it’s that the Caribbean is a favorite topic among our readers. After all, who doesn’t enjoy reading about golden beaches, beautiful weather, and islands surrounded by dazzling turquoise waters? It’s certainly enough to appeal to anyone’s imagination about living in a tropical paradise—but what if it can become your own reality? It can, and here at QICMS we’ll tell you why.
Currently, the most popular Caribbean Citizenship by Investment Programs are offered by the governments of Antigua and Barbuda, the Commonwealth of Dominica, St. Kitts and Nevis, Grenada, and St. Lucia. Each island nation provides high net worth and ultra-high net worth investors the chance to obtain a second citizenship and passport, and for an affordable price. This last point is the most important when comparing investment requirements of Citizenship by Investment Programs available in European countries. It’s true that obtaining European citizenship is a benefit in its own right, but investors must be prepared to hand over millions in Euros in exchange. While there are plenty of high net worth and ultra high net worth individuals willing to make such an investment, there are just as many seeking more convenient options for their pocketbooks.
With that said, let’s take a moment to discuss the practical reasons for investing in the Caribbean. First of all, one of the most attractive features of Caribbean Citizenship by Investment Programs is the overall cost. When it comes to second citizenship and passport schemes, no one can top their affordability rates, with minimum investment amounts starting at USD $100,000 in St. Lucia or the Commonwealth of Dominica. Even more, no minimum investment amount in the Caribbean exceeds USD $200,000, which probably explains why tens of thousands of the world’s wealthy invested in second citizenship and passport schemes in 2016.*
You might be wondering if investing in a Caribbean Citizenship by Investment program means you and your family have to permanently relocate, and the definitive answer to that is “no.” Even though none of the Caribbean Citizenship by Investment Programs require long-term physical residency in your country of choice, most Caribbean programs do offer exclusive real estate property options, from resorts to timeshares to private homes for a quick holiday getaway. To date, Antigua and Barbuda is the only Caribbean Citizenship by Investment Program that requires successful investors to physically reside on the island and only for 5 days within a 5-year period. Let’s be honest: who wouldn’t want to spend a holiday in a tropical paradise?
This brings us to our next practical reason for investing Caribbean second citizenships: more travel freedom. Did you know that holders of Caribbean passports are given visa-free and visa-on-arrival access to more than 100 countries, including the UK and Schengen region? A passport from St. Lucia grants investors access to 125 countries, whereas the twin island of St. Kitts and Nevis grants access to 132 countries. In Antigua and Barbuda, citizens can travel to a total of 134 counties without the hassle of visa restrictions. Aside from affordability and convenience, it’s no wonder greater travel freedom afforded by Caribbean Citizenship by Investment Programs has become a major selling point for economic migrants.
*As mentioned above, Citizenship by Investment Programs (CIPs) are offered around the world, including European countries such as Malta, Cyprus, and Austria. However, investment amounts are substantially higher than second citizenship and passport programs offered by Caribbean nations.
When weighing out the practical reasons for investing in second citizenships and passports, you don’t have to be an economics expert to see why the world’s wealthy are opting for the Caribbean. Not only is it affordable, but investors are not bound by inconvenient residency requirements. On the contrary, holders of a Caribbean citizenship and passport are provided even greater travel freedom throughout North America, Europe, and beyond.
Are you interested in exploring Caribbean Citizenship by Investment Programs? Contact our office today to discuss you options for obtaining a second citizenship and passport in Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St. Lucia, or St. Kitts and Nevis.
If you would like to see our brochures for Caribbean Citizenship by Investment Programs, please request them here.
To view our Citizenship by Investment Program (CIP) comparison table, please click here.
To view our Citizenship and Residency Programs by Investment in Real Estate comparison table, please click here.
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