Are you a US citizen who is not quite satisfied with the possibilities the Land of Opportunity has to offer and looking for new horizons and prospects in the bigger world? For Americans seeking to obtain a second passport through investment, the Caribbean comes with a range of attractive options. Be it St. Kitts and Nevis, Grenada, Antigua and Barbuda, or Dominica – they all stand out as top contenders, each with its unique advantages.
Citizenship by Investment Programs in the Caribbean
The Caribbean region comes with several CIPs that grant citizenship and passports to investors from overseas who make a donation to a government fund, invest in real estate, or participate in a business venture.
St. Kitts and Nevis: The oldest and most established CBI program on the planet, which requires a minimum donation of USD 250,000 (for a single applicant) or a minimum real estate investment of USD 400,000.
Antigua and Barbuda: Theirs is a relatively new and affordable CBI scheme with a minimum donation threshold of USD 100,000. If you decide to purchase real estate to become a local citizen, be prepared to pay at least USD 200,000 to qualify.
Grenada: To apply for a unique Grenada CIP, you will either have to buy properties worth USD 220,000 or more in the jurisdiction or donate USD 150,000. With the Grenada CBI, you’ll get access to the E-2 Treaty Investor Visa, which allows investors to live and work in the U.S. for up to 5 years.
Dominica: A CBI program that is fast and affordable, it asks for a minimum real estate investment of USD 200,000 or a minimum donation of USD 100,000.
St. Lucia: The jurisdiction boasts a flexible and competitive CIP. The lowest donation to qualify is USD 100,000 USD, while the minimum real estate investment makes USD 200,000.
With their relatively low capital requirements, straightforward due diligence process, quick and easy application procedures, and low risk of fraud or mismanagement by intermediaries or project developers, Caribbean CIPs are both simple and affordable for Americans.
They are also tax-efficient and tax-neutral, as most of the Caribbean countries do not tax their citizens or residents on worldwide income, and only the local income is taxed. This means that you may not have to pay taxes in both the Caribbean and your own country of residence unless there is a tax treaty or a foreign tax credit available.
Valuable and convenient, Caribbean CIPs grant you access to one of the most desirable and respected passports in the world, with visa-free or visa-on-arrival access to over 140 countries. They let you enjoy the rights and privileges of being a Caribbean citizen. We mean living, working, studying, and traveling in the region, as well as accessing social services, with healthcare, education, and retirement benefits among them.
However, as far as US nationals are concerned, the Caribbean CBI programs are not free of certain drawbacks.
The Caribbean countries may lack diplomatic ties with China, Iran, or North Korea. This implies that you may face challenges or delays in getting a visa or a waiver, or you may not be able to visit these states with your Caribbean passport.
In some of these paradise destinations, you’ll encounter certain obligations or requirements as an economic citizen. For example, you may have to keep a minimum amount of investment, stay in the country for a minimum amount of time, or renew your passport every 5 or 10 years.
Vulnerable and dependent at present the Caribbean states rely heavily on tourism, remittances, or foreign aid for their economic development. It makes them susceptible to natural disasters, pandemics, political instability, and other external shocks.
Hmm… and what about Europe?
In the European region, you’ll come across several CIPs that grant citizenship and passport to foreign investors (including those from the States) who purchase real estate, businesses, or government bonds.
Malta: To apply for the Malta CIP, you will have to either donate at least EUR 600,000 or purchase properties in the country worth EUR 700,000 or more. As a Malta citizen, you will enjoy access to the Schengen Area, the EU, and the Commonwealth of Nations.
Turkey: A popular low-cost CBI scheme, Turkish CBI requires a minimum real estate investment of USD 400,000 and offers access to the E-2 Treaty Investor Visa, allowing you to live and work in the U.S. for up to 5 years.
The above European CBI programs are appealing and worthwhile for Americans. They give you one of the best passports in the world, with visa-free or visa-on-arrival access to over 170 countries. Besides, you will enjoy the rights and privileges of being a European citizen, such as living, working, studying, and traveling in the region, and accessing social services like healthcare, education, and retirement benefits. The said EU CIPs offer you stable and secure investment opportunities, as most of the European countries have strong and developed economies, with a high standard of living, robust legal systems, diverse and innovative markets, and a high level of political and social stability. They also come with an attractive lifestyle, boasting rich and varied cultures, histories, and landscapes, to give you and your family many valuable opportunities, experiences, and memories to last a lifetime.
However, no garden is without its weeds, and European CIPs have their drawbacks too. They are costly and complicated, requiring a lot of money, strict checks, and long waits. With high fraud and tax risks, European CBI schemes may also end anytime.
Would you like to avoid the above pitfalls while enjoying the unparalleled advantages of both the Caribbean and European CIPs, no matter where in the world you come from? This is an easy goal to achieve, simply visit this site or turn straight to International Wealth experts for assistance. With their priceless recommendations, you are sure to find a CBI option out there in Europe or the Caribbean that will suit both you and your loved ones to a tee!
