A second passport is a great way to diversify your assets through buying a citizenship in another country. A second passport can essentially give you a second life and freedom in another country, most importantly at troubled times.
According to Sovereignman article – A second passport with dual citizenship can essentially save your life. The idea with a second passport is that no government should have the sole power over your life or your assets. If you are the citizen of only one country, as most people are, you are essentially at the mercy of your government. In the Gulf News article ‘Invest in a second passport’: Crossing borders has always been a difficult ritual for third-country passport holders. They go through immense bureaucratic paper work and get stuck at immigration counters just to visit a foreign country.The good news is, if you’re a wealthy individual, you can buy your way into a second citizenship.
The ‘Citizenship by investment industry’ for second passports is estimated to be $2 billion every year and “Golden visa” industry another $5 billion every year. Golden visas do not get you citizenship or passport only residency. IMF official visit to St Kitts and Nevis reported St. Kitts and Nevis’ economy is expected to grow again in 2017 for the 5th consecutive year. St. Kitts and Nevis’ strong macroeconomic performance owes much to the robust Citizenship-by-Investment (CBI) inflows and their spillovers to the economy, as well as overall prudent macroeconomic policies.
Real estate, government bonds and donation are some of the investment routes involved in buying a second passport in most countries. The donation is cheap, easy, fast one time payment chosen by many who apply for 2nd passports. Real estate and government bonds are fully recoverable investments but are quite expensive. Residency requirements and speaking language are usually waived and no requirement to live in the country after passport is granted. Taxes are primarily based on number of days one has lived in the country and not based on citizenship. The citizenship by investment can also be passed to future family generations.
A second passport from european countries such as Malta, Cyprus and Austria is considered to be the most valuable, highly respected and powerful passports in the world. Buying or investing in one of these passports opens up ‘All of Europe’ plus you can visit over 100 world countries without applying for visas. Malta costs about €900,000, Cyprus requires €2million investment for passport. Malta imposes 12 months requirement, Cyprus requires about 6 months before a EU passport is issued. Austria requires about €3 million to €10 million euros investment for a passport in an economic activity that brings significant development to Austria.
A number of wealthy individuals and families from China, Russia, Middle East seek a second passport in Europe and United States, wanting greater travel freedom, education for children and investment opportunities. The rich and wealthy view possessing a second passport with dual citizenship is a ‘must’ and it is a great investment to ‘freedom’. For example passports from Germany, United Kingdom, United States, Malta, Canada, Belgium, Ireland, Spain are considered to be top 5 ‘most powerful and valuable’ passports in the world, according to a H&P Visa restrictions index 2017
US citizens buying their way into second passports does not change tax obligations on their world income, and wealthy foreigners who apply Green cards or US passport has to be careful before taking up US citizenship. A word of warning to those who have criminal background or committed financial frauds: Many think a second passport is a cheap quick by means of getting away out of trouble. In reality speaking the truth, firstly second passport is only issued to those who pass background checks done by governments. Your second passport will revoked if it is found later that you are involved in a criminal activity and on a most wanted list.
I will show you how you can buy best second passports through “official” citizenship by investment programs (CIP) running in Europe and Caribbean easily, quickly and by cheaper means. Official means these CBI programs are announced publicly by Governments of respective countries and are currently open.You can find the links to official websites below as sources.
The cheapest second passports are from St Lucia and Dominica with the prices start at $100,000 and the expensive ones are from Europe starting from $1,000,000. All citizenship applicants and family members are ‘vetted’ thoroughly before being approved to become a citizen in these countries. Please note Citizenship granted only at discretion of respective Governments and there are no guarantees.
1. St Lucia Passport
USD 100,000 onwards
St. Lucia is an island in the Lesser Antilles region of the Eastern Caribbean and covers 617 square kilometers. It is one of the Windward Islands and more mountainous than most Caribbean Islands, with the highest point being Mount Gimie, at 950 meters above sea level. Two other mountains, the Pitons, form the Island’s most famous landmark. The natural beauty of the Island makes it a popular tourist destination, with attractions including the rain forest, national parks, botanical gardens, a world heritage site, gorgeous Caribbean beaches and even a drive-in volcano. English is the official language of St. Lucia but most locals also speak French Creole.
- Cheapest citizenship by investment second passport
- St. Lucian passport provides visa-free travel to 127 countries, including the EU Schengen area, the UK, Hong Kong, Singapore etc
- No residence or visitation requirements
- Opportunity to invest in Real estate or Government bonds
- Attractive investment and processing costs
- Dual citizenship in St lucia
- A right of descent for future generations
- Travel visa free to over 100 countries including UK, Ireland and EU schengen.
- No mandatory interviews or language tests
- No personal visit required.
- Passport issued with 10 year validity
- Citizenship program open to all country nationals.
- Citizenship for family and children.
- No interviews. No residency requirements.
St. Lucia’s Citizenship-by-Investment Program is regulated by the Citizenship by Investment Act No. 14 of 2015. Section 33 of this Act established the Saint Lucia National Economic Fund, which receives the qualifying investments of donations from the program. These funds will be used by the government under the national development agenda.
St lucia passport is ranked as 36th powerful and valuable passport in the world with visa free travel to 127 countries, according to 2017 visa index
The program requires a person to make a significant economic contribution to the country. In exchange, and subject to a stringent application process and due diligence checks, the applicants and their families are granted full citizenship. The main applicant must be at least 18 years of age to qualify, meet the application requirements, and select one of the following investment options:
- An investment in an approved real estate development with a minimum value of USD 300,000, which must be held for a minimum period of five years – additional costs may also be incurred depending on the real estate developer.
- An investment in an approved Enterprise Project (as set out in the regulations) with a minimum investment of USD 3.5 million plus the creation of no less than three permanent jobs, or a joint investment of USD 6 million (each applicant contributing a minimum of USD 1 million) plus the creation of no less than 6 permanent jobs.For the above two options, the following government administration fees will also apply:
- Main applicant USD 50,000
- Spouse USD 35,000
- Dependent under 18 years USD 25,000
- Dependent 18 years and older USD 35,000
- A non-refundable contribution to the National Economic Fund (NEF) of USD 100,000 (for a single applicant). An applicant may make the contribution under one of the four following categories:
- Main applicant USD 100,000
- Main applicant and spouse USD 165,000
- Main applicant, spouse and up to two other qualifying dependents USD 190,000
- Each additional qualifying dependent of any age USD 25,000
- Investment in non-interest bearing government bonds, which must be held for five years (this option is valid until 31 March 2017)
- Main applicant USD 500,000
- Main applicant and spouse USD 535,000
- Main applicant, spouse and up to two other qualifying dependents USD 550,000
- Each additional qualifying dependent of any age USD 25,000
For the government bond option, there is a non-refundable administration fee of USD 50,000.
In addition, due diligence and government processing fees are charged on all investment options. Due diligence fees are USD 7,500 for the main applicant, and USD 5,000 for each qualifying dependent over 16. Government processing fees are USD 2,000 for the main applicant and USD 1,000 for each qualifying dependent.
The main applicant and any dependents must have a clean personal background with no criminal record and not be under any criminal investigation (other than in respect of a minor offence). A person that is deemed a potential security risk or who is or has been involved in any activity that is likely to bring disrepute to St. Lucia shall not be approved for citizenship.
The application process should take no longer than four months from submission of the application to issuance of the passport, assuming there are no areas of concern with the application. Under the real estate option, the time frame may vary depending on the development.
2. Dominica Passport
$100,000 onwards
In Dominica, citizenship-by-investment is based on Section 101 of the Constitution and Sections 8 and 20 (1) of the Citizenship Act. It allows the government to operate a program under which citizenship is granted to persons who qualify under criteria set by the government in its policy guidelines. Dominica’s citizenship program requires making an economic contribution to the country or investment in a government approved real estate project. In exchange, applicants and their families are granted full citizenship. The economic contribution takes the form of a direct non-refundable payment made to the government.
As a citizen, you can live and work in Dominica at any time. You are not liable to taxation in Dominica on any income earned outside of Dominica unless you decide to reside there. You will be able to travel on your Dominica passport without a visa to 119 countries, including the United Kingdom, Switzerland and many others. When you acquire citizenship under the Dominica citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. There are no restrictions on dual citizenship in the Commonwealth of Dominica.
Dominica is ranked as 40th powerful and valuable passport in the world with visa free travel to 119 countries, according to 2017 visa index
- Popular and cheapest citizenship by investment second passport
- No residency requirement to live in Dominica before or after citizenship.
- Irrevocable citizenship for life against one time investment.
- Opportunity to invest in dominica real estate for citizenship
- Passport processing time is 4 to 6 months.
- Dominica passport is a best second passport
- Travel visa free to over 119 countries including UK, Ireland and EU schengen.
- No visit to Dominica required for passport
- Passport issued with 10 year validity.
- Lifetime citizenship passed on to generations to family and children.
- No interviews. No tests. No business experience or education
- Live and work in Dominica.
- No wealth, gift, inheritance, foreign income or capital gains tax and no personal income tax for residents.
- No restriction on the repatriation of profits and imported capital for business.
- Confidential application process through authorized agents.
There are six options for obtaining citizenship:
- Single Applicant: A non-refundable investment of USD 100,000
- Family Application (Applicant plus spouse): – A non-refundable investment of USD 175,000
- Family Application (Applicant plus two children below the age of 18 years): – A non-refundable investment of USD 175,000
- Family Application (Applicant plus spouse and two children below the age of 18 years): A non-refundable investment of USD 200,000
- Family Application (Applicant plus spouse and more than two children below the age of 18 years): A non-refundable investment of USD 200,000 and USD 50,000 for every additional child below the age of 18 years
- Real Estate Investment Option:
– A minimum investment in a government approved real estate project of USD 200,000 is required for each main applicant. Two or more applicants may apply for citizenship by investment together by purchasing one piece of real estate, provided that each main applicant contributes the minimum investment of USD 200,000 towards the investment
3. Cyprus Passport
€2,000,000
Cyprus is the third largest and third most populous island in the Mediterranean, and a member state of the European Union. Cyprus enjoys a warm Mediterranean climate and the currency is Euro. The economy of Cyprus is classified by the World Bank as a high-income economy rated as B+ by S&P. Cyprus is the hub of energy, shipping and an international tourist destination. As of May 1, 2004, Cyprus became the EU member state and has close ties with other member states of the EU.
Cyprus passport is ranked as 16th valuable and powerful european passport in the world with visa free travel to 158 countries, according to 2017 Visa index
Cyprus citizenship-by-investment program that grants full Cypriot citizenship to those that invest more than EUR 2 million in real estate and who meet certain other requirements. Successful applicants gain the right to live, work and study in all 28 EU member countries.
In September 2016 , the Government of Cyprus introduced changes to its citizenship-by-investment program. The changes include the reduction of the minimum investment amount to EUR 2 million (from EUR 2,5 million) and the possibility to include the parents of the main applicant provided that an additional EUR 500,000 + VAT will be invested in the purchase of a private residence in Cyprus.
- Cyprus passport approval within 3 months.
- EU citizenship by investment program.
- Best second passport program in Europe
- Minimal 6 month residence requirements.
- Luxury real estate investment in beachfront villas for citizenship
- No military service. No cypriot language tests.
- Dual citizenship with other countries
- Profitable property investment
- No taxes based on citizenship, unless domiciled based on tax resident status.
- Best education, healthcare and low cost of living.
- Visa free travel to UK, EU member states, Canada, Singapore etc. over 160 countries
- Live, work, study in 35 EU member states (Switzerland, Austria, France, Germany, UK, Sweden etc..)
- European citizenship for all family members including future children.
- Easy confidential application process with high approval rates.
- The acquisition of citizenship in Cyprus is not reported to other countries.
- No restrictions on applicants from any country.
Any non-Cypriot citizen may apply for Cypriot citizenship through Naturalization by Exception if they meet one of the investment criteria presented below. The qualification may either be done personally or through a company/companies in which the applicant acts as a shareholder or even as a high-ranking senior manager.
| Investment in real estate, developments and infrastructure projects
The applicant should make an investment of at least EUR 2 million for the purchase or construction of real estate. |
| Purchase, establishment, or participation in Cypriot businesses and companies
The applicant must make an investment of at least EUR 2 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic. These businesses or companies should have a demonstrable and tangible presence in Cyprus and employ at least five Cypriot citizens. |
| Investment in Alternative Investment Funds or financial assets of Cypriot enterprises or Cypriot organizations licensed by the Securities and Exchange Commission
The applicant should purchase units amounting to at least EUR 2 million from Alternative Investment Funds (AIF). |
| Combination of the above investments
The applicant may invest in a combination of the above, provided that the total investment amounts to at least EUR 2 million. The applicant’s investment combination may include the purchase of special government bonds of the Republic of Cyprus of up to EUR 500,000. |
Another important requirement that applies, regardless of the investment option chosen, is the purchase and life-time possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. In the case that the applicant proceeds with the real estate option, this property can be included in the EUR 2 million investment.
4. Malta Passport
€ 900,000
The Maltese archipelago is located right in the heart of the Mediterranean Sea, stretching to an area which is not greater than 316 square kilometres. The size of the Maltese islands are definitely not a reflection of the great historical and cultural treasures the country prides itself on. The people are welcoming and English-speaking, helping anyone make the best out of their experiences around the country’s charming attractions. Malta is a member of EU and Schengen and maintains close ties with the member states. There is always something to engage in around Malta and its sister island of Gozo. Attractions range from Malta’s pristine beaches and countryside, appetizing restaurants, outstanding nightlife and indulging historical and cultural monuments which narrate the island’s 7,000 year-old history. One of the major advantages for high net-worth individuals in Malta is the pro-business environment cherished in the country.
Malta’s Individual Investor Programme is designed to attract to Malta’s shores applicants who can share their talent, expertise and business connections. It is the first citizenship programme in the European Union to be recognized by the European Commission. Applicants are subject to a thorough due diligence process which guarantees that only reputable applicants acquire Maltese citizenship. Moreover, applications from countries where international sanctions apply may not be accepted. Applications from a particular country can also be excluded on the basis of a Government policy decision.
Malta offers great opportunities to applicants of the IIP and their families, including a high standard of living, a stable political system and a robust economy. The MIIP is the newest addition to the global citizenship-by-investment portfolio and offers clients the opportunity to gain Maltese, and therefore European Union (EU), citizenship.
- The right to live, work and study in any of the 28 EU countries and Switzerland
- Travel visa-free to 167 countries, including the EU and Canada
- World’s strictest due diligence standards and vetting of applicants, thus ensuring only highly respectable applicants will be admitted
- Citizenship of a well-respected EU country
- Reasonable contribution and efficient application process
- Malta is an attractive place to live or to own a second home and is strategically located with excellent air links
The Malta program includes three financial requirements:
- A contribution to the development of Malta
- A purchase of stocks/bonds
- A property investment transaction
The combined upfront financial requirement, including applicable government charges and citizenship application fees, is just under EUR 900,000. These costs will increase slightly depending on the family size.
The Malta IIP is aimed at ultra-high net worth individuals and families worldwide. It offers citizenship in a EU Member State that is stable, neutral and highly respected, an efficient application process, and the world’s strictest due diligence standards and vetting of applicants, thus ensuring only highly respectable clients will be admitted. EU citizenship gives the right of establishment in all 28 EU countries. Citizenship is granted to suitable individuals and families who hold resident status in Malta for a period of twelve months immediately preceding the day of issuing of the certificate of naturalization and who qualify under the very strict due diligence regime. All individuals and families applying to the Malta Individual Investor Program must make a significant contribution to the National Development and Social Fund established by the Government. The minimum contribution levels that must be met in the initial phase of the program have been set as follows:
- Contribution to National Development and Social Fund of EUR 650,000 for the main applicant
- Contribution for spouse and minor children: EUR 25,000 each
- Contribution for dependent children 18 to 26 years or dependent parents above 55 years: EUR 50,000 each
| Property Rental | Property Purchase | |||
| Financial requirements |
Gov. and processing fees |
Financial requirements |
Gov. and processing fees |
|
| Single applicant | EUR 650,000 donation EUR 150,000 stocks/bonds EUR 16,000 p.a. property rental |
12-15% | EUR 650,000 donation EUR 150,000 stocks/bonds EUR 350,000 property purchase |
9-12% |
| Married couple | EUR 675,000 donation EUR 150,000 stocks/bonds EUR 16,000 p.a. property rental |
12-15% | EUR 675,000 donation EUR 150,000 stocks/bonds EUR 350,000 property purchase |
9-12% |
Furthermore, Due Diligence fees apply, and these have been set at the following levels: For main applicant: EUR 7,500; for spouses, adult children and parents: EUR 5,000; for children between 13 and 18 years of age: EUR 3,000 each. The applicant must commit to retain a residence in Malta for a period of at least 5 years, either through the purchase of a property, for which the minimum value must exceed EUR 350,000, or through leasing of a property, for which the minimum annual rent must exceed EUR 16,000. In addition, an investment of EUR 150,000 in Government approved financial instruments, which must be maintained for a minimum period of 5 years is required.
5. Antigua and Barbuda Passport
$100,000 onwards
Antigua and Barbuda is an independent Commonwealth state in the Eastern Caribbean. With some 365 beaches of clean turquoise waters, the lush tropical islands of Antigua and Barbuda are an inviting paradise and considered to be one of the most beautiful places in the world. As a result, tourism is the key driver of Gross Domestic Product (GDP) and generates around 60% of the island’s income, with key target markets being the U.S., Canada and Europe. Antigua and Barbuda is a member of the United Nations, the British Commonwealth, Caricom and the Organisation of American States (OAS) among many other international organisations. Holders of the Antigua and Barbuda passport enjoy visa free travel to approximately 130 countries, including the U.K., and the countries of the Schengen area.
- Second passport in Caribbean country.
- Antiguan passport offers visa free travel to EU schengen countries including UK, Canada and Ireland.
- Lifetime citizenship passed on to family generations.
- Antigua passport to spouse, parents and children.
- No wealth, inheritance, personal income taxes.
- No personal visit required.
- Citizenship through property investment in luxury beachfront villas
- No requirement to live in Antigua before or after getting citizenship.
- No interviews, business experience or language tests.
- Fast 3 months processing time for citizenship.
- Best second passport for visa free travel to Europe and UK.
- Free movement in the caribbean CARICOM countries.
- Dual citizenship allowed with other countries.
The laws regarding the Citizenship-by-Investment program are contained in the Antigua and Barbuda Citizenship by Investment Act, 2013 and the Antigua and Barbuda Citizenship by Investment Regulations, 2013. Antigua and Barbuda is a member of the Commonwealth, which entitles Antigua and Barbuda citizens to certain privileges in the UK and other Commonwealth countries.
The citizenship-by-investment program requires a person to make a significant economic contribution to the country. In exchange, and subject to a stringent application procedure, including thorough background checks, the applicants and their families are granted citizenship. The passport is granted for 5 year validity period after that it can be renewed. To renew after 5 years, you must have visited Antigua for about 5 days.
To qualify for citizenship, the person must be over 18 years of age, meet the application requirements and select one of the following three options available:
- An investment of at least USD 400,000 into one of the approved real estate projects; such investments cannot be disposed of within a five year period or before the proposed development in which the investment has been made has been substantially completed
- A contribution to the National Development Fund (NDF) of a minimum non-refundable amount of USD 100,000 (for a single applicant)
- An investment of a minimum of USD 1,500,000 directly into an eligible business as a sole investor or a joint investment involving at least 2 persons in an eligible business totalling at least USD 5,000,000, and each of those persons individually invests at least USD 400,000
Under each of these options, there are government processing fees of USD 50,000 for the main applicant plus additional government processing fees of USD 50,000 for the spouse, any dependent child of 18 to 25 years of age and any dependant parent over the age of 65 years, as well as USD 25,000 for each dependent child under 18 years of age. However, the Government has announced a “Limited Time Offer” under the NDF option only, whereby for a family of four, the government processing fees will be USD 50,000 for the main applicant, USD 50,000 for the spouse, and the remaining two family members will not need to pay any government processing fees. There are also due diligence fees of USD 7,500 for the main applicant and USD 7,500 for the spouse, USD 2,000 for any dependent child of 12 to 17 years and USD 4,000 for any dependent child of 18 to 25 years of age as well as any dependent parent over the age of 65 years. Government processing fees and due diligence fees apply to all three options.
The program allows for a dependant between the ages of 18 to 25 years to be included in the application of the main applicant if the dependant is a full time student at a recognized higher learning institution and is financially dependent on the main applicant. The program also allows for parents and grandparents over the age of 65 of the main applicant or his or her spouse to be included in the application as dependants, if the parent/s and grandparent/s are living with and are fully supported by the main applicant. The main applicant and his or her dependants will become ineligible if they have not received a free pardon or have at any time previously been convicted in any country of an offence for which the maximum custodial penalty is in excess of six months imprisonment. The Regulations further provide that a person who has been denied a visa to a country with which Antigua and Barbuda has visa-free travel arrangement and has subsequently not obtained a visa to the country that issued the denial shall not be entitled to apply under the program. A person who is deemed a potential national security risk, a reputational risk or is subject to criminal investigation will also be denied citizenship.
The Antigua and Barbuda passport is a very good travel document for many international individuals. With an Antigua and Barbuda passport, a citizen can travel to approximately 136 countries in the world, including Canada, Hong Kong, Singapore, the UK and Europe with relative ease and without challenging visa requirements. Full citizenship with passport is granted to the applicant and family, and there are no restrictions whatsoever, not even on voting, subject to meeting the standard voter registration criteria.
The documentary requirements of the Antigua and Barbuda Citizenship-by-Investment program are reasonable and the procedures are quite straightforward. It is recommended that investors visit the Islands before making a decision on the purchase of real estate. Once the application is approved, passports can be collected in Antigua and Barbuda or the applicant may attend an Embassy or the office of any High Commission or Consulate of Antigua and Barbuda or such other office as may be specified from time to time, by the Minister to both collect their passport and to take the oath or affirmation of allegiance.
It is estimated that the process will take between three and four months from submission of the application to issuance of the passport, assuming there are no areas of concern with the application. The Regulations specify that, within three months of the submission of an application to the CIU, the CIU shall notify in writing to the licensed agent on behalf of the main applicant that the application has been approved, denied or delayed for cause and is still being processed.
Under the real estate option, the timeframe may vary depending upon the project. Therefore, it is important to select a real estate project that is able to provide the necessary paperwork required from the developer for the citizenship application. If the real estate option is selected, it is important for an applicant to be aware of the investment potential, financial strength, track record and reputation of the developer before committing to the property.
Antigua and Barbuda citizens are entitled to take up residence in Antigua and Barbuda at any time. There are no restrictions on dual citizenship in Antigua and Barbuda. The new citizens must visit an Embassy, Consular Office or High Commission of Antigua and Barbuda to enable physical collection of the passport and swear an oath or affirmation of allegiance. The passport will be valid for a period of five years and is renewable, provided that the requirements for renewal are met, including the residency requirements: the Government may by Order deprive of his citizenship a citizen who has obtained citizenship under the citizenship-by-investment program if the citizen does not spend at least 5 days in Antigua and Barbuda during the period of five years after becoming a citizen.
6. St Kitts and Nevis Passport
$150,000 onwards
The twin-island St Kitts and Nevis Federation offers fine beaches and an outstandingly attractive mountainous landscape of lush tropical paradise usually associated with the South Pacific. The ambience here is a blend of sunlight, sea air and abundant vegetation. St. Kitts and Nevis has only recently diversified from the sugar industry to high-end tourism, becoming one of the Caribbean’s most luxurious and popular destinations. The Citizenship Program of St. Christopher (St. Kitts) was established in 1984 and requires applicants to make an economic contribution to the country. In exchange, they and their families are granted full citizenship.
To qualify for citizenship, the applicant must make either an investment of at least USD 150,000 to Hurricane Relief Fund (scheme expires on March 31, 2018) or USD 400,000 in one of the approved real-estate developments in addition to paying government fees, other fees and taxes, or alternatively making a contribution to the Sugar Industry Diversification Foundation (SIDF, a public charity) starting from USD 250,000 (for a single applicant), which includes all government fees.
- Best Second passport in the Caribbean.
- No personal visit required, No citizenship tests
- Investment in property also qualifies for citizenship
- Lifetime citizenship to family and children
- No residence requirements
- Visa free travel to 136 countries in the world including Europe, Singapore, United Kingdom, Brazil etc..
- No residency requirements.
- No wealth or inheritance taxes
- No personal visit required
- Dual citizenship allowed with other nations
The regulations regarding citizenship-by-investment in St. Kitts and Nevis are contained in Part II, Section 3 (5) of the Citizenship Act, 1984. These provisions allow the government to operate a program under which citizenship is granted to persons who qualify under criteria set by cabinet decision.
To qualify for citizenship under the real estate option, the government requires applicants to make an investment in designated, officially approved real estate with a value of at least USD 400,000 plus the payment of government fees and other fees and taxes. As the application procedure under this option involves the purchase of real estate, this can lengthen the processing time depending on the chosen property. The real estate cannot be re-sold until 5 years after the purchase, but since introducing new regulations in 2012 the next buyer may also qualify for citizenship subject to diligence checking. A list of approved real-estate developments is published on the website of the Citizenship-by-Investment Unit of the Government of St. Kitts and Nevis.
Acquisition of citizenship under the SIDF option requires a contribution to the Sugar Industry Diversification Foundation. The contribution is in the form of a one-time payment, and there are four different categories:
A. Single applicants, who have to make a USD 250,000 non-refundable contribution, due diligence fee of USD 7,500
B. Applicants with up to three dependants (i.e. one spouse and two children below the age of 18): USD 300,000 contribution, plus due diligence fees
C. Applicant with up to five dependants (i.e. one spouse and four children): USD 350,000, plus due diligence fees
D. Applicant with up to seven dependants: USD 450,000, plus due diligence fees
E. Additional contribution for each dependant above seven: USD 50,000, due diligence fees of USD 4,000 per dependant aged 16 or older.
When you acquire citizenship under the St. Kitts and Nevis citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. As citizens of St. Kitts and Nevis, you and your family are issued with passports which allow visa-free travel to more than 136 countries and territories worldwide, including all of the EU. Of course you have the right to take up residence in St. Kitts and Nevis as well as in most of the CARICOM member countries at any time and for any length of time. You are not liable for taxation, even if you decide to reside in St. Kitts and Nevis, as there are no direct personal taxes whatsoever.
7. Grenada Passport
$150,000 onwards
Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies. Unspoilt and exotic, it astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices. In addition to its scenery, Grenada offers culture, fun, and friendliness typical of the authentic Caribbean life – making Grenada the perfect place in which to live, work and play.
The citizenship–by–investment program in Grenada was launched in August 2013 when the Grenadian Parliament passed the Citizenship by Investment Act, 2013 (Act No. 15 of 2013).
Grenada passport holders may currently travel visa-free to 124 countries including the UK and Schengen area, China, Brazil and other key business and lifestyle destinations. Furthermore, it is the only citizenship–by–investment program which holds an E–2 Investor Visa Treaty with the US, allowing Grenadian nationals the opportunity to enter and work in the US, and it is the only investor migration program in the Caribbean that offers successful applicants visa–free access to China.
- Visa-free access to 124 countries including the Schengen area, the UK, Singapore, China and Hong Kong
- The only Caribbean citizenship–by–investment country which has visa–free access to China
- The only Caribbean country with a citizenship–by–investment program which holds an E–2 Investor
Visa Treaty with the US, allowing citizens to be eligible to apply for a non-immigrant visa (cheaper EB5 alternative) - Citizenship may be passed down to future generations without restriction
- Lower capital requirement than the citizenship programs in St. Kitts and Nevis, and Antigua and Barbuda
- Fast and efficient application process of approximately three months from submission with no visit required
Clients interested in acquiring Grenadian citizenship have two investment options:
- National Transformation Fund (NTF) donation option: A minimum non-refundable contribution to the NTF of USD 150,000
- Real estate option: To acquire property from a government real estate project for a minimum of USD 350,000. The real estate must be held for a minimum of three years
Additionally, the following investment requirements and other obligations must be met:
- Under the real estate option, there is an additional flat government fee of USD 50,000 for the main applicant and up to three dependents. For each further dependent, an additional USD 25,000 is required
- Due diligence fees of USD 5,000 per adult and USD 2,000 for dependent children between the ages of 12 and 17
- Government processing fees of USD 500 per person under the age of 17, and USD 1,500 for the main applicant and adult dependents
- Government application fees and passport fees totaling USD 1,750 per applicant
The application process for Grenadian citizenship is efficient and uncomplicated, and the applicant is not required to visit Grenada to complete the process. Once an application is submitted, the government generally provides an answer within 60 days. Passports for successful applicants will be issued within 10 working days.
VAT in Grenada is 15%, and property transfer tax for citizens is 5%, payable by the vendor/seller. Annual taxes in Grenada include property tax, which is 0.2% of the market value for residential property
Sources:
- Dominica – http://cbiu.gov.dm
- St Lucia – https://www.cipsaintlucia.com/
- Grenada – http://www.cbi.gov.gd/
- St Kitts & Nevis – http://www.ciu.gov.kn
- Antigua and Barbuda – http://www.cip.gov.ag
- Malta – http://iip.gov.mt
- Cyprus – http://www.moi.gov.cy/moi/moi.nsf/All/36DB428D50A58C00C2257C1B00218CAB
