When it comes to choosing your destination for a second home, one needs to look at the most affordable programme with the highest integrity.
When it comes to choosing your destination for a second home, one not only needs to look at the criteria of the most affordable second citizenship but also the integrity of the programme.
Citizenship by investment has proven time and time again to be the most expedient and diligent way of obtaining a second passport. The cradle of Citizenship by Investment lies in the Caribbean, a region that offers some of the top Programmes to eligible investors.
With uncertainty currently looming the globe, multitudes of people are looking to secure their futures and those of their families by purchasing a second passport. Investing in a Citizenship by Investment Programme aligns the search for a stable financial future, with a focus on family safety, access to robust healthcare, better education and dual citizenship which can be passed down for generations to come. Caribbean Citizenship by Investment programmes offer all of this and more.
Coming out on top year after year as the affordable dual citizenship options are the Citizenship by Investment programmes of the Commonwealth of Dominica and the dual-island nation of St Kitts and Nevis. Based in the Caribbean, both countries offer investors the opportunity of either buying into government-approved real-estate or contributing to a national fund in exchange for citizenship.
Dominica Citizenship by Investment
One of the most popular programmes in the Caribbean, the Dominica Citizenship by Investment Programme, focuses on the overall quality and integrity of its applicants. To ensure only credible persons of excellent standing are granted citizenship, comprehensive due diligence checks are performed on all applicants.
The country’s highly respected CBI Programme allows well-vetted investors and their families to contribute to a government fund or pre-approved real estate on the island in exchange for citizenship. Once in possession of a Dominica passport, there is a range of benefits that become available, these include visa-free travel to over 140 different destinations, the ability to pass on citizenship to future generations, and the right to live and work in the country for life.
One of the most popular and affordable modes of investment for Dominica is the Economic Diversification Fund (EDF), a Government fund that supports socio-economic initiatives in Dominica. Its application fees start from an affordable USD 100,000 for a single applicant and USD 175,000 for a family of four, bearing in mind that there may be additional administrative and legal fees added to this.
St Kitts and Nevis Citizenship by Investment
St Kitts and Nevis is the worlds’ longest standing and most trusted CBI programme. It has been the benchmark in the CBI industry for decades. The dual island nation continues to score top marks for its uncompromising commitment to rigorous due diligence and is known as the nation with the most affordable programme, as well as the fastest citizenship timeline.
St Kitts and Nevis’ Citizenship by Investment Programme is also established as one of the most affordable second citizenship options, particularly regarding families. Their limited-time offer allows investors to add up to three family members for USD 150,000 (same as the amount for an individual). The offer is valid until January 15, 2021.
The country also continues to increase the number of visa-free and visa-on-arrival destinations for its citizens, allowing ease of access to nearly 150 different countries and territories.
St Lucia Citizenship by Investment
Established in 2016, St Lucia has the newest programme in the Caribbean. It offers a wide range of benefits for investors including one of the cheapest investment options, visa-free entry to 145 different countries, the right to live and work in the country for life, a 90 day processing time, as well as four other investment options.
One of the most popular channels is the country’s National Economic Fund (NEF) whereby investors can obtain citizenship in exchange for a monetary contribution to the fund via one of the prescribed contribution levels. These levels are as follows: USD 100,000 for the main applicant, USD 140,000 for main applicant and spouse, USD 150,000 for the main applicant, spouse and up to two other family members, USD 15,000 for each additional family member of the main applicant, spouse and two other family members and USD 25,000 for each additional family member. Due diligence and processing fees apply.
Read also: Best Second Citizenship For Your Children
CBI Index Rating
The CBI Index is an annual publication of the Financial Times’ Professional Wealth Management (PWM) magazine and offers a comprehensive rating system of all Citizenship by Investment programmes throughout the world. The Commonwealth of Dominica has once again topped the list as the most attractive Citizenship By Investment (CBI) Programme retaining its top rank for being the Programme with the most stringent due diligence measures. Similarly, St Kitts and Nevis continually top the CBI Index chart for its affordability, focus on family, and a speedy three months turn around in acquiring a second nationality.
About Due Diligence
Pristine due diligence, when it comes to any CBI programme, is crucial to verify an investor’s identity, background, financial status and reputation.
The ranking of the CBI Index works on nine pillars that each programme is assessed upon, one of the most significant being due diligence. Caribbean countries of Dominica and St Kitts and Nevis hinge the integrity of their Programmes on their stringent due diligent processes.
The due diligence pillar awards top marks to the country that obtains the greatest amount of information on and from its applicants before granting them citizenship. Factors include internal and external due diligence checks, police clearance certificates, fingerprinting or other biometric data collection, source of funds analysis, and bans on high-risk countries of origin.