OBTAINING residency through financial investments is very popular among wealthy people today. A large concentration of states that are ready to issue a second passport for making investments in the economy is represented in the Caribbean. An impressive number of local countries offer attractive migration programs that give the right to Caribbean citizenship for business and visa-free entry into the territory of many countries.
Brief Overview of Caribbean Passport by Investment Programs
Investment programs in the Caribbean countries involve contributions to real estate and funds for the development of social and tourist infrastructure. Each state usually has several options to choose from. Caribbean citizenship programs apply not only to the investor himself but also to his family. The right is also transferred by inheritance.
The exact number of relatives allowed to be included in the application varies from country to country:
St. Kitts and Nevis. Grandparents, parents over 55 years of age, husband/wife, children under 30 years of age, and not financially independent.
Grenada. Sisters/siblings who are unmarried and of legal age, grandparents, parents, husband/wife, children under 30 years of age.
Dominica. Husband/wife, sisters and brothers under 25 years of age, children under 30 years of age, grandparents and parents at least 55 years of age.
Antigua and Barbuda. Grandparents from 58 years old, parents, sisters/brothers, children under 28 years old, husband/wife.
St. Lucia. Grandparents 65 years and older, parents, sisters/brothers under 18, children under 25, wife/husband.
Thanks to the migration program, the whole family can experience all the Caribbean passport advantages of the migration program. No additional investments are required for the rest of the family except for the investor.
Analyzing the Value Proposition of Caribbean Passports
According to Acyr Jardim (Imin Caribbean agency), the main advantage of obtaining a Caribbean passport is the high speed. It takes from 2 to 6 months to process and review documents. In many other countries, the process can take years without any guarantees.
Other pros include:
A relatively small amount of investment. To obtain a passport, on average, it is necessary to invest in the economy from 100 thousand dollars.
Absence of necessity for personal presence. In order to obtain citizenship, it is unnecessary to travel to the relevant state. The procedure can be entrusted to a specialized specialist who will submit the documents on behalf of the investor.
A 10-year visa for travel to the United States. One must only wait 2-3 weeks to become a travel visa holder.
Preferential education. Caribbean states are part of the Commonwealth of Nations, making their citizens eligible for discounted tuition fees at universities in the UK and a number of other countries.
Services by European banks and no taxes on inheritance, income, or capital gains.
Free use of cryptocurrencies.
In general, everyone can find their reason to apply for a Caribbean passport. The added worth of a Caribbean passport is the opportunity to live in a country with a wonderful climate and some of the best beaches.
Typical Investment Requirements for Caribbean Citizenship
The easiest way to obtain a passport is to invest in construction. Governments approve a list of objects that can be invested in, which guarantees additional transparency in the process. The advantage of this option is the possibility of selling the property after 3-7 years with extra profit. Usually, investment means purchasing a share in a spa center, hotel complex, or similar objects.
The second option is a gratuitous contribution to the state budget. The money is used for the development of transportation and tourist infrastructure. Thus, the investor receives not only a passport but also involvement in improving the lives of local citizens.
Visa-Free Access with Caribbean Passports
Obtaining a Caribbean passport means discovering the whole world. It gives the right to visit about 130-150 countries of the world under a simplified procedure or without a visa at all. The passport also makes it much easier to obtain a business visa.
Economic Benefits of Caribbean Citizenship
The Caribbean has a lenient tax regime. The absence of global inheritance and capital gains taxes is one of the key benefits of Grenada passport and other regional states. Thus, the investor can transfer the primary tax base to the second home, leaving minimal tax payments in the country of origin.
Assessing the Worth of Caribbean Passports for Investors
One needs to invest more than 200 thousand dollars in the economy to get a residence permit in most EU countries. At the same time, the residence permit implies many restrictions. The Caribbean passport requires only 100-150 thousand dollars of non-refundable investments. All other investments are returnable – from 200 to 400 thousand dollars.
Economic immigration to this region allows one to get a second passport with more opportunities and without huge expenses.
