GNICE: How to obtain second citizenship to five Caribbean countries via investment

Dubai: With the world coming out of the pandemic, immigration consultants and experts noted that more people have become keen on getting a second passport or citizenship.

At the three-day Gulf News Immigration and Citizenship Exhibition (GNICE), a special event dedicated to immigration and citizenship that opened in Dubai on Thursday, one of the subjects that experts talked about was the five Caribbean countries that offer citizenship by investment programmes.

These five Caribbean countries – Antigua & Barbuda, Dominica, Grenada, Saint Kitts & Nevis and Saint Lucia – have common features, including fast processing time (three-five months) to acquire citizenship and passport. There is also no need to reside in the country to obtain or maintain the citizenship. Language test is not required. More importantly, they can travel visa free to Schengen countries and several major destinations as well as stay in the UK for six months at a time. Moreover, citizens of these five Caribbean countries are not liable for taxes (wealth, gift, inheritance, foreign income, capital gains) and there are no restrictions on the repatriation of profits and imported capital.

Sam Bayat, founder and owner of Bayat Legal Services, said: “This is the best time for people to shop around and get information about Citizenship-by-Investment (CBI) and Residency-by-Investment (RBI) programmes in the Middle East.”

Here is the low-down on how to acquire citizenship in these Caribbean countries:

Antigua and Barbuda

This twin-island state is located between the Caribbean Sea and the Atlantic Ocean. It consists of two major inhabited islands, Antigua and Barbuda, and a number of smaller islands. The Antigua and Barbuda Government launched the Citizenship by Investment Programme in 2013, making it one of the newer Caribbean programmes.

Programme eligibility

Prospective citizens should be of good health; does not have criminal record; should be at least 18 years old. New citizens are required to reside at least five days within the first five years to renew their citizenship.

Benefits

Visa-free and visa-on-arrival travel to over 150 countries and territories, including Russia, Singapore, Hong Kong, UK and Schengen Area (27 countries).

Antigua & Barbuda imposes no tax on gifts, wealth,dividends, inheritance, capital gains and worldwide income.

Furthermore, the country allows dual citizenship, so there is no need to renounce one’s current citizenship.

Grenada

Grenada is a country in the West Indies in the Caribbean Sea, at the southern end of the Grenadines Island Chain.

Programme eligibility

Be of good health; no criminal record; should be at least 18 years old.

Benefits

Visa-free and visa-on-arrival travel to over 144 countries and territories, including China, Russia, Singapore, Hong Kong, UK and 27 Schengen area countries.

Minimal taxation and no taxation on gifts, wealth inheritance, capital gains, worldwide income. Grenada is the only Citizenship by Investment program which offers the opportunity to obtain an E-2 investor visa in the US.

Saint Lucia

Dubbed ‘Helen of the West Indies’, Saint Lucia is known for its natural beauty and diverse attractions, including the signature Piton Mountains, a UNESCO World Heritage Site, tropical rainforest and clear blue sandy beaches. The St. Lucia’s Citizenship by Investment Programme was launched in 2015, and is the newest one of the Caribbean programmes for Citizenship by Investment.

Programme eligibility

Be of good health; no criminal record; should be at least 18 years old.

Benefits

Visa-free and visa-on-arrival travel to over 146 countries and territories, including Singapore, Hong Kong, UK and 27 Schengen Area countries.

Minimal taxation and no taxation on gifts, wealth inheritance, capital gains, worldwide income. Saint Lucia allows dual citizenship, so there is no need to renounce current citizenship.

Commonwealth of Dominica

Dominica, officially the Commonwealth of Dominica, is an island country in the Caribbean.
Introduced in 1993 by its government, the Commonwealth of Dominica ‘Citizenship by Investment’ programme is one of the longest-running programmes in the world.

Programme eligibility

Be of good health; no criminal record; should be at least 18 years old.

Benefits

Visa-free and visa-on-arrival travel to over 143 countries and territories, including Russia, Singapore, Hong Kong, UK and 27 Schengen countries.

Minimal taxation and no taxation on gifts, wealth, inheritance, capital gains, and worldwide income.

Dominica offers citizenship for life that is applicable for future generations.

Saint Kitts & Nevis

Officially known as the Federation of Saint Christopher and Nevis, Saint Kitts & Nevis is an island country in the West Indies. Established in 1984, the St. Kitts and Nevis Citizenship by Investment Programme is the oldest of its kind in the world.

Programme eligibility

Be of good health; no criminal record; should be at least 18 years old.

Benefits

Visa-free and Visa-on-arrival travel to over 157 countries and territories including, Russia
Singapore, Hong Kong, UK
and 27 Schengen countries.

Minimal taxation and no taxation on gifts, wealth, inheritance, capital gains, and worldwide income

Holders of a Saint Kitts & Nevis passport can also apply for a 10-year business visa to the US.

Average cost and processing time

Saint Kitts & Nevis

Minimum contribution - US$150,000

Processing time - Four months

Grenada

Minimum contribution - US$150,000

Processing time - Five months

Dominica

Minimum contribution - US$100,000

Processing time - Four months

Saint Lucia

Minimum contribution - US$100,000

Processing time - Six months

Antigua & Barbuda

Minimum contribution - US$130,000

Processing time - Six months