Why people are opting for an alternate citizenship amid coronavirus

In the present era, when uncertainty and fear loom over the world because of the COVID-19 health crisis, people have been trapped in their homes, and movement has been restricted.

The pandemic has not only affected the movement of people and other social gatherings but has also delivered a striking blow to the economies of various nations in the world.

As a result, many people, mostly Business Executives, are investing in Citizenship by Investment Programs in the Caribbean countries and obtaining citizenship in these countries out of those most popular are Dominica and St Kitts and Nevis.

The Ultimate Point for these two countries is that they are now totally free from cases of COVID-19 coronavirus. They act as safe heavens in the present times and in coming future when the deadly COVID-19 disease has spread itself in almost all the countries of the world.

Why people are opting for an alternate citizenship

Having alternate citizenship can prove to be very beneficial for the people who buy it, not only Dominica and St Kitts and Nevis provide safe heaven away from the COVID-19 but also offer other benefits such as visa-free travel, save the investors from heavy personal and corporate taxes in their home countries, bring new investment opportunities and these are a few of the numerous benefits.

Dominica offers visa-free travel to over 140 countries of the world, which means if you buy citizenship in Dominica, you do not have to wait for a longer visa processing period to travel to over 140 countries. Such hassle-free travel is an asset when it comes to the ease of doing business.

On the other hand, St Kitts and Nevis passport holders get visa-free travel to over 150 countries with the shortest application processing time of only 60 days.

However, not everything is related to business; these islands offer an essential feeling which lacks in a lot of crowded and big countries, which is peace of mind, the beauty of these island-nations is beyond comparison. The bonds between the races and communities are incredible.

John Cleese, the actor from Monty Python, moved to St. Kitts and Nevis after being dissatisfied of what he calls Britain’s toxic political culture after the Brexit referendum.

He said on a British news show that St Kitts and Nevis is one of the most beautiful islands he has ever been on and that the relationship between the races is superb in this country.

St Kitts and Nevis and Dominica can both act as offshore low-tax financial centres, and a good tax lawyer can easily make a case which will show that you do not owe tax in the other jurisdictions.

How to invest in these countries

If you are interested in investing in Dominica or St Kitts and Nevis, these are the types of investments that you can make-

Dominica-

1. The Economic Diversification Fund (EDF), which is a fund which supports the public and private projects in Dominica and includes the sectors such as Housing, Education, Healthcare, Sport, and Tourism.
2.  Real estate. If someone invests in real estate in Dominica, They shall hold the property for at least three years, and it should be authorised by the Government of the Commonwealth of Dominica and must be valued at a minimum price of USD $200,000.

St Kitts and Nevis-

1. Sustainable Growth Fund (SGF), The Sustainable Growth Fund for a single applicant would require a contribution of US $150,000, which will be inclusive of the Government fees. For a family of up to four people, the contribution would be USD $195,000. The fund would benefit St Kitts and Nevis in sustainable areas such as education, healthcare, alternative energy, heritage etc.
2. Real Estate, For investing in the real estate, Real Estate Investment with a minimum value of at least US$ 200,000 shall be made, and the property should be held for seven years before resale or investment of US$ 400,000 and the property should be held for five years before resale.

All in all, these two countries in the Caribbean are presently in high demand for citizenship by investment and have proved out to be very meaningful investments.

For the people looking for a safe haven in the COVID-19 pandemic, looking for low-tax financial centres, new areas of investment and abode in one of the most beautiful islands in the world, the answer is Citizenship by Investment Programs of Dominica and St Kitts and Nevis.