Caribbean passports have captivated Middle Eastern citizens for years. The ability these passports provide to travel visa-free has been the primary motivation for countless investors and entrepreneurs to obtain such passports.
From our experience at Savory & Partners, we have understood the main driving force for our clients to obtain second citizenship and passport, is the ability to secure the future of their families and their freedom, given the circumstances in their home nations.
Curiously, many of our clients astonish when they discover that they can purchase property in the Caribbean from USD 200,000; which is well-known for its sunny tropical weather and for being home to some of the most stunning beaches and holiday destinations in the world.
Compared to purchasing property in other prominent holiday destinations, the price is certainly reasonable. And here comes the reason why it gets even more beneficial: investors obtain not just a property or share in real estate that can be resold after a few years; they obtain Caribbean or EU citizenship and passport as well. It’s a life insurance that provides them with more opportunities for themselves and their families in the future.
“Compared to purchasing property in other prominent holiday destinations,
the price is certainly reasonable”
We discussed this subject with our team of experts and they gave us their opinion on some of the top benefits of investing in second citizenship beyond visa-free travel.
Children Have Access to Better Educational Opportunities
Children who hold second citizenship, whether European or Caribbean have remarkable benefits. Their second passport opens doors to higher and quality education in many western countries. Having the ability to travel visa-free to the Schengen states or even to the UK will allow them to familiarize with different cultures and choose between some of the best universities in the world.
A second nationality could also help your children extend their student or work visas once they complete their studies, something that’s denied to countless students from countries presumed to have a high-chance of overstaying their visas.
Avoid Sudden Travel Restrictions Based on Your Place of Birth
Business people suffer due to governments that apply sudden travel bans and sanctions indiscriminately on certain nationalities. Many individuals hoping to overcome these unfair travel bans and sanctions invest in a second citizenship to avoid this issue; they are aware that geopolitical policies can have an impact on their ability to travel, do business or complete their studies.
Indeed, many business people who had never encountered any issue obtaining work visas can abruptly find themselves on the blacklist of countries subjected to complex and lengthy visa application processes. A second passport in such cases guarantees your ability to continue with your lifestyle and ensures your birth nationality does not hinder your possibilities of career projection.
Decide Whenever you want to live in a better place
In today’s world, having the freedom to decide when and how you want to relocate is a significant benefit not all families can afford. A second citizenship will provide the opportunity to have a plan B in case of risky situations such as political instability; or even urgent medical treatment that might not be available in your home country.
“Investors obtain not just a property or share in real estate that can be resold after a few years;
they obtain Caribbean citizenship and passport as well”
Since many of our clients come from conflict areas, they express a second passport has helped them overcome this difficulty as many of them have been able to move abroad with their families; something they call as “starting a new life of freedom, avoiding restrictions due to their birth nationality”
Freedom to Do Business and Create Extra Partnerships in New Markets
Business people who come from countries believed to have political difficulties, often face extra checks or capital restrictions on their business transactions, which limits their capability to do business and grow their companies in essential business hubs. Holding a second citizenship from the EU will ease the process when applying for business licenses, transferring funds for legitimate purposes or opening bank accounts internationally.
Additionally, there are specific industries’ sectors which are exclusive to local citizens. Becoming a dual citizen means you will obtain the best of both nationalities, such as access to business opportunities in both markets, even to those business possibilities that are limited to local investors.
Choose How You Want to Retire and Improve Your Tax Planning.
Individuals holding dual nationality enjoy many more options when it comes to where and how they want to retire and therefore, decide where to be tax residents.
The Caribbean is renowned for being home to a big community of wealthy – high net worth retirees from diverse nationalities, who decided to spend their retirement in islands like Antigua & Barbuda, Grenada, St Lucia or the Commonwealth of Dominica. They enjoy favourable rates of currency exchange in countries where the cost of living is lower than in many western countries.
For these reasons and more, investing in second citizenship from the EU or the Caribbean is much more than a ticket to global mobility. A second citizenship is an ultimate asset used by investors and HNW individuals to guarantee better opportunities in all aspects for themselves and their families at a glance.
If you want to have more information on our citizenship and residency by investment programs, please sign up on our website, or don’t hesitate to contact our team of experts for a consultation FREE of charge: WhatsApp +971 54 440 2955.