Caribbean Economic Citizenship: A Fast, Affordable Second Passport
There are five countries offering Caribbean economic citizenship programs – Grenada, St Lucia, St Kitts and Nevis, Antigua and Barbuda, plus Dominica. Indeed, the Caribbean citizenship benefits are diverse and each country’s program is tailored to meet the needs of different individuals and families.
Time is of the essence to protect your family, your freedom, and your assets. iGlobal is a qualified Caribbean citizenship by investment specialist providing efficient access to these five Caribbean programs.
How To Get Caribbean Citizenship
Qualifying for one of the five Caribbean citizenship programs is a simple 2 step process. First, the investor must complete the application process and then meet the minimum investment requirement.
- Application Process: To be sure, the application process for acquiring Caribbean economic citizenship is not easy. However, the process is only contingent on your financial means and medical history, plus verification of your personal and professional background. Simply put, if the source of your investment funds is legitimate, you can prove your identity beyond any doubt, you have a clean bill of health and no criminal history – you will be successful.
- Refundable Investment Options: These options include investing the required amount in government approved real estate, local business or government bonds which can be sold after a minimum holding period (usually 5-7 years). As a result, it is possible to recover your investment capital, accrue an investment yield and also make a profit on the sale of the assets.
- Non-Refundable Contribution: In contrast, this requirement can by met by making a non-refundable donation into the government’s development fund. As a result, it allows applicants to immediately meet the minimum investment requirement with no holding period. Additionally, it is not necessary to manage your investment or be concerned with fluctuating asset prices. Your contribution will help fund local initiatives such as education, health care, tourism, infrastructure and hurricane relief.
Caribbean Citizenship Benefits
Each of the five Caribbean economic citizenship programs are beneficiaries under the British Commonwealth system. As a result, in non-Commonwealth countries where their own country has no diplomatic or consular post, their citizens can receive assistance at the British Embassy or consulate. Additionally, they can apply for an emergency passport if theirs is lost or stolen. Also, the children of successful applicants from the five Caribbean countries can receive preferential treatment inside the UK for student visas and work visas.
Furthermore, the five Caribbean countries do not impose any conventional requirements such as fluency in the national language, marriage, family descent, religion, place of birth or double taxation. Additionally, none of the five Caribbean countries impose conscription into the military service. Indeed, each country promoted here is politically neutral and they do not maintain armed forces.
Exclusive benefits are offered by Grenada citizenship by investment which allows successful applicants visa free access to China and eligibility to apply for the US E-2 visa. Additionally, Grenada citizenship by investment is the only Caribbean country with an accredited medical school on the island.
A Caribbean citizenship by investment comparison reveals each country’s specific benefits regarding the inclusion of dependents such as siblings, parents, grandparents and newborns. Additionally, Dominica and St Lucia citizenship by investment now allows the addition of dependents to the application after citizenship was granted.
History of Caribbean Economic Citizenship
Caribbean Economic citizenship is a relatively new development. In 1984, St Kitts and Nevis developed the world’s first citizenship by investment program in order to diversify their economy. Unfortunately, their economy had overly relied on the sugar industry for far to long. Therefore, when sugar prices collapsed in the middle of the 20th century their small island nation had an economic crisis.
Indeed, the St Kitts and Nevis citizenship by investment program was a huge success and the economy stabilized. As a result, many other developed and undeveloped countries have since followed in their footsteps. This would include some of the other Caribbean countries plus Vanuatu, but ironically the world’s largest developed economies followed suit. Indeed, the largest competitors to the original Caribbean economic citizenship countries are the United States and European Union.
Dual Citizenship by Conventional Means
Prior to the introduction of the Caribbean economic citizenship programs, obtaining a second passport by conventional means was the only option available. These conventional means remain intact, however they can be very expensive, time consuming and sometimes fate also must play a part. With the exception of naturalization by birth all of the conventional means involve what is invariably a long and arduous process.
List of Conventional Means:
Citizenship by Naturalization – most countries provide the path of second citizenship to immigrants who fulfill certain requirements. However, this may involve a lengthy period of residency, fluency in the national language and taking a pledge of allegiance. Unfortunately, swearing allegiance to the host country may involve renunciation of your current citizenship.
Citizenship by Marriage – acquiring a spouse from the issuing country has long been a conventional means of acquiring dual citizenship. However, very few instant citizenship countries will grant citizenship to the new spouse on the wedding day (e.g. Iran). Additionally, a marriage can be fraught with domestic complications. Furthermore, many countries have passed laws against sham marriages. Therefore, marriage is only a reliable method to obtain dual citizenship if it sustainable.
Citizenship by Religion – some instant citizenship countries such as Israel will grant citizenship based on religion. As a result, all Jews are allowed to immigrate to Israel and will be given a fast tracked path to citizenship. Additionally, dual citizenship is allowed but Israeli citizens can only enter Israel by using their Israeli passport.
Citizenship by Descent – historically many free citizenship countries have granted dual citizenship based on descent. As a result, if your parents or even grandparents are citizens of the issuing country then you may be granted a new second passport. In recent times many free citizenship countries have modified traditional laws to permit descent to be traced through either parent. Although descent had previously only been traced through the father.
Citizenship by Adoption – a minor who is adopted by parents that are citizens of the issuing country is usually granted citizenship.
Countries that Prohibit Dual Citizenship
Investors pursuing the cheapest citizenship by investment need to confirm if dual citizenship is permitted. Some countries such as Singapore have long been the darlings of the financial elite seeking tax havens. However, Singapore and a few other countries have decided to put sovereign unity ahead of their citizenship by investment programs. Therefore, you may be required to renounce your current citizenship before acquiring a new passport from a short list of countries. This can be done by requiring applicants to forfeit their current citizenship or revoking existing citizenship from citizens who subsequently acquired dual citizenship.
Dual Citizenship is not Permitted: Andorra, Austria, Azerbaijan, Bahamas, Bahrain, Belarus, Bhutan, Botswana, Brunei, Burma, Botswana, Chile, China, Congo, Cuba, Czech Republic, Denmark, Djibouti, Ecuador, Estonia, Ethiopia, Fiji, Haiti, India, Indonesia, Iran, Japan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Korea, Latvia, Lithuania, Laos, Papua New Guinea, Peru, Poland, Macau, Malaysia, Mauritius, Marshall Islands, Mexico, Micronesia, Monaco, Mongolia, Mozambique, Nepal, Netherlands, North Korea, Norway, Oman, Poland, Qatar, Romania, San Marino, Saudi Arabia, Singapore, Slovakia, Solomon Islands, Swaziland, Tajikistan, Thailand, Tonga, Turkmenistan, Ukraine, United Arab Emirates, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe