A New Movement: Millionaires Flock to The Caribbean for Their Second Passport

Many wealthy Americans, as well as Europeans, have started moving to the Caribbean countries. All this is happening under a very well-planned strategy. With the widely accepted Caribbean passport and the investment opportunity, you can also become a citizen of the world.

A second passport in Caribbean countries is your best bet if you want to secure your wealth and property and enjoy a tax-free experience. Caribbean countries provide travel and financial freedom and offer a luxurious lifestyle.

If you want to learn more about why the demand for a second passport in the Caribbean is so high, then you are on the right page of the web.

As in this article, we are going to discuss in detail citizenship by investment perks and requirements. We will also talk about the 5 most prosperous nations in the Caribbean. So, you get to choose Caribbean citizenship according to your investment plan. 

What is Caribbean Citizenship by Investment (CBI)?

Caribbean Citizenship by Investment, or simply CBI, started in 1984 in St. Kitts and Nevis, and later on, other Caribbean countries started offering these. Under CBI, Caribbean countries grant second citizenship to people and their families who make a specific investment to bolster their economy. CBI enables people to acquire dual citizenship faster than the traditional way.

Currently, eleven countries are offering Citizenship by Investment programs. However, the five most successful ones include

  1. St. Kitts and Nevis
  2. Grenada
  3. Dominica
  4. Antigua & Barbuda
  5. St. Lucia

Requirements for Citizenship by Investment?

  • Transferring a non-refundable fund amounting to $100,000 to the country’s Economic Development Fund.
  • By investing at least 200,000 USD to an approved real estate developer based in Dominica.
  • A clear criminal record.

Caribbean Passport

The Caribbean passport makes inter-region travel easier for the citizens and opens doors of new opportunities for them. Besides this, it also offers financial ease. A Dominica passport ensures you visa free travel to 140+ countries (including the Schengen states), Antigua and Barbuda’s passport enables access to 140 countries, and St Lucia’s passport – to 132 countries, etc.

What are the benefits of a Caribbean Passport?

CBI or citizenship by investment offers a ton of different benefits. Some of these are:

  • Global mobility and visa-free/visa on arrival to almost 150 countries.
  • Trade and business are more convenient.
  • Outstanding universities in Caribbean states offering premium grade education for children.
  • Dual citizenship status.
  • Settling in other countries made it easier.
  • Amazing real-estate investment opportunities.
  • Tax-free income, etc.

The 5 Most Successful Caribbean Nations

The most successful nations in the Caribbean are listed as follows.

Saint Kitts and Nevis Citizenship

The citizenship by investment program St Kitts and Nevis was introduced in 1984 and is the oldest CBI program. The applicants can easily obtain this passport if they follow a few important rules and fulfill all the requirements. The processing time is also short, and the fee for a single applicant is 150.000 USD. In contrast, the cost is 400,000 USD for a unit.

Grenada Citizenship

Grenada citizenship by investment program is the only program that offers visa-free access to China. It also enables the passport holder to be able to live in the US with an Investor’s Visa. This program was founded in 2013, and it allows access to Schengen countries, Singapore, China, the UK, Hong Kong, etc. A single applicant’s fee is 150,000 USD. On the other hand, the investment for a family of 4 is almost 200,000 USD.

Dominica Citizenship

Dominica citizenship by investment is one of the most famous CBI programs. You can attain a Dominican visa without having to first live in Dominica. It is one of the oldest and most successful citizenship by investment schemes. The investment cost to apply for the CBI program is also lower in Dominica. A single applicant’s fee is 100,000 USD and 175,000 USD for a family of 4. A Dominican passport will enable you to travel to more than 140+ countries.

St. Lucia Citizenship

The newest addition to the CBI programs is the St. Lucia citizenship by investment scheme. It was started in 2015. Though this program is relatively new, it is considered one of the best. A single applicant must pay 100,000 USD for St. Lucia citizenship by Investment program. It offers access to 146 countries, and it is a simple process. The applicant’s family can also get a passport without going through much hassle.

Antigua and Barbuda Citizenship

The citizenship by investment program in Antigua and Barbuda was also introduced in 2013. It requires an investment of 130,000 USD exclusive of government fees to the National Development Fund (PDF) for a family of four. It allows the family of passport holders to settle with ease. Moreover, it allows visa-free entry to 151 countries.

You can check the Caribbean Citizenship by Investment Comparison and can decide which is best for you.

Conclusion

Having second citizenship in a Caribbean country is the best way to ensure your property’s safety and tax-free services. It also enables you to make rewarding investments and have travel freedom to almost half of the world. You just need to invest in an approved real-estate development or the country’s official fund. After that, your passport will be ready in about 3-6 months.

However, in order to be able to apply for CBI in a Caribbean country, you need to satisfy a few requirements, or else your application may be rejected.