Citizenship by Investment
Citizenship by investment refers to a few programs by which individuals can become citizens of a country through a process which involves making an investment in that country. This citizenship program is also referred to as economic citizenship program. Such program can be found in the Caribbean islands of Dominica and St Kitts, both programs are well established and well supervised by government authorities in the respective countries.
There are many reasons why second citizenship is beneficial to individuals. By becoming a citizen of Dominica or St Kitts through its economic citizenship program the successful candidate have all the rights that other citizens of the countries have, this means therefore that a citizen can apply for a Dominica or St Kitts passport which can be used for visa free travel in many countries around the world. Dominica and St Kitts are both part of CARICOM (Caribbean Market) and although the new citizen may choose to reside in the country where citizenship was granted that person can reside in any of the countries which make up CARICOM and enjoy many benefits which this organization makes possible. A person who has become a citizen of Dominica or St Kitts through an economic citizenship program is not obligated by any law to reside in that country.
Citizenship by investment is ideal for individuals who for some reason are encountering limitations with their present citizenship status. There are still many countries in the world which obligate citizens to do mandatory military service so by becoming a second citizen of a country such as Dominica or St Kitts can protect children from this obligation. With the rise of terrorism around the world some the citizens of some nations have become stereotyped with negativity especially when travelling, then a new passport with second citizenship will be perfect for these individuals.
Perhaps one of the biggest benefits to becoming a Dominica Citizen or St Kitts citizen is the tax benefits which these countries present. Both countries are tax havens and have no taxes imposed on income gained from abroad. Tax exemptions on foreign gained income are guaranteed for the following: capital gains tax, income tax, corporate tax, stamp duty, withholding tax, inheritance tax and others.
The new citizen of Dominica or St Kitts is not obligated by any law in those countries to give up present citizenship. The laws of these countries allow for dual citizenship.
The investment options for Dominica economic citizenship program are: the Single Applicant – for a singlecandidate single or married; Family Application 1 –for a candidate and a spouse; Family Application 2 – for a candidate, spouse and two children 18 and under. Application cost and processing fees for additional children will apply.
- Single Applicant Investment –US$ 100,000 plus processing and agent fees
- Family Application I – US$ 175,000 plus processing and agent fees
- Family Application 2 – US$ 200,000 plus processing and agent fees
- Families with more than two children will pay additional amounts determined by age of dependent.
The St Kitts citizenship by investment program have two options; the real estate option where applicants make real estate investments in government sanctioned programs and the Sugar Industry Diversification Foundation Options which has four categories which range from single applicant to applicants with six or more dependents.