For entrepreneurs, the idea of expanding horizons with a second passport is more relevant than ever. The concept of a “passport portfolio” is gaining traction, offering a safeguard against the risks of relying solely on one country’s citizenship. Much like financial diversification, this approach provides entrepreneurs with enhanced security, greater flexibility, improved global mobility, access to international markets and favourable tax environments.
While there are several paths to acquire dual citizenship, such as Citizenship by Ancestry, Naturalisation or Citizenship by Marriage, the easiest path is Citizenship by Investment, provided by some 20 countries, when a Golden Passport can be acquired in exchange for a real estate investment or state fund donation. As the demand for these programs has surged recently, the Caribbean Citizenship by Investment programs, provided by five Caribbean islands, have become increasingly popular.
Below brief guide explores the advantages of dual citizenship and highlights the key details of citizenship-by-investment programs in five Caribbean countries, known for their attractive offerings.
Advantages of Dual Citizenship
Dual citizenship means a person is legally recognised as a citizen of two countries simultaneously, offering several advantages:
- Visa-free or visa-on-arrival access to a broader range of countries and greater mobility. This can significantly ease international travel, making it more convenient and accessible, allowing easier travel and entry into more countries without visas.
- Residency Rights enable expanded opportunities to work, study, or live in either country without special permits, broadening career and educational prospects.
- Business Opportunities in both countries, often with fewer restrictions compared to foreign nationals.
- Economic benefits, such as property ownership rights and tax advantages, depending on the laws of the countries involved.
- Political Rights: right to vote in elections and even run for public office in both countries.
- Stronger cultural and familial connections with both countries, preserving heritage.
- Security and stability: In times of political or economic instability in one country, a dual citizen can relocate to the other.
Overview of CBI Programs in Five Caribbean Countries
Antigua and Barbuda
Investment Required: A donation of US$230,000 to the National Development Fund, a US$325,000 real estate investment, or US$1.5 million to establish a business.
Processing Time: Usually 3 to 4 months with a smooth process.
Travel Benefits: Citizenship allows visa-free or visa-on-arrival travel to over 150 countries.
Additional Details: The whole family can be included in the application. The applicant must spend five days in Antigua and Barbuda within the first five years of receiving citizenship.
Dominica
Investment Required: A donation of US$200,000 to the Economic Diversification Fund or a US$200,000 real estate investment.
Processing Time: Typically 3 to 4 months for a smooth process.
Travel Benefits: Holders of a Dominican passport can travel visa-free or visa-on-arrival to over 140 countries.
Additional Details: No physical residency is required. Citizenship is valid for life.
Grenada
Investment Required: A donation of US$235,000 to the National Transformation Fund or a real estate investment starting at US$270,000.
Processing Time: Typically 4 to 6 months with an easy application process; investment is only required after approval.
Travel Benefits: Visa-free travel to over 140 countries, including the UK, Schengen Area, Argentina, Brazil, China, India, and Russia.
Additional Details: No physical residency is required. Citizenship is for life and can be passed down to future generations.
Saint Lucia
Investment Required: A US$240,000 contribution to the National Economic Fund, a US$300,000 government bond investment, or a US$300,000 real estate investment.
Processing Time: Generally 4 to 6 months with a straightforward process.
Travel Benefits: Passport holders enjoy visa-free or visa-on-arrival access to over 140 countries.
Additional Details: No physical residency is required. Citizenship is for life and can be passed on to descendants.
St. Kitts and Nevis
Investment Required: A US$250,000 contribution to the Sustainable Island State or Public Benefit Option, or a real estate investment starting at US$400,000.
Processing Time: Typically 4 to 6 months with a transparent, straightforward process.
Travel Benefits: The St. Kitts and Nevis passport provides visa-free or visa-on-arrival access to over 150 countries.
Additional Details: Citizenship is valid for life. No physical residency is required.
