On April 28, CS Global Partners’ Head of Government Advisory Practice, Beatrice Gatti, spoke about Citizenship by Investment in the Caribbean at the IREX Business Connect Webinar.
IREX Business Connect Webinar is a platform to access information on international investor immigration programmes, connect with major industry leaders, and explore new investment opportunities in the world of immigration.
With over a hundred listeners, the webinar featured the industry’s major immigration consultants, investment specialists, and wealth managers.
In her presentation about “Safety and Security in Second Citizenship,” Gatti introduced Citizenship by Investment (CBI), the role of the Caribbean in the CBI industry, the benefits of attaining second citizenship and the detailed investment costs in Dominica and St Kitts and Nevis.
“CBI is a legal process whereby an individual obtains citizenship of a nation in exchange for a significant investment,” she explained.
The main difference she highlighted between residency and CBI was that with CBI, “at the end, you receive citizenship for life,” Gatti said. “It’s not conditional” on factors like physical presence or work outputs.
Most importantly, she distinguished the ability that investors have in passing on their citizenship to the next generation by descent. “It’s very important for people who value passing on those rights to their family member,” Gatti said.
Gatti also spoke about how the Caribbean is the “heart of CBI”. She pointed out that not only was the industry born in St Kitts and Nevis in 1984, but the region continues to spearhead reforms and adapt quickly to applicant needs and support local sustainable practices.
As a part of a case study, Gatti highlighted the resilience of Dominica when it was devastated by Hurricane Maria in 2017. Though it was predicted that the island would need years to bounce back, the funds from the CBI Programme helped launch an extensive build back better program to help Dominica recover homes, roads, bridges, hospitals and schools swiftly. “CBI has really improved things there and people see that day to day,” she said.
When speaking about the benefits of second citizenship in the Caribbean, Gatti noted that socio-political stability like economic certainty or strong healthcare systems, dual nationality and the acceptance of dependents and descendants in applications were some of the top reasons clients sought CBI.
Though the list of benefits of a second citizenship is extensive, the webinar also covered the ease of the CBI process. As some of the oldest and most experienced programs in the industry, there are no requirements to reside or travel to the nations nor a need for interviews or prior business experience. At the same time, the nations’ strict due diligence efforts ensure all legal and technical boxes are checked and within 3 months, approvals can be expected.
Dominica and St Kitts and Nevis both have two investment options: one is a contribution to a government fund and the other is the purchase of pre-approved real estate. The investments vary between $100,000 to $200,000 depending on the option and the number of people in the family unit.
Watch the full webinar here to learn about the detailed benefits and investment options of CBI in the Caribbean.