In this globalized world, where every other individual wants to connect with other countries; immigration programs have gained immense popularity. Residency or Citizenship by Investment programs are both famous nowadays. When it comes to Citizenship by Investment programs, it means you will become a citizen after investing in their local economy. There are several options for investment like buying real estate, giving donations to their national funds, or by working as an entrepreneur like starting a business. Citizens get a second passport, which enables them to visit a country on that visa further. It then grants you plenty of perks to enjoy for the rest of your life.
Why To Invest in Citizenship?
- Visa-free travel access to over 155+ countries
- Chance to expand your business
- Enjoy all the rights as a native citizen
- Free education for children
- Tax savings
- Safety and Security
- Chance to experience diverse cultures
- Political and economical stability
- Access to excellent healthcare
Eligibility Criteria
- Effectiveness of the application
- Clean criminal record
- The high-net-worth of the host
- Excellent health history
- Police character certificate
- Minimum age
- Proof of investment funds
Citizenship by Investment Countries in 2024
Caribbean countries are famous for their citizenship by investment programs. However, a price hike of double is expected in 4 out of 5 programs by the end of June 2024. This means investors have a golden opportunity to get their Caribbean Second Passports under $100,000. Rest, the list of the programs is as follows:
Antigua & Barbuda
Antigua & Barbuda is often said to be the most suitable program for the larger families. There are several investment options in order to get citizenship. You can donate $100,000 to National Development Fund, $150,000 to the University Fund to become a citizen, and $200,000 to real estate. There is no such issue in this program but investors run away from this due to its condition for the investors to reside 5 days in 5 years.
Main Benefits
- Visa-free travel worldwide
- No interview is required
- Short investment period
- Minimum amount of time to spend in Antigua & Barbuda
- Family members inclusion
- Investment is required after approval
Dominica
There is no such requirement to reside in Dominica in order to get Dominica citizenship by investment. There are two investment options, and the investment starts from $100,000. You can invest $100,000 in the National Development Fund and $200,000 in the real estate option. There are certain requirements to meet before investing in holding the property and till when the ownership is to be maintained.
Main Benefits
- No travel and residency requirements
- Visa-free access to 140+ countries
- No specific interview is required
- Dual citizenship is allowed
- Children under 30, parents, and grandparents are included
Saint. Kitts & Nevis
Saint. Kitts & Nevis is known as the “Platinum Standard” when it comes to Citizenship by Investment. You can get its passport within 6 to 8 months by following certain criteria. For this program, there are two investment options. You can acquire citizenship by donating $250,000 to the Sustainable Growth Fund or investing $400,000 in real estate. The real estate amount is refundable, but the donation is not.
Main Benefits
- Visa-free travel to 150+ countries including UK and Schengen area
- Provides you with global mobility
- You can expand your business internationally
- No tax on incomes, capital gains, and inheritance
- Dual citizenship is granted
- No physical residence is required
- Short investment period of seven years
- Entire family inclusion
Saint. Lucia
Saint Lucia is known for its affordability yet adventurous and captivating cultural experiences. All the Caribbean Islands are famous for their nature and suitable weather conditions. However, Saint Lucia’s landmark, which is the twin-tapered mountains, makes it stand out from other programs. Though this program was launched in 2015, it became popular quickly due to its economically stable condition. Note that it’s a highly sought-after island that grants you citizenship within 6 to 8 months. For investment purposes, you can donate $110,000 or invest $400,000 in real estate.
Main Benefits
- Visa-free travel access to over 140 countries, which allows you to explore new spots
- Tax relief on worldwide income
- Saint Lucia allows dual citizenship
- The entire family can be included
- There is no need to reside in the country before or after your process
- Grants you a 10-year US visitor visa
Grenada
Whether an entrepreneur or an individual seeking citizenship, Grenada is famous for its visa-free travel access to the US. With its passport, you can travel to the Schengen zone and the USA on a USA E2 visa, allowing you to expand your business. It offers a lifestyle that one can dream of. Only within 4 to 6 months, you get your second passport. To apply for Grenadian citizenship, you can donate $140,000 or invest $220,000 in real estate.
Main Benefits
- Visa-free travel access to over 147 countries, including the UK, Schengen Zone, and Hong Kong
- Inclusion of Children till the age of 30 and parents till 55
- Short processing time
- Dual citizenship is allowed
- No physical residence is required
- Access to excellent education and healthcare
- Eligible to apply for a USA E2 visa, allowing you to live and work in the USA
Things to Consider Before Applying for Citizenship
- Check beforehand if the state you are applying to offers dual citizenship
- Normally, we neglect tax considerations but it plays a huge part. Tax advantages should be taken into account before applying
- Check what sort of benefits your passport offers
- Does your passport provide mobility
- Is there any language and culture barrier
- Check what sort of investment requirements you need to fulfill
Investment Options Under Citizenship Programs
There are several investment options for citizenship by investment programs. Investors need to invest in some of these options that are available in that country in order to get citizenship. Every option has some underlying investment amount to proceed further.
- Contribute to state fund
- Rent or purchase real estate
- Deposit in a bank
- Invest in business
- Create job opportunities for employees
- Invest in fund units
Process for Citizenship by Investment Programs
Application Submission
You submit your application directly or through your consultant which states about the program you are applying for.
Due Diligence
You go through a thorough medical, character, and physical background check.
Invest
Then comes the investment part. You need to invest in the approved options for that particular program.
Citizenship:
At last, if everything goes well and nothing interrupts (which usually doesn’t), you attain citizenship
Conclusion
There are multiple countries offering citizenship through investment programs. Every program has slight differences, which vary from country to country. Everything has been discussed in detail for your feasibility, from benefits to investment options. To make your process hassle-free, you can consider this guide and get benefits. The above-mentioned countries belong to the Caribbean Island which is famous for many reasons and this is why, people attract more towards them. Before applying, not just bend more on the verge of perks but check what this particular country offers. These requirements are similar to some extent except for the investment criteria. No country can be placed above others as each Citizenship by Investment program brings pros and cons. Just review the application carefully when making an investment decision.
