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Second citizenship requirements through investment
In this article, the second citizenship requirements through investment and the application steps will be facilitated with all aspects explained.
They say that fear is caused by ignorance, which is why people try to know the full details of any matter so that they can handle it comfortably.
From this logic, I will bring the picture closer to the investor by explaining the conditions for the second citizenship from the Caribbean islands, and mention the points that the investor can earn in the event that he obtains these nationalities.
After reading this entire article, I am sure that the investor will get an explanation of many points, and at the same time he will be impressed by the ease of the requirements and conditions for obtaining a second citizenship.
Citizenship by investment
For a number of reasons, countries have created various programs through which an individual can acquire their citizenship, provided they invest in their land.
This investment varies between real estate investment and non-refundable contribution with some other simple requirements explained in detail.
The importance of obtaining a second citizenship is of great value to businessmen, travelers, and those looking for a new nationality.
Because the second citizenship gives the investor first-class commercial advantages, the most important of which is the ease of movement between countries and the ease of preserving and securing wealth in countries with auxiliary tax systems.
It also helps family owners to obtain health and educational benefits, and the ease of adding a family with the investor to benefit from these systems.
Caribbean countries help individuals obtain citizenship and a second passport in the fastest and most affordable way in the world. With an investment of $200,000, you can obtain citizenship within 6 months.
The two most important advantages that can motivate investors and businessmen to benefit from this citizenship is that it does not require staying on its lands before or after obtaining citizenship. And without an interview or exam of any kind.
The second advantage is that the Caribbean passport is a powerful passport, as it helps you enter 150 countries with a visa, mainly Britain, Canada, China and all Schengen countries.
The Caribbean government accepts dual citizenship with the possibility of opening bank accounts and companies in any of the major countries in the world (Britain, Canada, China, America, Germany, Russia, France and Hong Kong).
If you want to know more about Caribbean Citizenship Programs, you can click to read our full article entitled Caribbean Citizenship by Investment.
Global Citizen Consultants
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Second citizenship requirements and conditions
– Invest in one of the desired ways as mentioned in the investment section.
– The main investor must be at least 18 years old and have a valid passport.
– Not to suffer from an infectious disease.
– You are not required to renounce your first citizenship due to the Caribbean government accepting dual citizenship without sharing your file with your country of origin or with third parties.
– Not have been sentenced to more than 6 months in prison in any country in the world unless you are released by a general amnesty.
– That you have obtained the funds used in the investment in a legal and clean manner.
– There are no exam or interview requirements, and no requirement to remain in the Caribbean countries before and after obtaining their passport. However, you can visit these beautiful islands whenever you want.
– There are no restrictions on any of the nationalities for getting Caribbean citizenship, but the investor must go through a background check and due diligence process.
– The application steps, required papers, family addition systems, and taxes are explained separately, each in its own section.
Please note that the requirements include the principal investor and all of his/her dependents.
Taxes and second citizenship requirements
– Caribbean countries do not impose any tax on income, corporations, and capital gained from abroad. There are no withholding or estate taxes, including inheritance and gift taxes.
– There is no tax on interest earned on offshore bank accounts, and information about bank account holders is not shared with tax authorities in any other country. Where the Caribbean countries refused to sign tax agreements with other countries. This enabled it to maintain financial privacy by not publishing any information about the companies and their owners.
– There are no local taxes on income earned outside their jurisdiction, and corporations and their owners do not have to pay capital gains and property taxes in addition to income generated outside the Caribbean nations.
– There are no rules for foreign corporations, so no resident who owns a foreign trade will be taxed.
– There is no residence tax unless the person is present and resides there more than 183 days a year.
– No VAT on financial services, education, construction, real estate sales and agricultural products, and there are no restrictions on the re-export of capital and profits.
– There is no VAT on financial services, education, construction, real estate sales and agricultural products, and there are no restrictions on the re-export of capital and profits.
Family members and second citizenship requirements
– The spouse of the main applicant.
– A child under eighteen (18) years of age of the main applicant or his or her spouse.
– Children of the main applicant or his/her spouse between the ages of eighteen and thirty who are attending full-time at a recognized institution of higher education and/or are fully supported by the main applicant.
– Parents or grandparents of the main applicant or his/her spouse over fifty-five years of age who live with and are entirely dependent on the main applicant.
– Only siblings of the main applicant under the age of 30 (unmarried, childless and financially dependent on the main applicant).
– The child of the main applicant or the wife/husband of the main applicant who is over eighteen years of age and has a physical or mental disability.
– “Child” means a biological or legally adopted child.
– The possibility of adding all children from all current and divorced wives.
– It is permissible to join all the wives of the investor, but each wife must be in a separate file in case the investor has more than one wife.
Investment and second citizenship requirements
– A real estate investment of $300,000
– A non-refundable contribution of $200,000
– Investing in government bonds is $300,000
– The West Indies University Fund for a family of 6 is $250,000
– Investment in public interest projects is $250,000
Required papers and second citizenship requirements
– A copy of the passport and identity card
– Birth certificate
– Marriage contract for married couples
– CV – profile including educational and employment history, if applicable
– Criminal investigation paper
– Medical certificate
– Proof of Dependency – Dependency statement document on the main applicant for dependents
– Asset statement
Steps to apply and second citizenship requirements
After selecting an accredited company from the Caribbean countries, they will go through the following stages:
– Choose the preferred Caribbean country and investment for your situation.
– Collection and examination of documents.
– Translate and certify documents and fill in all government forms to ensure they comply with the requirements of the Caribbean countries.
– Submit pre-screened documents with due diligence and application fee to the Caribbean Government.
– After a background check, which takes a maximum of 3 months, initial approval is obtained from the Government of the Caribbean, and then the investment funds are paid according to the investment program chosen.
– Obtaining Caribbean citizenship and passport.
For all these reasons, Caribbean citizenship is the best and most convenient second passport by investment program. Because of the low requirements and high advantages. You can read our other articles in the field of citizenship and investment.
About Author
Taher Shehab
As co-founder and CEO, Taher Shehab has guided Global Citizen Consultants to be a leader in providing citizenship by investment in over 20 territories, including the Caribbean.
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