More than any other period in our history, the 21st century has seen – and will continue to see – the meeting of cultures and the interaction of economies, marked by ever more free trade and the free movement of people and services. Each year we shift closer towards becoming a global village therefore, it is essential that individuals seize the opportunity early to become an active part of this trend. Dual citizenship is one of the most effective means to become a global citizen and take advantage of opportunities in the international space.
[Subsection] How Can Dual Citizenship Make You Global and protect your assets?
Whilst travel is increasingly facilitated by faster and more reliable air and train carriers, individuals continue to be hampered by restrictions on their passports. Citizenship of the Myanmar (Burma), for example, affords travellers visa-free access to a mere 28 countries. By contrast, citizenship of St Kitts and Nevis, Dominica, and Grenada, each comes with over 100 visa-free destinations, including the United Kingdom, Ireland, and the Schengen Area. All three nations also hold visa-free access to many Asian and South American hubs of commerce, such as Singapore, Brazil, and Venezuela. Grenada is also one of a select number of countries that, having signed a bilateral investment treaty with the United States in March 1989, affords its citizens the chance to apply for an E2 Visa to the United States.
Caribbean citizenship is also the ultimate gateway to lucrative business opportunities. Not only are St Kitts and Nevis, Dominica, and Grenada all members of the Commonwealth of Nations, they are also members of the Caribbean Community (CARICOM), meaning that their citizens can live and work in any other CARICOM member state. These three nations are also highly ranked in the World Bank Group’s Doing Business Rankings.
For the mindful businessperson seeking to protect his or her assets, citizenship of St Kitts and Nevis, Dominica, and Grenada can also provide an effortless means of preserving wealth. None of these nations tax foreign income, personal wealth, inheritance, or capital gains. Moreover, each of these countries respects individual privacy, and are strongly adherent to the rule of law.
Citizenship of a Caribbean nation can also ensure happiness and serenity for one’s entire family. St Kitts and Nevis, Dominica, and Grenada are safe and tolerant settings in which to raise children. Moreover, they are excellent environments in which to further one’s education. Grenada, for example, is home to St. George's University, famed for its school of medicine and veterinary science, and Dominica’s Ross University is also a noted medical school.
Dual citizenship is often either an accident of birth or the result of long periods of continued residence in a host country. Even marriage does not result in dual nationality unless it is accompanied by extended stays in the spouse’s country. Citizenship by investment, on the other hand, affords individuals the option to obtain a second citizenship without having to subject themselves to lengthy residence requirements.
[The Caribbean Citizenship Options]
Today’s most popular citizenship by investment programmes find their roots in the tranquil nations of the Caribbean. St Kitts and Nevis was the first to establish its programme, which was entrenched into the nation’s laws in 1984. Dominica launched its programme in 1993, and Grenada introduced new law in 2013. Under each of these programmes, a qualified individual, as well as his or her family, may obtain citizenship in as little as 90 days without the need to travel to the country.
[Subsection] The Federation of St Kitts and Nevis Programme
As the leader in the citizenship-by-investment market, the St Kitts and Nevis Citizenship by Investment Programme has built a reputation for integrity and quality. The Programme allows individuals who pass strict due diligence processes to obtain citizenship in exchange for either a donation to the charitable Sugar Industry Diversification Foundation (SIDF), or an investment in pre-approved real estate project. In the first case, the minimum contribution is USD 200,000 for a single applicant and USD300,000 for a family of four members; while in the second case, the minimum investment is USD 400,000. Costs vary according to the number of family members applying with the main applicant. Under the real estate option additional Government Fees apply. Due Diligence Fees apply for all applicants 16 years and older.
[Subsection] The Commonwealth of Dominica Programme
The Commonwealth of Dominica offers the world’s most affordable citizenship by investment programme for single applicants. Additionally, the Programme has been recently streamlined to enable quick and transparent processing, such as by eliminating its longstanding interview prerequisite. Applicants under the Programme may either donate USD 100,000 to the country’s Government Fund, or make a USD 200,000 investment in local real estate. Fees increase with the number of family members applying with the main investor, and Due Diligence and Government Fees apply.
[Subsection] The Grenada Programme
The Government of Grenada has devised a Citizenship by Investment Programme that strongly reflects its dedication to families, being the world’s most affordable citizenship programme for large families. Applicants have the option to either make a donation to Grenada’s National Transformation Fund, or to invest in Government-approved real estate. The Donation to the fund for a family of four is onlyUSD 200,000, while real estate investments must amount to a minimum of USD 350,000. Due Diligence Fees, Processing Fees, Application Fees, and Government Fees apply to each individual included in the application.
[Subsection] Conclusion
The Caribbean evokes beauty, unspoiled nature, and a luxurious lifestyle – but there is much more to it than can meet the eye. It is the key to greater mobility, better business platforms, wealth protection, and security – that is to say – it is the key to becoming a global individual.
Micha Emmett, Group Managing Director, CS Global Partners
A dual-qualified attorney in the United Kingdom and South Africa, and has years of practice in the fields of citizenship, residence, immigration, and foreign investment law.
Micha has also travelled extensively to provide consultancy services to governments and private firms. In her role as government advisor, Micha has spearheaded many of the recent developments in the field of citizenship by investment. Micha holds the strong belief that citizenship by investment programmes can be of great value both to governments seeking to attract investors, and to individuals seeking to find a new home. It is this win-win philosophy that drives her career.
