One of the first basic rules of investing is to diversify one’s portfolio. The reasons this is important range from minimizing risk of loss to preserving capital and generating returns. One way to do this, and a continuously rising trend, is to obtain second citizenship by foreign investment. There are many reasons this type of investment is gaining popularity, particularly with the worldwide pandemic and civil unrest in many parts of the globe.
Stability and Security
A second passport from a country that is politically stable and experiencing a time of peace country can provide the utmost in security. Economic citizenship truly opens up a world of possibilities, especially for high-net-worth investors looking for a better quality of life. Second citizenship can benefit families for generations by offering access to high-quality healthcare and some of the best schools in the world, qualifying them for domestic rather than international tuition fees.
New Business Opportunities
New business opportunities open up to participants in citizenship by investment programmes as they are now able to do business in the host country, as well as travel abroad more freely to take advantage of international opportunities. A second passport provides access to not just one, but potentially many new markets, facilitating both trading and scaling-up opportunities.
The global mobility provided by different countries varies greatly – some countries offer visa-free travel to only 40 or 50 countries, whereas others provide access to over 150. An alternative passport provides the freedom to travel and eliminates the inconvenience of having to send a passport to a foreign embassy or consulate for processing even when a visa is required.
Dual citizenship can also allow investors to manage their wealth more effectively through options for tax optimisation in various countries. Some countries only tax income earned from that country and do not subject capital gains to taxes either.
Range Developments, an ultra-luxury resort developer, offers access to second citizenship via its Citizenship by Investment (CBI) programme on the Caribbean island of Grenada. By investing US $220,000, plus associated fees in a government-approved real estate project, investors and their families are granted dual citizenship, allowing them to make an investment (suggested minimum amount is US $150,000) in the United States in exchange for the ability to reside and work there. One such government-approved project is Six Senses La Sagesse, expected to be complete by 2022 and slated to feature one hundred luxury rooms and suites, oceanfront villas, spas, shops and watersports’ facilities.
Citizenship in Grenada offers access to the USA E2 visa application, allowing investment and residency in the United States, as well as visa exemption for travel to approximately 140 countries – including the UK, Schengen, Russia & China. Additionally, residence on, or even a visit to, the island is not required. The programme provides expeditious processing of second citizenship, including for parents, grandparents, and unmarried siblings of the investor. After a holding period of five years, the investor is entitled to resell the investment to a subsequent buyer who may also apply for citizenship, while the original investor maintains his or her citizenship in perpetuity.
“Real estate investment has always been a solid way to diversify one’s portfolio,” said Mohammed Asaria, Managing Director and Board Member of Range Developments. “Now there are possibilities for that investment to bring even more than diversity, but security, stability and a brighter future for many investors and their families. We are proud to offer one of the most successful CBI programmes and help so many investors attain a better quality of life.”
Range Developments is the market leading investment and hospitality company, operating across the Eastern Caribbean. Range Developments is the only company that has a track record of delivery in the Citizenship by Investment sector with multiple completed projects including the world acclaimed Park Hyatt St Kitts (opened in 2017 – awarded best New Hotel in the Carribean by CNN) and Kempinski Dominica (opened in 2019 – awarded as the Most Anticipated New Hotel in the Caribbean by Forbes)