With a pandemic happening around the world, we see that the idea of luxury goes beyond beautiful homes, expensive cars, and exotic travel. To address the concerns of the changing field of investment migration, CS Global Partners spoke at the IREX Residency & Citizenship Conclave about the effects of COVID-19 on the Citizenship by Investment (CBI) industry.
The virtual conference touched on topics like the growing residency and citizenship market, the importance of safety, security and political stability, and drivers for investment migration among other vital matters. The virtual exhibition and conference also allowed investors to connect with international immigration companies.
“With the worldwide trends of global mobility today, some passports are more powerful than others, which is why more and more individuals are opting for multiple citizenships,” said Valeria Rebrentceva, a representative of CS Global Partners, featured on the panel.
“All of us realised the importance of the document confirming the right to permanent residence abroad, which also provides an opportunity to contact the relevant country for help and leave the country of actual residence. Thus, obtaining a second citizenship becomes not just a desire or status symbol, but an opportunity to choose and ensure security for yourself and your family during difficult times,” Rebrentceva added.
The fastest and most affordable way to obtain a second citizenship today is offered by the countries in the Eastern Caribbean: Dominica and St Kitts and Nevis. Caribbean CBI Programmes are known for their fast processing, accessibility and lack of interviews balanced by no visitation requirements, which makes it a convenient and safe process for the clients.
Investing in St Kitts and Nevis and Dominica opens an array of great opportunities. Holding a passport from a developed Caribbean nation allows one to enjoy all the benefits given by the government to locals, whether inside or outside the country. It also presents a great Plan B in case of an emergency.
With recent events, Dominca also widened the definition of “dependant” or altered post-citizenship addition provisions which makes it a very family-oriented citizenship programme. St Kitts and Nevis has introduced a limited-time offer which allows vetted families of up to four to obtain citizenship for US$150,000 instead of US$195,000 through the fund option. Thus, the Caribbean has become a fast track for wealthy people who want to get the benefits of free movement and full citizenship but are not ready to wait several years to get it.
Today second citizenship is not only a travel document but importantly, a health insurance enabling a valuable escape plan to potential economic citizens if they require it. In response to the time, Caribbean nations remain indeed the fastest route to obtain alternative citizenship remotely during a pandemic and strict quarantine measures that restrict movement.