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Why you should consider a Caribbean citizenship program now

 

 
Sometimes, Caribbean citizenship programs or known as Golden Visa Programs are misunderstood and may be viewed as a “scam” by people that do not fully understand how the program works. These Caribbean citizenship programs are as legit as other countries’ residency programs around the world.
 
 
To simply put, when an investor invests in a residency by investment (RBI) or citizenship by investment (CBI) program, the country may grant residency status to that investor in exchange for his/her investment over a period of time. This is a win-win situation for both the investor and the country. The country gets its much-needed investment boost into the country and the investor gets his second residency status.
 
 
Caribbean countries’ golden visa programs work likewise. The only difference is that the Caribbean countries are offering a direct path to citizenship instead of permanent residency(as offered by most countries). Not only Caribbean programs are among the world’s most established and legit, but they are also among the oldest.
 
 
Caribbean citizenship programs are attractive to many because it is the cheapest entry level residency program for anyone seriously considering a 2nd passport. For example, UK Tier 1 visa requires a £2M investment, US EB-5 visa (US$900K), Ireland immigrant investor visa (€1M), and Cyprus golden visa (€300K). In comparison, Caribbean programs start from just $100K.
 
The question is why would we consider getting Caribbean citizenship as our secondary citizenship? Here are their top 4 appealing factors:
• Cheapest citizenship by investment program in the world. Entry-level investment.
• Quick approval – within a few months.
• Attractive tax incentives and benefits. Tax Haven.
• No residency or visit required.
 
That being said, people are also looking into investing in these Caribbean nations for their plan B in case something out of the ordinary happens. In this article, we will briefly explore 3 of the more popular Caribbean citizenship programs requirements:
 

St Kitts & Nevis Citizenship Program

Most popular Caribbean programs and among the oldest program in the world. St Kitts & Nevis has 2 options for the program. An investor can choose either route
Real Estate route
Recently, St Kitts has reduced its minimum investment requirement to $200K. Investors are required to keep the investment for 7 years. They are able to rent the real estate for income.
• Sustainable Growth Fund donation
A donation of $150K for a single’s application or $195K for a family of 4s
 

Grenada Citizenship Program

Grenada welcomes all nationalities to apply for the citizenship program. Another best-selling feature of this program is that Grenada has an E2 visa treaty arrangement with the USA. What this means is that their citizens are able to settle in the USA via the E2 non-immigrant visa.
Investors may choose either route:
Real Estate route
Grenada’s minimum investment requirement is $220K. Investors are required to keep the investment for 5 years. They are able to rent the real estate for income.
Donation route
A donation of $150K for a single’s application or $200K for a family of 4s
 

Dominica Citizenship Program

Like Grenada, Dominica also welcomes people from all nations to invest in their country. Dominica offers the cheapest route to citizenship in the Caribbean.
Investors may choose either route:
• Real Estate route
Dominica’s minimum investment requirement is $200K. Investors are required to keep the investment for 5 years. They are able to rent the real estate for income.
• Donation route
A donation of $100K for a single’s application or $200K for a family of 4s
 

Summary

If you are thinking of a 2nd passport or a plan B, Caribbean golden visa programs may be suitable for you. Investors can apply and receive their citizenship without going there. Caribbean passports are rated relatively strong, usually with more than 140 countries visa-free.
 
Business professionals may find that investing in Caribbean citizenship might form an important part of their tax strategy.
Recently, some of the Caribbean countries have been discounting the investment amount required for their visa programs. One of the reasons these small island nations need to raise capital to boost their economies is partly because of the Covid-19 pandemic which has devastated their tourist and hospitality industries, A way to raise funds is through this route. The discounts have been significant. For example, St Kitts & Nevis has reduced the real estate investment option amount to just $200K. Other island nations had followed.
 
With these reduced investment amounts, it is really an attractive deal, making this a really good time to consider investing in your secondary citizenship in the Caribbean. With the constant changes in the world, it is always prudent to have a plan B for you and your family.
 
Each Caribbean country has appointed authorized agents to submit applications for their citizenship program. It is advisable to make sure the agent that is handling your application is authorized.
 
Contact us to learn more about Caribbean programs.

 

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