Real Estate Investor Magazine South Africa Real Estate Investor Magazine - July 2017 | Page 54

RESIDENCY BY INVESTMENT Demystifying Second Citizenships Best Investment Options BY MICHA-ROSE EMMETT T he rise in regulatory restrictions, economic challenges, and political uncertainty in various countries has always been affecting the lives of businesspersons and their families. More than ever, the search for security and stability, as well as the promise of a better future, attracts many to the option of second citizenship. Indeed, over the past few years there has been a surge of wealthy businesspersons seeking intelligent citizenship solutions™. A solution for everyone The Caribbean citizenship-by-investment model was created as a flexible alternative to time-consuming residence or minimum-stay requirements, with the goal of providing efficient and quick citizenship solutions to businesspersons with demanding schedules. These economic citizenship programmes are straightforward as they provide two investment routes to apply for citizenship: an investment in a government fund for local economic development; or an investment in pre-approved real estate. The former has proved to be the more practical solution for investors willing to take steps towards second citizenship, as applications are processed rapidly once a single contribution to the government fund is made. The latter, on the other hand, requires communication with several third party agents, such as real estate developers and local real estate authorities, and mandates that investors hold their acquired real estate property for three to five years. Currently, there are five active citizenship-by- investment programmes in the region, of which three particularly stand out. The St Kitts and Nevis Citizenship by Investment Programme This is the pioneer of economic citizenship, having run for 33 years. Unsurprisingly, the country has established itself as a leader and innovator in the citizenship by investment market. It offers the ‘Platinum Standard’ of citizenship-by-investment. 52 JULY 2017 SA Real Estate Investor With a minimum investment starting at US$250,000 and a new fast-track option to secure delivery of passports within 60 days of submitting a successful application, the St Kitts and Nevis Citizenship Programme is ideal for busy businesspersons and their families. Dominica’s Citizenship by Investment Programme Established over 20 years ago, this programme has earned a reputation for being one of the most transparent programmes of its kind. It is also the most affordable citizenship by investment option for single applicants, incentivising applications from entrepreneurs seeking to improve their business opportunities. The Grenada CBI Programme Designed with family unity in mind, this programme provides an effective solution for large households. Grenadian citizens can enjoy wide access to the world through visa-free travel to China. Citizens of Grenada can also apply for residence under the United States’ E-2 Visa Programme, allowing them to invest in one of the world’s strongest economies. REST ASSURED “Caribbean citizenship by investment programmes are becoming increasingly popular among businesspersons and international families, because they truly are the insurance policy of the 21st century. The advantages are clear: flexibility, mobility, and the freedom to live and work in an increasingly global environment.” Learn more about these programmes on the following websites: St Kitts and Nevis