What’s on the horizon for citizenship? The Solomon Islands might be paving the way to offering CBI

So far, we know our second citizenship options by heart. In the 21st century, financial challenges are increasing, along with the influence of the main economic powers. Some experts say that getting second citizenship is not about luxury anymore, but a necessity, and Mundo couldn't agree more. There have been many changes to the CBI scenery, and alternative citizenship options seem to be emerging. We think it's interesting to consider CBI from this new perspective.

CBI as one of the best investment alternatives

Repeatedly, we have talked about the importance of second citizenship. This step covers two important fronts: an investment move, and the possibility to enhance your citizenship options. An exception to this would be the donation, which is mainly focused on those who put investment on a second plane. However, the combination of the two has benefits that cannot be denied.

In 2024, Mundo recommends mainly the five Caribbean countries or Vanuatu. In the old world, the closest bet to the best alternative investment through CBI is Turkey. Nonetheless, three years ago the story was different.

An interesting second citizenship was found in Cyprus. Nobody was able to argue or rebut the advantages of a jurisdiction in Europe with low taxes, excellent financial environment, and a desirable life quality. The whole industry was sad to hear that the program was closing in 2020. 

Another alternative citizenship that could get you closer to Europe was Montenegro. In this case, the program was not canceled but simply finished its cycle. Since day one it was supposed to be a program with a time limitation and after one extension it finally came to an end.

Western European countries like Spain or Portugal offer golden visas, but this grants residency instead of citizenship. In a way, this is similar to Panama's Qualified Investor, only in the country of the canal we can find other perks. These are: easier paths to citizenship, lower costs of living, friendlier business policies, and territorial taxation.

In simple words, for years, the options have remained the same, meaning that the investment alternatives are donation or real estate circumscribed to the same jurisdictions. For a different option, you can find investment alternatives under the Saint Lucia CBI. Here you can invest in government bonds. Whether it is convenient or not it’s the applicant's call. 

On the one hand, it's a much simpler approach but it doesn't bring returns like those you may obtain from real estate. The attractiveness when compared with donation is that it does offer full cash back.

Alternative investment on the horizon? Solomon Islands citizenship 

One month ago, the Solomon Islands government made an announcement. With the intention of launching a CBI program, the government completed the first draft of the corresponding bill. The idea has been in place since 2020, and four years later this is where we stand.

Jeremiah Manele, the Prime Minister, stated that the revision of the bill is a priority but also expressed his concern regarding regulations. If there would be a Solomon Islands citizenship, program applicants and their families would have to undergo strict due diligence. For Manele, reputation is the number one priority.

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While he recognizes the benefits a Solomon Islands citizenship will bring to the country, he acknowledges the risks. This is why a thorough consideration regarding the regulatory framework will be implemented.

Best alternative investments today

As we mentioned above, it took four years to draft a bill and it's understandable. An alternative citizenship program must be developed carefully. So, what are the options today?

Antigua and Barbuda

Although it is true that the program increased its costs, the same can be said of all the Eastern Caribbean citizenships. What Antigua brings to the table is the possibility of widening the scope of dependents. A novelty is that spouses can apply even if they get married after approval, this is as long as they meet certain age requirements.

Saint Lucia

We didn't know if St. Lucia would enter the MOA because the government announced they needed to assess the implications. Finally, they joined the agreement and applied changes to their program as well. Besides the donation and real estate investment alternatives, there's also the possibility to invest in government bonds.

Grenada

It should not be mistaken with Granada, the province in Spain. This is a charming island known as the Island of Spices because of the ample production and export of the mentioned condiments. If there's something to highlight about Grenada, it's an unbelievable project located in the National Park. It promises to be one of the best in the region and is government-approved for CBI.

Disclaimer: this article presents general information about the Solomon Islands citizenship possibility, and the currently available programs. This article is based on editorial research and therefore, should not be taken as financial or migration advice. Before applying for any citizenship program, make sure to conduct research and consult with a certified professional.

Access the best alternative investments with Mundo

We don't know what the future may bring but we do know the options available today. They all have their advantages and disadvantages but in any of them, you can find reliable jurisdictions to call home.

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