The citizenship by investment (CBI) term refers to a one-time investment that allows you to get a second passport from a different country. In the 90s’, only certain countries had passport programs in place, however, with the start of the 21st century, the Caribbean region started implementing CBI programs.
St. Kitts and Nevis and Dominica were the first to offer legitimate and realistic conditions for citizenship in exchange for a monetary contribution to their economies. The investment options include investing in real estate, national funds, government bonds, or establishing a business in the country.
But why is dual citizenship one of the most lucrative investments today? More so even than investing in expensive cars, watches, or bags? In this extensive blog, we’ll discuss why many wealthy individuals invest in citizenship. Let’s find out!
A second passport unlocks unlimited opportunities in terms of business expansion, freedom of mobility, a better quality of life, access to world-class healthcare and education systems, etc. Many investors believe that citizenship by investment is a beneficial option that enables them to achieve their goals and improve their lifestyles.
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And while some believe that dual citizenship requires a large investment, immigration analysts suggest comparing the money spent on luxury goods vs. a second passport. Which one offers more benefits?
For example, the St Kitts citizenship cost depends on the type of investment – whether you’ll apply in national funds or real estate. A one-time investment of $150,000 is for a single applicant, while $195,000 is for a family of four. The main applicant can also include a spouse and siblings in the application process and pay an additional $25,000 for the spouse and $20,000 for each sibling.
If you are investing in real estate, the amount will be $200,000 and you need to hold the property for at least 7 years. Another option is to invest $400,000 in shares in a government-approved property and hold the property for at least 5 years.
The major reason wealthy entrepreneurs apply for second citizenship is the ease of travel internationally.
The St. Kitts passport is one of the best for wealthy individuals who are seeking expedited and cost-effective solutions to obtain dual citizenship. And it allows visa-free entry to 156 countries worldwide.
Tax benefits depend on the country where you obtain dual citizenship and your country of origin. Some countries offer much lower taxes compared to the rest of the world – the Caribbean has efficient taxation systems and some of the countries in the region have 0 taxes on capital gains, money earned overseas, inheritance, and wealth.
Another advantage of citizenship by investment is the range of investment opportunities worldwide. Many countries do not allow foreign citizens to invest in their economies, thus, may not be able to take advantage of generous exchange and interest rates, nor invest in lucrative real estate markets.
If you have to choose whether to invest $1 million in a luxury watch or become a candidate for Maltese citizenship for $600,000-$700,000, the second option will bring you far more benefits. Make your choices accordingly!
Any economic and political unrest within your country may result in a war. In such cases, you need a safe haven for you and your family. A second passport is the ultimate plan B to relocate your assets and family to a more stable and secure country.
Relocation to another country is a far easier option to escape any potential conflict, traveling sanctions, or civil unrest.
For those who are looking for a long-term opportunity, a second citizenship is a great chance to retire abroad and live in a country with a different culture, background, customs, and traditions. Relocating to a more exotic location like the Caribbean is the ultimate goal of having your tropical piece of paradise.
Fast Application Process
Obtaining dual citizenship is a fast and flexible process. In some countries, it takes around 3-6 months to obtain a second passport, while in others, it might take up to a year. It all depends on the country you are applying for second citizenship and the authorized agency you’ve chosen to guide you throughout the process.
Make sure you consult a legal entity before you start the application process!
Get Your Passport Now!
Obtaining dual citizenship is a lucrative business idea – now more than ever. If you’re planning on taking your life or business to the next level, it’s time to set your affairs straight and make a convenient investment, which is a second passport.
To learn more about the CBI programs, the application process, and which countries offer the best citizenship by investment, check our blog.