A second citizenship has become a necessary tool for the modern businessperson. As a business person based in the Middle East needing to rush to a meeting in Paris, then visit their child at an English university, second citizenship can be a cherished asset.
The COVID-19 crisis has taught us that not only is having a Plan B necessary, but sometimes it can make all the difference in your future and that of your family’s. It is the reason why demand for second citizenship has skyrocketed over the last year as many race to protect themselves from any further unpredictability.
Citizenship by Investment (CBI) Programmes offer an alternative path to securing second citizenship, beyond the traditional means of marriage or descent. It has become a popular option amongst time-pressed individuals who want a straightforward and simple process. Such programmes can be found in many parts of the world from Asia and Europe to the Middle East and Pacific.
However, there is one region that has become a leading destination within the investment migration realm. The Caribbean is home to the industry’s oldest programme in St Kitts and Nevis. Operating since 1984, the programme has gone on to inspire various adaptions across the globe, as well as amongst its Caribbean neighbours. The region boasts five CBI programmes in total, all of which are internationally acclaimed. However, Dominica and St Kitts and Nevis are the frontrunners, ranked as offering the best programmes in the world by the Financial Times’ annual CBI Index, published by the Professional Wealth Management magazine.
Introduced in 1993, Dominica’s CBI Programme has been recognised as the world’s best offering for second citizenship for the last five consecutive years. It remains one of the most affordable options on the market and has recently widened the number of dependants that can be included in an application, making it one of the most inclusive programmes.
Applicants can either make an investment in a government fund or through the purchase of pre-approved real estate. The latter offers properties from renowned hoteliers like Hilton, Marriott and Kempinski as well as boutique villas from Secret Bay or Jungle Bay eco resorts.
Known as ‘The Nature Island of the Caribbean’, Dominica has become a top destination for those wanting a simpler way of life that doesn’t compromise access to opportunities. The island has one of the region’s strongest visa-free travel prospects, shares close ties with financial hubs like the United States and United Kingdom and has a currency pegged to the US dollar.
St Kitts and Nevis
Dubbed the industry’s ‘Platinum Standard’, St Kitts and Nevis has enjoyed nearly four decades of experience within the CBI market. It has remained one of the most popular programmes available due to its longevity, quick processing times and its high due diligence standards.
Citizens of the dual-island nation gain access to greater travel freedom, alternative business prospects in an emerging crypto hub and the ability to pass citizenship down for generations to come, thus establishing your future legacy.
Under the Sustainable Growth Fund route, families of up to four can also take advantage of a limited time offer that enables them to acquire citizenship for $150,000 rather than the previous $195,000.