Second citizenship can be an excellent way to increase your global mobility, attract attractive taxes, and invest in lucrative opportunities. If you’re interested in acquiring a second citizenship, consider investing in one of the Caribbean countries’ citizenship by investment programs.
If you want to get a Caribbean passport, then you need to know the differences between them.
Both Caribbean passport applications offer investors excellent advantages including a short processing period, favorable tax regimes, flexibility regarding residency rules and visa requirements for applicants, as well as the ability to include family members in the passport request.
So, the final decision really comes down to what your priorities are. Do you want an inexpensive solution for just one person? Or do you want something that can handle multiple people and visas? Does it matter if you can travel to certain countries without a visa? These are all questions that should help guide you toward choosing the right software.
If you’re looking for global mobility, Saint Kitts and Nevis passports rank 55th in the Passports Index, which allows them to travel to 142 countries without a need for visas. Dominica passports rank 78th, but despite having a lower ranking, Dominicans can visit China without needing a Chinese entry permit.
On the one hand, if you’re looking for fast processing times, St Kitts and Nevis have an accelerated application process that guarantees successful applications within 60 days or sooner.
For a single applicant, Dominica is much less expensive than St. Kitts: the initial investment is just $100,000 instead of $150,000.
But let’s have a look at each of the programs in more detail and explain what are their benefits, process, requirements, and costs
A Quick Look at Each Citizenship by Investment Program
Dominica Citizenship by Investment
The Dominica citizenship by investment is a legal process through which foreign investors can obtain Dominican citizenship and a Dominican passport. The Dominican passport allows visa-free travel to over 130 countries, including China, Russia, Singapore, the UK, Hong Kong, Canada, and Schengen countries, and also provides visa-free access to the Dominican Republic. It requires a minimum donation of $100,000 for single applicants or $175,000 for a family of four.
St. Kitts and Nevis Citizenship by Investment
Saint Kitts and Nevis, located in the Leeward Islands of the Caribbean, has offered citizenship by investment for more than three decades now. The Saint Kitts and Nevis Citizenship by Investment program has been amended several times since, and most recently the changes increased the investment requirements and added new due diligence measures.
The program requires a minimum donation of $150,000 for single applicants or $200,000 minimum investment in an approved real estate project. Also, there is the option of a $175,000 non-refundable contribution to two distinct investment routes: the Sustainable Growth Fund, real estate, Public Good Project. A family of up to four persons can apply for citizenship under the same investment, with additional investment requirements for each additional family member.
Benefits of Each Program
The Benefits of the Dominica Citizenship by Investment
There are many benefits to obtaining Dominican citizenship through investment. These include:
- travel without visa for more than 130 countries, including all Schengen zone, China, the UK or Russia.
- The right to live, work, and study in the Dominican Republic
- The right to own property in the Dominican Republic
- The right to pass Dominican citizenship on to future generations
In addition, Dominican citizenship provides access to quality education and healthcare, as well as a stable political and economic environment.
Benefits of St. Kitts and Nevis Citizenship by Investment
St. Kitts and Nevis citizenship offers a number of benefits, including visa-free travel to over 130 countries, including the Schengen Area, the UK, Hong Kong, Singapore and Russia. Citizens also enjoy the right to live, work, and study in any country in the Organization of Eastern Caribbean States (OECS).
In addition, St. Kitts and Nevis has a low tax regime and does not tax foreign-source income. There is also no wealth tax, estate tax, or gift tax. And similar to Dominica, citizenship can be passed on to future generations by descent.
Citizens of St. Kitts and Nevis also have access to quality healthcare and education. And the country is known for its stable political and social environment.
Overall, St. Kitts and Nevis citizenship offers a number of benefits that can be enjoyed by individuals and families.
Eligibility Requirements for Both Programs
There are a few eligibility requirements that are common to both programs, quite similar to what happens in other Caribbean countries offering the same type of investment routes for citizenship. These include
- the applicant must be at least 18 years of age
- have a clean criminal record
- must have sufficient funds to support themselves and their dependents
In terms of residence, there are no staying requirements for both programs. And the family eligibility for each program includes spouse, children, and parents and grandparents over 65. For St Kitts and Nevis Citizenship there is the option of siblings (under specific conditions).
For the application process there is no need for an interview, no language requirements or residency proof.
The timeline is usually 3 months for Dominica and 2 months for St Kitts and Nevis if the fast track option is applicable.