What are the Benefits of Investing in Property to Gain Citizenship?
July 9, 2018 - News
When applying for citizenship by investment with no requirement for residency, there are two main routes to do so:
1. Contributing to a Government Fund
2. Investing in Real Estate.
In the Caribbean jurisdictions such as Antigua and Barbuda, Dominica, St Kitts and Nevis, Grenada and St Lucia this is done through investing in Government Approved projects, either commercial, residential or touristic.
When it comes to the real estate route, as consultants we are often asked if buying property in the Caribbean is good value.
A Highly Desirable Destination
As a region, the Caribbean is an undisputed leader in luxury beachfront travel destinations. Resorts in the Caribbean consistently are named among the best in the world with new properties constantly added – giving visitors new reasons to return.
The lure of the Caribbean has given rise to a number of resort developments by major global hospitality brands such as the Park Hyatt, Kempinski, Sixth Senses and more in recent years, which is even more promising for the general uplift of the value of real estate, as well as the destination as a whole.
In fact, in 2018, Conde Nast’s HOT LIST of 100 top hotel openings featured 5 new hotels in the Caribbean – including the Park Hyatt in St Kitts, a development funded through the country’s citizenship by investment program.
Seafront property in a destination with beautiful beaches, fabulous weather all year round and laidback living are the dream for most.
With their tropical setting and uniquely rich cultures (each island is a bit different from the next due to the different mix of local, British, Spanish and French history you come across in each), the Caribbean has been attracting tourists who come to experience its colourful culture, art, music and festivals for decades.
In addition, it is becoming an increasingly popular stop-off for cruise ships, which is bringing even more high-spending tourists to its shores.
The good news is the Caribbean is a surprisingly affordable destination in which to acquire a slice of real estate paradise. Real Estate investment through the citizenship by investment programs start at USD200,000.
Looking at the longer term, no matter how the market fares, beautiful properties on an island paradise are always in high demand. Plus, the 5% rate of return you will receive on your investment, on average, is higher than what the same amount would earn in most savings accounts.
It’s even better value for money when you consider that the investment you are making in the property comes with a passport and citizenship for life.
To recap, when you choose to invest in citizenship, you can donate USD150,000+ to a Government Fund to acquire citizenship or, by adding an average of USD55,000, you could obtain a hard asset worth USD200,000 that you can sell in 3-5 years (based on the program you choose) and recoup the major part of your investment. In the long-term - the real estate route is therefore one of the most affordable routes to citizenship.
As a Government Authorized Agent, PassPro has been working with the best real estate developers in the Caribbean for years, we visit the islands regularly and our team personally vets projects we promote to our clients.
If you need any guidance on applying for legal second citizenship through the real estate investment route, we are always happy to answer your questions. Email us on [email protected] call +97145541449 or fill in the below call and we will be glad to answer your questions.
June 19, 2018 News
At the Caribbean Investment Summit that took place from May 16-19, 2018 in St Kitts and Nevis, PassPro was asked to commRead More