In today’s globally complex market of inequalities, and socioeconomic and political unrest, the idea of a second passport or citizenship opens up many doors for those who are savvy enough to take advantage of it.
Caribbean passports are specifically of special interest. These island nation passports are the preferred choice among foreign investors, and with good reason. The Caribbean nations have long been stout supporters of foreign investments, privacy, reduced tax liability, stability and more.
The Global Capital of “Citizenship by Investment”
Known as the global capital of citizenship by investment, the Caribbean has built a reputation for its openness to grant individuals and their families the passport in exchange for an investment made in the country; investment in real estate, donations to the government and other avenues.
- A Dominican passport can be obtained in exchange for a$100,000 investment
- St. Kitts and Nevis Citizenship can beobtained in exchange for a $200,000 or $400,000 investment in real estate or a $150,000 investment into a development fund
How popular are these passports among foreign investors? Each year Caribbean island nations grant an estimate of 2,000+ passports through their citizenship by investment programs, a double-digit increase over the last five years alone.
What is the Attraction of Caribbean Passports for Foreign Investors?
There is no denying that the market for passports among foreign investors in the Caribbean has skyrocketed over the last few years, with investors flocking to these nations in record numbers.
But why the Caribbean?
hardship or uncertainty, political unrest, and more have all been major contributors
to this growing trend
,especially among Middle Eastern investors. But the
benefits of Caribbean passports go well beyond simply having a “second home” or
place of refuge.
The attraction of the Caribbean ranges from the freedom to travel globally, to reduced tax liabilities, unique investment opportunities, and more.
Caribbean Passport: Benefits Overview
For an investor, time is money and getting hung up with visa issues can mean losing out on time-sensitive opportunities. Over 160 countries currently open their borders freely to those holding Caribbean passports. Moreover, holders of Caribbean passports enjoy a much faster and a less complicated visa process for both USA and Canada.
Remote Oversight and Application Process
The Caribbean allow foreign investors to handle the application process of obtaining a passport remotely, with paperwork handled by a government approved firm and an international marketing agent such as Bluemina Citizenship and Residency.
Confidentiality and Privacy
In today’s digital age, information is everywhere, with privacy rapidly becoming a thing of the past. However, the Caribbean has always upheld the confidentiality of their passport holders and foreign investors, without disclosing information to any other third parties.
No Residence Requirements for Maintaining Status
Investors are not expected to visit or physically reside in the Caribbean during or after the citizenship by investment application process. This is in stark contrast to European countries which generally impose strict residency requirements.
Reduced Tax Liability
For investors, tax burdens can dramatically cut profits and reduceefficiency. The Caribbean has long been known and celebrated for its favorable tax laws.
A Safe Haven
For those living in areas of turmoil, or political or social unrest, having a “safe haven” to flee to in the event of a worst-case scenario can provide peace of mind for individuals and families alike.
Saint Kitts and Nevis
The St Kitts and Nevis citizenship by investmentprogram was established in 1984, making it the first and most trusted economic citizenship program worldwide. The program is highly favored among investors thanks to the islands’ stability, beauty and high levels of confidentiality.
Benefits of Saint Kitts and Nevis CitizenshipInclude:
- Visa-free access to more than 160 countries
- Reduced tax liabilities
- Opportunity to easily obtain long-term Canadian and US visas
- Minimum investment of $150,000 donation to the Sustainable Growth Fund
- Alternatives include a $200,000 or $400,000 investment into real estat; depending on the hold period
- Water-front property may be resold after 5-years
- No residency requirement
- Highest levels of confidentiality in the area
Antigua and Barbuda CBI Program
Since 2013, over 2000 applicants have been approved by the program, with its popularity being driven by the program’s unique facilitation of obtaining a 10-year US visa.
- A facilitated path towards a 10-year US visa
- A minimum donation of only $100,000orpurchase of $400,000+ villa or apartment
- A favored tourist destination with many amenities
- Robust real estate industry
Established since 1997, Grenada’s citizenship by investment program has grown by over 300% in the last two years.
- $200,000 donation for a family of 4orthe purchase of $350,000 in real estate
- Investor may opt to sell their property in 4 years
- Safe location with minimal risk from Atlantic hurricanes
Sprinkled with exquisite beaches and resorts, Dominica is one of the most cost-effective options for obtaining a passport in the Caribbean.
- Budget friendly:Non-refundable $100,000 donation to the Government Fundor $200,000 investment in real estate
- Real estate only has to be held for 3 years
The Saint Lucia citizenship by investment program was established in 2015, becoming the fifth country in the region to launch such investment program and allow all nationalities to obtain second citizenship in 4 to 6 months. The program also permits Iranian nationals to apply.
- Minimum $100,000 donation for an individual or $190,000 for a family of 4
- Alternative paths include a $300,000+ real estate investment
- The process is fast, taking only 4 short months
- Authorities have the right to reject any request by a third-party regardingconfidential information about an investor’s business activities
For those seeking opportunities, privacy, safety, stability, ease of travel and more, the Caribbean offers plenty of impressive options. Each nation has its own unique pros and cons that should be weighed against your own personal or business goals.
If you are considering a Caribbean passport, consider reaching out toBluemina Citizenship and Residency(bluemina.com)via email or phone today. Their team has helped countless foreign investors through the process of obtaining a passport in the Caribbean and would love to learn more about how they can help you do the same.
Author’s Bio:“RashaSeikaly, an IMC member, is Bluemina’s Head of Marketing. Bluemina provides families, individuals, and investors with the best and most expedited Citizenship and Residency by investment programs. “