The Caribbean region offers a range of citizenship-related visa options through its Citizenship by Investment (CBI) programs. These programs provide successful applicants and their families with visa-free travel to over 140 countries, including the EU and UK, and the opportunity to work and settle in any other CARICOM Single Market and Economy (CSME) member states.
To explain the citizenship-related visas in Antigua, Grenada, and Dominica:
Antigua: In Antigua, to qualify for citizenship, individuals can make a non-refundable donation starting from $100,000 or invest in real estate from $200,000. This investment can lead to visa-free access to over 140 countries worldwide, including the EU and UK. Additionally, Antigua requires spending at least 5 days in the country within the first five years of obtaining citizenship.
Grenada: Grenada offers citizenship through a non-refundable donation starting from $150,000 or by investing in government-approved real estate from $220,000. This investment can lead to visa-free access to 144 countries worldwide, including the EU and UK. Grenada's Citizenship by Investment Program allows for a fast relocation route to the US through the USA E-2 Investor Visa.
Dominica: In Dominica, individuals can obtain citizenship by making a non-refundable donation starting from $100,000 or investing in real estate from $200,000. This investment can provide visa-free access to over 140 countries worldwide, including the EU and UK. Dominica's Citizenship by Investment Program offers an attractive tax regime with no tax on income, wealth, or inheritance.
These CBI programs are designed to promote foreign investment and enhance the economic infrastructure of the twin-island nations. They offer various investment avenues, including monetary contributions to national development funds, investment in real estate, or investing in approved business ventures. The application process is rigorous, ensuring that all potential citizens meet the nation's eligibility criteria and uphold its reputation on the global stage.
CARICOM, the Caribbean Community, is a regional organisation that aims to promote economic integration and cooperation among its 20 member states. CARICOM citizenship offers several unique benefits, including visa-free travel to over 140 countries and the right to live, work, and settle in any other CARICOM Single Market and Economy (CSME) member state.
CARICOM member states allow multiple citizenships, and there are no taxes on overseas wealth, capital gains, or inheritance tax. The CSME facilitates the free movement of goods, services, skills, capital, and the right to establishment, enabling CARICOM nationals to set up businesses across member states.
Caribbean Citizenship by Investment Programs Comparison
The Caribbean region offers a diverse array of Citizenship by Investment (CBI) programs which share common benefits that make them attractive options for investors seeking a second citizenship. Holders of Caribbean citizenship can work and settle in any other CARICOM Single Market and Economy (CSME) member state, offering flexibility and opportunities for relocation and business ventures. The region's favourable climate, stunning landscapes, low cost of living, and low crime rates make it an appealing choice for those looking for a peaceful and secure environment to reside in.
Furthermore, all Caribbean CBI programs allow for multiple citizenships, enabling individuals to diversify their citizenship portfolio and enjoy the benefits of different nationalities. These programs are known for their tax-friendly policies, with no taxes on overseas wealth, capital gains, or inheritance tax. This tax-efficient environment, coupled with the option to hold multiple citizenships, provides investors with financial flexibility and security.
Passing on Citizenship to Future Generations
Citizenship by Investment (CBI) programs in the Caribbean allow for the registration of children born within 5 years of an applicant obtaining citizenship as a citizen, subject to payment of fees. This provision ensures that the benefits of CBI-acquired citizenship can be passed onto future generations, providing a valuable legacy for families.
Antigua and Barbuda and Dominica have flexible policies regarding third-party sponsorship for CBI applications. Antigua and Barbuda allow for applicants to be sponsored by a third party without any additional costs, while Dominica permits third-party sponsorship with additional fees. This flexibility enables a broader range of applicants to access CBI programs, including those who may not meet the financial requirements independently.
Grenada, on the other hand, does not allow for third-party sponsorship in its CBI program. This policy may limit the pool of potential applicants who can benefit from Grenada's CBI program, but it also ensures that all applicants meet the financial and due diligence requirements set by the government.
CARICOM Citizenship: Gateway to Residency in 20 Caribbean Nations
CARICOM citizenship grants residency rights in 20 member states, including Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago, as well as Anguilla, Bermuda, British Virgin Islands, Cayman Islands, and Turks and Caicos Islands.
These nations offer diverse cultures, stunning landscapes, and unique opportunities for investment, retirement, or a second home. CARICOM citizenship allows for visa-free travel to the UK, with the exception of Dominica, which grants access only to the Schengen zone. The CARICOM passport, with its dark blue cover emblazoned with "Caribbean Community (CC)" and the name of the issuing country, is a vital travel document for citizens of the 15 member states, facilitating smoother travel both within. region and internationally.
Conclusion
The Caribbean offers a diverse range of citizenship by investment programs that cater to various investor needs and preferences, providing a unique combination of benefits, including visa-free travel, work opportunities, scenic surroundings, low living costs, safety, multiple citizenships, and tax advantages.
Source: https://economictimes.indiatimes.com/nri/migrate/antigua-grenada-dominica-citizenship-related-visas-explained/articleshow/109878509.cms
