Why should you get a Caribbean passport right now?
What is the Caribbean? There is no such nation; rather, it refers to an entire Caribbean Sea region made up of various island nations. Therefore, why do we have a Caribbean passport?
A Caribbean passport is a category of identification card that a nation issues to its people that allows them to travel abroad. It serves to identify the holder, to denote their nationality, and to grant them access to benefits and assistance from other governments while they are abroad.
There are almost 7,000 islands in the Caribbean, along with other states and foreign territories. And just a few Caribbean nations have investment opportunities that allow you to obtain a second passport in exchange for a fair payment.
The origins of contemporary citizenship by investment programs can be traced to St. Kitts and Nevis, which began to grant passports to international investors in 1984 in exchange for contributions to the Sugar Industry Diversification Fund.
Since then, these initiatives have gained a lot of traction as a strategy for luring foreign investment to the Caribbean and Europe. However, it continues to be the origin of numerous initiatives that present the most alluring choices to affluent people.
Access levels and differences between Caribbean nations are dependent on the passport. For instance, a passport from Antigua may allow visa-free travel to the UK, Canada, and many other nations, whereas one from The Bahamas may only permit travel to other nations in the Caribbean. Having a Caribbean passport may make it simpler for you to travel, depending on the nation you are leaving or entering.
The Caribbean passports of these Caribbean countries come with numerous advantages, including the ability to travel to more than 150 countries without a visa. Because of this, Caribbean Second Passport is extremely popular in wealthier neighborhoods.
Currently, five Caribbean islands provide qualifying candidates the chance to acquire Caribbean citizenship by investment:
One can only purchase a Caribbean passport from one of the government-approved agents for any of these 5 nations. Since the first Caribbean CBI was established, a considerable number of files for Caribbean citizenship have been successfully processed by Caribbean Trust, the first in the Middle East and the most trusted agent by Caribbean Governments
Advantages of a Caribbean passport:
- Affordability: Caribbean investment opportunities offer excellent value. You and your dependents can obtain a second passport with a valid period of 5 or 10 years, subject to extension, for a fair investment.
- Global mobility: A Caribbean passport serves as your entry ticket to up to 156 countries throughout the world where visas are either granted upon arrival or are not required. Caribbean nationals can visit the EU, the UK, Singapore, and the USA without a visa, and they can also do so for business.
- Tax haven: Caribbean nations are well-known tax havens for the incorporation of foreign businesses that will conduct business outside of their own countries. Most people who apply for citizenship by investment are non-tax residents, and the Caribbean’s tax system is particularly advantageous to them. All money earned outside the country of your second nationality is not subject to taxation; this is a great way to minimize your tax liability and protect your assets.
The absence of various taxes that you are accustomed to playing at home may also please you. Dominica does not have a property tax, and neither does St. Kitts and Nevis or Antigua and Barbuda.
- Family-wide second passports: Foreign investors may include their spouse, children (including those from prior marriages), parents, grandparents, and siblings in their petitions for Caribbean citizenship by investment. Which relatives you can list on your passport application depends on the laws of your particular nation. Future generations can inherit Caribbean citizenship.
- Dual nationality and remote processing: Caribbean governments have established strict rules for citizenship by investment applications to be submitted to them only through authorized agents. This is a good way to get a second passport without leaving your house. You would not even need to visit your new country of nationality, with one exception. You will be required to spend at least 5 days in Antigua and Barbuda in the first five years after obtaining citizenship. Your new passport will be waiting for you in 4 to 6 months at an agent’s office or, if requested, can be couriered to your home address. Caribbean jurisdictions allow dual citizenship so you will not have to renounce your first nationality.