Belong Issue 5 Winter Edition by Truly Belong

INTRODUCING THE OLDEST AND MOST TRUSTED CITIZENSHIP BY INVESTMENT PROGRAMMES IN THE WORLD

Discover the Opportunity OF DUAL CITIZENSHIP

WHY OPT FOR CARIBBEAN CITIZENSHIP SOLUTIONS

Issue 5 WWW.TRULYBELONG.COM

Become a Citizen of the World

BELONG ACKNOWLEDGEMENT Our thanks to the many people who have contributed to this issue of BELONG. All rights reserved BELONG accepts no responsibility for loss or damage to material submitted for publication. BELONG does not necessary endorse all the views expressed in the magazine. No part of this publication may be reproduced, copied, or transmitted in any form or by any means or stored in any information storage or retrieval system without the publisherâ&#x20AC;&#x2122;s written permission. BELONG ÂŠ Copyright 2016 BELONG Magazine London, UK Email: info@trulybelong.com EXPERIENCE THE WORLD OF BELONG ON

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EDITOR’S NOTE

Embracing Change EXPLORING A NEW WORLD OF OPPORTUNITY

istory will remember 2016 as a year of uncertainty, transition, and surprises. In reaching for some philosophical assistance, that for me would capture the essence of 2016, I discovered this quote from 19th century French philosopher Henri Bergson: “To exist is to change, to change is to mature, to mature is to go on creating oneself endlessly.” We have experienced or been impacted by much change this year; the surprising outcome of Brexit and the intriguing US election results are two of the most dramatic. And the story does not end there as we learn daily of how disheartened people are in their countries, which can only be interpreted as a world that is reaching out for something more. Change is inevitable; difficult to embrace at first but necessary for us to grow as individuals, countries, and governments. If we stop growing, we stagnate. We decided that we too need a change. We wanted BELONG, as a platform, to embrace, not only a new look but also a change in content. We want to engage the reader with new stories relevant to business case studies and exciting lifestyle opportunities. We have however, not abandoned the core rationale behind BELONG – our focus remains that of educating citizens of the world about the incredible opportunities to gain greater freedom, accessibility, and sound financial security. For those who believe that a ‘citizen of the world’ is a ‘citizen of nowhere’ - I invite you to be come a ‘citizen of somewhere’... that somewhere being an exotic island country that offers both physical and economic safety. All one needs to truly embrace being a citizen of the world is the belief that we can make this a better world for our children; and enjoy the marvels of life. Change that feels uncertain, uncomfortable, and unfathomable is understandable, but true global citizens embrace it and always ensure their place in the sun. Micha-Rose Emmett Editor (Micha-Rose Emmett is the Group CEO for the international legal consulting firm, CS Global Partners)

Contents 03

Editor’s Note: Embracing Change

LIFESTYLE

Pure Investment Opportunities

The Right to Belong

Truly Organic Chocolate

The Core Benefits of Second Citizenship

Trending Conversations

The Win-Win Formula of Second Citizenship

DOMINICA

One Citizenship, Two Opportunities

Welcome from the Prime Minister

St George’s University

Address from the Minister of Trade, Energy, and Employment

GLOBAL CITIES

Growth Is Natural

Eco-Lifestyle Bliss

Water Export

ST KITTS & NEVIS

Trending Conversations

Welcome from the Prime Minister

Lost and Found

Address from the High Commissioner

St Kitts and Nevis – a Magnet for Foreign Direct Investment

Nevis Emerging as a ‘Safe Haven for Investors’

Spicing Things up on St Kitts

Trending Conversations

A Second Chance in St Kitts and Nevis

Developing the World’s First Sustainable Country

Citizenship and Residence by Investment: The Options

As Easy as 1-2-3

10 Steps for Obtaining an Alternative Nationality

Waters of the Caribbean

MOBILITY 46

Getting to the Caribbean

GRENADA 48

Welcome from the Prime Minister

Address from the Minister of Citizenship by Investment Promotion

The Capitals

FEE SCHEDULES 62

Dominica

Grenada

St Kitts and Nevis

The Right to Belong What is Citizenship?

ou can look at citizenship from two perspectives. Technically it is the bond between an individual and a country, whereby the individual is conferred rights and privileges, but must also fulfil certain obligations. But there is a far more profound interpretation – one that embraces the emotion of ‘belonging,’ of having value, and of being welcome. Citizenship plays a role in who we are, how we live, and how we interact in our relationships – be those with our families or friends – in our working environment, and even within a political landscape. It speaks to the heart of our civil identity where a cultural consciousness allows us to ‘fit in’ because we share common desires with others who experience the same dynamics of an environment. The two most common ways of being awarded citizenship are the laws of ‘jus sanguinis’ (citizenship by descent) and ‘jus soli’ (citizenship by birth). Jus sanguinis, meaning the ‘right of blood,’ defines your nationality by your family’s line of descent, such as by your parents’ citizenship. Jus soli is the acquisition of citizenship of the land where you are born, regardless of your parentage. How a government interprets those definitions and develops them is however entirely unilateral, which sometimes involves complicated considerations and legal frameworks. In a world that communicates across borders, people are becoming more aware of the restrictions and shortfalls of their jus sanguinis or jus soli citizenship, and look to other nations as a comparison. A second citizenship can be sought without severing ties from one’s inherited or birth right citizenship, and can present a new world of opportunities, advantages, and expanding horizons. Dual citizenship is for life, providing stability and wellbeing that can be enjoyed today and in the future, by individuals and their entire families. Ultimately though, a single or dual citizenship must be considered a cherished possession. It is an endorsement by a nation that you have worth. Taking ownership of a citizenship means you ‘belong,’ and ‘belonging’ means you will always have a place to call home.

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The Core Benefits of Second Citizenship

Diversified Investment

Citizenship by Investment

Your contribution will be used to uplift communities, create jobs, and enhance lifestyles. You can also choose to invest into a second home or rental property on some of the most desirable islands in the world. As a citizen you can also take advantage of a countryâ&#x20AC;&#x2122;s abundant business opportunities.

Lifestyle Enjoy a lifestyle that embraces healthy, spiritual, and eco-friendly experiences, whilst also taking full advantage of vibrant communities and first-class service. Choose life in a country where luxury and indulgence permeate every element of your daily activities, and where your children can be schooled in globallyrenowned educational institutions.

Security Move your family away from uncertain environments into politically stable and peaceful countries. Provide for an uncertain future by becoming part of a haven you can call home.

Global Travel A second passport may allow you to travel to many countries visa-free so that you and your family can become part of a globalised, interconnected world. Your business trips would be spontaneous and less time consuming.

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The Win-Win Formula of Second Citizenship

he majority of us feel a sense of pride about our countries: the nations to which we owe our allegiance by reason of our birth, inherited citizenship, or longstanding residence. These are the lands in which our culture is established, and our initial sense of identity and values are formed. Sometimes however, our countries do not meet our expectations: internal or external conflicts arise, the political landscape becomes unstable and threatens our personal security, opportunities for a comfortable lifestyle diminish, travel and career advantages are minimised, education and healthcare are restricted, economic circumstances are restrained, and privacy is undermined. In such situations, we can feel disillusioned by our country, and the promise of a better life that is often made by its representatives. The answer is to explore beyond the boundaries of our countries of origin, and to identify our global options. An alternative citizenship can provide a realm of new opportunities, bring about a higher quality of life, and support us in times of need. A carefullyselected second citizenship will also allow us to retain our citizenship of origin, enabling us to call on the protection and assistance of two nations. The advantages that come with holding multiple citizenships are varied. Among these are the right to hold citizen status for life and to pass that status onto children, freedom of movement and international travel, broadened rights to live, work, and vote, and access to a wider range of healthcare and educational institutions.

Alternative citizenship is just as beneficial to the country granting citizenship as it is to the prospective citizen. Individuals seeking a new citizenship are generally proactive and vital; eager to build a better future. They bring with them energy that can translate into entrepreneurial drive, and ultimately investment and the creation of jobs. This is particularly evident in the case of citizenship by investment, where applicants for citizenship bring foreign direct investment into a country, thus providing government income not derived from taxation. Citizenship programmes that offer applicants the option to contribute to a local charitable fund profit even more, as the monies deposited by prospective citizens are used to develop infrastructure and social wellbeing. Citizenship programmes that require investment in real estate instead result in construction booms, as well as greater demand for property markets. High returns on second citizenship are valued by governments, which continue to take steps to make their citizenship processes straightforward to attract more applicants. The Caribbean citizenship by investment programmes are particularly renowned for their streamlined procedures, which include no residency, language, business, or interview requirements. Whichever way we look at it, alternative citizenship is a winning solution. For the prospective citizen, it offers the opportunity to develop aspirations and achieve ambitions. At the same time, second citizenship betters the land and the people with whom the new citizen will share a common goal: upliftment, empowerment, and growth.

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Citizenship and Residence by Investment: The Options The options to live abroad are varied and range from citizenship to permanent residence and employment visas. Unless you are fortunate enough to have been born with more than one citizenship, taking advantage of these options can often be a tedious and time-consuming process.

DOMINICA - BOILING LAKE

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simple alternative is to consider citizenship or residence by investment programmes, which offer applicants the right to obtain a permanent status in a country in exchange for a contribution to that country’s economy. Citizenship by investment has been adopted by many jurisdictions across the Caribbean and in Europe. Residence by investment is a favourite option for other European nations, whose Governments only allow applicants to obtain full citizenship after a number of years.

‘Naturalisation by Exception Scheme,’ while Malta named its programme the ‘Individual Investor Programme.’ Although Malta and Cyprus provide differing benefits, common to both is their ability to offer applicants membership of the European Union (EU), entitling them to live, work, and travel within the member states.

Irrespective of whether applicants select a Caribbean or European jurisdiction in which to apply for citizenship by investment, upon naturalisation they can expect to enjoy increased travel rights, a low -or no-tax CITIZENSHIP BY INVESTMENT regime, economic and political stability, education options for children, healthier Since St Kitts and Nevis introduced the lifestyle choices, and life in retirement world to citizenship by investment in 1984, haven perfect for those who prefer a less similar programmes have been adopted frenetic pace. particularly throughout the Caribbean, and understandably so. The islands of the Caribbean are renowned for their RESIDENCE LEADING beauty, and individually present unique TO CITIZENSHIP opportunities to invest in flourishing economies whilst protecting their natural Two of the most coveted residence by environments. investment programmes, generally translating to In all cases, the Caribbean programmes offer at least two options for second citizenship: investment into real estate or into national development funds. In gaining a second citizenship through investment in real estate, owners of properties are provided with either a second home or a rentable property from which to derive a stable income. National development funds aid governments to build infrastructure and enrich the socioeconomic conditions of their citizens. Both options also encourage entrepreneurship and generate jobs for locals.

permanent residence and later citizenship, are those offered by Portugal and the United Kingdom. Portugal offers its ‘Golden Residence Permit Programme,’ granting permanent residency after five years, and citizenship after six. The United Kingdom requires residency for a minimum of five years before consideration of citizenship.

IN A NUTSHELL Please note that the amounts described below do not include due diligence, processing, application, naturalisation, passport, and property purchase fees. In all cases applications must be made via agents that have been authorised by the respective governments. Professional fees may apply.

The rewards for those choosing citizenship by investment programmes include fast processing times, no language or skills assessments, and no mandatory interview. Most programmes also exempt applicants from minimum residence or St Kitts and Nevis travel requirements. Malta and Cyprus are examples of European nations that offer similar structures for citizenship by investment. In other words, they do not require years of residence before citizenship can be granted. Cyprus calls its programme the

This twin-island state offers citizenship in exchange for an investment of US$400,000 into real estate for a main applicant and any number of dependent family members. Government fees apply for those who elect to purchase real estate, starting

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at US$50,000 for a single applicant. Alternatively, contributions to the Sugar Industry Diversification Foundation start at US$250,000, and increase to US$300,000 when two to four family members apply together.

Government fee is required for all applicants over 18. A third option is also available: a business investment, which requires US$1.5 million for a single investor, or US$5 million for multiple investors, with a total contribution for each investor of at least US$400,000.

Dominica Cyprus Lush, verdant Dominica requires a minimum investment into real estate of US$200,000 (applicable for single or multiple family members), or a donation of US$100,000 for a single investor into Dominica’s Economic Diversification Fund. Real estate purchases require the payment of additional Government fees, amounting to US$50,000 for a single applicant, and increasing with every additional dependant. Grenada This tri-island paradise requires an investment into its National Transformation Fund of US$200,000 – be that for a single individual or a family of four. Similarly, there is no escalation in the fee for an investment in real estate, which, whether for an individual or a family, amounts to US$350,000. Government fees of US$50,000 for up to a family of four also apply if real estate is purchased.

Malta

Saint Lucia

Portugal

The National Economic Fund of Saint Lucia requires an investment varying from US$200,000 for an individual, up to US$250,000 for a family of four, and increasing by US$25,000 per additional dependant irrespective of age. Its real estate option is static at US$300,000 regardless of the number of family members included, although Government fees apply, starting at US$50,000 for a single applicant. Changes to the Programme’s investment threshold are expected in 2017.

This Iberian nation requires a €1 million investment into shares of companies listed on the Portuguese stock exchange. Applicants may however prefer two alternative options: the creation of at least 10 local jobs, or the purchase of real estate worth a minimum of €500,000, be that residential, commercial, or agriculture, as long as it produces income or rent.

Antigua and Barbuda The Government of these two islands asks for a US$250,000 donation to the National Development Fund, or a US$400,000 investment into a Government-approved real estate project. A US$50,000

This Mediterranean island offers the option to invest €2 million in real estate, to be held for three years and €500,000 of which to be held indefinitely. An additional choice to invest €2.5 million is also available, as long as the applicant selects one or more of the following: government bonds, Cypriot companies, real estate, or the financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec).

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Aspiring citizens of Malta must make a €650,000 non-refundable contribution to the National Development and Social Fund, plus purchase or rent a €350,000 home on the island to be held for five years, and invest €150,000 into a Governmentapproved financial instrument – also a five-year mandatory requirement.

United Kingdom Residency can only be achieved if at least £2 million is invested into Government bonds or share or loan capital in active and trading UK-listed companies. It is possible to fast-track this process by applying for permanent residence in two or three years instead of five years, through an investment of £10 million or £5 million respectively.

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Easy as 1-2-3

There are many reasons to invest in a citizenship by investment programme in the Caribbean, but the three greatest are the nations of Dominica, St Kitts and Nevis, and Grenada. While each are amazing destinations in their own right, together they comprise six islands of opportunity; be that for pleasure, for business, or for investment. Either way the choice is as easy as 1, 2, or 3.

Dominiсa 1. Single island Dominica, known as the ‘Nature Island of the Caribbean,’ is on a growth trajectory, with its tourism and agricultural sectors expected to attract an increasing number of entrepreneurs, especially given its Ease of Doing Business ranking from the IMF, which is higher this year than any other. With infrastructure development advancing, the Commonwealth of Dominica’s doors are open for investors who are ready to pioneer within the borders of a natural paradise.

DOMINICA - SECRET BAY

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St Kitts and Nevis 2. Double-island St Kitts and Nevis is currently recording some of the best fiscal results in the world. It caters to the demands of its thriving tourism sector, which in turn continues to motivate new hotel and condominium developments – a large number of which satisfy the islands’ mandate to be our planet’s first ‘green’ country. St Kitts and Nevis have moved away from their historical dependence on sugar farming, and these two islands under one Government generate a wealth of business opportunities in tourism, construction, alternative energy, and entertainment.

Grenada

3. Tri-island Grenada includes Grenada, Petite Martinique, and Carriacou – together known as the ‘Spice’ of the Caribbean. Connected globally through international links, be that flights or business partnerships, Grenada is fast becoming known for its education, organic farming, and tourism opportunities. For investors keen to expand and have quick access to the Americas, Grenada is strategically positioned and welcoming to new ventures.

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10 Steps for Obtaining an Alternative Nationality 1.

Decide to obtain an alternative citizenship â&#x20AC;&#x201C; choose the programme that best suits your needs. Along with choosing a programme, you must also decide whether you wish to contribute to the countryâ&#x20AC;&#x2122;s government fund, or invest in the country by purchasing pre-approved real estate.

Make contact with a qualified and trusted legal advisor who will assist you with your application. In most jurisdictions, it is mandatory to submit your citizenship application through a licensed authorised agent.

Your agent will provide you with the necessary application forms and work closely with you to gather supporting documents, as required by your chosen programme. Your agent will provide expert guidance during the process. There are no language, management, or business qualification requirements to apply for citizenship. You do not need to travel to the country or attend an interview. There are no residency requirements, either before or after obtaining citizenship.

When all the necessary documentation has been obtained, your agent will ensure that the application is complete and ready for submission. The agent will represent you in the jurisdiction you choose and will submit the application on your behalf to the designated government authority.

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Once your application is submitted by the agent, the relevant government authority will acknowledge receipt of your application and begin processing. The government will authorise a third party due diligence agency to perform stringent background checks on the information provided in the application. Processing times vary between 60 and 90 days.

If the relevant government body believes that the application meets all the requirements to qualify for citizenship, it sends the application to the Prime Minister or Cabinet for review and final approval.

If your application is successful, you receive a letter informing you of the decision that your application has been approved in principle.

At this point, you must make the relevant contribution or investment in real estate by sending your funds to the government fund or real estate developerâ&#x20AC;&#x2122;s escrow account.

Congratulations! You are issued with a certificate of naturalisation indicating that you have become a citizen of your chosen country. Your agent will apply for your passport on your behalf.

10.

Receive your new, internationally-recognised passport: now you can explore the world, experience true freedom, and be safer than ever before.

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Dr the Honourable Timothy S. Harris, Prime Minister Federation of St Kitts and Nevis

WELCOM E

St Kitts & Nevis I

n order to secure our leadership in the citizenship by investment space, and to ensure even greater transparency and efficiency, the Federation of St Kitts and Nevis has introduced the new Platinum Standard. To reward the longstanding trust in our Programme, we have enhanced our oversight and operational practices, and strengthened relationships with international partners and friends. We are determined that only the best candidates and projects of the highest quality are approved under our Platinum Standard Programme. I want to assure you that my Government takes enormous pride in our Programme’s pedigree and the Citizenship by Investment Unit’s 32 years of experience. We are even more proud today that the Citizenship by Investment Unit boasts a complement of staff with more training in antimoney laundering, fraud detection, and financial crime. The upgrading of the team’s skills-set and re-orientation,

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as well as working through carefully selected, independent due diligence firms, means that the Citizenship by Investment Unit is better placed to assess the suitability of applicants and to ensure that they are thoroughly vetted. This is extremely important because St Kitts and Nevis wishes to attract only high-calibre applicants who subscribe to the ethos of our sustainable development agenda, and who understand our commitment to integrity and our desire to build a modern and globally respected nation. It should come as no surprise therefore, without sacrificing the strict due diligence performed, that we can now offer one of the world’s swiftest processing times – from 45 days for standard applications up to 60 days – including the processing of passports for premium clients.

ST KITTS AND NEVIS

THE PLATINUM STANDARD

â&#x20AC;&#x153;The vision for St Kitts and Nevis, as the pioneer of the Platinum Standard, is to ensure that we continue to build a more robust Programme rooted in integrity, transparency, and accountability.â&#x20AC;?

Additionally, our ongoing diplomatic initiatives have garnered support from key allies with whom we share a vision for a safer and more prosperous future. In particular, we continue to work tirelessly to strengthen important relationships with our European partners, the United States of America, and Canada, with whom we have been solidifying partnerships on information-sharing. It is with the understanding of such partners and allies that the Citizenship by Investment Programme can enjoy the international recognition it receives for the transparency of its procedures and the quality of its applicant pool. The vision for St Kitts and Nevis, as the pioneer of the Platinum Standard, is to ensure that we continue to build a more robust Programme rooted in integrity, transparency, and accountability. It is also based on a commitment to vigilance and refining investment options available to clients. Importantly, we have established a Technical Committee to evaluate the merit

of each real estate project, as well as its adherence to national development standards including sound engineering and aesthetic thresholds. Also, Cabinet is exploring the addition of new investment options, such as in infrastructure development, alternative energy, and entrepreneurship. St Kitts and Nevis will work even harder to maintain trust, integrity, and its leadership in the citizenship by investment arena. To achieve this, we will focus on providing the highest level of service to all those who participate in our Programme, and, with a stronger and more responsive Unit, diplomatic network, and investment offerings, we know we are fully up to the task. Sincerely, Dr the Honourable Timothy S. Harris, Prime Minister Federation of St Kitts and Nevis

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ST KITTS AND NEVIS

“Yes, I do belong. I belong to a place, where neighbours know one another by name and visitors are welcomed with warm smiles and respectful conversations.”

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H.E. Dr Kevin M. Isaac High Commissioner Federation of St Kitts and Nevis

s people, we all seek human connections. We all reach out time and again in an effort to belong. In recent times, across the world, we hear raucous debates about who should be allowed to come into our countries, how and under what circumstances they should stay and whether they can be considered one of us. Over three decades, I have had the distinct pleasure and opportunitiy to visit, study, live and work across five continents. These experiences have enriched my life and allowed me to appreciate that people want the same things â&#x20AC;&#x201C; though in different degrees. We want to be appreciated; we want to be free to explore new horizons; to meet new people and to find our own path in the world and to belong. I recall in vivid colour my life in the Caribbean twin-island Federation of St Kitts and Nevis. I still reminisce on afternoons spent after school on the seashore ingesting the smells, the breezes and the tranquillity of the sea â&#x20AC;&#x201C; interrupted only by the sound of the waves, seagulls and brown pelicans. Having repeatedly found myself in agonizing traffic jams in Europe or Asia; I do long for the ease and mobility of St Kitts and Nevis. Living amidst impersonal skyscrapers, piercing sounds of car horns, rushed feet and screeching sirens â&#x20AC;&#x201C; I crave the green lushness of trees, the bold tap dancing of raindrops on tin roofs and the unhurried calm of these islands. Yes, I do belong. I belong to a place, where neighbours know one another by name and visitors are welcomed with warm smiles and respectful conversations. I belong to a country whose reputation, carefully nurtured and protected since independence, has made it easy for me to access scores of countries that continue to create and reinforce the realisation that this world is a vastly different yet a similar and familiar place. It also reminds me that despite our differences, as a human race, we are not that different. I am especially pleased that a magazine that seeks to bring people together, to help them explore the global villages of life would take the name Belong. I hope it encourages all of us to see the world as opportunities for learning, sharing, caring and helping others. It is great to belong to St, Kitts and Nevis. I invite you to explore it and make it home. H.E. Dr Kevin M. Isaac High Commissioner Federation of St Kitts and Nevis

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ST KITTS AND NEVIS

St Kitts and Nevis – a Magnet for

Foreign Direct Investment

t Kitts and Nevis, officially known as the Federation of Saint Christopher and Nevis, is an independent nation located within the Caribbean archipelago. The Federation, with a population of 50,000 people, was under British rule until it attained independence in 1983. The twin island nation is known for its natural beauty, with sloping mountain sides, a warm tropical climate, turquoise water, and white sand beaches. More recently, the country has become a magnet for Foreign Direct Investment (FDI), primarily in the luxury real estate sector, thanks in huge part to the Government’s Citizenship by Investment Programme. The St Kitts and Nevis Citizenship by Investment Programme is the oldest economic citizenship programme in existence. Under the Programme, qualified individuals are welcome to invest in the country in either of two options, namely the Sugar Industry Diversification Foundation (SIDF) or the Real Estate Option. The SIDF option allows individuals to contribute a one-time donation of US$250,000, while the Real Estate Option requires individuals to invest a minimum of US$400,000 in a government-approved real estate project. Over the past five years the country has experienced strong investment growth in the construction of hotels, condominiums, and villas as a result of individuals purchasing property under the Real Estate Option. The benefits of St Kitts and Nevis citizenship include, but are not limited to: visa-free travel to over 130 countries, no income tax, and no capital gains tax. Mrs Dorietta Fraites, who heads the St Kitts Investment Promotion Agency (SKIPA), emphasized that the country has done remarkably well coming out of the recent global economic recession. She has indicated that economic growth has been largely driven by the construction sector. Mrs Fraites has also revealed that a number of major new investments are scheduled to come on stream in 2017. These include: the Park Hyatt – St Kitts, the 250-room Embassy Suites by Hilton, a new Radisson 308-unit condominium development, and Koi Resort and Residences, a 324-room luxury hotel. She has further stated that these investments are strong testimony to the attractiveness of St Kitts and Nevis as an ideal place to do business and to the quality of the country’s Citizenship by Investment Programme.

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To stay ahead in the market, the Government of St Kitts and Nevis has been working assiduously to improve the Citizenship by Investment Programme. Paramount to the new changes is the appointment of Mr Les Khan, CEO of the Citizenship by Investment Unit (CIU). Mr Khan brings a wealth of experience to the Programme, having worked with well-known financial institutions such as Bank of America, HSBC, National Australia Bank and Northern Trust. In addition, the CIU, under whose remit the processing of citizenship applications falls, recently introduced its revamped procedures aptly dubbed ‘Platinum Standards’ designed to improve the delivery of its services. Essentially, the ‘Platinum Standards’ introduced more efficient procedures for the processing of citizenship applications. One key feature of the new ‘Platinum Standards’ is the introduction of an online application platform, which allows citizenship applications to be filed at anytime from anywhere in the world. According to the new CEO Mr Les Khan, the CIU has changed the engagement model for closer collaboration with service providers, developers, and agents to resolve issues without compromising the integrity of the Programme, the country’s security, or that of its international partners. Mr Khan further states that, under the new ‘Platinum Standards,’ one of the most rigorous verification and vetting process has also been implemented. The results of these new changes are already visible as citizenship applications are now approved within 45 – 60 days. The St Kitts and Nevis Citizenship by Investment Programme has an excellent track record in the global marketplace for second citizenship. Nonetheless, the Government is cognizant of the need for ongoing enhancement to the Programme to meet the challenges of an increasingly competitive marketplace. The longevity of the Programme is an attestation to its quality and the newly implemented reforms will ensure that St Kitts and Nevis continues to offer one of the best citizenship by investment programmes. Stanley Jacobs Director of Investment Promotion St Kitts Investment Promotion Agency

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ST KITTS AND NEVIS

Nevis Emerging as a

‘Safe Haven for Investors’

evis is an unspoilt and relaxing tropical island, 36 square miles in size, and located in the northern part of the Eastern Caribbean. The population is some 12,000 and the official language is English. It is well established as a financial centre and an upscale tourist destination. Many visitors vacation repeatedly in Nevis to savour its lovely beaches, sunshine, tranquillity, and warm and friendly people. It has a rich history which includes the birth of Alexander Hamilton, the first secretary to the US Treasury, and the marriage of Lord Nelson, an English Admiral, to Nevisian Fanny Nisbett. With the exception of security and foreign affairs, which are the responsibility of the Federal Government of St Kitts and Nevis, Nevis has the autonomy to enact laws for its own economic development. Through the development of sound investment policies and the nurturing of an enabling environment, the island is attracting attention as a ‘safe haven for investors.’ There are many factors which account for Nevis’

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success. It has a tropical climate; a physical infrastructure which is among the best in the Caribbean; a stable political environment; the absence of personal income tax levied on citizens or residents; user-friendly and stable laws; a generous fiscal incentive package for investments; advanced telecommunication facilities; a literacy rate of 98% along with a highly trainable work force; and a favourable time zone with easy access to North America and Europe. The Federation is ranked among the top performers in respect of the United Nations Human Development Index as a result of its well-developed social and economic infrastructure and a relatively high standard of living for its people. It is the Nevisian Government’s intention to continue to capitalise on these advantages by encouraging investments in new areas as part of its economic diversification strategy. It will continue its thrust in the development of the tourism sector to remain at the forefront of the high-end luxury tourism market. An important objective is to diversify the tourism industry

by attracting investments in the areas of medical tourism and education. There is one offshore medical school on the island, and there are plans to increase the number of schools by encouraging investments in natural medicine, the natural sciences, and research facilities. Nevis is also developing its alternative energy sector, which is an important part of the Governmentâ&#x20AC;&#x2122;s strategy to become the greenest island in the Caribbean. A wind farm on the island is already generating over 2 megawatts of electricity and emphasis is now being placed on promoting investments in solar and geothermal energy. The island has also had a very active and progressive financial services sector for over 30 years. It offers financial services products such as international business companies, foundations, limited liability companies, captives and reinsurance companies, and international banking, all of which can be used for wealth management and investment purposes. Nevis

is presently working on a fiscal incentives package and marketing programme to attract additional law and accounting firms to expand the services offered by the jurisdiction. Agriculture, and particularly agro-processing, is also extremely important as the Government strives to ensure food security, health and wellness, and selfsufficiency. Consequently, Nevis is seeking to attract investment in the areas of pork production, root flour production using root crops such as cassava and sweet potato, broiler and poultry production, and aquaculture. Nevis is a very attractive jurisdiction that is investorfriendly and provides the ideal environment to conduct business.

Laurie Lawrence Permanent Secretary in the Ministry of Finance, Nevis Advisory Unit and Nevis Investment Promotion Agency

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ST KITTS AND NEVIS

“if you want to realise your entrepreneurship vision, St Kitts and Nevis is the place to help.”

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BUSINESS

Spicing Things up on St Kitts

pice Mill is a destination, it’s not one of those ‘perchance’ restaurants.

It fronts Cockleshell Beach, which owner Roger Brisbane describes as “probably one of the best beach locations anywhere in the world.” It is sited in, but not officially part of, the Christophe Harbour Development, which boasts a mega yacht marina, large private homes, and several future hotels, including the Park Hyatt that is due for completion in March 2017. It is in fact this location that lured Brisbane to venture back into the restaurant trade after a breakaway stint where he pursued interests in the film and television industry, advertising, and telecoms. “Nobody complains about the view of Nevis and Mount Nevis peak, nor about being able to hop into the water for a swim,” says Brisbane, about his restaurant’s location. FARM AND SEA TO TABLE A further benefit is the cuisine, which is a celebration of the 200-year-old culture of the island inclusive of French, Spanish, Portuguese, and Chinese influences. Spice Mill’s menu is hence described as ‘Eclectic Caribbean,’ and is all about flavour, texture, colour and fresh produce, the latter of which is sourced from neighbourhood organic farms or freshly delivered by local fishing boats. This aspect is important to Brisbane, who says that every dish on the menu has a local name and face attached to it, be that of a farmer or fisherman “who whose contribution meant, and continues to mean, so much to the success of our establishment and to the great food we serve.”

CULTURE AND CHRARISMA Aside from the food, guests also visit Spice Mill to enjoy music and art. It is this venue that Veuve Clicquot has chosen to host its annual Bubbles on the Beach festival, and the restaurant itself hosts a yearly ‘Spice Fest.’ Along with its many Local Tourism Award recognitions, Spice Mill has also been acknowledged by Trip Advisor for its excellence but, as Brisbane says: “my biggest award is the compliments from guests who tell us daily that Spice Mill offers the best experience on the island; and for some, the best in the world.” It is a venue for lunch or dinner, with dinner generally providing more of an experience for travellers, expats, collegiates, and businesspeople. And Brisbane knows exactly how to cater for all tastes. His experience spans hotel and restaurant training in Bermuda, Canada, and Maui. BUSINESS INCENTIVES The duty free concessions and capital investment assistance from the Government of St Kitts and Nevis, along with the remarkable accomplishments of Spice Mill, have inspired Brisbane, who has invested not only in a beer garden and a smokehouse, but also in an “amazing hillside two-acre property with views of Nevis,” which he intends to develop into an exclusive boutique establishment. “I dream big, and I also achieve my dreams,” says Brisbane, living proof that if you want to realise your entrepreneurship vision, St Kitts and Nevis is the place to help.

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Trending Conversations: #StKittsandNevisCitizenshipbyInvestment @SKN_CIU “@JoeFriend: @SKN_CIU

“@Jpublic: @JoeFriend @SKN_CIU

I can finally say I am a citizen of St Kitts and Nevis, possibly the most welcoming nation ever!

How did you make the investment?

How long do you have to spend there now that you are a citizen?

“@Jpublic: @JoeFriend @SKN_CIU

Congratulations my friend! How did you do that?

“@JoeFriend: @Jpublic @SKN_CIU

You can choose between donating to a foundation, or purchasing real estate. I chose the Foundation, called the SIDF, and made the required US$250,000 contribution.

“@JoeFriend: @Jpublic @SKN_CIU

“@Jpublic: @JoeFriend @SKN_CIU

Why not choose the real estate option though?

Talking about places to see, where can you travel visa-free as a citizen of St Kitts and Nevis?

You don’t actually need to visit St Kitts and Nevis at all to get citizenship, but why wouldn’t you, this place is a delight to see.

“@JoeFriend: @SKN_CIU

I applied through the Citizenship by Investment (CBI) Programme! For an administrative process, it was relatively stress-free.

“@JoeFriend: @Jpublic @SKN_CIU “@Jpublic: @JoeFriend @SKN_CIU

Stress-free? Surely gaining a second citizenship is hard, no matter where you apply in the world? “@JoeFriend: @Jpublic @SKN_CIU

Not with St Kitts and Nevis. It has the oldest CBI Programme in the world so the country has had time to perfect the application process and make it as easy as possible. No interview, no language test, and it only took 45 days from when I submitted my application.

You know me – I didn’t want the extra headache of managing a property from abroad, and I wouldn’t be allowed to sell it for at least 5 years after obtaining citizenship. Pricing is quite good though, you would need to invest US$400,000 and pay US$50,000 in Government fees.

“@JoeFriend: @Jpublic @SKN_CIU

“@Jpublic: @JoeFriend @SKN_CIU

“@JoeFriend: @Jpublic @SKN_CIU

But what if you want to visit St Kitts and Nevis, or always have a place to stay?

Only very small due diligence and passport fees. These are applicable whether you choose the real estate or SIDF route.

More than 130 destinations! And I can keep my citizenship of origin so I can now travel using two passports. “@Jpublic: @JoeFriend @SKN_CIU

What’s the catch…are there any hidden fees you haven’t told me about?

“@JoeFriend: @Jpublic @SKN_CIU “@Jpublic: @JoeFriend @SKN_CIU

Wow! Is it really as easy as just making an investment?

There are so many great hotels and villas to rent – and I bet you there will be even more now that new resorts are flocking to the islands!

“@JoeFriend: @Jpublic @SKN_CIU

Yes, but you also have to show you’ve never committed a crime and that your source of funds is clean. It really reassures me that St Kitts and Nevis has strict checks in place for applicants – I appreciate the certainty that everyone who goes through the process has been thoroughly vetted.

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“@Jpublic: @JoeFriend @SKN_CIU

I heard of the new golf courses there – wouldn’t mind getting my handicap down while also enjoying views of the Caribbean Sea.

“@Jpublic: @JoeFriend @SKN_CIU

Great, I might apply right away! “@JoeFriend: @Jpublic @SKN_CIU

Just remember you can’t apply directly to the Government, you have to use an Authorised Person. They are listed on the official St Kitts and Nevis CBI website, here: h t t p : // w w w . c i u . g o v t . k n / how-to-apply/authorised-persons/

“@JoeFriend: @Jpublic @SKN_CIU

Entrepreneurs sign deals on St Kitts and Nevis golf courses daily. It’s one of the best jurisdictions in which to start and run a business.

“@Jpublic: @JoeFriend @SKN_CIU

Email me the details of the agent you used in London!

ST KITTS AND NEVIS

TESTIMONIAL

A Second Chance in St Kitts and Nevis “It was my duty to provide every opportunity for my granddaughters’ future success.”

hen Dmitry first heard of the St Kitts and Nevis Citizenship by Investment Programme, he knew he had found a secure mechanism through which he could ensure both his future prosperity and that of his family. His only son, Alexander, had been slowly taking over the reins of their construction company, but having had their primary factory shut down by the local government, future business opportunities were limited. Dmitry soon realised that the only option was to repatriate, and find a more welcoming government that could support the family’s entrepreneurial activities. The St Kitts and Nevis Programme presented a rapid solution. After initial investigations, Dmitry made the decision to apply for single citizenship followed by a separate sponsorship for his son, daughter-in-law and their two children. In a few short weeks, Dimitry’s family could have dual citizenship. The only question in Dmitry’s mind was whether to donate a one-time sum to the Sugar Industry Diversification Foundation – the more seamless procedure – or invest in St Kitts and Nevis real estate. Although there was no requirement for Dimitry or his family to visit the islands, he travelled to St Kitts and Nevis, and what he discovered was staggering beauty: a clash of verdant forest and cobalt seas. Dotting the landscape were scenic hotels, charming apartments, and high-end resorts – perfect opportunities for investment. “I understand business, and can tell what viable attractive property looks like. I considered my son, and how I wanted him to have a new home and a place to raise my granddaughters. I thought of how they will have to face a

globalised world, where success is determined by one’s ability to move in the international arena and build enduring relations with overseas associates. I knew that the best investment in their future would be to give them the chance to live in an English-speaking nation, under the protection of a democratic Government, and with a life facilitated by the worldwide connections afforded by the Commonwealth of Nations.” Dimitry purchased two apartments for him and his son’s family. Shortly after the sale and purchase agreement was signed however, Alexander became ill and unexpectedly passed away. “I was distraught, but this cemented my belief that it was my duty to provide every opportunity for my granddaughters’ future success,” says Dimitry. “I was determined to support them, just as I had supported Alexander, so I went ahead and finalised the citizenship application. In hindsight, I could not have made a better choice.” Dmitry is now what he likes to call “a citizen of the world.” He commutes between St Kitts and Nevis, Malaysia, and Switzerland, and can travel freely to over 130 destinations, including key professional hubs such as London, Paris, and Singapore. His granddaughters attend school in St Kitts and Nevis, and will soon be entering secondary school. “The day they choose to move elsewhere, I will rent the apartments to local students, or possibly earn a good profit should I choose to sell them,” says Dmitry. “It would be very difficult, however, to give up our piece of heaven on St Kitts and Nevis – a country that has given us so much.”

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ST KITTS AND NEVIS

“In 2014, St Kitts and Nevis’ GDP experienced an upward path of 6.1 percent, and it continued to grow by 5.0 percent in 2015 – recording some of the best fiscal results in the entire Western Hemisphere.”

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ST KITTS AND NEVIS

Developing the World’s First

Sustainable Country

n advancing the economic development of the Federation of St Kitts and Nevis, the focus for the past year has been on preparing the islands for the challenges of the future, including green growth. This has been enabled by outstanding financial performance, supported by dynamic tourism and advancements in real estate. In 2014, St Kitts and Nevis’ GDP experienced an upward path of 6.1 percent, and it continued to grow by 5.0 percent in 2015 – recording some of the best fiscal results in the entire Western Hemisphere. This growth was fuelled, among other things, by the construction sector, in particular private hotels and condominium developments. In synchronistic fashion, the tourism sector is also booming, and is expected to contribute 8.4 percent of GDP by 2025. Together, these two industries have impacted positively on transport, storage, and communications. GREEN GOALS With the economy showing a robust upturn, the Government has made it a priority to realise its vision for St Kitts and Nevis to become the first fully green country in the world. In line with the world’s emphasis on climate change and energy strategy, it is taking a serious stance on independent sustainability, and is aggressively reducing its greenhouse gas emissions by targeting reductions of 22 percent and 35 percent by 2025 and 2030 respectively. The country is also taking steps towards meeting the goal of sourcing almost 100 percent of its electricity from renewable energy by 2020. The seismic conditions of the islands, being volcanic, are also being explored for their geothermal potential, which could be developed as soon as 2020 – giving more optimism to achieving a green economy. Through wind farms, such as the one currently being planned for the village of Belle Vue, and geothermal resources, new developments like the Park Hyatt and Hilton Hotels will be able to draw energy from renewable sources, and will be empowered to work with the

Government and other private sector stakeholders to promote sustainability of operations. In so doing, they will also attract the ever-growing tourism market that is focused on eco-friendly destinations. St Kitts and Nevis’ emphasis on green growth is also reflected in its Citizenship by Investment Programme. The Programme, known to offer the ‘Platinum Standard’ of investor immigration, affords applicants the opportunity to purchase real estate or to contribute to the Sugar Industry Diversification Foundation (SIDF). The SIDF is devoted to diversifying the islands’ economy away from its previous dependence on sugar, and is involved in a number of environmental projects. These include, among other things, the introduction of LED lights and solar panels to improve energy consumption. DEALS ON THE LINKS Ecological sustainability is not St Kitts and Nevis’ only goal. The Government is also determined to ensure that the islands remain job-rich and conducive environments for entrepreneurship. A key private sector opportunity is the rising demand from senior persons to retire on the twin-island nation, incentivised both by the nation’s spectacular real estate and inimitable golf courses – a draw card for those who wish to slow down their pace but remain active. There are four highly rated golf courses on the islands. Irie Fields, an 18-hole golf course designed by international Welsh player Ian Woosnam, is the first in the world to be certified under the Golf Environment Organisation’s Golf Developments Programme, which showcases globally sustainable golf projects. Irie Fields was selected because it is organically managed, using no fertilisers or pesticides for the turf, and minimising water consumption. It stands as a prime example of the islands’ attitude towards environmental sustainability. For those wanting to secure their future in a country that prioritises the wellbeing of its people, a move to St Kitts and Nevis is the answer.

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LIFESTYLE

Waters of the

Caribbean â&#x20AC;&#x153;The Caribbean is the most coveted area in the world for sailing, and, whether you are a leisure sailor or a competitor, once it is visited, it is never forgotten.â&#x20AC;?

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he Caribbean Sea has been touted as the most popular cruising and sailing area in the world, with more than 7,000 islands and islets constituting a 2,500-mile long and 160-mile wide chain. No longer a sanctuary for pirates and buccaneers, the Caribbean nonetheless still remains a strong attraction to those who love to live their life on the sea, and to discover the secret treasures of tropical islands. THE LURE OF ARCHIPELAGOS ON PRIVATE BOATERS Those who choose to explore locations by sea constantly remind land dwellers of the exclusive sites that they alone can access. This rings especially true for the many who set sail in the Caribbean, where there are many ‘special places’ that only boaters know about. Here, hidden beaches – some with bars – turquoise coves, and volcanic landforms abound. ‘By boat’ is also the only way to see the myriad chains of small uninhabited islands and the archipelagos within archipelagos that populate the Caribbean. For some, the exploration is endless. In one case a retired couple spent eight years “swinging on the hook at some of the most beautiful anchorages on Earth,” reported International Living Magazine, surviving on just US$1,000 a month by mimicking the locals in terms of sourcing food, attention to health, and other necessary services. Eight years may seem a long time to travel in one region, but when you couple the Caribbean’s natural splendour with the uncountable number of lively marinas and boatyards across the entire basin, its appeal becomes apparent. Grenada’s colourful Port Louis Marina, or St Kitts and Nevis’ Christophe Harbour, for example, feature yacht berths and trendy

restaurants, drawing celebrities from all across the world. Even if time only allows a few weeks to experience the Caribbean, sea vacationers choose to return many times. Ask any seaman about the Caribbean and you’ll be in for a long chat. You will hear about sighting tropical and unspoiled environments from a distance, or spotting small towns and their daily activities. You may be told about the quiet and calmness of the sea, only interrupted by the sound of gentle winds and water flowing. You will also be asked to envision pure freedom: the ability to disconnect from land routines and choose a destination at a moment’s whim. While many believe that yachting or boating is somewhat of an expensive and long-term, commitment, it is not necessarily so. The variety of full service marinas in the region suits any pocket right up to superyacht status. Short- and long-term mooring is available, and there remains the ability to moor just short of port and dinghy into any number of exuberant, high-class establishments whenever a break from the waves is required. ALTERNATIVE SEA EXPERIENCES If owning a boat is not viable, there are other ways to enjoy the Caribbean Sea. Hiring boats, chartering yachts, or volunteering as a crew-member are all worthwhile alternatives. There is even the possibility of traversing the sea in replicas of 19th century ships, giving passengers a sense of what it was like to be without technology and using maps where ‘an X marks the spot,’ as well as a taste of the true art of sailing – a 7,000 year-old activity. Ships and yachting contractors are creative too. There are, for example, themed cruises catering to all – the more well-liked being food, music, or books, or even golf, dancing, and religion.

SAIL, COMPETE, AND SPECTATE There is also a special breed of water babies: the racers. These are the competitors who go to the Caribbean to partake in the year-long race calendar. Such events are varied, ranging from regattas to rendezvous. All the islands have some form of race sailing, and many of those unfold over several days. The Grenada Sailing Week, which takes place annually over five days in January or February, is more of a festival – including not only boat races, but also sailing courses, which it has had to increase exponentially to accommodate the growing range of yachts attracted to the event. Dominica has recently upgraded its yacht security and yacht services training, and now serves as a model for other Caribbean islands in terms of safety. Its yachting calendar includes an annual ‘give back’ event, the Dominica Yachtie Appreciation Week, which was established “in appreciation of [yachting visitors coming] to the island and the financial contribution that they inject into the local yachting services sector.” From a yacht perspective, Dominica (along with Grenada) is acknowledged as having some of the best diving spots and whale watching opportunities in the basin. St Kitts and Nevis does not fall short of its neighbours. The St Kitts Yacht Club extends its activities to include a Youth Sailing Day, tournaments, and a national sailing week. One of its events, ‘Chase the Monkey,’ is described as a “fun pursuit race from St Kitts to Nevis,” which tests seafaring skills through various nautical challenges. The Caribbean is the most coveted area in the world for sailing, and, whether you are a leisure sailor or a competitor, once it is visited, it is never forgotten.

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Dr the Honourable Roosevelt Skerrit Prime Minister Commonwealth of Dominica

WELCOME

Dominica I

n a competitive global market, the Commonwealth of Dominica shines as a symbol of resilience and regeneration. Recent history is a testament to our ability as a united, empathetic country to overcome the challenges of economic uncertainty and environmental devastation, and to emerge stronger and more determined than ever before. Only last year, the reality of climate change was made apparent to us when our nation lost ninety percent of its GDP following the incessant rains of Tropical Storm Erika. But we rose to the occasion, and rebuilt a more formidable nation, ensuring that all social, economic, and environmental systems have the capacity to withstand the tests that may come our way. Despite Tropical Storm Erika, Dominica is on a path of growth – with economic projections for 2016 indicating that our island will be one of the Caribbean’s highestperforming nations. Dominicans have taken to heart the

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vision of a thriving country, and it is with unprecedented ethos that we have transformed our island into the beating heart of eco-tourism, a champion of green construction, and a resourceful producer of goods and provider of services. It is not by chance that the Cabrits Resort Kempinski and the Curio Collection of Hotels by Hilton have both made Dominica their home, promising sustainable development, luxurious resorts to be the envy of the Caribbean, and respect for our lush nature. Innovation and renewal are our words of the day and year, and of our future. But this exceptional island that we call home – our Dominica – is not just for Dominicans: it is for all those who wish to become part of our family. Our Citizenship by Investment Programme, welcoming of foreign nationals from across all continents and from any cultural background, speaks to our determination to share our accomplishments with the wider world.

DOMINICA

BUILDING A MORE RESILIENT DOMINICA

“This exceptional island that we call home – our Dominica – is not just for Dominicans: it is for all those who wish to become part of our family.”

With our Programme comes opportunity. For the applicant, it is the opportunity to be a part of a safe, stable community intent on investing in its people. For Dominicans, it is the opportunity to fuel the further advancement of our nation. New development agendas, such as the edification of our first 7-megawatt geothermal plant and the exploration of green energy sources are but a few of the projects that rest on the Programme’s success. Our Programme has evolved in concert with the consolidation of our economy, and we remain conscientious of the need to secure its longevity and continuing triumphs. To this end, we have embraced transparency in all aspects of Programme administration, from training in de-risking measures to strict adherence to accountability systems. Detailed

information on the use of citizenship by investment funds is regularly presented to Parliament, and made available for review by any interested party. Our policy is one of profound openness, both with our people and our allies – with the goal of guaranteeing that the Programme will be part of Dominica’s national framework for many years to come. In Dominica, we are a spirited people resolved to nurture our communities, develop strong businesses, and embrace our cultural uniqueness. With this approach, we welcome you to be a part of our success story.

Dr the Honourable Roosevelt Skerrit Prime Minister Commonwealth of Dominica

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Dominica:

The Green Energy Initiative

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The Honourable Ian Douglas Minister of Trade, Energy and Employment Commonwealth of Dominica

he Commonwealth of Dominica has emerged from the third quarter of 2016 as one of the world’s most attractive jurisdictions for investment in innovative enterprise, having committed itself to an era of green energy development and eco-friendly infrastructure, as well as sound legislature to promote investment in the private sector. A report issued in May 2016 by the Economic Commission for Latin America and the Caribbean (ECLAC) revealed that Dominica is the CARICOM member that generates the highest portion of its energy from renewable sources. To date, 28 percent of the electricity on our island is drawn from green production, and our goal is to become fully independent of non-renewable energy by 2020. Hydropower and wind turbines are key to our commitment to green energy, and geothermal exploration is at an all-time high. EC$46.3 million has been reserved for the construction of a seven-megawatt geothermal plant on our island, to be built with technical assistance from the Government of New Zealand. This initiative, due to be completed in 2018, will both reduce our energy expenditure and solidify our position as an exporter of energy in the region, particularly to our neighbours Guadeloupe and Martinique. Advancements in our renewable energy offering have been accompanied by the growth of a new eco-economy. As the ‘Nature Island of the Caribbean,’ our Commonwealth values the role of the environment in the everyday lives of its people and, in respecting nature, has for many years been the port of call for eco-tourists. Today, as awareness and concern for the environment expands to all echelons of society, Dominica is also establishing itself in the luxury eco-tourism industry. The real estate developments approved under our Citizenship by Investment Programme – each a magnificent project rooted in the principles of conservation and eco-friendliness – stand as core examples of Dominica’s robust entry into the market, and of the investment opportunities available in this budding sector. Our private sector is also flourishing – with services, manufacturing, and agriculture playing a determining role, especially with respect to organic produce and agro-processing. The Government has enacted a number of fiscal measures to support investment in these sectors, ranging from loan schemes with grace periods to the increase of VAT thresholds. The Government will also soon be implementing even more incentives, such as tax holidays for hoteliers expanding or renovating their establishments. Our Commonwealth is forward-looking, ready to seize the opportunities of today and tomorrow. The investment we have seen in Dominica today is an indicator of the confidence markets have in our growth. The investment we will see in our island tomorrow will see both the entrepreneur and the nation prosper for years to come. Sincerely, The Honourable Ian Douglas Minister of Trade, Energy and Employment Commonwealth of Dominica

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DOMINICA

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DOMINICA

Growth

is Natural T

he Commonwealth of Dominica has the vision and drive to build a strong, resilient nation. This is evidenced by the Government’s sponsorship of business and entrepreneurship, as well as its public spending. If the figures projected by analysts realise, then Dominica is just at the start of a new growth trajectory. The IMF recorded a 3.9 percent growth in 2014, and forecasts growth for both 2016 and 2017. Furthermore, the Caribbean Development Bank is confident that Dominica will be among this year’s top three performers in the Caribbean, with an anticipated growth rate of 3.9 percent. Demonstrating both economic health and optimism for the future, Dominica is therefore an attractive destination for investors. ESTABLISHING A FRAMEWORK FOR DEVELOPMENT An example of Dominica’s generous spending regime is the EC$25 million that, in August 2016, was made available to the Agricultural Industrial Development Bank for loans to farmers, hotels, and restaurant owners. Agriculture and hospitality are, not surprisingly, amid the most promising sectors of the island’s economy. 2016 also saw Government investment in infrastructure, such as in road rehabilitation works, river dredging to keep waterways operational, and wave overtopping structures designed to prevent damage from aquatic anomalies. Senator Miriam Blanchard, Minister of Public Works for the Commonwealth of Dominica, outlined that each of these projects was undertaken to mitigate risk to life and reduce poverty. Government financing is supported by Dominica’s Citizenship by Investment Programme, which attracts foreign direct investment, creates local jobs, eases the burden on taxpayers, and allows the Government to redirect funds into areas of need. The Programme is however not merely responsible for direct contributions to the economy. It has created an atmosphere of free

enterprise and private initiative. Illustrating the case for Dominica’s vigorous business environment, is the recent announcement by the Dominica Essential Oils and Spices Cooperative to expand production of new oils, such as those that can be extracted from Ylang Ylang and Geranium. Currently, the Cooperative contributes some US$6 million to Dominica’s GDP, thanks in particular to its production of bay oil. Dominica is the world’s largest supplier – at 85 percent – of bay oil. Economic growth in Dominica has come hand-in-hand with changes in legislation and policy to improve the island’s entire business framework. This has resulted in Dominica elevating its Ease of Doing Business ranking, determined by The World Bank, by six places since last year. ESCAPE TO UTOPIA While economic development may be crucial, what also remains critical to Dominica is its reputation as a spiritual refuge – for it is on this verdant, tranquil island that people come to de-stress and enjoy what only paradise can offer. Dominica has become a magnet for nature-lovers, providing escapism beyond its pristine beaches, into private reserves of lush and verdant rainforests. Ecolodges have also been respectfully constructed to create businesses that speak to the caring and nurturing side of tourism. Dominica is the ultimate utopia, with a lure that is hard to avoid, whether you wish to immerse yourself in idyllic, unspoiled beauty, or looking to invest in a prosperous, upward-aspiring nation. It is an island where risk-adverse businesspersons can find safety, and where individuals can find serenity. Being in Dominica is like being exposed to the world’s greatest secret.

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“We were helped every step of the way by the Government and continue to be. The Invest Dominica Authority has a very strong mandate to promote the island’s tourism industry, which benefits everyone.”

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BUSINESS

Eco-Lifestyle Bliss

or more and more people, an eco-lifestyle isn’t just about living in seclusion, or escaping congested cities to de-stress, it’s about living with intent. Dominica is an island where ‘living with intent’ means honouring the rich ecosystem, keeping the balance between nature and mankind, and ensuring consciousness of interdependence. While many go to Dominica simply to reconnect, be that to themselves or nature, for others it is a life-changing experience. Melissa van Assen and Cpt. Andy Key are such a couple. Having worked in the super yacht industry from their base in South Africa, they discovered Dominica 26 years ago through their global travels. It was an island that immediately spoke to their hearts, generating in them a desire to live in harmony with nature whilst continuing to pursue their passion for exceptional consumer service. BUSINESS ENSHRINED IN NATURE Banana Lama, Melissa and Andy’s home and business, is Dominica’s answer to their aspirations. An eco-lodge nestled on land that captivated them for its “fresh and unpolluted air, clean water, and arable soil,” Banana Lama is run off solar power, with water supplied from a natural spring also sustaining the lodge’s home-grown fruit and vegetables. “Andy and I decided we wanted to live off the grid and have as natural a life as possible,” says Melissa. “A healthy lifestyle and eco-living go hand-inhand, and we feel fortunate that, aside from finding our piece of paradise, we can also share it with like-minded people who visit us and value the landscape we share, including the banks of a pristine river which allows for wonderful riverside swimming and entertaining.” Banana Lama has been so successful that this year Zing Magazine voted it the number one place to stay in Dominica and such a success, says

Melissa, can be largely attributed to the Dominican people and the “ease with which we were able to build our lodge.” GOVERNMENT INITIATIVE

SUPPORT

FOR

PRIVATE

The Invest Dominica Authority is the Government agency that facilitates entrepreneurship by helping to plan and establish businesses. “After acquiring a land-holders license, we were able to construct Banana Lama,” notes Melissa. “We were helped every step of the way by the Government and continue to be. The Invest Dominica Authority has a very strong mandate to promote the island’s tourism industry, which benefits everyone.” Travel and tourism are key to Dominica’s economy, contributing 39 percent of GDP in 2015. Many come to the island precisely because of its untouched splendour, points out Melissa, who says it is no surprise that Dominica has been awarded the epithet ‘nature island of the Caribbean.’ “Dominica is very accessible despite giving the impression of being an off-the-beaten track destination. It is an environment that consists of unspoilt natural beauty, a large part of which is protected, such as the Morne Trois Pitons National Park, a UNESCO World Heritage Site.” “It also has the second largest boiling lake in the world and offers hot sulphur springs, mud baths, and waterfalls. There are also 365 rivers, which is often referred to as having a river for every day of the year.” Trends indicate that in the past decade more people have been paying attention to the preservation of ecological environments, with many choosing to live an agrarian lifestyle. For Melissa and Andy’s guests, looking after what you eat and how it is provided, as well as how you commune with nature and respect it, is the essence of Dominica. “Dominica is our home. There is no place in the world that we would rather be.” concludes Melissa.

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DOMINICA

Water Export AN INVESTMENT OPPORTUNITY IN THE COMMONWEALTH OF DOMINICA

he Commonwealth of Dominica is widely regarded as the Nature Island among the Caribbean islandstates. It is also unique in that ‘Mother Nature’ blessed the island with abundance of water. As many as 80 rivers pour out along the east and west coastlines of Dominica to the Caribbean Sea, nine of which are regarded as major rivers. The many tributaries which comprise these rivers have given rise to the expression of Dominica as the ‘Land of 365 Rivers.’ It is estimated that the average daily discharge to the sea of fresh water from the rivers and streams could be as high as 300 million gallons. Information available from recent hydro-geological surveys predicts the availability of a further 185 million gallons per day of underground water that can be drawn for bulk water export on a sustainable basis. In addition, with sixty percent (60%) forest cover, and rich volcanic soils, Dominica’s many streams contain valuable dissolved trace mineral, and are ideal sources for bottled water. World demand for water will continue to increase as population growth continues. It is projected that by 2025 approximately 3.5 billion people will be living in waterscarce countries. Global water shortage has become a reality confronting the international community. Thus, there is an emerging market for the export of fresh bulk water from water-rich countries such as Dominica to water-deficit countries in need of fresh water principally for potable use.

The fastest growing segment of the bottled water industry, spring water and vitamin flavoured water, are synonymous with Dominica’s established brand name as the ‘Nature Island of the Caribbean.’ Indeed, its eco-tourism product, its proud history of conservation of the natural environment, and its many forest reserves, national parks, and marine parks, facilitate the marketing of such products. The largest markets for bulk water export are the Middle and Far East. Sustainability of supply to these areas can be guaranteed both because of the abundance of the resource and because it can be delivered quickly. A round trip voyage from Dominica to the Middle East is only 75 days via specially built tankers. Dominica’s location provides easy access to today’s major bulk water export markets. It is located in the middle of the Eastern Caribbean Lesser Antillean chain of islands, and is therefore within close proximity to the major international shipping routes of the Atlantic Ocean, and similarly within easy reach of the Panama Canal with access to nations in the Far East. Dominica is also equidistant from the countries with the largest markets for bottled water; the United States, Mexico, and Brazil. With the main resource readily available in high volumes from both spring and surface sources, the water industry is at the centre of economic expansion. Invest Dominica www.investdominica.com

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UNTAPPED WATER RESOURCES A BOON FOR THE SAVVY INVESTOR √√ Water sources are all from forest reserves and exclusive heritage sites √√ High volumes of spring water √√ Ready access and infrastructure for bulk water export √√ Overall low operating cost in Dominica √√ Dominica has very little pollution and surface water is extremely safe for drinking √√ Easy location for settlement with a low crime rate √√ Opportunity to operate in a sector that is not saturated with other competitors √√ Generous, flexible, and tailored fiscal incentives

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Trending Conversations: #DominicaCitizenshipbyInvestment @DominicaCBIU

“JoeFriend: @DominicaCBIU

“JoeFriend: @JPublic @DominicaCBIU

How was your holiday in the Commonwealth of Dominica @ Jpublic? I saw your pictures online. Those forests and waterfalls look incredible.

I’ve heard that if you apply by yourself, a US$100,000 donation into Dominica’s Economic Diversification Fund (EDF) is all it takes. I wonder if there are other fees though?

How are you going to manage the application though, surely you’ll have to travel back and forth a lot?

“JPublic: @JoeFriend @DominicaCBIU

Unbelievably beautiful place. In fact, I decided to investigate the Citizenship by Investment (CBI) Programme while there… in just 3 months I could turn my investment into a second citizenship!

Only minor ones. You need to pay a US$7,500 due diligence fee and a US$3,000 application fee. Once you are approved, the Certificate of Naturalisation is issued for a US$750 fee, and the passport itself only costs US$300 per person.

Not at all, you can apply from abroad because there is no residence requirement, interview, or language test. You also don’t need to worry about following up on your application – you submit the application through an Authorised Agent who does everything on your behalf!

“JoeFriend: @JPublic @DominicaCBIU

What exactly does the EDF do?

Talking about being abroad, I wish I could visit you soon, but you know how long it takes me to get a visa at the embassy…

“JPublic: @JoeFriend @DominicaCBIU

“JoeFriend: @JPublic @DominicaCBIU

That makes sense. Having dual citizenship is really appealing given all the tumultuous events happening in the world right now. “JPublic: @JoeFriend @DominicaCBIU

Not just that though. I’m thinking long-term. Dominica is the place I want to call home – it has fresh air, and is full of warm-hearted people. It also has an excellent medical university, and some staggering real estate developments have just been approved for construction on the island.

“JPublic: @JoeFriend @DominicaCBIU

It helps develop the nation, such as by sponsoring infrastructure projects and promoting eco-friendly projects. The attraction of this option is knowing that you are contributing to the wellbeing of a true paradise on earth. “JoeFriend: @JPublic @DominicaCBIU

Are there any other ways to invest? “JPublic: @JoeFriend @DominicaCBIU

Yes. You can go the real estate route and invest in property worth at least US$200,000. An extra US$50,000 Government fee also applies.

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“JPublic: @JoeFriend @DominicaCBIU

One more reason to apply for citizenship of Dominica: you could travel to 115 destinations without having to wait for ages for your visa to be issued! But don’t take it all from me, learn more about the Programme on www.cbiu.gov.dm, there’s tons of information there.

DOMINICA

TESTIMONIAL

Lost and Found “Dominica’s status as a Nature Island is not a buzzword, it’s the real thing.”

ome five years ago, Jonathan Lehrer and his wife were lost on the Caribbean nation of Dominica. It turned out to be the most serendipitous journey of their life. In 2011, Jonathan Lehrer’s wife insisted on travelling with him on a business trip to Dominica, an island he had visited a number of times as an executive at a Fortune 100 company. Jonathan describes the fortuitous day that changed their lives: “We had headed south in a hired car and on realising we were lost, a local hopped into the car and showed us around. Perchance we stumbled upon an estate that probably hadn’t been tended to for a decade. That’s when we fell in love.” “Seven months later the 300-year-old coffee, sugar, and cocoa estate, called Bois Cotlette, was ours, and we were intent on it becoming our home away from home, which was in the United States.” Shortly after acquisition and restoration of the estate, the couple realised that the magnificence of Bois Cotlette had to be shared, and embarked on a journey to make it accessible to visitors and locals alike. Today, Bois Cotlette is an approved project under the Government’s Citizenship by Investment Programme, and on its way to transforming part of the 52-acre estate into luxury ‘eco’ cottages and villas. “We are fully self-sufficient, with everything needed to sustain life. Dominica’s status as a Nature Island is not a buzzword, it’s the real thing.” says Jonathan. “What’s more, services are excellent, infrastructure is good, telecommunications are easily available – and looking to be even better as fibre optics will soon become a reality – and the island’s safety and security are among the highest in the Caribbean.”

The Lehrers obtained their citizenship by contributing to the Economic Diversification Fund (EDF) in 2011, before the island offered the option to invest in real estate. Jonathan has become a bit of an ambassador and ‘knowledge fountain’ for those considering Dominica’s Citizenship by Investment Programme but unlike some, he does not measure the worth of his new homeland in per capita or dollar formulas. Instead he measures it by the happiness and the peace of mind that Dominican citizenship brings. The Lehrers applied with their four children, and their application was stress-free. Jonathan has taken the time to acquaint himself with the current processes and advises that working through an Authorised Agent is an excellent system, providing opportunities to ask questions. “And don’t be shy about it,” he notes. “Ask what you should expect, what the trials and tribulations might be, what benefits and obstacles might be faced, especially with the real estate option. Not all projects are created equal. Only a proper advisor can match objectives with the development that suits the needs of the applicant. It’s important to access the right information from those who have withstood the test of time.” Jonathan refers to his second citizenship in Dominica as enabling personal bliss. “As a Dominican citizen you will quickly find great value in understanding your second home and in being part of a world where your days can end by bathing in natural effervescent pools as we do. I cannot get over our spectacular sunsets, marine reserves, and jaw-dropping views. Dominica is my home and my future, I’ve transitioned and have never been happier.”

“Jonathan refers to his second citizenship in Dominica as enabling personal bliss”

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MOBILITY

Getting to the

Caribbean “Given the entire region’s recent surge in popularity both as a holiday and business destination, airlines are keen to intensify their flight offerings.”

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t’s never been easier to reach a Caribbean island destination. With a number of international air- and seaports, and direct flights from the Americas and Europe – specifically the United Kingdom’s Gatwick and Heathrow Airports and Germany’s Frankfurt Airport – only a short flight or boat trip links you to these idyllic paradises. Given the entire region’s recent surge in popularity both as a holiday and business destination, airlines are keen to intensify their flight offerings. Trusted airlines like American Airlines, United Airlines, and Jet Blue provide regular flights into St Kitts and Grenada, and Jet Blue recently announced five flights to Grenada from New York starting January 2017. St Kitts and Nevis will be the first Caribbean destination to benefit from the Four Seasons Hotels and Resorts private jet tours starting in March 2017. A codeshare agreement that Seaborne has with Delta Airlines means travellers can connect to Dominica and St Kitts and Nevis from San Juan, which in turn receives daily flights from busy hubs such as Atlanta’s Hartsfield–Jackson International Airport and New York’s JFK. Demand for international travel to the Caribbean has also been shaped by the Caribbean’s successful endeavours to reinforce existing diplomatic relationships and to build new alliances across the sea. China and Grenada, for instance, are working on advancing a sky bridge between the two, with Brazil another country interested in similar Caribbean island co-operation. Moving regionally around the Caribbean is easily done by air given the high number of airports, such as Puer to Rico’s S an Juan, the Dominican Republic’s Punta Cana or Las Americas, Cuba’s Havana, Jamaica’s Montego Bay, the Bahamas’ Nassau, Trinidad and Tobago’s Port of Spain, Guadeloupe’s Point-á-Pitre, Aruba’s Aruba, and Barbados’ Bridgetown. Grenada, for example, has daily connections to the island of Trinidad, a major local centre. However, for some travellers and many citizens , exploring the Caribbean is best done on water. This provides the luxury of time, as one never has to pack bags to move from berths to shore hotels, and can enjoy azure blue seas and the natural vistas of the largely volcanicallycreated islands directly from a boat deck. There are a number of large regional cruise lines that are a popular choice for enjoying a five-day plus journey in the Caribbean, with departures from major American cities. The alternatives are to island-hop through a very competent ferry system or to use a private yacht company, which affords the opportunity to choose one’s own itinerary and indulge in diving and other water sport activities.

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Dr the Right Honourable Keith Mitchell Prime Minister Grenada

WELCOM E

Grenada I

t is with great pleasure that I invite you to Grenada, our tri-island state, bordered by the cobalt waters of the Caribbean Sea.

It is with even greater pleasure that I can report on a Grenadian economy that has shown excellent economic performance and growth over the past three years. During this period, we experienced a drop in unemployment – from 40 to 29 percent; a boom in our tourism industry; and a reduction in the monthly wage bill from 70 percent of current expenditure to only 48 percent. Indeed, Grenada has witnessed the first primary surplus in over a decade, which is a tremendous achievement following the global economic crisis from which the world has recently emerged.

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We have also devised Grenada’s National Sustainable Development Plan 2030, which aims at maintaining fiscal discipline while encouraging economic diversification, empowering Grenadians, and developing competitive and sustainable businesses. The Plan also prioritises the environment and ecology – focusing particularly on climate change, as well as on the creation of a ‘caring society’ to support the youth, promote health and wellbeing, supply housing, and create a sense of social care and dedication. Grenada has achieved all of this within the framework of a positive investment climate where entrepreneurship has been fostered. We have encased new business incentives into law and have embarked on a Structural Adjustment Programme (SAP) through which we have laid a foundation for stronger growth and GDP expansion.

GRENADA

REDISCOVER GRENADA

A growing economy, bolstered by commitment to entrepreneurship

Foreign Direct Investment (FDI) on our islands has also been boosted by the passing into law of Grenada’s Citizenship by Investment Programme. Launched in 2013, the Programme has reinvigorated investment in Grenada – in particular real estate development, and through direct donations to the National Transformation Fund (NTF). The former has been particularly attractive to investors who are quickly responding to rising tourism demand for accommodation. FDI in tourism and other major growth sectors, such as organic farming and alternative energy, has also allowed us to transform Grenada’s economy into a knowledgebased one. We have seen progression in the advancement of the services sectors, including training in skills relatively new to Grenada, such as offshore financing. A major priority of our Government is the integration of Information and Communication Technology (ICT) into

service delivery, to ensure our global competitiveness and increased efficiency in our system. Finally, access to micro-financing for small businesses has allowed local entrepreneurs to concretise their creative ideas and business plans; thus broadening the scope of Grenada’s economy like never before. With a growing economy backed by a strong Governmental commitment to entrepreneurship, Grenada is the ideal location for investment and business opportunities.

Sincerely, Dr the Right Honourable Keith Mitchell Prime Minister Grenada

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GRENADA

Live, Work, Play and Explore In Grenada

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The Honourable Alexandra Otway, Minister of Citizenship by Investment Promotion Grenada

renada, our awe-inspiring nation, is thriving; exceeding even our own expectations. Our country, which we have branded as ‘Pure’ to reflect our pristine environment, continues to capture minds and spirits, and as a result we are developing new sub-brands like ‘Pure Diving;’ the ‘April 2016 Pure Grenada Music Festival;’ the ‘Pure Grenada Nutmeg Festival;’ and the tourism sector’s call to action: “Go Pure Grenada.” The ‘Pure’ concept is catching on – and we expect this to encompass our chocolate and spice products, as well as many more ‘pure everything’ goods. Pure Grenada is more than a brand however – it has changed the way we think about our nation, and it is helping us to appreciate those ordinary, everyday things we might take for granted, such as: not experiencing traffic jams, having no skyscrapers, an extremely low crime rate, and our artisanal fishermen who display their dawn catch on our sandy beaches. We also have a vibrant musical and artistic culture, which reflects the inspirational charm and beauty of our islands. Grenada’s investment climate is robust and we continue to attract successful and world-renowned investment. The Government is focused on the development of our economy and constantly strives to improve the quality of life of our citizens – if living in paradise isn’t enough. Education, which contributes 20 percent to Grenada’s GDP thanks to world-renowned St George’s University, is a rapidly growing sector and we are very proud of the top-notch education being provided. Tourism currently contributes 25 percent to our GDP and is the reason why investment in this sector has been increasing. With a wide array of hotel and other accommodation options – ranging from luxury resorts to humble bed and breakfasts – as well as a fabulous and cosmopolitan selection of restaurants, inseparable from some of the friendliest people in the Caribbean, Grenada’s unique tourism product continues to enjoy unreserved growth. There is no doubt that our tri-island state of Grenada, Carriacou, and Petite Martinique has the perfect blend of beauty, knowledge, and sublime experiences. We hold our sovereignty very dear and are happy to share it through our Citizenship by Investment Programme using some of the strongest due diligence to protect it. We look forward to a very bright future as Grenada continues to gain momentum, with new investors discovering our paradise. The Honourable Alexandra Otway Minister of Citizenship by Investment Promotion Grenada

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Pure Investment

Opportunities T

he tri-emphasis of ‘location, location, location’ used by estate agents is completely apt for Grenada as a measure of its value. This is not just because it is a tri-island state comprising Grenada, Carriacou, and Petite Martinique, or that its real estate offerings are exceptional, but that, in the greater picture regionally and logistically, the islands provide excellent opportunities for a thriving business, a second home, and a safe environment for a family.

embrace ecologically-friendly lifestyles, and local businesses, eager to entice eco-tourists. It also offers exciting new markets for those interested in financing alternative energy.

As Grenada opens up more and more, for example, by direct flights to mainland Europe, the United Kingdom, and the Americas – and forthcoming flights to China – it drives growth and promotes tourism, education, and business opportunities. Furthermore, as European economies settle into a climate of instability and slow recovery from recent market crashes, investors are looking to put their money elsewhere. Grenada is one of these alternative destinations.

STABILITY AND PURITY

A POWERFUL GROWTH ENGINE The first quarter of this year saw revenue increase by over 10 percent compared to the same period last year, giving credit to the Government’s predicted economic growth figure of 3 percent for 2016. This follows on from an actual 4.6 percent growth last year, and there are several reasons why this is so. Grenada’s real estate market and long-term rentals are on a growth curve. Its construction sector is experiencing improved turnover, particularly as Grenada’s ongoing development projects, both private and public, build momentum. Agriculture is yet another industry jumping into the teens, with 13 and 18 percent increases in the value of nutmeg and mace respectively. The imminent introduction by Grenada of geothermal-produced power has received overwhelming support both from residents, keen to

Increases in tourist arrivals for the past two years range between 13–19 percent. From the United States alone, stay-over arrivals increased by 32 percent, while the number of those who ‘cruise in’ increased by 35 percent.

Grenada’s cosmopolitanism, sophistication, and expanding economy only tell part of the story. For those who are looking for escapism, be that related to political turmoil in birth nations or just a change in lifestyle, Grenada offers security and economic prosperity, with numerous tax exemptions made available to citizens. Its stable political environment, combined with its intent to preserve the ‘pure,’ natural beauty of the islands, also offer a package that is hard to resist. Grenada’s ‘pure’ concept appeals to those who seek not just a simple way of life, but also island adventures. These include a vast array of water sports, such as sailing, kayaking, power boating, sport fishing, fly boarding, water-skiing, and snorkelling or diving. Land-dwellers can choose to hike through Grenada’s naturally lush landscapes, ranging from centuriesold plantations to rich rainforests. With more than 16 pristine volcanic or white-sand beaches, Grenada also offers outstanding recreation. Idyllic lifestyle choices are limited today, and very few nations can offer Grenada’s exciting development prospects, safety, and beauty. And this is what ultimately attracts people to Grenada – be they tourists or investors – its ‘pure’ concept, and the chance to achieve dreams and become a citizen of the world in one of the most beautiful places on the earth.

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“Grenada is full of optimistic people who love a challenge.”

BUSINESS

Truly Organic Chocolate

nce in a blue moon, you experience – and in my case, taste – something that changes the course of your life forever. My magical moment was in 2002, when a package of Grenadian chocolate was hand-delivered to my boutique chocolate store in the heart of London’s King’s Road. The look and feel of this chocolate was immediately intriguing. The bar was beautifully wrapped, and the paper sleeve showed bright cocoa pods hanging from verdant trees, with the Caribbean Sea in the background. The words ‘The Grenada Chocolate Company’ were spelled out in red. The most startling revelation, however, came with tasting the bar: it screamed quality and scrumptious luxury!

partnerships with other locals, who committed to Mott’s vision for a fully organic chocolate production business. Many farmers committed to transforming their land to be 100% organic, whilst other locals provided sail transport to make GCC chocolate the first zero-carbon chocolate to reach Europe this century. Sustainability and innovation are among the core values of the business. The GCC factory has solar panels all over its roof to ensure a clean supply of energy to its machinery. The GCC also created machines to help local production of essential ingredients for fine chocolate, such as cocoa butter. A DUPLICABLE MODEL

CHOCOLATE WITH A CONSCIENCE The story on the back of the paper sleeve was equally extraordinary: a small group of farmers and villagers had taken the raw materials they grew in their backyard – Grenadian cocoa beans – and turned them into luscious chocolate bars. Instead of just growing and selling cocoa beans, these ingenious entrepreneurs has thus created a groundbreaking value added business model. I was astounded. It was not long before I was seduced into visiting the island and introducing myself to the extraordinary visionaries behind this chocolate. I met the late Mott Green, who was one of the founders of the Grenada Chocolate Company (GCC). Mott and I embarked on a mutual mentor-mentee relationship. Mott always said that Grenada is full of optimistic people who love a challenge, and that the realisation of his chocolate factory dream would not have been possible without the support of the locals. His business venture reflected this belief. He set up the Cocoa Farmers’ Cooperative, which pays out premiums every time farmers harvest cocoa that meets strict organic certification standards. Mott also forged key

The whole venture created a real buzz on the island, and a halo effect much further afield. GCC chocolate bars have won medals from the UK and USA for their fine flavour, and the company’s other chocolate products, integrating local ingredients such almonds, rum, and guava cheese, have become famous throughout the world. Indeed, today Grenada is renowned not just for its precious spices, such as nutmeg, but for its cocoa and chocolate. Businesspeople across the globe have also looked to the GCC to replicate its economic model, which put farmers at the centre of micro-economies. I myself have invested in a cocoa farm in Grenada, and I am always on the lookout to invest in more Grenadian land that I can convert to the production of organic cocoa beans to take advantage of the huge demand for Grenadian chocolate. Chantal Coady Founder of Rococo Chocolates, London In Memory of Mott Green, founder of the Grenada Chocolate Company, Grenada

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Trending Conversations: #GrenadaCitizenshipbyInvestment @GrenadaCBI “JPublic: @JoeFriend @GrenadaCBI

“JPublic: @JoeFriend @GrenadaCBI

“SueSharp: @GrenadaCBI

Just been accepted by Grenada as a citizen through the Citizenship by Investment (CBI) Programme. Such a great opportunity to travel on a second passport to more than 120 countries. You should consider this.

So quick – we submitted our application and within 60 business days we were approved. We spoke to an International Marketing Agent, who did everything on our behalf together with an Authorised Local Agent. Applicants can’t speak to the Government directly but the agent was incredibly professional and efficient.

Just picked up on this thread @JoeFriend @JPublic. Sounds fantastic, but what if you don’t want to live there permanently or travel to and fro the whole time?

“JoeFriend: @JPublic @GrenadaCBI

I’ve heard about it. Been looking at the options. Did you invest in real estate or did you contribute to the National Transformation Fund (NTF)? “JPublic: @JoeFriend @GrenadaCBI

Cosette and I love the island lifestyle so we invested in real estate. Being just the two of us, we bought a US$350,000 property and paid a US$50,000 Government fee, but it would be the same price for you, Di, and your two girls. We need to keep the property for at least 3 years, but with the tourism boom Grenada is experiencing we’re likely to make quite a profit when we finally sell.

“JoeFriend: @JPublic @GrenadaCBI

How did you deal with the fact that Cosette doesn’t speak any English? “JPublic: @JoeFriend @GrenadaCBI

The International Marketing Agent helped us prepare all our documents, and there is no interview requirement or language test so Cosette never needed to communicate. S

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@GrenadaCBI

Sue, you don’t actually have to reside there. It is enough that you want to help strengthen the country’s economy. You are never required to even travel to the three islands – but you’d be missing out! As a resident you get business incentives, and you are given a number of opportunities to better manage your estate. “SueSharp: @JPublic @JoeFriend @GrenadaCBI

This sounds ideal for me. So, where do I find a friendly International Marketing Agent?

“JoeFriend: @JPublic @GrenadaCBI

Are there any other costs I need to be aware of?

“JoeFriend: @JPublic @GrenadaCBI

The NTF option would cost our family less, as it comes to US$200,000 for a family of four. We might opt for that. Also, even if we add Di’s 65-year-old father we would only be looking at an additional USD$25,000. What were the procedures like? How long did it take?

“JPublic: @JoeFriend @SueSharp

“JPublic: @JoeFriend @GrenadaCBI

There are application fees, amounting to US$1,500 per person, processing fees, which are also US$1,500 per person, but which drop to US$500 for anyone under 18, and due diligence fees. These are US$5,000 per adult or US$2,000 per person aged 12-17. Your girls wouldn’t need to pay a due diligence fee because they are too young!

“JPublic: @JoeFriend @SueSharp @GrenadaCBI

All the information you need is on www.cbi.gov.gd, the official Government website for the Programme. That’s where I found my agent! Good luck!

GRENADA

One Citizenship, Two Opportunities GRENADIAN CITIZENSHIP CAN LEAD TO OPPORTUNITIES IN THE USA Two popular investor immigration routes into the United States are the E-2 Visa and the EB-5 Visa programmes. The E-2 Visa is reserved for citizens of countries with which the United States maintains a treaty of commerce and navigation. Grenada is one such treaty country,

The EB-5 Visa is available to applicants across the globe, but is subject to quotas that can create backlogs. The large majority of EB-5 petitions are filed by Chinese nationals, who currently must wait several years before they receive their visa.

Comparing the E-2 and EB-5 Visas EXCLUSIVITY

RESIDENCE RIGHTS

CAPITAL INVESTMENT

MINIMUM JOB CREATION

INVESTOR PARTICIPATION

FAMILY

INTENT

E-2 Visa

EB-5 Visa

The E-2 Visa is only available to citizens of treaty countries.

All nationalities can apply but there are limited spaces available.

The applicant receives a non-immigrant visa that can be renewed indefinitely every two years. This is not a Green Card and does not lead to a Green Card. The applicant is not a ‘US person’ for purposes of the IRS, and thus does not trigger worldwide asset taxation.

The applicant receives conditional permanent residence (i.e. a ‘Green Card’) for the first two years, and full permanent residence after that if the applicant can show fulfilment of all requirements. As a permanent resident, the applicant is a ‘US person’ in the eyes of the IRS, thus triggering worldwide asset taxation.

Non-specified, but it must be substantial. Experts currently estimate a US$100,000 requirement. 50% of the business must be owned by nationals of the applicant’s treaty country.

US$500,000 if the investment is made in a Targeted Employment Area (a rural area or an area of high unemployment), or US$1,000,000.

There is no minimum threshold. However, the business must not be marginal (i.e. it must support more than just the applicant and the applicant’s family).

10 jobs within two years of setting up the business. Indirect or induced jobs may only be counted if the applicant invested in a Targeted Employment Area.

The investor must participate actively in the day-to-day activities of the business.

The investor need only show a policy-making role. An investment in a Targeted Employment Area may be completely passive.

An applicant’s spouse and children under the age of 21 may be included in the application. The spouse must obtain a work permit in order to work, and the children may only study.

An applicant’s spouse and children under the age of 21 may be included in the application. The spouse and children may both work in the United States.

The investor must not intend to remain in the United States permanently.

The investor must intend to remain in the United States permanently.

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St George’s University The School in the Sun

rom an educational perspective, the Caribbean is home to world-class institutions, particularly in the fields of medicine, veterinary medicine, and business. Not least of these is St George’s University (‘SGU’), renowned for its 35 years of specialist higher learning history on the island of Grenada. Since 1976, St George’s University has been a magnet for students from around the world – creating a multicultural environment and producing more than 15,000 graduates. Among these are physicians, veterinarians, scientists, public health practitioners, and business professionals who have qualified through the university’s many graduate and undergraduate programmes. A GATE TO AN INTERNATIONAL CAREER One of the major advantages of attending St George’s is that its international affiliations include the United States, United Kingdom, Canada, Australia, and Ireland. By virtue of these affiliations, for example, medical students can do their rotations in hospitals and clinical centres abroad, and need not remain in Grenada to complete their practical experience requirements. International recognition of the University translates in the ability of its graduates to work overseas. For instance, in the past, SGU medical students have practiced their craft in 46 countries worldwide. COLLABORATION WITH GRENADA Often referred to as the ‘school in the sun,’ SGU is Grenada’s pride, epitomising the nation’s outstanding education system. The University is also treasured for its ability to generate local jobs, creating a favourable impact on the economy and the country’s development prospects.

SGU plays an active role in the community, providing Grenadians with access to healthcare, sometimes through free clinics, and funding numerous charitable projects and public endeavours. For example, SGU hosts The Windward Islands Research and Education Foundation (WINDREF), whose mandate is to promote “health, well-being and sustainable development through multi-disciplinary research, education, and community programmes.” As a non-profit organisation, WINDREF regularly receives funding from a vast array of global entities to undertake research that is crucial to understanding medical issues that continue to affect society. Finally, SGU is dedicated to ensuring the personal future of Grenadians, and to this end offers a generous scholarship programme. Over the years since its inception, the programme has awarded scholarships to more than 1,000 Grenadian students. AN INCLUSIVE CAMPUS, REFLECTIVE OF THE NATION Grenada is a nation known for its welcoming, warmhearted people. This is echoed in SGU’s diverse student population, encompassing nationals from the United States, Canada, India, the United Kingdom, South Korea, a number of African nations, and many more. Students are attracted to the calibre of SGU lecturers, numbering well over 200 on the island alone, and enhanced by a large number of inspiring visiting scholars. They also look to SGU’s more than 50 student-sponsored organisations, which cater to a broad range of interests, be they sport, spiritual endeavours, or events dedicated to the preservation of Grenada’s pure natural habitat. Outside of the campus, students can fully embrace the island lifestyle of the nation. Hosting one of the most successful universities in the Caribbean, Grenada is one of the most desirable destinations for a quality education and for investment into the future of our world.

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GLOBAL CITIES

The capitals of the Caribbean and Europe all have distinctive qualities and attributes that identify them as highly valuable and desirable destinations.

The

Capitals 60

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apital cities have a unique significance to their nations. Many are the power bases, hosting government buildings and generally attracting the largest number of visitors, be that for tourism or economic reasons. The capitals of the Caribbean and Europe all have distinctive qualities and attributes that identify them as highly valuable and desirable destinations. For those considering second citizenship, the most likely starting point or influencer in the choice of a new homeland is a capital city, because it generally reflects the soul of a nation. Grenada: St George’s Nestled on the lower slopes of an old volcano crater, and with a horseshoe coastline that hosts a harbourage, St George’s is a dynamic port-city known for its spice trade. This capital city is considered one of the most picturesque in the Caribbean, decorated by bougainvillea and hibiscus foliage. Its rich French and British colonial history is reflected in its street names and buildings, including Fort George, a stronghold dating to the early 18th century. Popular activities include snorkelling around shipwrecks. St George’s is also a short drive from the world’s first Underwater Sculpture Museum and Grande Anse Beach, a 3-km long stretch of white sand located in the parish of St George’s.

of St Kitts and Nevis, and a busy ferry service connects it with Charlestown, the capital of Nevis island. Saint Lucia: Castries Overlooking the Caribbean Sea from the northwest coast of the island of Saint Lucia, Castries is a bustling port and popular shopping centre for fresh produce and local handicrafts. Its French and British inhabitants saw its value as a major naval port, resulting in the erection, in the 19th century, of fortifications on Morne Fortune mountain. Covering a total of 31 square miles on the western coast, its cruise and harbour ship docks at Pointe Seraphine are some of the busiest in the Caribbean. Malta: Valletta This capital city, a UNESCO World Heritage site presenting 16th century Baroque architecture, is a major attraction for tourists, largely for its history as the headquarters of the Knights Hospitaller, today known as the Order of Malta. Its safe fortifications inspired confidence in the city that today, despite being the smallest capital in the European Union, is a major commercial and financial hub. Its museums, art, and culture provide visitors with myriad opportunities to engage with the past.

Dominica: Roseau

Cyprus: Nicosia

Sited on the west coast of the island and strategically positioned on the eponymous Roseau River, Dominica’s capital Roseau is the island’s oldest urban settlement. The city has strong French and British influences, the latter having motivated the planting of one of the Caribbean’s largest botanical gardens. Roseau, a quiet city in the evening, comes alive with the sound of reggae music and bustling traders by day. It is well known for its old market, where fresh fruits, rum, and other local specialties are the order of the day.

Occupied since the Bronze Age, more than 4,500 years ago, Nicosia has Roman, Byzantine, British, Greek, and Ottoman influences, which provides an eclectic mix of cultures, architecture, and archaeological finds. Historical buildings and monuments within the walled old city are dotted in a labyrinth of narrow streets that also host a large number of traditional restaurants, café society venues, and tourist hotspots.

St Kitts and Nevis: Basseterre Founded in the first half of the 17th century, Basseterre is steeped in history, reflected in the many period landmarks, such as the Cathedral of St George, that survive to this day. This capital is a bustling port, ideally located lee of winds, and further protected by tropical hills and the Olivees and Conaree-Morne mountains. Basseterre is the seat of the Federal Government

United Kingdom: London London is likely to be the most visited capital city in Europe. Founded by the Romans in the first century A.D., its historical and modern elements are an attraction for tourism and business. As host to four UNESCO World Heritage Sites, the capital of a 19th and 20th century empire, and one of the world’s key drivers of innovation, London is a city that is constantly evolving, and that continues to attract a vibrant blend of global citizens.

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HOW TO APPLY FOR CITIZENSHIP BY INVESTMENT IN

Dominica Contribution to the Economic Diversification Fund A ONE-OFF CONTRIBUTION TO DOMINICAâ&#x20AC;&#x2122;S GOVERNMENT FUND

under this option are utilised for public and private sector projects where a need is identified. The minimum required contribution under this option varies in accordance with the number of dependants that the main applicant submits along with his or her own application. Please see the schedule of fees below for details.

The Economic Diversification Fund (EDF) was established as a means of developing and strengthening Dominica through the diversification of its economy. Funds generated by the Citizenship by Investment Programme

EDF $

200,000

Required Contribution Amount

for family of four

100,000

175,000

200,000

50,000 for each additional dependant

Processing Fee

3,000

per application

7,500 Due Diligence Fee

7,500

main applicant

7,500 spouse

110,500

Total

193,000

7,500

main applicant

7,500

spouse

4,000

per dependant aged 16 or over

218,000

268,000

Children in this schedule of fees are all aged under 16. Other fees payable include professional fees, certificate of naturalisation fees, and passport fees where applicable. Fees are subject to change.

The EDF option remains the fastest route to obtaining citizenship of Dominica. SEE THE GOVERNMENT WEBSITE FOR MORE INFORMATION: WWW.CBIU.GOV.DM

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1. Contribute to the Economic

To obtain citizenship of Dominica through the Citizenship by Investment Programme, you can either:

Diversification Fund (EDF) or; Invest in real estate

Investment in Real Estate The Government recently introduced an option to invest in real estate to qualify for citizenship. An applicant must purchase approved real estate for a minimum value of

US$200,000. The real estate must be held for 3 years and for further two years should be the new buyer be can applicant under citizenship by investment programme.

Real Estate $

Minimum Required Investment Processing Fee

200,000

3,000

per application

7,500 Due Dilligence Fee

7,500

main applicant

7,500 spouse

50,000 Government Fee

50,000

200,000

3,000

per application

7,500

main applicant

7,500

spouse

4,000

per dependant aged 16 and over

main applicant

75,000

25,000

for family of 4, including main applicant

spouse

Total

260,500

293,000

200,000

100,000 for family up to 6 persons, including the main applicant

293,000

318,000

Children in this schedule of fees are all aged under 16. Other fees payable include professional fees, certificate of naturalisation fees, passport fees, and property purchase fees where applicable. An additional Government fee is applicable where a dependant aged between 18-25 or aged 65 and over is included in an application. Fees are subject to change.

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HOW TO APPLY FOR CITIZENSHIP BY INVESTMENT IN

Grenada Contribution to the National Transformation Fund The National Transformation Fund (NTF) was established in 2013 as one of the options for obtaining citizenship of Grenada. The NTF raises capital to assist the Government in financing projects to benefit Grenadaâ&#x20AC;&#x2122;s growing

economy. Applicants are required to make a nonrefundable contribution to the NTF of at least US$200,000. Below is a schedule of fees applicable under this option.

NTF $

Required Contribution Amount

200,000

Application & Processing Fee

Due Diligence Fee

3,000

5,000

208,000

Total

200,000 plus 25,000

200,000

3,000

per person aged 18 and over

5,000 per person aged 18 and over

216,000

per additional dependant after third dependant

2,000

per dependant aged 0-17

5,000

per person aged 18 and over

2,000

per dependant aged 12-17

220,000

247,000

Children in this schedule of fees are all aged under 12. Other fees payable include professional fees, and passport fees where applicable. Fees are subject to change.

The NTF option provides the applicant with a safe and trusted route to citizenship of Grenada. SEE THE GOVERNMENT WEBSITE FOR MORE INFORMATION: WWW.CBI.GOV.GD

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1. Contribute to the National

To obtain citizenship of Grenada through the Citizenship by Investment Programme, the applicant can either:

Transformation Fund (NTF) or; Invest in real estate

Investment in Real Estate

Whilst the Government approves a number of property developments to qualify as part of the Programme, it is the sole responsibility of the applicant to ensure that the property is worth the investment amount he or she intends to invest. We recommend that an applicant undertakes an independent valuation of the property he or she intends to purchase.

An applicant must purchase real estate for a minimum value of US$350,000. The real estate may not be disposed of for the 3 years following the grant of citizenship.

Real Estate Minimum Required Investment

Application & Processing Fee

Due Diligence Fee

Government Fee

Total

350,000

3,000

5,000

350,000

3,000

per person aged 18 and over

5,000 per person aged 18 and over

350,000

2,000

per dependant aged 0-17

5,000

per person aged 18 and over

2,000

per dependant aged 12-17

50,000 plus 25,000

50,000

408,000

416,000

420,000

per additional dependant after third dependant

447,000

Children in this schedule of fees are all aged under 12. Other fees payable include professional fees, passport fees, and property purchase fees where applicable. Fees are subject to change.

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HOW TO APPLY FOR CITIZENSHIP BY INVESTMENT IN

St Kitts and Nevis Contribution to the SIDF The Sugar Industry Diversification Foundation (SIDF) is a charitable organisation that was established in 2006 with the primary purpose of assisting the country to transition from an economy dependent on sugar production, to one

that is divertified and fuelled by various growth engines. The Foundation has been designated as an approved project, solely for the purpose of citizenship by investment. Below is a schedule of fees applicable under this option:

SIDF $

Required Contribution Amount

250,000

Due Diligence Fee

7,500

257,500

Total

300,000

350,000

7,500

main applicant

4,000

per dependant aged 16 and over

311,500

361,500

Children in this schedule of fees are all aged under 16 * Other fees payable include professional fees, and passport fees where applicable. An additional Government fee of US$50,000 is applicable where a dependant aged between 18-25 or aged 65 and over is included in an application. Fees are subject to change.

The SIDF option is the fastest and most straightforward route to obtaining citizenship of St Kitts and Nevis. SEE THE GOVERNMENT WEBSITE FOR MORE INFORMATION: WW W.CIU.GOV.KN

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1. Contribution to the Sugar Industry

There are two options that qualify an investor under the Programme:

Diversification Foundation (SIDF) or; Investment in real estate

Investment in Real Estate To qualify for citizenship under the real estate option, applicants must invest in Government-approved real estate developments with a value of at least US$400,000. This Government-approved real estate includes hotel developments and residential properties located on either island, such as luxury villas and condominium units.

home, and possibly receiving a return on their investment. Real estate may be re-sold after five years. Whilst the Government approves a number of property developments to qualify as part of the Programme, it is the sole responsibility of the applicant to ensure that the property is worth the investment amount he or she intends to invest. We recommend that an applicant undertakes an independent valuation of the property he or she intends to purchase.

By investing in property, the applicant may enjoy the added benefits of having a second home or holiday

Real Estate $

Minimum Required Investment

Due Diligence Fee

Government Fee

Total

400,000

7,500

50,000

457,500

400,000

7,500

main applicant

4,000

per dependant aged 16 and over

50,000

main applicant

25,000

per dependant

486,500

536,500

561,500

Children in this schedule of fees are all aged under 16 * Other fees payable include professional fees, passport fees, and property purchase fees where applicable. Fees are subject to change. An additional Government fee of US$50,000 is applicable where a dependant aged between 1825 or aged 65 and over is included in an application.

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