Top 4 Second Passport Countries in the Caribbean & Why They Are the Best
Having a second passport can serve as your ticket to expanded freedom. Many countries offer dual citizenship with a promise of unlimited business and travel opportunities, but one region still reigns supreme: the Caribbean. For those who did not know, there is a new sports betting site in Kenya.
There have been numerous reports that declare the Caribbean as the best region offering citizenship by investment programs, including the CBI Index. According to its latest report, nations in the Caribbean are consistently dominating the Index, with overall results in 2018 no different than 2017.
To understand why this is the case, this article looks into the four best second passport countries in the region and dissects the reasons behind this success.
Taking the top spot on the CBI Index is Dominica – a mountainous island nation that is home to many tropical rainforests and natural hot springs.
Earning an overall score of 90 percent, Dominica is considered the best second passport country in terms of citizenship timeline, due diligence checks, and ease of processing.
Over the years, Dominica has become a very well-known Caribbean second passport country, requiring only $100,000 in government contributions or $200,000 in real estate investment. It also tops the speed of processing of applications which is expected to conclude in just four months.
Dominica also does not require an applicant to reside in or even visit the country, and the passport they provide upon approval of application lasts for 10 years before it needs to be renewed. As for travel access, a Dominican passport can get you through 137 countries without the need to apply for a visa.
2.St. Kitts and Nevis
Following at second place in the 2018 CBI Index is St. Kitts and Nevis, with an overall score of 85 percent. According to the Index, the country scored a perfect 10 in both due diligence checks and ease of processing.
As the pioneer in CBI programs, St. Kitts and Nevis is still respected in terms of providing a passport that is worthy of being called an investment. This is because the document they provide affords economic citizens with lifelong rights as a legal citizen that can be passed down to future generations of the family.
Like Dominica, it also offers easy access to many countries. The visa-free or visa-upon arrival status extends to more than 150 countries, which include no less than the British Commonwealth and European Union countries.
At third place in the CBI Index released in 2018 is Grenada, an archipelago with a capital famously known as the “Spice Isle” for its numerous nutmeg plantations. This country secured a top spot on the list because the Grenada citizenship by investment program offers minimal eligibility requirements and two investment options, which includes:
A $200,000 donation for families composed of a maximum of four people
The processing of citizenship rights application is also expected to last only 60 days, which is quite a speedy process compared to other nations around the world. On top of that, Grenada is also a good choice for foreign investors who want to gain easy access to the United States and China.
4.Antigua and Barbuda
Although the citizenship by investment program in Antigua and Barbuda was only launched in 2013, the program was able to work its way to fourth place in the 2018 CBI Index, with an overall score of 80 percent.
A second passport from the country offers extensive international mobility that is on par with the best of the best citizenship programs around the world. Also, pristine beaches surround it, which is why it is one of the best places to live in. The best part is that the country is politically stable and has an attractive tax benefit program that many entrepreneurs cannot resist as part of a future plan to become permanent resident there.
Why Choose the Caribbean?
The Caribbean has been popular for its rich culture and jaw-dropping tourist spots for ages. Now, it has also gained a significant position in the world of high-net-worth individuals and families as a great place to get a second passport. Citizenship by investment – while not unique to the region – is arguably one of the best commodities offered in the Caribbean.
Kal Kennard is a Partner at Citizens International, a white-glove specialist firm offering private client services necessary for citizenship investment into the Caribbean, Canada and Europe. Based in the Caribbean for the past 15 years, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.