A pleasant tropical climate, wide traveling, and business options make foreigners worldwide seek Caribbean Citizenship. And the number of applicants increases from year to year.
The Caribbean is the region where the first citizen-by-investment program appeared in 1984. Since that time, Caribbean citizenship has become the «gold standard» of the industry. The number of investors willing to pay for a second passport is only growing.
Today, five countries offer entrepreneurs to obtain Caribbean citizenship under a state program:
- Antigua and Barbuda
- Saint Lucia
- Saint Kitts and Nevis
Each of the programs has its differences in terms of requirements for investors. But they all have plenty of Caribbean citizenship benefits in common.
The best ones we will discuss are below.
Remote procedure and dual citizenship
When we talk about the reasons to obtain Caribbean citizenship, first of all, we should mention the simplicity and accessibility of the procedure. Entrepreneurs can get a Caribbean passport within two to six months. Moreover, applicants can submit documents and get a card remotely without coming personally to the country. So, you can get a second passport without leaving the house.
Also, there are no further special requirements for compulsory residence in the country.
The exception is Antigua and Barbuda: to be finally naturalized, a new national must arrive on the islands for five days in the first five years of their citizenship.
All Caribbean countries allow dual nationality, so neither you nor your family will have to renounce your native citizenship. However, you can immigrate at any time.
Low cost and investment opportunities
The entrepreneur always has a choice between a few investment options in the Caribbean economy. Purchase of real estate and grants to the state fund are available in all five jurisdictions.
The non-refundable contribution to the Caribbean economy starts from 100,000 dollars. Therefore, it is significantly less than EU residence permit programs require.
Investments in publicly approved construction projects are the second most popular method of obtaining economic citizenship. After three, five, or seven years of compulsory ownership, you can sell your property and return your money. As a rule, it is the purchase of a share in a building hotel complex or spa center.
Freedom of visa-free travel
Another advantage of a Caribbean passport is that Caribbean nationals can travel freely to more than 140 countries, including the Schengen area, the United Kingdom, and Singapore. In addition, a Grenada passport opens the door for visa-free entry even to China.
Caribbean citizenship also allows for obtaining a tourist visa to the USA for ten years faster. In this case, visa processing time takes about two to three months. In addition, investors with Grenada passports can receive an E-2 business visa to the USA for themselves and their families. This visa allows an unlimited number of times to enter the United States, live and work in the USA, send children to local schools and universities, and undergo medical treatment in US hospitals.
Favorable taxation and favorable investment climate
Caribbean citizens do not pay taxes on income, wealth, inheritance, capital gains, or outflows. For many investors, it is the essential benefit of Caribbean countries’ CBI.
According to Immigrant Invest agency expert Victor Esik, registration of a company in a Caribbean country gives the investor the following advantages:
- A company is registered anonymously. The anonymity is provided both for owners and managers of the business project.
- Company registration takes from one day to two weeks.
- Financial reporting is simplified, or in some cases, there is no necessity to prepare and submit financial reports.
- The new home country guarantees the security of the company’s financial operations.
- Сompanies registered in the Caribbean can easily integrate into the global business community.
Privacy and extra home country
The Caribbean passport is more than just a document for traveling worldwide. With it, you can reside in a secure country that attracts tourists with sunny beaches and nature. Moreover, it might be helpful during immigration in case of an epidemic and political or economic turmoil at home.
The application and obtaining passport processes are strictly confidential and secure. The information about your second citizenship will not leave your new home country. So, it is an exquisite advantage of a Caribbean passport.
From remote nationality procedures to freedom of visa-free travel and a favorable investment climate, these top Caribbean citizenship benefits are for investors seeking new business opportunities and additional safety and comfort.