If you’re looking to secure a better future for yourself and your family, get access to quality healthcare and education systems or expand your business globally, you’ve come to the right place. You can do all that by getting a second citizenship.
There are various ways to obtain dual citizenship. However, the fastest way is to buy one. Yes, you’ve read that right – you can obtain a second passport by investing in a foreign country, whether it’s a real estate investment, one-time non-refundable investment in National Funds, or the UWI – University of the West Indies.
The Caribbean governments are willing to grant you a passport in exchange for a viable donation to their economies, so in this guide, we’ll focus on how you can obtain citizenship by investment, in which countries, where you can learn more about the application process, terms, and conditions and where you can acquire legal advice.
What is CBI – Citizenship By Investment?
Citizenship by investment is an economical type of citizenship where a foreign investor invests a certain amount into a foreign country. The investment can be deposited in real estate or national funds in exchange for a second passport.
The investor then gets a passport and receives all of the fundamental rights in the second country, like access to social services like healthcare and education, the right to leave and return to the country anytime, and the right to work and live in the country, etc.
Before you start the application process, it’s vital that you consult an authorized entity that will guide you through the process and take care of the paperwork.
How Can You Obtain Dual Citizenship by Investment?
You can obtain dual citizenship by investing in real estate or government funds. For example, obtaining a passport from Grenada will cost you around $150,000 in a non-refundable donation to government funds or a $200,000 investment in real estate. You must keep the property for at least 5 years at the time of your citizenship approval!
Acquiring citizenship from St. Kitts and Nevis will cost you $150,000 in the Sustainable Growth Fund (SGF), $175,000 in the Alternative Investment Option, or $200,000 in real estate.
Citizenship by investment is considered an exclusive shortcut to getting a second passport. However, you need to be aware of the conditions, options, and rules when choosing the country to invest in. Most countries that host CBI programs have favorable terms and conditions for their applicants, so make sure you choose one that fits you best.
CBI programs are the portal to a new passport. You and your family can acquire dual citizenship and the right to travel visa-free to more than a hundred destinations worldwide in exchange for a particular investment.
Countries, where you can obtain citizenship by investment are; Antigua and Barbuda, Grenada, Dominica, Austria, Jordan, Malta, St. Kitts, Nevis, Turkey, and Montenegro, as well as obtaining St Lucian citizenship by investment is one of the most commonly chosen one among people across the globe.
What Are The Benefits?
With a second passport, you have an open door of opportunities. You have access to better healthcare and education systems and you can improve your quality of life. Additionally, you’ll have a plan B in case of political and civil unrest, economic instability, or even a war, where you can relocate your assets and family.
Furthermore, you can save on currency exchange since the value in one country varies differently converted to the value of a foreign country. So, the money from your country of origin might have higher buying power in the new country where you’ll obtain citizenship.
The opportunity for lower taxes is another benefit dual citizens get. For instance, if you are a passport holder from a Caribbean country, your taxes will be significantly lower compared to other countries. Some Caribbean countries have no taxes on capital gains, inheritance, wealth, and crypto.
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What Are The Requirements?
Each country has different terms and conditions when it comes to offering alternative citizenship to foreigners. But the requirements below are universal for all CBI programs:
- Be at least 18 years old;
- Have no criminal record;
- Declare a legal source of income for your investment;
- You must invest either in real estate, government bonds, economic funds, or government-approved projects;
- All of the above must be met.
Additional Info – Beware that in some countries, additional rules may apply!
A second passport is always welcomed. So, make sure you check your options and seek legal advice before you invest. Visit our blog to learn more about the CBI programs, the application process, and the required documents for dual citizenship.