If you\’re still unsure of why or whether getting a Caribbean passport can help you achieve your goals and if it’s right for you, here is the answer!
For investors or high-net-worth individuals looking for new business opportunities, economic and political stability, lower tax liability, and comfortable retirement, Caribbean citizenship makes a lot of sense. Apart from having a stunning and safe tropical country as a second home, Caribbean citizenship opens up myriad possibilities on both professional and personal fronts.
The Caribbean passport is issued by the 15 member states of the Caribbean Community (CARICOM) for their citizens. It was made to ease travel within the region and can be used both for intra-regional and international travel. The main Caribbean countries that provide citizenship are Dominica, Grenada, Saint Lucia, Antigua and Barbuda, Vanuatu, and Saint Kitts and Nevis.
Here are 6 reasons why Caribbean citizenship is an appropriate choice for investors and high-net-worth individuals to secure their funds, preserve their privacy, and protect them from unforeseeable risks.
Avoiding emergency scenarios
Investors can never know when their home country may experience emergency scenarios such as economic hardships, sanctions, political unrest, or currency devaluation, but obtaining a Caribbean passport is a good way to expand their options in terms of any crisis. Having a safe haven for their investments and family gives them peace of mind during times of conflict, or in case the situation goes wrong in their homeland.
Investing overseas
For investors looking to boost their business profits, investing overseas in rising emerging markets can be a perfect solution. A Caribbean citizenship can open myriad possibilities and enables its holders to invest in countries considered friendly for doing business and located in the heart of the Americas, thus, providing easy access to North, South, and Central America, and serving as a bridge to European markets.
Most Caribbean countries have international airports with daily flights to the United States, Canada, the United Kingdom, and major European countries, as well as South America. It also provides sea access via regional ports, which facilitates the trade of goods, raw materials, and equipment.
Many Caribbean countries have signed free trade treaties and partnerships, giving them preferential access to the world\’s largest markets. They also have well-developed infrastructure, strong telecommunication networks, and constant and affordable electricity and water supply. Land and office spaces are provided at cost-effective rates. The Caribbean is also politically stable and known for its economic growth and skilled labor. The residents are also fluent in English, Spanish, French, and Dutch.
Tax liability
Taxes may be the most compelling argument for investors living in a high-tax country to obtain a second passport. If your homeland country is taking a big chunk of your earnings, investors shall consider switching to a tax-free passport. Caribbean citizenship can be an efficient legal approach for reducing tax obligations, particularly for businesses incorporated in the host country. For instance, all Caribbean countries do not tax non-residents\’ worldwide income, and this is a remarkable business opportunity for entrepreneurs who want to maximize profits while minimizing costs. Investors can also avail the absence of several taxes that they are accustomed to paying in their homeland.
Caribbean countries have no capital gain or inheritance taxes, and residents of some states do not pay income and property taxes. Value Added Tax is not paid for financial, education, and construction services, as well as sales of real estate and agricultural products. The cost of living in Caribbean countries is also relatively low, so investing in a second home can add value to your investment portfolio.
Internationalize your life
With a Caribbean passport, individuals can internationalize their life and possessions. They can use the services of international banks, therefore, divide their assets in more than one bank, and create several accounts. If your passport was cancelled, or your money were lost for any reason, a second passport can be a safe haven for your possessions and future. Having a second passport can allow individuals to enroll their children in the best schools and world-class universities, and benefit from top-notch healthcare services as well.
Free visa access to over 130 countries
Applying for a visa before going on a business visit or vacation is a major hassle, and it may be frustrating, time-consuming, and costly. However, obtaining Caribbean citizenship grants investors and their families visa-free access or a visa upon arrival to at least 140 countries, depending on each country’s passport. They can move without visa to the European Schengen area, the UK, Singapore, Malaysia, main Latin America countries, and South African countries.
Caribbean citizenship also makes the process of applying for visas in North America much easier. As the world is becoming a much smaller place, with new investment opportunities popping up everywhere, a Caribbean passport allows foreign investors to travel freely to conduct due diligence and negotiate investment deals in person.
Easy application process
Having citizenship in the Caribbean is much easier than the process in other countries. By making a minimum of $100,000 contribution to a government development fund or $200,000 in a qualifying Real Estate investment, individuals can start the citizenship application process without the need for any visits, relocation, or interviews. All Caribbean authorities permit dual citizenship so that individuals will not have to renounce their first nationality. Applicants may include their spouse, children, parents, grandparents, and – in some instances – siblings in their applications.
Caribbean citizenship is also appealing for foreign investors because they are not required to wait years for citizenship, and don’t need to meet any residency or travel requirements to keep or obtain their citizenship. Applicants can apply remotely, and once approved; Caribbean citizenship holders can travel anytime to their second home country.
For more information required about the Caribbean countries that are providing citizenship by investment programs, the documents, and contributions required