No doubt, coronavirus (COVID-19) has had a significant impact on countries across the world, as the mortality rate increases daily, grounding economies and disrupting all normal systems.
Of course, one of the disruptions is in the ease of travel due to the many restrictions imposed by countries intended to curtail the spread of the virus.
This hints at the process of travel being more rigid post COVID-19, as countries introduce tougher measures and protocols to ensure safety. It is also likely to be more stringent to acquire travel documents, particularly with visas as countries make the process more cumbersome on safety concerns and discourage many potential visitors, investors, and tourists alike, from visiting.
However, some Caribbean countries are offering respite in the face of the anticipated travel challenge post COVID-19. They have been and are still offering citizenship by investment or dual citizenship to people who are interested to live, work or invest in the region.
The citizenship by investment, which is commonly called economic citizenship, is obtainable by making an investment in a country’s approved real estate project or towards a fund. It provides flexibility, mobility, security, as well as offering the investor more options and freedom to travel.
With citizenship by investment in countries including, St. Kitts & Nevis, Grenada, Commonwealth of Dominica, St. Lucia, Antigua & Barbuda, among others, interested parties will overcome travel challenges post COVID-19.
Enumerating the benefits of the dual citizenship programmes in the Caribbean, Privado Luxury, partnering AID Consultants (DMCC), an approved citizenship by investment marketing firm licensed by the various Caribbean governments represented, explains that a second strong citizenship and passport not only provides one with the freedom of visa free travel to over 120 countries, but also affords access to better healthcare services, higher education, career and business opportunities outside of their home country.
Furthermore, having a second citizenship brings peace of mind, securing current, future generations and allows for a peaceful retirement plan to many who choose to have a home away from home.
Moreover, it would also afford the dual passport carriers’ opportunity to avoid the challenges of visa processing, delays and refusals, especially for impromptu travel for business, medical emergencies among others.
Some individuals may have been refused visas multiple times even though they seem to meet all requirements, but with the well vetted process of dual citizenship, this puts rest to that negative experience.
Offering more details on how to acquire dual citizenship in the Caribbean, Privado Luxury and AID Consultants (DMCC) note that one can do so by investment, especially in real estate. In their own case, the investment is via signature hotel brand developments.
“It is the shares in the hotel that form the investment that entitles one to citizenship,” they explain further, while noting that some countries also have the contribution option for acquiring citizenship by contributing to a government fund.
Moreover, some Caribbean countries have a good standard of education, renowned medical schools translating to good alternative schooling opportunities for young adults. Good medical care is another bonus.
As expected, the Caribbean has a lot of tourism potential that draws global tourists and investors. An investment in the region now also implies positioning one’s self to benefit from the tourism potential expected from 2022/2023, when some form of normalcy would have returned to the world and people are expected to jet out to the Caribbean once again for sunshine and fresh air.
Going by the potential, citizenship by investment (CBI) in the Caribbean at this time is simply investing now for the future as the tourism industry will eventually peak in the area faster with possible higher return on investment.
Owning a passport from one of the five countries allows for visa free travel to numerous countries including the UK and Schengen states, hence reducing embassy visits, which affords clients a huge respite.
Existing developments as well as projects, which are expected to be completed from 2022/2023, would be well positioned to cater for the needs of vacationers exploring such locations.
Privado Luxury and AID Consultants track record over the years has enabled them to provide the best possible advice to clients on obtaining a second citizenship and facilitate citizenship by investment in the Caribbean while adhering to strict due diligence based on accountability and credibility in performance with the various governments.
Privado Luxury and their partner have consistently offered the CBI since 2013, through signature hotel brands in St. Kitts, Grenada and Commonwealth of Dominica.
Okoya, is the managing partner, Privido Luxury