The number of millionaires in the Caribbean increases almost weekly, in part due to the Citizenship by Investment Programmes offering HNWIs freedom to travel, smarter banking options, and personal security in times of economic instability.
Not only dual citizenship in the Caribbean open doors to remarkable holidays, family vacations and getaways, but it also gives access to many important perks and its natural recourses can easily be used to grow one’s assets by investing in the future of the country.
Currently, second passports and economic citizenship programmes in Grenada, St. Kitts & Nevis, Antigua & Barbuda, Dominica, and St. Lucia are quickly and easily acquired, and at a much cheaper rate than the programmes offered by other countries. Low waiting periods and conservative rates also make these programmes attractive to the fiscally responsible investor.
In order to gain economic citizenship, the applicants must first pass a strict vetting procedure that includes due diligent processes and comprehensive background checks. However, even after careful consideration, it is possible for citizenship requests to be rejected. On top of that, applicants are required to present certain documentation such as: health and medical records, financial statements, clean criminal history, personal and business references, & etc.
If you conceal or knowingly present false information, you may be subject to passport revocation. However, passport revocation is not specific to CIP passport holders only. The overturning of a passport applies to ALL citizens of a country.
Any government can revoke citizenship status to any individual if they feel the individual has become a threat to the country, behaved in a manor seen as unfit to the reputation of the country or its allies, intended to become or aid in terrorist activity, committed fraud, or committed an international crime.
The one main difference about CIPs is that at any time during or after the application approval/process, if the applicant has presented false information, lied or was untruthful in any way in relation to the application, related documents, or source of funds, then Citizenship can be revoked immediately.
The bottom line is, many countries have adopted provisions into their citizenship laws allowing the government to offer citizenships and passports to individuals who provide a significant benefit to their country: an exchange for monetary investments into government approved real estate projects or donations to government funds. These countries want individuals with a genuine interest in their country; citizens who are prepared to provide an outstanding service to their country or will be an asset, not a hindrance.
With the growing threat of terrorism at the global level, many of these jurisdictions are becoming increasingly aware and strengthening their vetting processes. Having a second passport has numerous benefits – It can expand your travel possibilities, reduce your profile against terrorists, increase your privacy, and can aid in international tax planning. For this reason, we recommend applying today for your chance to hold a second passport. We can help you with the completion of the necessary forms, filling out correct and up-to-date information.
For some clients, a clean background check is not possible, as some situations may need to be explained. NTL Trust’s extensive expertise and experience with economic citizenship can help guide clients through the application process, even with a chequered past, as long as the truthful information is presented from the start of the application process. Many governments judge applicants based on who they are, not where they came from. Don’t let a dark past affect a bright future. The past is no longer present – and we can help you prove that.