The economic citizenship programme of a country permits an individual to become a dual citizen of a nation in return for investment. This revenue generated by the Citizenship by Investment Programme assists in national development.
Caribbean nations such as – Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis and St Lucia have adopted unparalleled actions, which also includes an extensive due – diligence vetting procedure. The process ensures that only genuine and legitimate applicants obtain dual Citizenship.
Underlining and recognising the significance of background checks for applicants, these Caribbean countries adopted a stringent and comprehensive due-diligence process. Following the amenities and benefits provided by the Caribbean countries citizenship programme, the High-net-worth individuals are dwelling to obtain their economic Citizenship.
As per Press Editorials media house of Brussels, “Recently, United Arab Emirates, India, Russia, China and other leading emerging countries signed visa waiver agreements with these Caribbean islands, seeing several business opportunities”.
Multiple reports have commended the economic citizenship programme of these countries, such as Ernst and Young, CBI Index 2021. etc. Press Editorials conducted a survey on around 100 individuals to know about the truth and reason behind why Ultra-High-Net persons show a keen interest in buying Caribbean’s dual Citizenship.Caribbean_Report_PE_2-1
It turns out the majority of persons are obtaining region’s Citizenship seeking global mobility, business opportunities and status symbol in the society, according to Press Editorials.
Some of the testimonials of businesspersons and Ultra-High-Net worth individuals who obtained the Citizenship of the Caribbean countries:
Lî Wáng obtained Citizenship of Antigua, and Barbuda added that dual Citizenship helped him win ample ways. “Visa-free access under the Citizenship by Investment Programme helped me worldwide with impromptu trips. I remember one time I had to attend an urgent meeting in Singapore; all I had to do was get an air ticket and pack my bags. This saved my time a lot, and I have access to different nations. It further helped me to build streamlined communication channels and build a robust network worldwide. I can go to different nations whenever I want to market and advertise my business services”.
“I decided to invest in the second Citizenship of Grenada to get a visa to travel to Europe. I am an influential businessman who exports Belgium chocolates and confectionary products in South Africa. As the demand for Belgium chocolates had hiked in Africa, I was required to visit Europe. However, the visa policies of Europe were quite hassling, but the free-visa policy for Grenadian citizens made things easier for me,” said South African businessman David Johnson who received a passport of Grenada.
“I was born in Syria, I have always had Syrian Citizenship, but as everybody knows, the unrest in my country makes things go terrible sometimes, and many restrictions make it very hard to get a visa of some countries. I do dry fruits business, and my target region are Europe, Asia, and Africa. With the ease of travel that I received with Vanuatu citizenship, I can travel around the world make my business even big by getting contracts from very large-scale stores,” said Abbud Hussein.
Apart from the study findings by Press Editorials further underscores that in the time frame of past five years, European nations provided shelters to nearly 300,000 refugees who migrated from war zones and other pulverising countries, but only 20,000 individuals obtained the Citizenship of the Caribbean countries in total after facing a rigorous due-diligence vetting procedure.
“Meanwhile, no one can guarantee the status of a refugee who is being provided shelter. Plus, there are some of the refugees that have been connected with terrorist organisations or other criminal groups”, the study of the media house further notes.
These extensive due diligence procedure is being performed by international firms; therefore, chances of corruption and fraud are almost down to zero.
After evaluating visa-free travel to the investor of Caribbean countries, the nations witnessed immense growth in their economy as nearly 85% of the businessman travelled to Caribbean countries with the purpose to expand their business and make their investments in the country. It further revealed that Europe was the most beneficial continent from these Caribbean nations’ Citizenship by Investment Programme.
Obtaining the Citizenship of the Caribbean countries, one individual gets visa-free access to more than 150 nations, including Europe, Asia and Africa. The survey also found that the European region has been the most benefitted from these Caribbean nations’ Citizenship by Investment Programme.
The United Arab Emirates recently penned down a visa-waiver agreement with the Commonwealth of Dominica and St Kitts and Nevis, allowing citizens of both countries to travel freely within each other’s borders. This move has also opened several doors of opportunities and strengthened the bilateral ties of the Caribbean nations with the UAE.
Prince Mohammad Bin Salman Al Saud from UAE, during one of his interviews, asserted, “I believe that the new Europe will be the Middle East as the Kingdom of Saudi Arabis will be different in the next few years. If we succeed in the next five years, many countries will follow us and the subsequent global renaissance in the next 30 years will be in the Middle East, God willing, and I think this goal will be achieved 100%”.
Meanwhile, A professional photographer, who’s also a citizen of St Kitts and Nevis, cited, “When I initially started researching, the first option that popped up was moving somewhere else and uprooting my life. But that wasn’t an option for me as I wanted to continue living in Dubai. Following more research, I came across the Citizenship by Investment Programme that St Kitts and Nevis runs.”
“I am a professional photographer and always have an eye for perfect photographs, but I am fond of clicking more about nature and capturing nature from different angles, which requires me to spend time in the lap of nature, after deciding that St Kitts and Nevis Citizenship by Investment Programme is the best option for me based on my requirements.”
“I chose the government donation option of $150,000. It was the best option for me based on my requirements.”
The survey findings further concluded that visa-free access (global mobility), soundest aptitudes and extensive due diligence are the reasons why High-Net-Worth individuals lookout to obtain the Citizenship of Caribbean islands.
EU earlier backlashed several nations that failed to conduct a proper vetted due-diligence process, noting that it threatens the national as well as international security of a country. On the contrary, Europe at present is witnessing a downfall. Several countries are stepping back from being a member of the European Union commission, noting that it is heading towards corruption and deceit. This had witnessed and drown a massive impact on education as well as other prominent sectors of the European countries.