Why So Many Foreign Investors Consider Obtaining a Caribbean Passport
News Americas, NEW YORK, NY, Thurs. April 23, 2020: Having a “second passport” or citizenship can open up a broad range of business opportunities. For those foreign investors looking to have more privacy, decrease tax liability, and take advantage of all-around stability, investing in a second citizenship often makes a lot of sense.
Obtaining citizenship in the Caribbean is much different than other countries’ citizenship processes. Instead of filling out mountains of paperwork, attending countless interviews, or having to live in the country you’re seeking citizenship in, you can fast-track your Caribbean citizenship by making an investment.
By making an investment in real estate or contributing to a country’s development fund, you can obtain citizenship expeditiously and reliably, opening up a myriad of possibilities on both professional and personal fronts.
The Benefits of a Caribbean Passport for Foreign Investors
In addition to having a beautiful tropical country as second place to call home, obtaining a Caribbean passport has many benefits that can give you, your business, investments, finances and family an upper hand.
Economic Advantage
Having Caribbean citizenship can be an effective legal strategy to lower tax liability, especially for those businesses incorporated in the domicile. For example, some Caribbean nations won’t even tax worldwide income for non-residents. This presents a great business opportunity for entrepreneurs who want to maintain high profits and reduce costs. Caribbean countries also have a comparatively low cost of living, and investing in a second home can be a value-added to your investment portfolio.
Security and Peace of Mind
You never know when your home country may experience economic hardship, sanctions, political unrest or catastrophe. Having a safe haven for you, your investments and your family gives you peace of mind in case things take a turn for the worst in your home country.
Visa-free Travel – open up possibilities
Having a second citizenship allows you and your family to travel freely to over 160 countries. Having a Caribbean passport also makes applying for visas in North America much easier. The world is a much smaller place, with investment opportunities popping up globally. A Caribbean passport allows savvy foreign investors to travel unencumbered in order to conduct their due diligence and broker investment deals in-person.
Straight Forward Application Process
The process for obtaining Caribbean citizenship is very well-defined. As a foreign investor, you have the flexibility to apply remotely and once approved, you can travel to and from your second home country as much or as little as you want. By hiring a firm such as Bluemina Citizenship and Residency that specializes in helping foreign investors obtain a second citizenship you can have your paperwork completed and confirmed citizenship in no time.
No Residency Requirements
One of the biggest inconveniences of applying for citizenship is the strict residency requirements most countries have in place. If your career requires you to travel frequently, this can make getting second citizenship almost impossible.
This is another factor contributing to why Caribbean citizenship is so appealing. Foreign investors don’t have to wait months or years to be granted citizenship. You also don’t have to fulfil any residency or travel requirements in order to maintain or get your citizenship.
Caribbean Countries offering Citizenship by Investment
Below are just a few of the island nations in the Caribbean that offer “citizenship by investment” programs ideal for foreign investors to explore and consider.
Saint Kitts and Nevis
The citizenship by investment program in Saint Kitts and Nevis is loved by many because of the country’s stability and strict confidentiality. Passport holders can take advantage of visa-free travel to over 160 countries and the opportunity to obtain long-term visas in the US and Canada.
Grenada
Within just four to six months, you could be a citizen of Grenada. The country is known for its breathtaking waterfalls and scenery. You can take advantage of visa-free travel to more than 130 countries and your citizenship extends to dependents like children, parents, or unmarried siblings. The E-2 agreement also allows you to operate businesses in the US.
The minimum investment requirement is a $150,000 donation to the country’s Sustainable Growth Fund. You may also choose to invest in real estate, and with the country’s allowance to resell waterfront property after just five years, this can present many business opportunities.
Antigua and Barbuda
Known as the CBI program, second citizenship in Antigua and Barbuda can help you obtain a 10-year visa in the US. The contribution requirements are lower than Saint Kitts and Nevis sitting at just $100,000. However, you can choose to invest in an apartment valued at $400,00 or more.
Bottom Line
If you’re looking for second citizenship and want to have economic stability for you, your investments and your family, a Caribbean citizenship may be your answer. Caribbean citizenship gives you the flexibility to travel freely to several countries and the citizenship process is much easier to go through as compared to other countries. Many Caribbean countries offer unique options to help your business and investments flourish, so take the time to figure out which one fits your needs best.
