Are you and your family looking to relocate overseas this year? Well, the Caribbean could be the perfect choice, where residency and citizenship by investment programs especially designed for families are becoming increasingly popular.
In today's article, we are going to provide you with all you need to know about the Caribbean countries that you and your family could call home very soon.
Why choose the Caribbean?
The Caribbean is well-known across the globe for idyllic sandy beaches, beautiful clear water and delicious food. However, there is more to the region than tourism, in fact, a number of the countries that make it up are starting to offer permanent residency and citizenship there, and here we will share 3 programs designed for families.
Grenada is situated in the West Indies in the Caribbean, making the island nation set in an idyllic location and therefore popular for both tourists and expats from across the world.
Not only this, but also being close to the North American continent and with reliable air links to Europe, Grenada is located very handily for business people and families looking to make the move abroad.
So, in terms of investing in citizenship for you and your family, Grenada requires an investment of US$200,000 for a family of 4 into the Government’s National Transformation Fund. Once the investment is made, 90 days later you should be approved and you will all be issued your passports and free to move to your new home in the Caribbean, where there are no external income taxes and entry to the UK and EU nations is possible without a visa.
Anguilla, situated in the West Indies, is a British Overseas Territory, which means there are some interesting implications regarding the citizenship status you can obtain once you’ve been a resident there for a little while. Anguilla finds itself in the eastern Caribbean Sea, and is idyllic in every sense of the word, offering numerous beaches and spots to visit, which is probably why it is so popular with tourists, but also why it is increasingly cropping up on the radar of expats.
Anguilla is a practical choice for many expats as the official language is English and there are excellent opportunities for free education, something to consider if you’re looking to relocate with your family.
The investment pathway designed for families is in real estate, where purchasing a home worth at least US$750,000 will cover a family of 4. It is worth bearing in mind that for any additional family member over 3 years old the value of the property must increase by US$100,000. There are also around US$40,000 worth of processing fees which shouldn’t be overlooked.
Similarly to Grenada, residents of Anguilla gain visa-free access to the EU once they become citizens. But not only this, by relocating there with a view to naturalising, you have a pathway to becoming a full British citizen after 10 years as a British Overseas Territory Citizen in Anguilla.
Dominica is one of the most beautiful islands in the Caribbean, with pristine beaches, waters, and a safe and laid-back lifestyle. This English-speaking nation quickly became one of the most popular to relocate to and its passport being prized for a variety of benefits.
For a family of 4, the total costs of investing in real estate in order to receive citizenship in Dominica is US$250,252. This is very affordable when compared to other programs in the region, but also across the globe as a whole. Interestingly, you only have to spend half of the year in the country in order to experience the taxation benefits that come with citizenship. This includes no foreign income or capital gains taxes. The investment also only takes three months to process, meaning your family will be able to relocate in no time, and start travelling visa-free to the 152 countries covered by their passport.
So, if you are interested in finding out more about Caribbean relocation programs for you and your family, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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