All parents strive to secure a bright future for their children; however, these ambitions can be foiled by economic, political, or socio-economic factors of your country of residence. These factors can hinder your ability to provide the lifestyle your family deserves – better healthcare, safety, and education. Investing in the best dual citizenship for your children can open doors to all these and global travel.
What is Citizenship by Investment?
Citizenship by Investment programmes offer the opportunity to legally acquire a new nationality in return for an investment in the economy of the host country. Such programmes provide citizenship status without causing any major disruptions to an investor’s life, given they pass all the due diligence checks first, make a qualifying investment and deliver all the correct documentation.
Just over a dozen countries in the world currently offer citizenship by investment (CBI). There is a higher concentration of CBI programmes in the Caribbean – a region considered the cradle of second citizenship by investment.
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The Benefits of a Dual Citizenship for Your Children
Second citizenship can be an opportunity for your family to gain access to healthcare that is delivered at the highest standards. Many countries that offer citizenship provide access to first-rate healthcare systems with the ability to support citizens through times of adversity fully.
The Commonwealth of Dominica is more than halfway through the construction of the anticipated Marigot Hospital. It is scheduled to be completed in April 2021 and will feature a wide range of high-quality services and state-of-the-art facilities.
Over the next five years, the island of St Kitts and Nevis has committed to improving healthcare systems across the country. A new general hospital, quarantine facilities, pathology laboratories and other high-quality medical services are currently in the pipeline.
Personal safety is a priority of high importance for everyone; unfortunately, many individuals come from nations with little tolerance for diversity. Dual citizenship is an opportunity to gain access to some of the world’s most welcoming and safe countries.
Second citizenship can grant your children access to some of the top schools in the world, including the hub of education: the UK.
Foreigners who would like to study in the UK will need to apply for the Tier 4 UK Student Visa. If you are a citizen of either Dominica or St Kitts and Nevis, and you apply for the Tier 4 UK Student Visa, then you are exempt from the English language test requirement. Furthermore, if you reside in either Dominica or St Kitts and Nevis, and you apply for a Tier 4 UK Student Visa, then you do not have to undergo a tuberculosis test.
At present, if you have spent the last 14 days (actual physical presence) in either Dominica or SKN, you do not have to self-isolate for 14 days because both Dominica and SKN are on the UK’s travel corridor list. This applies to all persons coming from Dominica and SKN into the UK.
Suppose your child is already enrolled in a university in a country with which Dominica and St Kitts and Nevis have a visa-free travel agreement, then, as a parent, it is a lot easier for you to visit them on short notice.
Having dual citizenship can improve your family’s travel experiences as well. Through CBI, you can enjoy visa-free access to major nations around the world. Adult children can use this freedom to see the world on a gap year, or during and beyond the student days.
A second passport from St Kitts and Nevis allows visa-free or visa-on-arrival access to 150 countries. Similarly, Dominica’s CBI Programme, consistently rated number one in the world by the CBI Index, a publication by The Financial Times, affords investors visa-free access to 140 different destinations.
The CBI programme you choose depends on your financial state of affairs, the country and passport you favour your financial goals and of course, family situation.
The Federation of St Kitts and Nevis and the Commonwealth of Dominica offer two of the most highly ranked Citizenship by Investment programmes, affording second citizenship for the entire family through a quick and efficient process, with minimal investment and very few requirements.
Dominica’s Citizenship by Investment
Those who pass the due diligence checks can obtain Dominica’s citizenship by either making a minimum contribution of US$100,000 to the Economic Diversification Fund or investing at least US$200,000 in pre-approved real estate. The latter includes branded and boutique hotels and resorts that establish a burgeoning ecotourism sector in Dominica.
With the help of foreign investors, this ‘Nature Isle of the Caribbean’ hopes to also become the world’s first climate-resilient nation. Successful CBI applicants can enjoy visa-free or visa-on-arrival travel to 75 percent of the globe, access to good healthcare and education, and secure their family’s future for generations to come.
St Kitts and Nevis’ Citizenship by Investment
St Kitts and Nevis’ CBI Programme is the oldest in the world and one of the industry’s most successful. Second citizenship in the dual-island nation is an excellent solution for large families to gain mobility, secure their future, and build their legacy. The fastest and most straightforward route to second citizenship in St Kitts and Nevis is the Sustainable Growth Fund, which currently offers applicants a limited-time offer. Until January 15th, 2021, families of up to four (excluding siblings) who choose to become citizens only need to invest $150,000 instead of $195,000.
Antigua and Barbuda’s Citizenship by Investment
The Antigua and Barbuda Citizenship by Investment Programme offers a huge range of benefits. Established in 2013, the scheme grants you citizenship in exchange for an economic donation to this celestial Caribbean country. There is also the opportunity to apply for an Antigua and Barbuda passport, some of the benefits include: citizenship for life, with the right to live and work in the country, entitlement to dual citizenship, ability to pass on citizenship to future generations, and visa-free travel to around 150 countries and territories.
Antigua and Barbuda’s investment options include a minimum investment of $100,00 into the National Development Fund or $150,000 into the University of the West Indies Fund. Investors can also invest in qualifying real estate options or choose to invest in a business that has been pre-approved by the Cabinet of Antigua and Barbuda.
Grenada Citizenship by Investment
Grenada is appealing to large families and was the first Citizenship by Investment jurisdiction to allow siblings. However, in Grenada, siblings must be adults. They must also be single and have no children of their own. Spouses, children up to 30, parents and grandparents can also all form part of an application to Grenada.
Citizenship by Investment in Grenada is available through two options: a contribution to the National Transformation Fund (NTF), or an investment in a Government-approved real estate project, which itself presents two choices. Applicants can invest US$350,000 in any pre-approved project. Alternatively, applicants can jointly invest $220,000 in pre-approved tourism developments to which the developer have already committed 20 percent of the total expected cost. All applicants who purchase real estate from previous economic citizens must hold their real estate for five years.
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