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Choosing best citizenship by investment for 2024 depends on several factors, most important are visa-free travel, affordability, Tax facilities.
After long experience in the field of citizenship by investment, we have figured that finding the best program that offers citizenship by investment is somewhat difficult because individuals’ requirements vary depending on their needs. Therefore, you should read this article carefully in order to choose the best one according to your needs.
However, despite differences in investor choices and preferences, some programs remain suitable for most investors and are preferred by many around the world. One of these programs is: citizenship from Caribbean countries and European countries.
Citizenship by investment programs are those programs through which you can obtain the citizenship and passport of a country after investing in real estate there or contributing to the government of that country.
It has to be a balance between what countries offer and what they ask for, and the reason why some Caribbean islands are so popular is that they offer a lot to individuals and in return ask for very little.
Some of the advantages of the Caribbean islands are: visa-free access to 150 countries, good tax systems for managing money and wealth, beautiful islands, reasonable investment requirements and minimum residency requirements.
Some European countries, such as Portugal, Spain and Greece, also offer a Golden Visa programme, through which you can invest in European real estate and then obtain residency, leading to citizenship in the future.
Although the Golden Visa program requires time and lengthy residency applications, but it is preferred by Gulf investors. Malta, for example, has a Direct European Citizenship programme.
Factors for choosing the best citizenship by investment
It means entering the largest possible number of countries without a visa compared to other countries. All Caribbean countries have powerful passports that enable you to enter over 150 countries without a visa, giving you visa-free access to Britain, China, Canada and all Schengen countries. St. Kitts is considered the strongest Caribbean passport as overall.
But every country has its advantages. For example, if you want to enter China without a visa, a Dominica passport will do that for you. And if you have business relations with America, Grenada has a good relationship with America, and through this relationship you are eligible for a work permit for 10 years at a time. But if you want to enter Canada, with a Saint Lucia passport, you can enter Canada without a visa.
In order to obtain citizenship by investment, individuals have to invest different amounts in different ways in the countries of these nationalities. Investment methods vary from one country to another. There is real estate investing, investing in bonds and stocks, and financial contributions.
As for investment amounts, Turkey needs $400,000 as a real estate investment that can be resold after 3 years, and Dominica needs $200,000 as a real estate investment that can be resold after 3 years. But Saint Lucia, for example, only costs $100,000 as a non-refundable contribution to the Saint Lucia government.
This is the only point that pushes us to leave the circle of Caribbean countries and choose a European country that offers a direct citizenship program. By this we mean Malta, the European country that offers its citizenship after residing for a year in Malta and then obtaining a permanent European passport for the investor and his family members.
The reason we chose Malta is the quality of life in Malta and the possibility of living there. Malta also has world-class European universities and an outstanding European health system, not to mention social systems for family members and pensioners.
Turkey is also a second citizenship option for Middle Eastern citizens, although the asking prices are higher than their Caribbean counterparts. Antigo and Barbuda, another Caribbean island, offers a convenient citizenship program with special investment amounts for families of 4 or more.
Maltese citizenship allows the addition of spouse, children, parents and grandparents. Caribbean citizenship accepts all of the above, in addition to siblings, with different age range accepted.
There are some countries that require a long residency to obtain citizenship, such as most citizenship programs in the world, and there are countries that require a short residency to obtain their citizenship, such as Malta. There are also countries that do not require residency, but require visiting them at least once to obtain a passport, such as Saint Kitts and Nevis.
On the other hand, there is Saint Lucia, the beautiful Caribbean island that does not require any residency to obtain it, neither before nor after obtaining citizenship. In addition, you are not required to interview, know the language of the country, show any academic credentials or work experience. You can apply from your home and have your Saint Lucia passport delivered to your home without ever setting foot on this island.
The Caribbean countries offer the most popular tax system in the world. For example, Saint Kitts and Nevis does not impose any tax on personal income, gifts, inheritance or capital. In addition, Grenada does not impose any tax outside its jurisdiction. These tax facilities help business owners who are looking for tax efficiency, but in this matter you need a citizenship expert to help you choose the right tax system for your situation.
Business and bank accounts are another benefit you can access through citizenship programs. Entering countries without a visa means establishing businesses, opening company branches, establishing companies, and opening famous international bank accounts.
We will ignore all the mentioned benefits if the program is not reputable or if it is suspicious citizenship program. Only well-known programs guaranteed by the constitutions will be mentioned.
Caribbean citizenship is one of the most popular and oldest citizenship programs, having been in effect since the 1980s. It is worth noting that the Caribbean countries accept dual citizenship, and they are within the British Commonwealth, and you can obtain citizenship after submitting the application within only 6 months.
Over the past year, many changes have occurred in citizenship programs around the world, the most famous of which is the abolition of the real estate option in the Portuguese Golden Visa, investment amounts have increased in some Caribbean countries, and personal interview procedures have begun to be required by 4 Caribbean countries.
But despite all the circumstances and pressures, the Saint Lucia Citizenship Program was named the Best Citizenship by Investment Program of 2024 for the following reasons:
▣ Speed of completion: It is one of the fastest programs for obtaining citizenship. The process period ranges from 4 to 6 months.
▣ No personal interviews: The only Caribbean country that does not require any residency or personal interview before, during or after obtaining citizenship.
▣ Power of the passport: A powerful passport through which you can enter 145 countries without a visa, the most important of which are Canada, Britain, and all Schengen countries, with easy access to Australia and America.
▣ Taxes and Business: Saint Lucia does not impose any tax on capital, wealth, gifts and foreign trade.
▣ Investment Amounts: Although investment amounts for other programs are became higher, Saint Lucia has kept these amounts low by requiring a $100,000 as a contribution or a $200,000 as a property investment that can be resold later.
Saint Lucia citizenship may not be the best option for you, so it is essential to consult an experienced citizenship by investment specialist in order to find the best program that meets your future aspirations and current vision.
Global Citizen Consultants has more than ten years of experience and accreditation in the field of citizenship by investment programs. Contact us now to speak with one of our experts.
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