Are you an investor that simply wants to invest his money into something? Well, the main goal you probably have is to turn your investments into profit on a long-term basis. But, did you know that you can also invest money in another citizenship? Okay, this may not be directly, but there are investments that can get you another passport.
Have you ever heard about Citizenship by Investment Caribbean programs? These programs let you invest in the islands and get another passport that can bring a lot of benefits. Generally speaking, there are many ways you can reach your goal. In some cases, you may need to purchase a property. On the other hand, a decent donation to the national economy, non-profit organizations, or anything else can bring you the same advantages.
We are sure there are many people here that can imagine themselves living on some of the Caribbean islands. You can enjoy a huge number of beautiful beaches, a lot of entertaining stuff, a decent climate during the entire year, and friendly locals that can become your true friends. If all we mentioned seems like a dream, then you certainly should know more information about Citizenship by Investment Caribbean Programs. That way, you will know which steps you have to take to reach your goal. Let’s go!
1. You Can Get Citizenship by Donations
First and foremost, you do not even have to invest in a property on the island. All you will have to do is to donate to some organization and help all the people that live there. For example, you can invest in the medical field, education, new schools, and other stuff. Sometimes, you will have the freedom to choose on your own, while in other cases, the local authorities may have special requirements.
Speaking of requirements, there are certain rules that you need to respect. Generally speaking, on most Caribbean islands, the minimum amount you will have to donate to get a passport is 100 thousand dollars. If you plan to get two citizenships, the prices vary from 150 to 200 dollars. In some cases, you may manage to bring the entire family with you for that price.
All these rules can be a bit confusing. Because of that, you may need to ask for professional assistance. The good news is that there are many companies on the Caribbean island that will help you go through the entire process. You can read more about these services, Citizenship by Investment programs, and other important information on https://imperiallegal.com/caribbean-passport/
2. But, You Can Also Buy a Property
Both options are good, and we can’t decide which one is better. Generally speaking, having a property on Caribbean islands is not a bad idea at all. You will have another residence where you can come whenever you want. Many successful people decide on this move and they start living there immediately after they retire. They want to spend the last days of their life on beautiful beaches where the climate is decent!
So, how do things work? Well, it depends. How much money you will have to invest in a property depends on how many people you plan to bring with you. There are joint investments, individual investments, and family investments. For yourself, you probably won’t have to spend more than 200k dollars. On the other hand, there are also some islands that won’t even allow you to get citizenship if you and your partner do not have at least 4 kids. These rules may seem strange, but we have to respect them.
On the other hand, money is not the only requirement you will have to respect. In some cases, you will need to respect the time limit. Just as you can imagine, these demands vary from one island to another. In some cases, you may need to keep the property under your ownership for a minimum of 3 years. On the other hand, that period may last 7 years in some other places. These are all the details you need to pay attention to!
3. You Will Get More Traveling Options
Amazing natural beauties and happy people are not the only reasons why people want to get a Caribbean passport. Let’s talk for a second about traveling. In how many countries you will need to get a VISA as permission to enter the territory of some country? We are sure the number is not low. But, with almost every Caribbean passport, you won’t have problems of that type. Believe it or not, you will manage to enter more than 150 countries with any citizenship that you get without a VISA. That will make your travel more comfortable.
4. There Are Also Additional Costs
This is something you need to be aware of as well. Just because you need to spend 200 thousand dollars on some of the mentioned options, that doesn’t mean you will cover the full price. Generally speaking, people get surprised when they see that additional fees do exist. No, they are not the type of hidden fees at all. People are just too amazed by the fact they are buying a new property and they miss reading all facts in the document.
For example, there are some administrative and state fees you need to be aware of. How much it will cost depends on the program that you decided on. Apart from that, it also depends on the number of people that are applying and how old they are. For instance, if you decide to invest in state funds, the fee can be 30 thousand dollars. That rule counts even if your family has up to 4 members. On the other hand, if there are, for instance, six of you, the two additional members will have to pay 15 thousand dollars. For kids that are up to 17 years old, the fee can be up to 4000 American dollars. These are just examples to understand how things function in this world. However, as we said, the fees, just like everything else, vary from one administration to another. Because of that, read the law before you spend money or simply hire someone who already is familiar with these costs.