Economic citizenship or citizenship by investment is a legal process that allows you to acquire the citizenship of another country by making an investment in that country’s economic growth.
If you have the means, obtaining citizenship through investment is one of the best and simplest ways. In most cases, you don’t even need to reside in that country. The application processing time is relatively quick and hassle-free. Additionally, you can pass on citizenship to your family members and future generations.
People immigrate for various reasons, such as security, a better quality of life, independence, access to superior healthcare facilities, job and business opportunities, a favorable environment, good weather, and benefits for themselves and their future generations.
Caribbean countries offer relatively easy pathways to citizenship. Keep in mind that, in addition to the investment, you may need to pay separate processing fees. Furthermore, the investment amounts, processing fees, rules, and terms and conditions may change in the future.
Your application and supporting documents must be accurate and complete. Incorrect or insufficient information may lead to your application being rechecked or rejected.
Citizenship by Investment –Ā Benefits
Imagine having the power to unlock new horizons with the wave of your passport! Citizenship by investment, or CBI, is your golden ticket to becoming a citizen of another country simply by making a significant financial investment in that nation. It’s like getting an exclusive membership to a global club.
**1. Jet-Set Lifestyle: One of the coolest perks of CBI is the ability to travel the world with ease. Think of it as having a passport that’s like a magic key; it can open doors to many countries without the hassle of obtaining visas. It’s perfect for globetrotters!
**2. Safety and Serenity: Imagine living in a country known for its political stability and safety. CBI offers you a chance to call such a place home. No more worrying about unrest or insecurity back in your home country.
**3. Business Bonanza: If you’re an aspiring entrepreneur, CBI can be a game-changer. It can grant you access to a business-friendly environment, tax advantages, and a network of potential business partners. It’s like giving your business dreams a head start.
**4. Top-Notch Services: Some CBI countries offer citizens access to world-class healthcare, education, and social services. This is a big win for families looking to provide their loved ones with the best.
**5. Tax Bliss: The cherry on top? Tax benefits! Some CBI programs come with low or even zero taxes on income, capital gains, or inheritances. It’s like a financial oasis for savvy investors.
**6. Real Estate Riches: Many CBI programs involve buying real estate in the host country. This investment can potentially appreciate over time, making it a win-win situation.
**7. Diversify Your Life: CBI allows you to spread your wings by owning citizenship in multiple countries. This diversification can act as a safety net, ensuring you’re not overly dependent on one place.
**8. Educational Excellence: For parents, CBI countries often provide access to top-notch educational institutions for your kids. Imagine giving them the best shot at a bright future!
**9. Retirement Retreat: Planning for retirement? CBI can help you retire in a paradise-like setting with a great lifestyle and excellent healthcare facilities. It’s like living your golden years in style.
**10. Skip the Wait: Unlike traditional immigration routes, CBI programs usually skip the long residency requirements. You can become a citizen in a relatively short time.
But, hold on! Before you start dreaming about your CBI adventure, remember that it’s not all sunshine and rainbows. Some CBI programs can be expensive, and you’ll need to keep up with financial obligations. Also, each program has its own rules and regulations, so it’s essential to do your homework and maybe even consult with experts.
In a nutshell, CBI is like a doorway to a world of possibilities. It’s a chance to upgrade your life and your family’s future. But, like any exciting adventure, it requires careful planning and a clear understanding of the journey ahead. So, pack your bags (and your research), and get ready to explore the world through the lens of citizenship by investment!
Top 5 Cheapest Countries for Citizenship by Investment
Let’s take a look at five countries where you can obtain citizenship easily and at a reasonable cost.
- St. Lucia
St. Lucia is a beautiful volcanic tropical island known for its stunning beaches and pleasant weather, making it a perfect holiday destination. It attracts not only tourists but also wealthy and famous individuals.
You can obtain St. Lucian citizenship without visiting or residing in the country. You can also include your partner, children under 31 years, parents over 56 years, and siblings under 18 years in your application.
There are four investment options to acquire citizenship in St. Lucia:
- Firstly, as an individual, you must donate $100,000 (approximately Rs. 75 lakhs) to the National Economic Fund.
- If you wish to apply as a married couple, the amount is approximately $140,000 (about Rs. 1.04 crore), and if you are including two or more dependents, it will be $150,000 (around Rs. 1.11 crore).
- The second option involves a real estate investment of at least $300,000 (approximately Rs. 2.23 crores), with the requirement that you do not sell the property for a minimum of five years.
- In the third option, as a single applicant, you must invest a minimum of $3.5 million (around Rs. 26.09 crores) in an approved business venture in St. Lucia. Alternatively, you can invest at least $6 million (about Rs. 44.73 crores) in a joint venture.
- The fourth option entails investing at least $500,000 (around Rs. 3.72 crores) in government bonds. This investment does not yield interest, and you must retain it for a minimum of five years. The bond price has decreased due to COVID-19, and you only need to invest $250,000 (approximately Rs. 1.86 crores) until December 21, after which the price may increase.
The processing time is approximately three to four months, and St. Lucia passport holders enjoy visa-free or visa-on-arrival access to Europe’s Schengen Area, the UK, Singapore, and other countries.
2. St. Kitts and Nevis
St. Kitts and Nevis are dual Caribbean islands known for their natural landscapes and beautiful beaches. Many people, especially those from the UK, France, and the US, have made these islands their second homes. St. Kitts and Nevis are also well-connected to Europe and the US.
You don’t need to reside in these islands to obtain citizenship. You can include your spouse, children under 31 years, unmarried siblings under 31 years, parents, and grandparents in your application. Citizenship can also be passed on to future generations.
Holders of St. Kitts and Nevis passports can travel to more than 157 countries visa-free or with visa-on-arrival privileges.
There are two ways to obtain citizenship in St. Kitts and Nevis:
- Make a contribution of $150,000 (approximately Rs. 1.11 crore) as a single applicant. If you want to include your spouse, you will need an additional $25,000 (around Rs. 18.63 lakh), and for extra dependents, it’s $10,000 (about Rs. 7.45 lakh) per person. This contribution goes to the country’s Sustainable Growth Fund.
- Purchase government-approved real estate for at least $400,000 (approximately Rs. 2.98 crore) and hold the property for a minimum of five years without selling it. Alternatively, you can invest $200,000 (around Rs. 1.49 crore) in property, with the condition that you must hold it for at least seven years.
The application process takes approximately three to six months.
Grenada
Grenada is a splendid Caribbean island renowned for its beautiful landscapes, pleasant climate, and stunning beaches. The great news is that you don’t need to reside in Grenada to obtain citizenship. You can include your spouse, children under 30 years, unmarried siblings, parents, and grandparents in your citizenship application. The processing time for Grenadian citizenship is typically 3 to 4 months.
Holders of Grenadian passports enjoy visa-free or visa-on-arrival access to 144 countries, including the Schengen Area in Europe, the UK, Singapore, Hong Kong, and even China. Yes, Grenada is the only Caribbean citizenship-by-investment program that offers visa-free access to China, although it may not be a popular destination for many.
Grenada is unique among Caribbean nations because it has an E-2 Investor Visa Treaty with the United States. This treaty allows residents of Grenada to apply for non-immigrant visas to the US.
Obtaining Grenadian citizenship is straightforward. You have two options:
- Make a minimum donation of $150,000 (around Rs. 1.11 crore) to the Grenada National Transformation Fund. If your family consists of four members or more, the donation amount is $200,000 (about Rs. 1.49 crore).
- Alternatively, invest at least $220,000 (approximately Rs. 1.64 crore) as a co-owner in local real estate properties and hold the investment for a minimum of five years.
Antigua and Barbuda
Antigua and Barbuda are Caribbean islands known for their pristine beaches and crystal-clear blue-green waters. These islands are considered among the most beautiful in the world.
To obtain citizenship, you have several options:
- Make a minimum donation of $100,000 (approximately Rs. 75 lakh) to the National Development Fund (NDF). This donation covers the main applicant and up to three family members. If your family consists of five or more members, the donation amount is $125,000 (around Rs. 93 lakh).
- Another option is a non-refundable contribution of $150,000 (about Rs. 1.11 crore) to the University of the West Indies.
- You can also make a direct investment in a business related to real estate or tourism with a minimum value of $1.5 million (approximately Rs. 11.18 crore) as an individual. If you want to make a joint investment, each person’s contribution should be $400,000 (about Rs. 2.98 crore), and the total investment in joint ownership should be $5 million (around Rs. 37.27 crore).
- The fourth option is to purchase real estate with a minimum value of $200,000 (about Rs. 1.49 crore). You can sell this property after five years.
The processing time for Antigua and Barbuda citizenship applications is approximately four months. Passport holders enjoy visa-free or visa-on-arrival travel to 151 countries, including the UK, the Schengen Area in Europe, Singapore, and Hong Kong.
You can include your spouse, dependent children under 31 years old, unmarried siblings of any age, parents, and grandparents in your citizenship application. You can also extend this citizenship to future generations.
It’s worth noting that you need to spend at least five days in Antigua and Barbuda within five years before obtaining citizenship. However, due to various travel restrictions resulting from COVID-19, this requirement may not currently apply. Nevertheless, it was reinstated after August 31, 2021.
Dominica
Please note that Dominica should not be confused with the Dominican Republic.
Dominica, one of the most stunning islands among the Caribbean countries, offers one of the easiest and most affordable paths to citizenship. Dominica boasts captivating landscapes that are Instagram-worthy!
To obtain Dominican citizenship, you don’t need to reside in Dominica. With Dominican citizenship, you can enjoy visa-free or visa-on-arrival travel to 144 countries, including the Schengen Area in Europe, Singapore, the UK, Hong Kong, and many others.
Applicants are required to either make a non-refundable contribution to the Economic Diversification Fund or invest in luxury-oriented hotels and resorts. There are two options:
- Economic Development: Make a non-refundable contribution of at least $100,000 (approximately Rs. 75 lakh).
- Real Estate Investment: Invest a minimum of $200,000 (around Rs. 1.49 crore) in approved real estate.
With Dominican citizenship, you can extend this privilege to your spouse, children under 31 years of age, unmarried siblings under 26 years old, and your parents and grandparents, regardless of their age. You can also pass down citizenship to future generations. The visa processing time is approximately 3 to 4 months.
