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Everything you need to know about citizenship and residence programs around the globe.
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Before we begin exploring today’s topic, let’s establish why people need second citizenship at all. There are many reasons why foreign nationals might want to get a second passport. Here are some of them.
What would be your ideal solution for getting citizenship by investment in a foreign country?
All this and more you can expect from five Caribbean countries that offer their citizenship by investment programs. What you get:
Not all Caribbean countries are good for obtaining citizenship by investment. At the moment, there are five jurisdictions that operate such programs offering foreign nationals a passport and all benefits coming with it in exchange for their contribution to the local economy. They are Saint Kitts & Nevis, Antigua and Barbuda, Saint Lucia, Dominica and Grenada.
The choice of investment options and jurisdictions is shown in a table below.
$1,500,000 – investment in business
$400,000 – in property for 5 years
$100,000 – donation to National Development Fund
$150,000 – contribution to the Education fund
$200,000 – in real estate for 7 years
$400,000 – in real estate for 5 years
$150,000 – contribution to the Sustainable Growth Fund
$3,500,000 – investment in enterprise project
$300,000 – in real estate for 5 years
$100,000 – donation to the National Economic Fund
$500,000 – investment in government bonds
Investment in real estate for 3 years
$350,000 – for single investor
$220,000 – if 2 or more investors
$150,000 – donation to the National Transformation Fund
$200,000 – in real estate for 5 years
$100,000 – donation to the Economic Diversification Fund
Let’s have a look at main investment options for obtaining Caribbean citizenship.
The economies of former British colonies have achieved great results in the last ten years, but they do not stop at that. They have established development and diversification funds to help their countries thrive. Your contribution to such a fund will be non-refundable, i.e. you will not get your money back. But this is the only drawback of this investment, everything else are advantages.
Investment in Caribbean real estate is a good way to make money. Economic reforms and foreign investments are playing out well for the islands and attracting more visitors, holidaymakers and businessmen.
Therefore, if you buy an approved property in Dominica or Antigua, in 5 years you might get more than the $400,000 you have bought it for. Not to mention any rental income on top that you can get during these five years of ownership. If you are not selling, this Caribbean property can become your second home, safe and secure, whenever you need it. you can always rent it out to earn a good rental income.
First of all, if you want to take part in a citizenship by investment program, remember that you can only buy properties from the government approved developers.
Secondly, the minimum investment of $200,000 (Dominica, St Kitts & Nevis) will not buy you an entire property. Though real estate prices in the Caribbean are nothing compared to those in Europe for similar seaside properties, they are still higher than the above amount. Therefore, if you have limited resources, consider the second option – buy a share in a hotel or an apartment.
Next, bear in mind that you will be paying the price for ownership – property tax (if applicable), as well as maintenance fees and charges. However, if you are going to rent your flat or house, rental income should cover the above.
It is possible to bring annual rental income up to 3% of the purchase price. Interested? Talk to our experiences financial experts that know the Caribbean real estate market. We will recommend high-potential projects, developers and respectable and reliable managing companies.
Here are the reasons why this option may be appealing:
Same as with an entire place, you will be able to sell your share after a certain time. Recent trend in growing prices shows that you can even gain on resale.
Another reasonably cheap way of getting a Caribbean passport by investment is buying non-interest-bearing bonds in Saint Lucia for $500,000. Duties and charges apply.
Bonds will be issued in your name and you must hold them for at least 5 years. And as you might have guessed already, you will not get any interest from them.
If you want to apply for citizenship by investment for the whole family, the minimum amount for a couple will increase to $535,000, for a couple with two kids – $550,000.
Good thing about this option is that you spend similar amount of money that you would spend on a property, but it is protected by government guarantees. On the other hand, you are freezing half a million dollars for 5 years that would not bring you income.
We have not mentioned another option here, contributions to government funds, because that investment are non-refundable. Neither have we talked about business investments that start at $1.5 million in Antigua and Barbuda, because the same amount could buy you a Maltese passport.
Whichever option you choose, it is always advisable to consult expert immigration lawyers, especially if you want to make an investment and apply for a second passport remotely. Our qualified advisers will answer all your questions, help you choose a country of second citizenship to your requirements and take care of the whole process and paperwork till you get your passport.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
St Kitts & Nevis Citizenship
Antigua & Barbuda Citizenship
St Lucia Citizenship
Second passport by investment
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