Caribbean citizenship is a chance to freely travel to the United Kingdom, the Schengen countries, and numerous other authorities. It also offers a wide range of opportunities for tax planning and the protection of finances, including cryptocurrency. The recent variations of passport programs both in Antigua and Barbuda and Grenada have triggered interest among high-net-worth foreigners. Which country provides a better offer, when it comes to the costs and conditions of getting second citizenship? Find the details in this article.
Antigua and Barbuda Citizenship:
Antigua and Barbuda is a country that consists of two small islands, and its citizenship-by-investment program is one of the newer ones in the region. It doesn’t have an extensive history in this industry like St Kitts and Nevis.
The donation amount of Antigua and Barbuda was reduced to $130,000 back in 2017( including fees) as a way to raise quick capital for the hurricane-hit Barbuda. But, as history shows, their ‘limited-time’ reductions in price generally become permanent.
So, the minimal $230,000 investment( including fees) has stayed, making an Antiguan passport the cheapest one you can get for a family of four.
Why you should Choose Antigua and Barbuda?
You’ll be in good company in Antigua and Barbuda, one of the most luxurious and exclusive two-island- states out there. With a quick flight from North America and a longer one from Europe, the country really has plenty to offer to foreign investors.
English-speaking and part of the Commonwealth(ex-British colony), Antigua and Barbuda thrive on tourism, which generates roughly 60% of its GDP. Over a million people – mostly Americans, Canadians, and Europeans – visit the country every year.
Antigua has recently expanded its main airport terminal, spending 45 million on three passenger jet bridges and 25 check-in counters. Direct flights to London, New York, Miami, and Toronto are available pretty much every day.
They’ve capitalized beautifully on their beaches, coves, and lagoons. Antigua has built some of the most exclusive resorts in the world and Barbuda continues attracting people with its untouched and raw natural beauty, and fewer facilities as well.
Just like its neighboring island states, the country lets foreigners invest and manage their capital at a bit the cost than in the western world.
How to Obtain a Passport From Antigua and Barbuda
- Make a Donation
Contribute $130,000( including fees) for up to a family of four.
- Invest in a Business
Invest at least $400,000 in a local Antiguan business.
- Invest in Real Estate
Invest $230,000( including fees) in pre-approved real estate.
- The University Fund
Contribute $150,000 to the University of the West Indies Fund
Benefits of Antigua and Barbuda Citizenship:
Visa-free trip to 150 countries. Although the exact list of countries will vary and you can check the up-to-date official list here, you’ll be suitable to travel to roughly 150 countries without applying for a visa. All of the Schengen area, South Africa, Hong Kong, Brazil, and others.
Access and privileges in the UK. Since Antigua and Barbuda is part of the Commonwealth, its citizens are entitled to certain privileges in the United Kingdom and its other member states.
Dual citizenship for life. You’ll get to enjoy your citizenship for life and the same goes for your children. You’ll obtain the right to live and work in the country. Still, you won’t automatically have the right to vote in elections.
Quick passport. The total time it takes, from the lodging of your application to actually holding your passport in your hand is fairly quick, especially when compared to European CBI programs.
No residence requirement. You don’t have to live or even visit Antigua and Barbuda to obtain a passport. Lodge an application and only if you receive a passport will you have to spend five days in the country in five years to retain your citizenship.
Favorable tax. Even though you can’t live tax-free in Antigua and Barbuda if you choose to become a resident, the tax environment as a total is relatively favorable. The country has no capital earnings, gifts, wealth, inheritance, or real estate tax. Income tax isn’t charged on income that’s generated outside of the country.
An island paradise: There’s no denying the fact that Antigua and Barbuda is one of the top vacation destinations in the world. Antigua’s resorts and Barbuda’s unspoiled beaches and nature attract over one million visitors a year. You could have a second home there, with easy air connections to major hubs in North America and Europe.
The Step-by-Step Application Guide:
- It’s not an extremely restricted CBI program and all of the conditions are standard in the industry.
- They’re as follows
- You’re 18 years or older
- You can’t be someone who’s under warrants, restrictions, or bans to enter EU countries, the United States, the UK, or Canada
- You must have no criminal record
- You must be suitable to confirm that the source of your income is legal and that you have enough money coming in to survive
- Good character and good health
- You mustn’t be a trouble to the integrity and the safety of Antigua and Barbuda.
Grenada:
A luscious Caribbean island state, Grenada is known for its vast stretches of white-sand beaches, pristine rainforests, and spice exports.
For years, Grenada and its sumptuous resorts have been attracting high-net-worth individuals; top-notch sailing opportunities and its crystalline shores have offered many a relaxing getaway.
Grenada is also known for being an offshore haven and for offering its Grenada citizenship by investment (CBI) program for those who want to obtain a second passport.
Why Grenada:
Grenada is a country in the Caribbean that’s also known as the ‘Island of Spice.’ The second-largest exporter of nutmeg in the world, this country has some of the most immaculate natural environments in the world.
First, even though its population of 113,449 as of June 2022 is somewhat small, it’s a young and dynamic one. The median age is just 32 years, and the population is highly educated too.
Second, even though its history is turbulent and colonial (the Spaniards, French, and British all vied for Grenada), its current international standing is solid. It is part of the Commonwealth, the UN, and the Caricom – the Caribbean Community organization.
Third, it’s got a favorable location, which doesn’t just mean balmy temperatures of 80F and above year-round. It also means that Grenada sits just outside of the hurricane belt; for the most part, tropical storms pass it by.
Citizenship by Investing in Grenada:
A CBI program is another term for economic citizenship. It’s when a country’s government decides it wants to attract foreign investment by selling its citizenship. That’s either because it has no other way to raise funds or it finds itself under a sudden economic strain, for instance, after a recent natural disaster.
Usually, a potential investor will have to accomplish one (or a few) of the following actions:
- Make a non-refundable donation to a national fund
- Invest in (government-approved) real estate
- Set up and run a local business, employing local people
- Invest in government bonds or some sort of another financial instrument.
Benefits of Grenada’s Citizenship
Visa-free travel to 135+ countries. All of Europe’s Schengen Area, the UK, Ireland, some Balkan countries, and some of Latin America are available to you visa-free with Grenada CBI.
Visa-free travel to China and Russia. If you do business in Russia or China often, Grenada might be a great investment saving you lots of hassle and time in the long run.
E-2 visa treaty. The investor visa to the United States is accessible to all Grenadian citizens, making Grenada the only CBI program in the Caribbean to have this feature.
Speedy processing. The government has worked hard to process applications as fast as it can by introducing the pre-check step in the application process. The Grenada CBI program is not the fastest CBI in the world, but it sure is one of the quickest in the Caribbean region.
Invest only after you’re approved. You won’t have to pay for your investment until after you’re approved for Grenada’s citizenship.
Pass it on. Your Grenada citizenship will be passed on to your children and their children. Create a legacy that lasts a few lifetimes.
Grenada Recognizes Dual Citizenship. Grenadian citizenship is for life; you will have the right to live and work in the country for as long as you want. Grenada recognizes dual citizenship, so you can also be a dual citizen – there are no restrictions on that.
No language requirement and no interview. The application process is straightforward and you won’t be made to jump through any unreasonable hoops. The Grenada passport requirements do not include any language knowledge.
Fully digital process. From document submission to obtaining your passport, the entire process is fully digital. You won’t need to travel to Grenada for any part of the application.
Children, parents, grandparents, and siblings are eligible. The main applicant can add his entire family members under one application. The Grenada CBI program is the only CBI program to accept siblings.
Application Process of Grenada
First, you’ll need to check if you’re eligible:
- 18+ years old
- No criminal record
- Proof of legal income and your net worth
- In good health
- Not under sanctions, restrictions, or bans on entry to the European Union, USA, the UK, and Canada
- Haven’t been convicted for a crime for which the punishment is 6+ months imprisonment
- Are not under current criminal investigation
If you are looking for Second Citizenship Antigua and Barbuda, Grenada is the best and easiest option. We have briefly explained there process and benefits of citizenship.
