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Caribbean Passport and citizenship by investment programs
Mundo offers many financial products like corporate structures, bank accounts, trust registering and tax optimization, but from all these products one of our favorites is the dual citizenship or residency.
Maybe because this is step one in our Forever Free strategy, maybe because Mundo is formed by experts and writers that have travelled and lived in different parts of the world, but the truth is we truly take pride in our citizenship packages.
What is a dual citizenship and what is it used for?
The concept is quite simple to understand. Most people are born with only one nationality, the one of their country of birth, and live with one nationality their whole lives.
However, having a dual citizenship can really open, never more literally, a whole world of opportunities not only for you but for your whole family.
Science and narcissism
According to Sigmund Freud, there were three major strikes to human narcissism during history.
The first one was made by Nicolai Copernicus in the 16th century when he presented his heliocentric theory to the world. Suddenly the earth was not the center of the universe anymore, but another one of many planets in the solar system.
The second one came in the 19th century and this time it was Charles Darwin who proved that human beings were nothing more than very evolved animals, who were not created in the image and likeness of god. Instead, we came from the monkey as a result of centuries of natural evolution, and the worst thing of all, we are just another link in a never-ending chain of ever improving and ever-changing process of natural selection.
Also in the 19th century, human beings had already accepted that their planet is not the center of the universe and that they are not the creation of some almighty and superior being, but they still thought themselves as completely autonomous creatures with the freedom of choice.
Sigmund Freud then discovered what we call the subconscious and proved that, far from being autonomous creatures, human beings acted and still act according to subconscious impulses that are constantly trying to find their way to the surface and influence every one of their decisions and actions.
It seems that human beings are not the center of the universe, are not divine creatures, and the hardest strike of all, they are not at all free.
This can be easily extrapolated to other aspects of life as well.
You are only as free as your passport allows you to be
You can never be a hundred per cent safe, nor predict what the future may bring, but what you can do is to prepare yourself in case things turn bad. Having a plan B can save you from a possible disaster and a second citizenship becomes a key factor in this matter.
Like it or not, nobody is really free. Human beings like to think that they are, but the truth is that they are tied to their subconscious, cultural believes, environment, responsibilities and especially they are tied to their passports.
That´s right. You acquire your citizenship by birth and are only allowed to live and work in this country, and, if you ever want to try something different, to move to Alaska, or the Fiji island or Saint Petersburg or whatever may be your dreamland, you won´t be able to do it. If you are really lucky, you will be allowed to enter this country without a visa and only stay there for three months, after which you will have to inevitably move on.
We are not free as long as we are tied to the laws of one and only one country.
By being bound to only one country you are bound to many things, good and bad. Your government can impose whatever tax they want and you will always be subject to this country´s business legislations. Moreover, no country is ever 100% safe, meaning that, if social unrest or economic crisis should hit your country, you won’t have absolutely any protection against it, as you are limited by that document that we call a passport.
The 20th century was a perfect example of this, with the big depression in America and the wars in Europe, the revolution and socialist regimes in China and Russia, the endless dictatorships and hyperinflation in Latin America, and the new century is not looking any better.
But the most important point, the one we can´t stress hard enough, is that, when all this exploits in your face, there is nothing you can do about it anymore. The key is to be prepared in advance.
Prepare now for the tragedy of tomorrow.
Prepare now for the tragedy of tomorrow: the corona crisis sets a new tendency
I was in my home country when the coronavirus was declared an official pandemic and the entire world simply shut its doors down. But I lived abroad many years and have heard that some expats encountered real difficulties during these times. I lived in Panama for four years and I’m a resident, I could have entered Panama before the border was shut down because I have a Panamanian cedula, but that was not the case for many of my friends.
Some expats were living in Panama under tourist or short-term visas that usually allows them, under normal circumstances, to live peacefully in the country. However, these tourist visas are not helpful at all under extreme circumstances. Many expats were not allowed to enter the country because they were considered tourists. Not having the right passport or residency document can be extremely dangerous in situations like this. If you don´t have the passport or cedula, you are simple not one of them and under an emergency the country will not host you nor support you.
Moreover, this new pandemic is changing the game for the CBI and RBI programs around the world. Before, the applicants would want a place with little minimum-stay requirements, so that they could keep their residency and its benefits without too much attachment and requirements.
Now the tendency is changing, and this will be reflected in the whole CBI industry. People won´t just look for a nominal citizenship anymore but they will look for a place where they can find refuge and live comfortably. They want a safe haven where to go in case of emergency, or, if they would ever have to quarantine in their second country, they want to know they will be safe and secure.
The applicants will now be looking for a country with a good food and water supply, with good infrastructure and developed services, they will want to know if they have access to medical insurance, what types of consular services will they have access to, and is their new country going to repatriate them if such a situation will ever become necessary.
The Caribbean passport
In this context, one of the best places where you want to be during a crisis is the Caribbean. A Caribbean passport will give you excellent advantages.
With a warm weather year-round, if the food system completely collapses, you know that you can survive by growing your own food, or at least there will be small markets of local people growing their food and selling it or distributing directly to consumers.
The Caribbean islands are also very quiet places. With the warm weather and a laidback tropical lifestyle, people are usually not willing to riot or strike, and social unrest is rare. Caribbean people are by nature friendly and peaceful.
With this laidback lifestyle you can still conduct business, because the Caribbean countries offer interesting investment and business options. Among these options are the Caribbean citizenship by investment programs. Through these programs it is possible to acquire citizenship by buying real estate or contributing with a donation to the state.
Saint Kitts and Nevis
St. Kitts and Nevis is a British colony inhering all the traditional human rights and legal protections of a commonwealth British State. That means the State protects its citizens against arbitrary arrest, unlawful extradition, or political persecution, and its citizens have access to the British courts and are extended asylum in case of political persecution.
It also offers one of the best asset protection tools in the world which is the Nevis trust. About the Nevis trust we explain in detail in this article.
There are two ways of acquiring citizenship in Saint Kitts, one through real estate with a minimum investment of 200,000USD, or by a 150,000 USD nonrefundable contribution to the state.
Grenada is also a particularly stable territory and - very importantly - has the lowest insecurity and crime rate in the region and a common law legal system with an independent judiciary.
A highly developed tourism sector primarily drives the Grenadian economy. During the last two decades, the island moved from an economy primarily based on the agricultural industry to a service-based economy.
Grenada is not only inherently a free economy but also a growing one. Since 2013 its annual growth rate has always been over 3%.
Moreover, Grenada is the only Caribbean country that offers the possibility of an E-2 visa for the US.
In order to acquire a Caribbean passport in Grenada, you need to make a contribution of at least 150,000USD, or an investment in real estate of a minimum 220,000 USD.
Find more information about the Grenada citizenship program here.
Antigua and Barbuda
Antigua and Barbuda is an excellent jurisdiction for business as it doesn´t levy taxes on income, your existing holdings, or inheritance. By holding an Antigua and Barbuda passport you are able to travel visa-free to 151 countries, including EU countries, the UK, and Ireland. If you do not wish to live in the country, then you can only visit once every five years and still maintain citizenship.
The minimum investment for real estate is 200,00USD and the minimum contribution to the national fund is 130,000USD.
From all the Caribbean citizenship by investment programs, St Lucia offers not only real estate and contribution option, but also an investment option in government bonds.
St Lucia also doesn´t levy taxes on private earnings, wealth, or inheritance, and offers a passport which allows travelling visa free to 121 countries. Another great advantage is the possibility to apply remotely, without the need of visiting the country.
This island offers one of the cheapest contribution options with only a minimum of 100,000USD. The minimum contribution through real estate is 300,00USD and the minimum required investment for government bonds is 250,000 USD (including up to a family of four members, any extra member will have to pay an extra fee).
Dominica is an island of volcanic formation, and, although it has many actives volcanos, eruptions are exceedingly rare. This is an island of extreme beauty specially for its spectacular beaches and mountain landscapes.
Dominica´s passport also offers visa-free travel to 137 countries and does not tax income, inheritance nor wealth.
The minimum real estate investment is 200,000USD and citizenship through contribution can be acquired with a 100,000USD minimum investment.
If you want to compare the different Caribbean programs you can do so by using our comparison section, where you will also find the option to compare with European CBI programs.
If you wish to have a second citizenship of a country where you can find your safe refugee during a time of crisis, please contact us and our experts will guide you and help you throughout the process.
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