What associations does one have with the Caribbean islands? Mainly, they are associated with sand beaches, blue sea, rich flora and exotic fruits. All these can really be found in the Caribbean countries. The Caribbean countries are also famous for their modern holiday resorts, perfect roads, high-quality medicine and good service. It is not surprising that more and more foreigners want to obtain Caribbean citizenship.
Imperial & Legal advisors will tell you what benefits Caribbean passport offers for you. Our experts have rich experience in immigration issues and have already helped dozens of people to obtain Caribbean citizenship.
Advantages of Caribbean passport
The main advantage of Caribbean passport is freedom of movement both for your own pleasure as a tourist and for business activities. Caribbean citizens have a visa-free access to more than 150 countries, including EU countries, the UK, China, Singapore and other Asian, Latin American and African countries.
If you need to go the USA, Caribbean passport will also provide you with some benefits. Though you will not have a visa-free access, you will be able to get an American tourist visa for 10 years and stay in the USA for up to half a year in one visit.
You can obtain Caribbean citizenship not only for yourself, but also for your family members. This policy is supported by the immigration authorities, and you will be granted a discount if you apply for “family” citizenship. In almost all Caribbean countries you can add not only spouses and children, but also brothers and sisters, parents and grandparents to your application. The only condition is that they must be financially dependent on you and have no source of income.
A pleasant bonus is that obtaining Caribbean citizenship you will be able to give high-quality education to your children. Caribbean countries are members of the Commonwealth of Nations. It means that Caribbean citizens can enrol into British universities at favourable terms. As for healthcare, you can use not only medical services in your second home, but also receive treatment in other countries either free of charge or at lower prices.
But, of course, the most attractive benefits are offered for businesspeople. First of all, you will be able to start an international business. Secondly, you will get an opportunity to optimise taxation, use offshore banks and work with foreign partners more efficiently.
It is important to mention that Caribbean authorities do not disclose the information about their citizens and their financial transactions. So, no one will learn about your income in your homeland.
Why is it more beneficial to take part in Caribbean and not in European citizenship by investment program?
A lot of people who want to obtain the second passport strive to get European passport at first. But then, they change their mind, as Caribbean citizenship by investment program has several advantages over European programs:
- In comparison with the EU citizenship by investment programs, minimum investment requirement in Caribbean programs is smaller.
- You will obtain Caribbean citizenship in 4-6 months. In COVID-19 pandemic some Caribbean countries have reduced the application processing time to 2 months. In Europe, it takes not less than 5 years to get citizenship under any circumstances.
- There are no obligatory tests for knowledge of an official language and history of the country. In most Caribbean countries, English is an official language. Though several dialects are spoken on the Caribbean islands, the foreigners do not have problems while communicating with local citizens.
- You can obtain Caribbean passport by post. The whole procedure is conducted remotely. This option is unavailable if you apply for European citizenship.
How to obtain Caribbean citizenship
Caribbean countries eagerly offer citizenship by investment programs since the investors promise financial assistance to their second homeland:
- contribution of at least $100,000 into the government fund that spends the money on improving the infrastructure;
- investment into real estate (completed or under construction) amounting to at least $200,000.
Antigua & Barbuda
The government of Antigua and Barbuda has lowered the minimum investment requirement for real estate purchases to attract investments in COVID-19 pandemic. Now, it is possible to obtain Antigua and Barbuda citizenship by investing $200,000 instead of $400,000. Minimum non-refundable donation into the National Development Fund still amounts to $100,000.
On August 10 the government also decided to suspend a five-year-long mandatory residence requirement for foreign investors with Caribbean passport.
It means that investors do not need to come to Antigua and Barbuda to get their second passport or to change an expired passport for a new one.
Grenada
If you want to take part in Grenada citizenship by investment program, you have two investment options: you can either contribute $150,000 to the National Transformation Fund or invest at least $220,000 into real estate.
To secure investments, the authorities keep special deposit accounts from which they send money to developers. The developers, on their part, have to inform the officials about the construction progress and provide them with financial reports.
During the pandemic, the applications are submitted remotely. You can send scans of your documents at first and then, provide the originals. You can also notarise your documents and take an oath though video conferencing with an authorised person.
Dominica
Dominican government provides favourable conditions for getting Caribbean citizenship in COVID-19 pandemic. If you make a contribution to the Economic Diversification Fund and want to obtain Dominica citizenship for a family of four, you will get a discount amounting to $25,000. So, minimum investment requirement for you will be $175,000 instead of $200,000.
All the documents are submitted remotely. The application processing will begin immediately upon receiving scans of your documents. It will take from 4 to 6 months.
St Kitts & Nevis
St Kitts & Nevis has one of the most long-running Caribbean citizenship by investment program that was launched 35 years ago.
There are two investment options: non-refundable contribution to the Sustainable Growth Fund (minimum investment – $150,000) or investment into real estate (minimum investment – $200,000). You will be able to recover your refundable investment in 5-7 years if you sell the real estate that you invested in. You will still remain St Kitts & Nevis citizen and retain the right to pass St Kitts & Nevis citizenship to your children.
An application is prepared and submitted together with the scans of the necessary documents remotely though an official portal. However, an investor still must pass a strict due diligence test that consists of 6 stages.
During the pandemic, application processing time has been reduced to 2 months.
Saint Lucia
Apart from traditional investment options (investments into the National Economic Fund and into real estate), St Lucia offers a special option of buying non-interest-bearing government bonds, The Special COVID-19 Relief Bonds. They cost $250,000, and you will be able to recover the sum completely after 5 years. You will obtain St Kitts & Nevis citizenship and a visa-free access to 146 countries, including the EU and the UK.
This offer is available till the end of 2024 since it became very popular among investors who try to reduce the losses for themselves, their family and businesses in these difficult times.
How to do it right
Most people who want to obtain Caribbean citizenship consult specialists. You can take part in Caribbean citizenship by investment program only though an authorised agent. You simply will not be allowed to submit application by yourself.
In one way or another, it is very important to consult an immigration advisor. Obtaining second citizenship is a complicated procedure, and it will take a lot of time and effort to learn about all the details. In the pandemic, it is even more difficult since the requirements are constantly changing. Since advisors monitor the process, they have enough knowledge and will be able to tell you about the latest requirements concerning submitting documents and communicating with immigration authorities.
Caribbean passport is a good investment that will quickly pay off and even bring you profit in form of dividends if you manage it wisely.
