The small island of the former British Colony in the Caribbean in the west indies with a residence of 54,000 people and the smallest sovereign state in the Caribbean is made up of two islands. Like many, you may not know much about this, but two things that come to mind when thinking about this one is residency the other is hurricanes.
What Is The Link?
The two actually have a link, back in 2017 the island had a hurricane that damaged a lot of the Island, this meant with a small population the country needed aid, with one of its main sources coming from residency programs it reduced its program from $250,000 to $150,000 for the worlds oldest residence program. This program is favoured by many for its safety.
What Is The Program?
Originally designed in 1984, it was the world’s oldest and most popular residency program. In 2006, it was changed to help the sugar industry (one of the country’s main industries) into a citizenship program.
What Are The Options?
You invest 200,000 USD into a government-approved property, note this will not yield the most attractive returns if any and may even have to make a loss. But it is a good way to get a passport via investment.
Secondly, invest in a property worth 400,000 USD, it can be a property of your choice and sell it 5 years later and split the proceeds with the government, this is subject to fees.
What Is a Better Option?
It depends on what you can spare, more money or more time, the property investment takes longer but cost more. Although you could get some of it back via investment this is not guaranteed. However, the 150,000 USD one-off payment may be more suited for those who are short of time and can afford to give up the cash.
Additional Fees
- Single applicant:
- $150,000 main applicant​
- $7,500 due to processing and application fees​
- $25,000 main applicant
- Accelerated Processing Fees, if applicable ​​Main Applicant plus up to 3 dependants: ​
- $195,000 non-refundable donation​
- $10,000 for additional dependants, regardless of age​
- $7,500 due diligence and processing fee for the main applicant​
- $4,000 due diligence and processing fee for each dependent over the age of 16​​
- For the real estate investment route, additional fees include ​​Processing Fees:​
- $7,500-main applicant​
- $4,000-each dependant over the age of 16
- ​​Government fees:​
- $75,000 (approximately)​
How To Apply?
You will need to register through one of the islands schemes, this can be done through an agent or law firm such as Henley, who specialize in this area of expertise. The documentation that you need are, birth certificates, bank records, medical check-ups and proof of address all less than three months old.
How long does it take for the government to do its checks on you? Around 2-5 months. Although this can be sped up with an accelerated program for 20,000 USD that does in under 60 days.
The benefits are:
- Get Visa-free travel to 141 countries including Russia & Europe.
- No tax on income wherever you earn your money
- Dual citizenship
Summary
Although you have a range of dual citizen programs in the region that has brought the price down to compete, it may not be the cheapest of options in the area, however, it is widely regarded as the most stable and reliable within the Caribbean. Although, there are alternatives if you have a few million to invest in places like Malta, Cyprus, and Austria. These do cost significantly more with the Austrian paying a few million. So for what it is worth, it has value for money, and what you get in terms of visa travel, low tax, and security it is one of the best options.
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If you have any questions about a citizenship program or want to help with a tax or investment situation, please email me at info@investmentsforexpats.com.
