A second passport in a country with favorable visa conditions can facilitate movement around the world. Some states, like Israel, grant person citizenship if the one has the roots. However, it’s also possible to obtain a residency by investment. Migronis specialists studied all available offers and identified 5 cheapest programs with favorable conditions. All of them are provided by the governments of the Caribbean Islands.
Investment citizenship process
Caribbean countries have citizenship in exchange for investment programs with the lowest cost of entry. Potential residents are suggested to buy real estate or government assets as well as to donate to a local fund. The contribution is non-refundable. You can also include your relatives in the application for a small surcharge. The one receiving residency can be assured of confidentiality.
If you take part in citizenship by investment program through Migronis Company, their professionals will take full responsibility for the collection of the documents, their naturalization, and preparation of the application. You don’t even have to come to the island for a passport because they will bring it to you. The stages of cooperation are described in detail on their official site migronis-citizenship.
5 cheap citizenship by investment programs
The governments of these countries have the lowest financial investment requirements. The price doesn’t include fees and payment for legal assistance. The term of application approval is from 3 to 6 months.
A contribution is from $100,000 to a local fund for one person. Two people in the application pay $175,000 and $210,000+ is for a family of four. There is also an opportunity to buy a property of $200,000 and more.
Minimum investment of $100,000 to the local economic fund is a contribution for one person. For a family of four, the amount exceeds $200,000. The government also offers 3 more ways to invest: purchase of real estate ($300,000+) or government bonds ($500,000+) as well as the contribution to enterprise projects ($1 million and more).
Antigua and Barbuda
The country requires $125,000 to the development or education fund for one applicant. Alternatively, you can invest in government-approved property. However, it’s necessary to visit the country in person and spend at least five days in the Caribbean during the first five years.
Saint Kitts and Nevis
An investment of $150,000 to the local fund is enough to get a passport. If you want to buy it for the spouse and two children, the amount is from $200,000. A contribution to government-approved real estate projects is also available.
Government demands $150,000 investment in the National Fund for passport issuance. This amount is for one person, but a family of four must contribute at least $210,000. Besides, it’s possible to obtain economic citizenship in exchange for investment in real estate, the minimum investment is $350,000.
Advantages of Caribbean passport
The competition between the islands forces their governments not only to lower prices for the purchase of a passport but also to establish favorable conditions for business. Global entrepreneurs dream of local citizenship because of advantageous tax systems. Some types of taxes are simply absent or greatly reduced there. The Caribbean is a well-known offshore zone that is gaining popularity and a good reputation in the world.
Residence in the Caribbean gives the right of visa-free travel to the UK and Europe and the possibility of a long stay in the United States. It’s thanks to the participation in the Commonwealth of Nations. This collaboration has other benefits:
- access to reputable international banks;
- opportunities for doing international business;
- privileges for children to study at prestigious universities;
- business-visa in America;
- protects against litigation and lawsuits opened in other countries.
Also, all countries in the Caribbean have a warm climate and exotic landscapes. Having obtained citizenship in one of them, you can come here regularly for holidays. On the other hand, you can never visit the Caribbean if you don’t want, because the islands do not require a stay.