Citizenship of one of the Caribbean islands is a very good investment for both a businessman and celebrity. The former buys a local passport for the sake of favorable financial conditions, and the latest is for a vacation on a paradise. Besides, governments are friendly to foreigners. They offer profitable second-residency investment programs.
Benefits of Caribbean citizenship
Let’s start with the fact that the islands such as the Dominican Republic, Saint Lucia, Grenada are popular tourist destinations. Clean beaches, tropical climate, and exotic landscapes are already a good reason to want a local passport. In addition to this, the Caribbean is a part of the Commonwealth of Nations and offers many useful additions:
- access to visa-free travel to 120+ countries;
- a cheap and fast procedure for receiving a passport by investment;
- opportunity to add family members to the citizenship application;
- ability to open accounts in world banks;
- long-stay visa in the USA and Canada;
- benefits for education at prestigious universities for children;
- inheritance of citizenship.
The Caribbean region is known as a reputation offshore zone. The islands offer very profitable tax systems and conditions for conducting international business. The authorities are loyal to the desire of their people to keep the second passport in secret. Confidential data of enterprises in the country is also closed to international organizations.
Why are the islands so generous to foreigners?
A couple of decades ago, the economy of these small pieces of land was based only on agriculture. The Caribbean government decided to increase the inflow of foreign money not only by improving the conditions for tourists but also by a comfortable environment for businessmen. This was the reason for creating citizenship for investment procedures.
Interesting fact, the oldest programs are the ones of Saint Kitts and Nevis (1984) and The Dominican Republic (1991). Over the years, conditions have been refined and now meet international standards.
How to get second citizenship by investment in the Caribbean?
To begin with, you must select a country and a suitable program. If you apply to the migration company, they take responsibility for collecting the necessary documents, translating them into English and notarization. The term of preparation and filling out the submission form is about 1 week. Your presence is not necessary. The company contacts the authorities in the country you wish to obtain citizenship in on their own. You will receive a response in 2-7 months.
If you have not yet decided on an appropriate firm, pay attention to Migronis. They have their people in countries where they help with citizenship to avoid middlemen. All employees, from call center operators to lawyers, are qualified specialists. The company cooperates with the most popular islands in the Caribbean. The second option is to use the services of MigronisCitenzenship, which will help you get citizenship avoiding the middlemen.
Investment methods for Caribbean citizenship
The Caribbean countries offer roughly the same investment methods for issuing passports. Potential residents can choose between:
- Non-refundable investment in the local fund. Usually, the government offers organizations and sets a minimum amount of donations.
- Property purchase. Only projects approved by the government can participate in Caribbean citizenship program. These are hotel complexes mainly. You can sell property in 4-5 years or use it for vacating.
- Investment to the Caribbean business. This means a major financial investment in a project approved by the local government. This offer is available only on Saint Lucia with the required amount of $3.5 million.
The person applying for residency in the Caribbean must also pay a fee. It is difficult to name the average cost of a local passport. Basically, it’s about $150 000 for one person and $190 000 and more for a family of four. If you want to invest in real estate, the governments offer projects of $200,000 and more.