INTRODUCING THE OLDEST AND MOST TRUSTED CITIZENSHIP BY INVESTMENT PROGRAMMES IN THE WORLD
Invest in a Brighter Tomorrow
INVEST IN DUAL CITIZENSHIP
Sustainability: MAP THE FUTURE
Issue 6 WWW.TRULYBELONG.COM
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A
Editor’s note
s I sit down to write this note to you, the words of Alphaville’s song Forever Young drift into my mind. “Hoping for the best, but expecting the worst; are you gonna drop the bomb or not?” asks the lead singer.
The song was written during the Cold War – a time when fear and uncertainty found a home at the back of all our minds. I remember as a young woman being concerned about my future, not knowing what political changes might affect my life and the lives of many others around the world. Whether today or 25 years ago, the world remains unpredictable, driven by the political and environmental changes that shape our lives. More so than ever before however, interconnectivity and globalisation have given these changes an added impetus. Decisions made by leaders in other countries may – and do – have a direct impact on the rest of us. The 2017 G20 Summit, recently held in Hamburg, caused anxiety among us global citizens, as the leaders of the day discussed the most crucial issues of our time: climate change, trade, migration, and globalisation. And it may seem to many, after the United States announced it would pull out of the Paris Agreement, the Brexit vote, and the relentless flow of refugees from the Middle East, that discussions ran in the context of one of the darkest and most uncertain times in our recent history. Yet 2017 has also been a year of positive change, and the G20 Summit reflected this. 19 of the G20 nations, including the joint European Union, reiterated their commitment to the Paris Agreement. France rejected isolationism, bringing new life to the European Union’s ideals of integration and interconnectedness. Conflict continues, causing many to flee their countries of birth, but it is far less widespread than it was when our parents, grandparents, and great-grandparents were alive. It is on our shoulders to ensure that we leave our children with a world that is better than the one we inherited. The difficulties we encounter along the way are simply obstacles for which we must find the flexibility and mental dexterity to circumvent, with a view to achieving the long-term goal of protecting our planet and enabling coming generations – and ourselves – to live life at its fullest. Citizenship by investment plays no small part in this. Not only is it a tool whereby applicants and their families can work towards a safe and happy future, but it is a system that supports sustainability and forward-looking designs. I therefore invite you to look at citizenship by investment both from a personal perspective and from a global one. What can we do to make this world a better, more certain place? One answer is to support those Governments that are steadfast in their dedication to this planet. Micha-Rose Emmett Editor (Micha-Rose Emmett is the Group CEO for the international legal consulting firm, CS Global Partners)
CONTENTS 07
When the Climate Changes
TRAVEL
GRENADA
08
Sustainability: Map the Future
34
50
10
What Does Sustainability Mean in the Caribbean?
Welcome from the Prime Minister
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16
[Re]thinking Climate Change
Tri-Investment for the Caribbean’s Tri-Island Nation
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The Three Pillars of Second Citizenship
19
Citizenship: A Journey Through Time
20
As Easy as 1-2-3
22
10 Steps for Obtaining an Alternative Nationality
ST KITTS & NEVIS 24
Welcome from the Prime Minister
26
The Greenest Place on Earth
28
The Harmony of Unity
30
Trending Conversations
32
The Path to St Kitts and Nevis
Citizens of the World
DOMINICA 36
Welcome from the Prime Minister
38
A Destination with Value
40
In the Garden of Eden
42
Trending Conversations
44
The Path to the Nature Island
54
Investing in Your Family
56
Trending Conversations
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The Path to the Spice Isle
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Due Diligence: The Bedrock of Citizenship by Investment
LIFESTYLE & MOBILITY
FEE SCHEDULES
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Freedom of Movement
62
Dominica
48
In Search of Quality Living
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Grenada
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St Kitts and Nevis
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SPECIAL FEATURE
When the Climate Changes C
limate change evokes thoughts of weather and the environment, as well as pivotal moments such as the signing of the Paris Agreement to reduce greenhouse gas emissions and encourage resilience.
However, climate changes are not just environmental – they can be political too. The election of Donald Trump to the US Presidency, for example, engendered transformation both at home and abroad, altering the country’s approach to defence spending, trade, and immigration – to name but a few. Even more interesting however, is when changes that seem political have an effect on the environment, bringing together both these definitions of climate change into one. Mr Trump’s recent decision to withdraw from the Paris Agreement, the coalescing of China and Europe to support it, and the possibility of renegotiation are all diplomatic events that have the potential to revolutionise the world’s ecological direction. When the climate changes, environmentally, politically, or both, one thing rings true: change is a reality of current times. Nothing is static and nothing stays the same; change has consequences. For some, change is unwelcome; for others, it is exciting. In either case, whether to escape change or embrace it, people look for alternatives and opportunities to modify their world. Recent climate change, in all its forms, has inspired people to turn to the Caribbean as a source of encouragement. From an environmental perspective, the islands of Dominica, Grenada, and St Kitts and Nevis have been at the forefront of green energy and conservationist initiatives, enhancing the natural environments these countries honour and protect. From a political perspective, these nations offer stability and security to those who are anxious about social, institutional, and administrative adjustments. The Citizenship by Investment programmes offered by these islands present the opportunity to respond positively to the change people witness, and to prompt further, more progressive shifts. May it be the best step a person can take towards becoming flexible and adaptable: an international individual, and a citizen of the world.
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COVER FEATURE
Sustainability: Map the Future
T
he 194 signatories to the Paris Agreement, now with the exception of the United States, are committed to limiting global temperatures and greenhouse emissions, as well as to climate-resilience development. Despite their overall low carbon emissions, Dominica, Grenada, and St Kitts and Nevis all ascribed to the Agreement on the day it was first opened for signature, coming together to build a sustainable future for Earth. Improving the environment provides every person with an opportunity to become a citizen of the world, as climate affects all of humanity irrespective of national borders. Promoting sustainability, and engaging in practices that minimise environmental harm (such as observing proper methods of water usage and waste disposal), are a means of bringing us closer to global citizenship, and of building a value-based world community.
An analogy can be drawn to the story of the boy and the starfish. A man walking on a beach is puzzled by a young boy who is throwing starfish into the sea. These starfish, having been washed up and exposed to the sun, would eventually die if left on the shore. The sheer thousands of stranded starfish cause the man to suggest to the boy that he won’t be making much of a difference with his individual effort. The boy’s answer is to throw yet another starfish into the depths of the sea and to say: “It made a difference to that one.” The success of climate change projects requires the buy-in of those who can motivate positive change through their daily behaviour and routines. It also depends on governments supporting and encouraging the adoption of climate change practices, particularly in small countries where one adverse natural effect could have serious consequences for the entire economy of the nation. A tried and tested solution for nations that have suitable natural resources is to introduce geothermal, solar, and wind production. GEOTHERMAL ENERGY Forward-thinking nations look to their natural resources, particularly those that regenerate. Geothermal energy
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is one of the cleanest providers of electricity, being derived from heat stored in the earth, but causing far fewer harmful emissions than fossil fuels. Kenya is one of the world’s most active countries in geothermal production, having opened the world’s largest geothermal plant in 2015. It accounts for around 20 percent of the nation’s power capacity. The geothermal boom has also taken hold of the Caribbean. In Grenada, geothermal exploration has confirmed a reservoir of up to 8 km2 with the potential to generate some 20 megawatts of power. Similarly, with the inauguration of a geothermal power plant on the island of Nevis in December 2017, the Federation of St Kitts and Nevis will soon become a regional provider of green power. In the meantime, the dual-island Government has committed to completing its wind farm project Maddens, which has already alleviated the cost of purchasing, transporting, and storing fossil fuels. WIND POWER Last year Dominica was hailed as the leader in the Caribbean’s race to use renewable sources of energy. At least 28 percent of its electricity generation is from hydroand wind-power. In aspiring to be energy self-sufficient by 2020, the island is also pursuing investments in geothermal and solar-generated power. The enormous potential of wind power has largely been demonstrated by the People’s Republic of China, which has the greatest number of wind farms in the world and the largest: Gansu Wind Farm. China alone accounts for over 30 percent of the world’s production of wind energy.
SOLAR ENERGY Germany and China top the list of solar power capacity production, followed by Japan, the United States, and Italy. However, as solar farms require ample space, countries are exploring novel approaches to solar energy generation. In 2013, for example, St Kitts and Nevis developed an initiative to install solar street lamps, proving that even a little effort can make a difference. Today’s citizens of the world are often attracted to these types of projects, realising the “butterfly effect” of positive initiatives. They understand that the world is not the sum of their footprint alone. A small action can have a profound impact; becoming a citizen of the world implies a call to action and a commitment to creating a more sustainable future.
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SPECIAL FEATURE
What Does Sustainability Mean in the Caribbean?
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In Dominica Sustainability is about more than just the environment, and Dominica is a case in point. The country, known as the Nature Isle, practically addresses issues like environmental conservation by establishing natural reserves. Moreover Domonica looks at how interconnected and interdependent we are, and protects that interconnectivity for the future. Dominica is a strong commemorator of World Meteorological Day, an observer of World Tsunami Awareness Day, and a celebrator of numerous other global campaigns like World Water Day and World Humanitarian Day. It ascribes to the principle that, when we all come together to defend common causes, success is a much greater certainty. At home, Dominica is connecting diverse people thanks to the growing popularity of eco-tourism, something that it can cater to perfection thanks to its longstanding commitment to safeguarding nature. Forest reserves and national parks constitute around 20 percent of the island’s landmass, and there are multiple initiatives to support biodiversity and Dominica’s unique flora and fauna. ETHICAL DESTINATION Dominica featured in both the 2016 and 2017 World’s Ten Best Ethical Destinations, a report compiled by Ethical Traveller, which reviews the policies and practices of more than 100 developing nations. The report concerns itself with human rights and social welfare as well as environmental protection. Among other things, the report noted that Dominica is a regional leader in renewable energy usage – currently covering 28 percent of its total electricity bill. Contributing factors include the production of hydropower and chemical-free, traditional agriculture. The nation’s objective to become energy self-reliant by 2020 is however just one aspect of its sustainability
mandate: it is implementing policies and guidelines to address climate change resilient technology, protect its residents from natural disasters, and prepare the island for weather changes. The small things are not forgotten in Dominica, making it not just a great great island of plentiful nature, but one that is proud to engage its visitors in sustainable practices. Engine-free rowboats must be used, for example, to traverse the fragile Indian River ecosystem where Pirates of the Caribbean was filmed. Tourists are treated to natural sulphur spas, cooking lessons using the herbs, root crops, and vegetables grown on the island, and even a fishing experience that centres upon capturing the lionfish, an invasive creature. MARINE AND COASTAL PROTECTION Marine life is important to Dominica because it provides opportunities for visitors to interact with rare species such as sea turtles and whales. For its part, Dominica is important to these sea-dwellers because its steep topography and 148 km coastline offer protection and a year-round home. Dominica is the perfect environment for great mammal breeding and calving. Unsurprisingly, Dominica is a strong opponent of the whaling industry and has been heralded for its dedicated approach to whale conservation – a topic so pressing that it has been included as a compulsory subject within the national primary school curriculum. The Anchorage Marine Mammal Interpretation Centre, focusing on the life of these cetaceans, has become a popular site on the island and gives visitors the opportunity to view the mounted skeleton of a sperm whale. If ever there was a role model for island sustainability, then Dominica is it: an authentic destination capable of revolutionising how you look at nature and how you live your life. It may just inspire you to stay forever.
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In St Kitts and Nevis St Kitts and Nevis’ path to sustainability has long been marked by the pursuit of climate change adaption and environmental quality. This process is most evident in its use and development of land. LAND: RESPONDING TO CLIMATE CHANGE In 2015, the Government unveiled the Climate Change and Sustainable Land Management (SLM) Project, to be carried out with assistance from the Organisation of Eastern Caribbean States (OECS) and the European Union. Along with the other eight OECS member states, St Kitts and Nevis then pledged to build a “natural resource base resilience to the impacts of climate change.” As a small island developing state, St Kitts and Nevis does little to spur climate change, but is among those most vulnerable to its effects. Natural disasters like hurricanes and floods have pronounced impacts on islands, which are disadvantaged by their size, geographical location, and economies of scale. This is why St Kitts and Nevis has integrated natural disaster prevention and climate change management into its national growth strategy. The Climate Change and SLM Project is a regional effort that has required international cooperation and aligned thinking. In St Kitts and Nevis, this has meant adopting new legal and regulatory frameworks for land management, compliance with new and improved building codes, coastal construction baselines, and ecological buffers. Climate action in St Kitts and Nevis is therefore visible in every new build. The Project also involves locally-led efforts and the buy-in of all citizens. For example, where sugar cane once protected land from erosion, locals
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must now actively partake in mitigation efforts and ensure they understand the value of vegetation, natural decomposition, and proper methods of clearing. LAND: PROTECTING NATURE’S GIFTS It is not just climate change that drives St Kitts and Nevis’ sustainability efforts: it is also the nation’s close connection to, and respect for, its verdant environment. The Federation boasts four national parks and two marine parks, as well as a marine and wildlife reserve and a bird sanctuary. Biodiversity is also protected through the assistance of international partners, such as the OECS, which, in 2005, elected St Kitts’ Central Forest Reserve to its OECS Protected Areas and Associated Livelihoods (OPAAL) Project. In 2015, St Kitts and Nevis joined forces with the United Nations Development Programme (UNDP) and the Global Environment Fund (GEF) to inaugurate the Conserving Biodiversity and Reducing Habitat Degradation in Protected Areas and their Areas of Influence Project – another initiative to protect the Federation’s rich ecosystem. St Kitts and Nevis’ commitment to sustainability has transferred into the strengthening of institutional and regulatory frameworks to ensure that climate change and environmental protection efforts are long-lasting and effective.
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In Grenada Having been voted one of the best diving destinations in the Caribbean, the host to one of National Geographic’s Top 25 Wonders of the World (the Underwater Sculpture Park), and the site of one of the world’s most active undersea volcanos (Kick Em Jenny), it comes as no surprise that Grenada would be the first country to initiate the development of a Blue Economy. The Blue Grenada Masterplan focuses on marine and coastal sustainability across the tri-island state, and is expected to attract investment opportunities worth US$1 billion – around 200 percent of the country’s GDP. Nine existing ‘blue economic activities’ will be bolstered under the plan, including marine tourism, leisure, services, businesses, fisheries, shipping, research, energy and environment, housing, and exploration. The potential is there to position Grenada as a pioneer in blue innovation, reinforced by the nation’s plan to develop a Global Blue Innovation Institute. BLUE TOURISM Leisure activities such as surfing, business activities such as boat chartering, and exploration activities such as marine extraction, will all be placed in the spotlight. Ultimately however, it is tourism that will receive the biggest ‘blue boost.’ Grenada’s strategic location, close to the Americas and with direct access to some of today’s most bustling metropoles, makes it a top choice for the industrious businessman looking for a getaway. Its socio-political stability, good
infrastructure, and air facilities only add to its attraction, and, as it commits more and more to its unspoiled landscapes, clear ocean water, heritage villages and harbours, and private and mega-yacht facilities, Grenada’s tourism industry is expected to break records. It is again tourism that will profit from the development of new full-service marinas on Petite Martinique and Carriacou – two key proposals under the Blue Masterplan. Visitors will also be able to avail themselves of more small and large-scale resorts with high-end amenities. Those seeking a healthier lifestyle and planet will inevitably be drawn by Grenada’s growing ecotourism options. Carriacou’s airport is also scheduled to relocate to cater to commercial airlines that require a longer runway. Grenada’s ‘blue tourism’ strategies include promoting the nation as a world-class destination for hospitality, education, medical care, and sports by developing a tourism centre, a medical hospital and wellness campus, a hotel/ casino, and a regional sports centre and village. But ‘blue’ goes beyond tourism. Grenada is looking to become a regional forerunner in the aquaculture industry, to seal its role as a corridor for new international ventures and services in science and technology, and to increase its participation in the Caribbean shipping industry by establishing a freetrade industrial zone and cargo air terminal.
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GUEST CONTRIBUTOR
[Re]thinking Climate Change HE Kevin M. Isaac High Commissioner St Kitts and Nevis
T
he changing environmental landscape of the Caribbean stimulated me to examine more closely the phenomenon of Climate Change. Fortunately, there is an abundance of literature on the subject. In reviewing it, I was somewhat intrigued to observe that, notwithstanding, the mounting evidence of the dramatic shifts in our climates, including increases in extreme catastrophic climatic events and the accomplishments of the forward-leaning aspirations of COP21; Climate Change is routinely dismissed, in some quarters, as a hoax or normal cyclical weather variations. Considering the two schools of thought, it became necessary to explore which of the two strands could better explain why once luxuriant landscapes across the Caribbean, now often and for long periods, seem to give way to parched patches of brown; or why previously reliable water sources, on some islands, now only serve up enough water to meet government-regulated rations. This journey meant trying to understand the difference between changes in climate patterns and Climate Change. Climate Change is understood to be “a largescale, long-term shift in the planet’s weather patterns or average temperatures.” According to the literature, “Earth has had tropical climates and ice ages many times during its 4.5 billion years. Therefore, for eons, there have been variations in our climates and those changes were due to natural variations.” However, “since the last ice age, which ended about 11,000 years ago, Earth’s climate has been relatively
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stable at about 14°C, but in the last 200 years, average temperatures have been increasing.” There is mounting “scientific evidence that human activities now contribute significantly more Green House Gases (GHGs), such as carbon dioxide, methane and nitrous oxide that cause Climate Change – largely through use of fossil fuels and changes in land use linked to global human population growth.” Having regard for evidence indicating increases in the Earth’s temperature, I began to ask why people still refute the science. My appreciation was assisted by the interpretation of a leading psychologist who said, “people respond rationally to PAIN.” In other words, “people react to things which are Personal, Abrupt, Immoral and Now [P.A.I.N]. Hence, because Climate Change occurs gradually and its effects appear greatest in remote corners of the world or are expected to happen in the future; people who are not immediately affected, tend to ignore or deny its existence. They are therefore less inclined to act.” While scientists and politicians debate the issue, in several small island states, we witness an increasing frequency of catastrophic climatic events that threatens livelihoods, and undermines and imperils sustainable
development. For these islands, their small size is an inherent vulnerability. This vulnerability is exacerbated by the fact that “they are generally insular, low-lying coastal states with growing populations. Infrastructure costs are higher which makes post-disaster resilience more difficult. The islands generally have limited or no natural resources and small economies which suffer diseconomies of scale including geographic and economic isolation. They are highly dependent on trade and must import most of their food and energy. Additionally, they tend to be extremely prone to natural disasters.” Notwithstanding the existential threats faced by these island nations and rejection, by some, of Climate Change, the last couple years have given me reasons for optimism. I took comfort in the decisions of several Caribbean governments to show leadership and to take matters into their own hands by committing to work towards greening their development and to achieving carbon neutrality. These poor, vulnerable small island states are also taking steps to develop renewables i.e. geothermal, solar, and wind energy and to reduce long-term dependence on imported fossil fuels. Furthermore, this past May, I participated in a Commonwealth-sponsored Conference on ‘Regenerative Development’. It spoke to new opportunities for small vulnerable countries to combine national efforts in Climate Change reversal and sustainable development. This conference was not unduly preoccupied with the recognised threats posed by Climate Change. Instead, it offered windows of opportunity through which governments could refocus policies to better exploit existing national programmes, run by civic society and indigenous groups, more systematically to reverse the effects of Climate Change, while simultaneously working to achieve resilience, mitigation, and adaptation. I was further impressed by the insistence on the need to change the Climate Change debate by reshaping the
narrative and by using tried and tested efforts to change behaviours and reverse Climate Change. From the empirical analyses done by a group presenting at the conference, I discovered one of the practical ways to reverse the effects of climate change lies in the empowerment of girls and women. It was argued that their education has a direct correlation and transformative impact on mindsets and on societies; and, given the nature of many societies in the developing world where the woman’s role is central, to effect real change. Women must be included because they “can (and do) play a critical role in response to climate change due to their local knowledge of and leadership in e.g. sustainable resource management and/or leading sustainable practices at the household and community levels.” Women continue to be excluded for a variety of reasons including societal biases, skewed employment practices, and deep-seated stereotypes. However, their inclusion is not simply a matter of mainstreaming or a moral obligation. It is an economic imperative. It is held that the economic inclusion of women could “add some US$12trillion in global growth by 2025.” This would create significantly more resources for climate adaptation and mitigation. Regrettably, however, according to the literature, the adverse climactic events will continue and could permanently alter Caribbean and Pacific island landscapes. Such events will continue to challenge sustainable development efforts, undermine economic development, and reduce agricultural output with implications for long-term food security. They will also impact the islands’ “biodiversity, marine ecosystems, fresh water resources and people’s health. We could soon witness changes in migration patterns, employment opportunities, job security, energy, transport, and infrastructure costs.” These are challenges that require a holistic and inclusive approach. Climate change cannot be wished away or ignored. Political leadership on the environment is not the province of any one country, group, or leader. While charity is said to begin at home, so too is climate change reversal. Indeed, we need international cooperation and partnership, but we must also rely on our own domestic efforts and indigenous knowledge. We must be as eager to change policies and enact appropriate legislation as we are to empower all our citizens and change mindsets. It will require greater fairness and inclusion. It will require boldness and a willingness to act. It will require the engagement of the entire planet. HE Kevin M. Isaac High Commissioner (St Kitts and Nevis)
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CITIZENSHIP
The Three Pillars of Second Citizenship Physical Safety
Financial Security
Accessibility & Lifestyle
History teaches us that physical safety can be fleeting: in a matter of weeks, the Arab Spring swathed the Middle East; apartheid fragmented South African society with the rise of one and discriminatory doctrine; Hitler’s Germany occupied large sections of Europe for years, displacing families and effacing their national identities. Because we have little influence on the socio-political climate of our countries of birth, a second citizenship in a nation that is sheltered from danger is a precious commodity. There is no need to face turbulence, or expose oneself to crime and violence, when one can find peacefulness and happiness elsewhere. Moreover, when the country providing a safe haven is renowned for its social openness, sense of community, and local friendliness, as are the nations that open their borders to economic citizenship, the decision to obtain a second citizenship is an easy one to make.
Dual citizenship can provide a platform for multijurisdictional financial planning. Not only can it ensure that your possessions are protected by a rigorous legal system, but it allows you to hedge your financial risks by allowing you to develop an international portfolio. With citizenship of another, growing country, you can make sure that you are where economic development happens, and that you can access expanding markets to make profitable returns. You can also take advantage of the nation’s comparative advantages, which may be very different from those of your original country of citizenship. Citizenship can also open the doors to economic treaties and other transnational partnerships. Finally, citizenship of a country with a generous tax regime and a growing economy presents the perfect opportunity for intelligent investment.
We underestimate the stress, hassle, and cost of having to apply for a visa – a process that requires tedious form filling, document searching, and payment of heavy fees. As we step more and more into the 21st century, we expect easy accessibility to be commonplace. But if you don’t have the right visa-free privileges, you need to leave your passport at an embassy for weeks before a visa can be issued. With an alternative citizenship, you can radically improve your visa-free travel options, giving you the benefit of carefree mobility. You can also become part of a community that prizes entrepreneurship, values education, and cherishes universal healthcare. Lastly, should you obtain citizenship of a country encased in natural, quiet splendour, you could embrace a whole new lifestyle of relaxation and indulgence.
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Citizenship: A Journey Through Time
T
he concept of citizenship by investment was first developed in St Kitts and Nevis, the Caribbean island federation that remains one of today’s leaders in the citizenship arena. Initially, nations were slow to take on the concept, with citizenship by investment legislation being developed sporadically until 2013, when the industry boomed. Saint Lucia, which launched its Citizenship by Investment Programme in 2016, is the most recent Caribbean programme to embrace the industry, but programmes now exist in Europe, Asia, Africa, and Oceania.
ST KITTS AND NEVIS
DOMINICA
1985
AUSTRIA
2008 CYPRUS
CAMBODIA
BULGARIA
MALTA
2013
2013
2009
2002 1993
1984
2013 ANTIGUA AND BARBUDA
COMOROS
SAINT LUCIA
2015
2014 GRENADA
2016 VANUATU
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CITIZENSHIP
As 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 20
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 admirable Ease of Doing Business ranking from the IMF. 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.
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St Kitts and Nevis
Dwain Thomas Photography
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 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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10Steps
for Obtaining an Alternative Nationality
2.
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.
3.
4.
When all the necessary documentation has been obtained, your agent will ensure that your application is complete and ready for submission. The agent will represent you in the jurisdiction you choose and will submit your application on your behalf to the designated government authority.
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Decide to obtain an alternative citizenship – choose a programme that best suits your needs. Along with selecting a programme you need to also decide whether you wish to contribute to the nation’s government fund, or invest in the country by purchasing pre-approved real estate.
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. You do not need to travel to the country or attend an interview. There are no residency requirements either before or after obtaining citizenship.
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 your application. Processing times vary between 60 and 90 days. St Kitts and Nevis provides an accelerated processing in return for the payment of a premium fee.
CITIZENSHIP
6.
If the relevant government body believes that your application meets all the requirements to qualify for citizenship, it sends your application to the Prime Minister or Cabinet for review and final approval.
7. If your application is successful, you receive a letter informing you of the decision that your application has been approved in principle.
8.
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 developer’s escrow account.
9.
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.
Receive your new, internationallyrecognised 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
St Kitts & Nevis W E L CO M E
TO
A
s the Prime Minister of this wonderful democracy, I would like to welcome you to the beautiful islands of the Federation of St Kitts and Nevis – ‘paradise islands’ both in appearance and in the opportunities they present.
One such opportunity – a source of enormous pride for my Government – is our Citizenship by Investment Programme, a 33-year long illustration of our commitment to excellence and improvement, particularly now that we have introduced the ‘Platinum Standard.’ The ‘Platinum Standard’ has meant enhancing our oversight and operational practices, and strengthening our relationships with international partners and friends. It has also meant that only the best candidates and projects of the highest quality are approved under our Programme. Today, our Citizenship by Investment Unit boasts staff with more training in anti-money laundering, fraud detection, and financial crime than ever before. Independent due diligence firms further assess the suitability of applicants, and ensure that they are thoroughly vetted. Without sacrificing on strict due diligence, we 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.
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ST KITTS AND NEVIS
THE PLATINUM STANDARD
“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.”
We continue to work tirelessly with our European partners, the United States, and Canada to solidify information-sharing. It is with the understanding of such partners and allies that the Programme can enjoy the international recognition it receives for the transparency of its procedures and the quality of its applicant pool. Finally, we are refining the investment alternatives available to our applicants and are in the process of adding new ones. We also recently introduced the option to invest in a residence programme. St Kitts and Nevis is focused on providing the highest level of service to all those who participate in our Programme and, with a stronger 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
INVESTMENT
The Greenest Place
on Earth
P
unted as a nation that will set world records in terms of green energy, St Kitts and Nevis is one of the best investment destinations for those keen to support environmental sustainability. A FRAMEWORK FOR SUSTAINABILITY The adoption of the 2015 Sustainable Development Goals (SDGs), 17 objectives formulated by the United Nations, was an international turning point set to transform the world. Among the goals are a large number of environmental, social, and governance (ESG) tenets that countries are directed to follow, including the conservation of life on land and in water, climate action, clean energy, and responsible production. Addressing ESG issues and SDGs with fervour, and falling in line with 2017 investment trends (particularly those lessening dependence on traditional energy resources), the Federation of St Kitts and Nevis has accelerated its momentum towards becoming the first fully green country in the world. To achieve this, the Federation has also been refining its tourism sector – ensuring it both copes with conventional demand and caters to a wide net of ecoconscious visitors. Building environmentally-friendly hotels and residential developments is part of this process, as is reducing the ecological footprint of resorts that are already on the islands. Even notable hotel groups, such as the Wyndham Worldwide, which, in January 2017, announced the construction of the US$160 million Wyndham Grand Nevis, must
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pass an Environmental Impact Assessment (EIA). Construction on this particular resort will begin midyear, with completion anticipated for 2019. It is such premier developments that draw a large fraction of electrical power and that have played an important role in encouraging the Federation to find alternatives to imported diesel. Recently the Government announced that geothermal resources are available on St Kitts – up to 18 to 37 MW. Nevis is also building a geothermal plant, due for completion at the end of this year and anticipated to produce some 10 MW of power every day – enough to match the island’s demand. This project is expected to expand production to 150 MW, allowing Nevis to export energy to neighbouring island St Kitts, as well as St Barts, Antigua, St Maarten, Saba, and Statia. Wind and solar are also power-generators that have already produced results, and economic benefits, for the Federation. A solar farm on St Kitts and a wind farm on Nevis produced 0.75 MW and 4.75 GWh respectively in 2012. Such success promoted the advancement of these technologies. The solar farm, located next to St Kitts’ Robert L Bradshaw International Airport, received a second 500 kW solar development valued at US$1.55 million. The Nevis wind farm, built in 2009
on Maddens Estate, is soon to be complemented by another at Belle Vue. St Kitts and Nevis is one of a number of Caribbean countries that is seen as deserving from a climate and environmental funding perspective, as is demonstrated by its inclusion for support by the Agence Française de Developpement (AFD), which assists with the development of sustainable projects in renewable energy, waste management, and climateresistant infrastructure, as well as with the protection of coastal and river areas. FUTURE INVESTMENTS Environmentally responsible practices on St Kitts and Nevis are a big draw-card for discerning travellers and entrepreneurs – those who do not pursue a flurry of pumping nightclubs and late evening events, but rather embrace nature and seek investments rewarding both themselves and future generations. Sustainable projects secure mankind’s ability to thrive on this planet. They are the investment of the future and a legacy of prosperity for children.
The Government of St Kitts and Nevis fully understands the attraction of an investment that will support the nation and its people for years to come. A report compiled by the Government in 2010, a time of global economic recession, shows that the dual-island authorities undertook a comprehensive analysis of St Kitts and Nevis’ environmental status, prioritising it even at a time of international economic downturn. Required funding came from numerous sources. Some was derived from ‘citizens by investment’ – individuals whose contributions to the development of St Kitts and Nevis’ economy have rewarded them with citizenship. Others came from private foreign investors who recognised St Kitts and Nevis as an excellent destination for doing business. Attractive for its exemptions from import duties and customs service charges, as well as for its investment opportunities, St Kitts and Nevis is ideal for those looking to diversify their portfolio into geothermal and solar projects, hydrogen and wind turbines, or the conversion of waste to energy.
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ST KITTS AND NEVIS
The Harmony of Unity T
he Federation of St Kitts and Nevis has a reputation for maintaining a stable and fair political environment that has earned it accolades for being one of freest countries in the world. The peace and serenity to be found on St Kitts and Nevis today almost belies its colonial history, which saw it at the heart of a struggle between France and Britain as they vied for control of this gateway to the West Indies. Separated by a small channel, the two islands were subject to attack by the French and Spanish until the late 18th century, when they were placed firmly under British control. In 1825, St Kitts and Nevis, along with neighbouring island Anguilla, became administered as a single colony.
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a cohesive identity. All elections, which take place every five years, have remained free and fair, and, in 2015, resulted in the appointment of a coalition Government: Team Unity.
When, in 1967, Great Britain brought the islands together as a single associated state called Saint Christopher-Nevis-Anguilla, Anguillans rejected their union with St Kitts and Nevis, compelling the separation of their island. In 1983, St Kitts and Nevis obtained independence from British rule and established itself as a federal parliamentary constitutional monarchy with Queen Elizabeth II as its head of state – a role she retains to this day.
This year, St Kitts and Nevis celebrates its 50th year of statehood – a milestone that has further focused the nation on good governance. Alongside this, the country is witnessing 33 years of excellence in citizenship by investment, a model for citizenship that it created in 1984 and that it is reforming under the principles of heightened accountability and integrity.
For the following 12 years, the country was led by a coalition of the People’s Action Movement and the Nevis Reformation Party, whose longstanding presence at the head of Government only ended in 1995, when the Saint Kitts and Nevis Labour Party took power. Despite a call by Nevis at that time for separation, exacerbated by strikes in the agricultural sugar industry, the country developed
Recent reforms to the St Kitts and Nevis Citizenship by Investment Programme have brought about strengthened and expanded due diligence and security frameworks, and have highlighted the Federation’s commitment to exclusivity, security, and transparency – tenets that reflect the face of Government and that have resulted in the Programme being known as the ‘Platinum Standard’ of citizenship by investment.
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Trending Conversations St Kitts and Nevis Citizenship by Investment @SKN_CIU
@Ben @SKN_CIU Can you believe it only took #60days to obtain my #StKittsandNevis citizenship and passport?! #dualcitizen
@Carol @SKN_CIU Talk about #efficiency! Looks like you were right to choose the premium #AcceleratedApplicationProcess #AAP
The 60-day accelerated process requires an additional fee of US$25,000 for the main applicant, and US$20,000 for all other applicants over the age of 16. It is ideal for business people who require a speedy second citizenship solution.
@Ben @SKN_CIU The #AAP was straightforward but also very thorough. I had to provide lots of supporting documents before #submission
St Kitts and Nevis has reformed its Programme to apply even stricter due diligence procedures. Candidates are reviewed by the Citizenship by Investment Unit (CIU), independent risk firms, and international partners.
@Carol @SKN_CIU Well it’s important to know the #SKNCBIProgramme is so secure. What #CBIInvestmentOption did you choose?
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A contribution of US$250,000 is required for a single applicant.
A US$400,000 designated property must be purchased. Additional Government fees apply starting at US$50,000 for most adults, and decreasing to US$25,000 for children and spouses.
@Ben @SKN_CIU I went for the #SugarIndustryDiversificationFoundation #SIDF contribution – #givebacktothecountry + no real estate hassle.
@Carol @SKN_CIU I’m looking for an option for my entire family #familyman. Where can I apply?
@Ben @SKN_CIU You can include #dependentchildren up to 30-years-old + #parents and #grandparents over 55 who live with and are supported by you.
@Carol @SKN_CIU How do I get started?
@Ben @SKN_CIU You must apply through an #AuthorisedPerson listed on the #officalSKNCBIwebsite www.ciu.gov.kn
@Carol @SKN_CIU Great, I can’t wait to call myself a national of a respected, world-famous country that is part of the Commonwealth.
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TESTIMONIAL
The Path to St Kitts and Nevis
S
unil* and Raj* had gone through every major step of their lives together: they had met as children in an international school in Mumbai, attended university to study engineering, and set up their joint software company right after graduation. They even played sports together. It was therefore a shock to Sunil to find out that Raj no longer wanted to focus on their Indian business, but rather wanted to expand to new countries, and even new continents. “We were, and continue to be, like brothers. We are always looking out for each other. I know I can trust Raj like I trust myself. So I was heartbroken at the thought that he might leave me behind,” says Sunil. Sunil and Raj’s business was prospering, and this enabled Raj to look at citizenship by investment options. Always one with an eye for quality, Raj spotted the St Kitts and Nevis Programme, the oldest citizenship by investment programme in the world, now making headlines as the ‘Platinum Standard’ of the industry. Raj was incredibly excited by the St Kitts and Nevis proposition: a second citizenship from a country that had vast experience vetting applicants, processing their applications, and delivering a quality travel document was exactly what he required. “Raj had a knack for attention to detail, and had taken his time to study St Kitts and Nevis. He saw GDP growth, a business-friendly environment, and a young workforce. On top of all this, he was looking at one of the most trusted citizenship programmes in the world. I just couldn’t keep him away,” underlines Sunil. But, as always, life for Sunil and Raj would not feel complete without the other. “Raj told me about how, as a citizen, he had quickly set up a company on the island of Nevis, and how wonderfully free he was now to travel to meetings and explore new business ventures in person. It didn’t take long for him to make a case for me to also take up citizenship of the country.”
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ST KITTS AND NEVIS
Sunil is applying for citizenship of St Kitts and Nevis under the Accelerated Application Process (AAP) – an exclusive service offered by the Citizenship by Investment Unit to those who opt to pay an additional fee. This means that Sunil will be able to hold a new passport within 60 days of submitting his application. “The first thing I’ll do when I have this passport is travel to St Kitts and Nevis and play a round of golf with Raj. We’ll toast to old friendships and good business!”
*The names in this article have been changed to protect the privacy of its original subjects.
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TRAVEL
Citizens of the World The motives of those who travel have become more sophisticated – shifting from simple relaxation to finding a place in which to develop new interests or pursue old passions. The result is a much greater choice of destinations with ‘purpose.’ Travel today satisfies one’s love of nature, adventure, gastronomy, healthcare, history, culture, national heritage, art, religion, and even fashion. Our picks for Summer 2017 include the exotic, new and old favourites, and the trendiest destinations for today’s citizens of the world.
MARRAKESH, MOROCCO There’s a new edge to Marrakesh, a city that today exudes not just the splendours of its imperial past, but a unique designer feel. The Yves Saint Laurent Museum is scheduled to open in Autumn 2017 and house the fashion mogul’s extensive collection, and the city also plays host to the first hotel venture of celebrated designer Jasper Conran – introducing 1930s elegance in five bespoke suites. High-end boutiques add to the already popular souks, and fusion-food restaurants and rooftop cocktail bars deliver nightlife in a culture that merges innovation and history.
ECUADOR, SOUTH AMERICA Often considered a life-changing experience, a visit to Botswana is a nature-lover’s soul food. The wilderness experiences include the Okavango Delta: a 15,000 to 22,000 km grassland prone to seasonal flooding that can be toured in either canoes or safari vehicles. Adventures are also to be had on the Makgadikgadi Pan, one of the largest salt flats in the world where visitors can walk with the San Bushmen and learn about their hunter-gathering way of life.
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TOKYO, JAPAN Shop till you drop in Ginza, the most affluent shopping district in Japan’s capital city. Known to house some of the world’s shopping meccas, Tokyo offers vintage stores, boutiques, and high- or low-end designer wear outlets that fashionistas crave. Teen fashion permeates the city, as do restaurants offering fine dining or street food stands showcasing ramen, nikuman (dumplings), and takoyaki (octopus pancakes). Sumo wrestling, bullet trains, the Imperial Palace, and Tokyo’s more than 2,800 temples present visitors with an authentic Eastern experience.
NORWAY, SCANDINAVIA With natural beauty in abundance, Norway’s mountains, deep fjords, lakes, and glaciers provide an almost surreal experience. It is here that visitors can view the Northern Lights, wonder at the freedom of polar beers and wild reindeer, or watch the sun as it hovers above the horizon for weeks on end. But Norway is not just magnificent isolation – vibrant coastal towns have birthed a cosmopolitan food-lovers’ paradise. These charming sites accommodate guests in fishermen’s cottages and colourful houses, such as those of Bergen, where fresh fish can be tasted daily.
VIETNAM, ASIA Drop everything and head east to Vietnam where tours in traditional junks or luxury cruise boats and barges allow visitors to experience the emerald waters of the Mekong River and its tributaries. Floating markets offer magical handicrafts and fresh fruits, rice paddies dot the surrounding land, and lush rolling mountains produce an endless abundance of flowers – ensuring that the beauty of Vietnam is forever remembered. Follow the river to cross the borders of China, Myanmar, Laos, Thailand, and Cambodia.
BOTSWANA, SOUTHERN AFRICA Often considered a life-changing experience, a visit to Botswana is a nature-lover’s soul food. The wilderness experiences include the Okavango Delta: a 15,000 to 22,000 km grassland prone to seasonal flooding that can be toured in either canoes or safari vehicles. Adventures are also to be had on the Makgadikgadi Pan, one of the largest salt flats in the world, where visitors can walk with the San Bushmen and learn about their hunter-gathering way of life.
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Dr the Honourable Roosevelt Skerrit Prime Minister Commonwealth of Dominica
W E LCO M E
TO
Dominica I
would like to extend a very warm welcome to the readers – those in my neighbourhood, the Caribbean, and beyond.
The world is a changing place. It is becoming increasingly evident that Dominica must have the fortitude and discipline to chart a path predicated on our capacity and ability to reach financial self-sufficiency as a nation. Toward that goal, we must analyse what is both possible and practical within the constraints of our country’s small population and resources. Our economy, like many others, faces a key challenge: overspending is not a responsible option, and yet the Government has an enduring obligation to continue delivering on crucial social responsibilities to Dominican citizens, irrespective of budget realities. Accordingly, continued economic growth and private sector development are top priorities to which the Government is firmly committed.
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DOMINICA
REALISING A MODERN, PROSPEROUS 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.”
We are continuing to find new and innovative means to foster and support entrepreneurship and business development across diverse sectors in Dominica. The Citizenship by Investment Programme is a crucial piece of the equation – providing an important source of revenue, it helps us grow our economy and create long-term jobs and opportunities in various sectors, while also financing infrastructure projects, education, and social programs that benefit people across our country. At every turn, the Dominican Government is committed to wise and prudent fiscal management, and this style of management will be required going forward if Dominica is to continue to defy the odds – charting a course for itself of social and economic success. And now, in closing, I would be remiss if I did not encourage all readers to take a visit to our beautiful Nature Island – to see what all the fuss is about. Sincerely, Dr the Honourable Roosevelt Skerrit Prime Minister Commonwealth of Dominica
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DOMINICA
INVESTMENT
A Destination
with VALUE
LUXURY BRANDS Dominica’s commitment to its tourism sector, and to positioning the island as a premium location for travellers, is reflected in the unprecedented number of luxury labels that have made their way to Dominica’s shores. It is these labels that are now defining Dominica as an exclusive Caribbean island. The latest entry to Dominica’s high-end tourism market is Marriott International, which, in January 2017, announced it would be spearheading a new five-star hotel project, the Silver Beach Resort and Spa, on Dominica’s Picard Beach. Underscoring Dominica’s progressive approach to the development of tourism is also the endorsement of the Kempinski hotel group, which is siting one of its first Caribbean hotels on the island. Dominica’s Cabrits Resort Kempinski can pride itself on being the first real estate project sponsored by the island’s Citizenship by Investment Programme, and is due for completion in 2018. Hilton Worldwide is yet another leading hospitality group that appreciates the value of property in Dominica. Its brand, ‘Curio – A Collection by Hilton,’ which it identifies with a global portfolio of upscale hotels, has partnered with locally-developed Tranquility Beach Resort, expected to open in 2018.
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Credit: Secret Bay
T
he Government of Dominica is developing high-end tourism, presenting the ‘Nature Island’ as the ultimate holiday experience for discerning travellers, and attracting entrepreneurs with eye-catching opportunities for investment. Dominica, an island renowned for its forests and rivers, is more than just a lush paradise; it has selfawareness of its vast potential.
Tourism – the world’s largest service sector industry – is key to Dominica’s economy and one of the largest contributors to its GDP growth. The Government of Dominica is well aware of just how this sector can be a catalyst for positive change, and it is no wonder that local policies and practices are geared to promoting its development. Most importantly however, Dominica is looking for exclusivity, and to create a tourism market that will value the island’s natural traits. A TOP CHOICE FOR ETHICAL TRAVEL Why hotel groups such as Marriott, Kempinski, and Hilton have chosen Dominica is simple: these are corporations in touch with what their guests want and with where they want to go. Dominica is on that list. The island’s efforts to preserve native culture and ecology have not gone unnoticed by the more ethical travellers: those who take into account their footprint and how it impacts the destinations they visit. Such ethical visitors consider the environment and how nations support best practices – not just in environmental conservation but also in the safeguarding of indigenous populations. In Dominica’s favour are efforts to lead in renewable energy resources and usage, a focus on chemicalfree agriculture, a stand against whaling and for the protection of marine life, and a considerable determination to leave practically untouched the natural environment that Christopher Columbus
discovered in 1493. In addition, Dominica’s National Action Plan calls for a concentration of efforts on bio-diversity and species preservation, deforestation prevention, land- and coastal-use management, and water and solid waste management. It is no surprise therefore that Dominica was selected by Ethical Traveler to feature on its 2017 list of ‘The World’s Ten Best Ethical Destinations.’ In its feedback, Ethical Traveler noted the island’s achievement in becoming a high consumer of renewable energy, as well as Dominica’s ability to boast “a very high number of centurions – people living over 100 years – and consisten[t] self-report[ing] as one of the happiest nations in the world.” GROWTH THAT IS INFECTIOUS Dominica’s happiness is so obviously infectious that it attracts not merely ethical tourists, but a wide variety of investors. Yachting, manufacturing, agro-processing, and information and communication technology are all flourishing. Other growing trends include sport, adventure, and wildlife tourism – three sub-sectors to which Dominicans have aligned their service industries and targeted recreational activities. Eco-lodges and boutique hotels are becoming popular, especially as they can be developed with little impact on the environment. They are nestled into foothills and escarpments, and cater to a natural and healthy lifestyle that the stressed and tired wish to escape to. Examples include Jungle Bay Resort, which offers a spa, yoga lessons, and several water and jungle adventures, and Secret Bay Resort, whose activities range from meditation classes to night snorkelling. The Citizenship by Investment Programme offered by Dominica is a critical component of the Government’s growth strategy and, among other things, a popular tourism investment arm. It is through citizenship by investment that investors can own shares in Dominica’s luxury resorts and partner with high-end global tourism developers. Alternatively, investors can donate to the island’s Economic Diversification Fund, which in turn fosters entrepreneurship. Whichever route the investor chooses, the Citizenship by Investment Programme benefits the economic strength of the island, helps it achieve its growth objectives, and rewards those who visit with an injection of new energy.
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DOMINICA
In the Garden of Eden I
f elfin forests, healing hot springs, and the song of a Solitaire appeals to your physical senses and inner self, then you must embark on a journey to the Commonwealth of Dominica, the island where nature, in all its luxuriant abundance, is untouched. Dominica’s beauty is best revealed on its hiking trails. It might strike you through the island’s colourful flora, or thanks to the gentle song of the Rufousthroated Solitaire – a bird rarely seen but whose melodies, once heard, are never forgotten. Or, perhaps, it will be by way of the haunting beauty of the Boiling Lake, reached by crossing the Valley of Desolation. The twin Trafalgar Falls, fondly referred to as Mama and Papa, are just 10 minutes walking distance from the quaint village of Trafalgar, and yet they seem to exist in enchanted isolation. Along that journey are some of Dominica’s 200 species of fern and trumpet trees, whose stems are used to make wind instruments commonly played in traditional folk bands. Dominica’s capital city, Roseau, and its surroundings, host a range of accommodation options that can immerse you in the island’s natural habitats. From arty Cocoa Cottages nestled in the rainforest, to the Papillote Wilderness Retreat – where butterflies flit among a lovingly planted 50-year old garden, the choices are vast and varied. Protecting Dominica’s ecosystem – a harmonious element of local existence – is a key mission for the people and Government of the island. One aspect of this mission is ensuring that Dominica’s gems, such as Morne Trois Pitons National Park, are recognised
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internationally. The Park became a UNESCO World Heritage Site in 1997, and three more sites, Fort Shirley, Morne Diablotin National Park, and Soufriere-Scott’s Head Marine Reserve, are also being considered for listing. Another aspect of this undertaking is local reinvention. Dominica is taking active steps to adapt its resources to the challenges of climate change, for example by investing EC$45 million in a geothermal plant that will reduce energy costs and ensure that the nation is not damaged by the excessive use of more traditional sources of energy, including harmful fossil fuels. Change, just like the environment, is ‘natural’ on the Commonwealth of Dominica.
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Trending Conversations Dominica Citizenship by Investment @DominicaCBIU
@Ryan @DOM_CBIU I’m thinking of investing in #Dominica for #secondcitizenship. Have you heard of the #DominicaCBIProgramme?
@Sam @DOM_CBIU Yes! Got #Dominicacitizenship last year! No interview, no language test and no travel/residence. Ideal for my #busyschedule
@Ryan @DOM_CBIU Which option did you choose? Contribution to the #EconomicDiversificationFund #EDF or investment in real estate?
@Sam @DOM_CBIU I donated US$100,000 to the #EDF. I also paid US$7,500 for the due diligence checks and US$3,000 for processing.
The Economic Diversification Fund (EDF) helps develop the country by sponsoring public and private projects in Dominica.
Seven Megawatt geothermal plant
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Loan facility for local farmers
Rebuilding Public Infrastructure, such as the Douglas Charles Airport
@Ryan @DOM_CBIU How would that differ from the real estate option?
@Sam @DOM_CBIU Real estate costs US$200,000 plus US$50,000 in Government fees. You must hold it for #3or5years depending on the buyer.
@Ryan @DOM_CBIU I hear the #CitizenshipbyInvestmentUnit #CBIU only takes #3months to process an application. Is document collection hard?
@Sam @DOM_CBIU Your best bet is to visit www.cbiu.dm and find an #AuthorisedAgent to help you get the right forms and documents!
@Sam @DOM_CBIU Dominica has stringent due diligence procedures it applies on each candidate, who need to show good moral character and a clear source of funds.
Actually, the Prime Minister of Dominica is really emphasising this. “Dominica operates its Citizenship by Investment Programme in an open and transparent manner, with our main objective being to attract high quality applicants. We see each new citizen as being part of our community, therefore the grant of citizenship to these individuals is taken very seriously.”
Dr the Honourable Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica
@Ryan @DOM_CBIU What are the #lifechanges you’ve experienced now you have #secondcitizenship?
@Sam @DOM_CBIU Freedom of travel and safety, both for me personally and for my assets #insurancepolicyforthefuture
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TESTIMONIAL
The Path to the Nature Island
I
t’s been an exciting few months for the Wilsons*, ex-Brooklyn, New York residents. Drew, a very successful insurance salesman, retired in March last year. His wife Judy was hospitalised three times in early 2016 – a result of a chronic asthmatic condition. Both these lifechanging events gave Drew cause to pause and consider the future. It had always been the Wilsons’ intention to live forever in the dream-house they had built some 45 years before, whose interior design mocked the plantation style that had so enraptured them when they had visited the Caribbean on their honeymoon. Now, with Brooklyn becoming increasingly fast-paced and air pollution skyrocketing, the couple had to consider moving. Drew and Judy pondered over relocating to Upstate New York, but the political landscape they saw emerging as Mr Trump and Mrs Clinton swung punches during the campaign trail foreshadowed a future that seemed far removed from their values. “It was time to leave, and make a big and quick move, was the way we saw it. It’s not that we no longer cared about our country – rather, we just wanted to participate less in the drama of it all. We remain deeply passionate about our patriotism,” says Drew. Trekking in the great outdoors, yoga, and fishing were interests that the Wilsons wished to pursue into retirement and so it was Dominica that ticked the couple’s needs for the future. Drew and Judy decided it made sense to legally move to the country via its Citizenship by Investment
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Credit: Secret Bay
DOMINICA
Programme, as the required investment was not exorbitant and citizenship would create an indelible bond with the island. They were also persuaded when they spotted an eco-property that echoed their home in Manhattan. “How interesting it was for us that, having mimicked the architecture of the Caribbean all those years ago, we could now experience it authentically,” Drew laughs. The Wilsons’ lifestyle is everything they dreamed of, and more. Daily they either walk or cycle to a nearby sulphur spring to swim, do yoga together on a raised platform with views of the sea, shop for and eat local produce, or walk to restaurants where fresh fish is at the order of the day. All of this they have achieved without Judy’s asthma hampering her daily life. Drew and Judy Wilson applied for Dominica’s Citizenship by Investment Programme in June 2016. Their application was processed and approved shortly before the three-month period prescribed by regulation. They visited the island prior to applying but this was not a requirement under the Programme. “We love our Dominican life but this is not to say we live in isolation,” underlines Drew. “It’s only a short trip to visit our friends in the United States, and they too fly over to see us. Everyone always seems rather sad to leave us though and it’s not hard to guess why!”
*The names in this article have been changed to protect the privacy of its original subjects.
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MOBILITY
Freedom of Movement M
ovement, facilitated by technological developments such as air travel, fast trains, and new automotive technology (including electric cars) has never been technically easier. Long gone are the days when crossing Europe would require a fully committed ‘Grand Tour,’ or when travel to Australia would entail four months of seafaring in sturdy ships. At the same time however, there is tremendous inequality as to who can fully enjoy the benefits of modern travel. One individual may be able to book a flight and board a plane on the same day, but the same privilege may not be afforded to another. At the core of this disparity are the visa-free travel rights individuals carry with them by virtue of their citizenship. Visa-free travel is the ability to visit a country and remain within its borders for a limited amount of time to perform specific activities, without needing to first apply for a visa to that country. Visa-free travel rights are generally afforded by countries on a mutual basis and, in their most common form, enable entry for tourists and businesspersons. Visa-free, however, does not imply residential rights: although visits are allowed, no right of abode or permanent work is entailed. Being able to visit a country at liberty reinforces people-to-people relations, both because individuals come face to face with each other’s cultures and because they witness first-hand the business opportunities a country has to offer. In so doing, they are encouraged to develop ties with locals to establish new entrepreneurial activities and find avenues for profitable investment. To the individual, therefore, freedom of movement means opportunity. To the host country, freedom of movement means greater exposure to foreign direct investment, revenues from tourism, and job creation to fulfil visitor demand for accommodation, dining, transport, and other services. Where an individual finds he or she is at the negative end of the spectrum, with few or no visiting rights, an alternative citizenship can assist in providing stress-free and uncomplicated travel. This is particularly the
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case where the country of second citizenship is a dynamic international relations player with close ties to other countries. St Kitts and Nevis, to name one example, has been steadfast in achieving its vision of a nation interconnected to the rest of the world by way of freedom of travel. In the past two years alone, travel treaties were signed between the Caribbean Federation and Bolivia, Brazil, Indonesia, Kosovo, the Maldives, the Seychelles, and the Ukraine. Grenada is yet another that has established visiting rights to the People’s Republic of China – a privilege only few can count on. Freedom of movement is the right of an individual to live autonomously and to cross country borders without undue hassle. To businesspersons and the intellectually curious, it is a means of exploring exciting opportunities. For aspiring citizens of the world, freedom of movement guarantees are pivotal to the operation of an international lifestyle.
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LIFESTYLE
In Search of Quality Living F
or today’s citizens of the world – those who are conscious of their legacy and intent on fully experiencing life – the standard of living a country can offer is an important consideration. They look for nations that can provide education, healthcare, and security, and for easy access to goods, services, and luxuries. Universal challenges to our ability to experience a comfortable lifestyle include economic downturn, political disturbance, and the inability of governments to provide basic services to their people. One solution to finding a standard of living that complements the desires of globally minded individuals is through citizenship by investment – a prominent feature of the immigration policies of several countries, offering applicants the chance to obtain citizenship in a destination of choice in exchange for a substantial investment in the national economy of that country. Some of the leading jurisdictions providing the opportunity of citizenship to willing investors include St Kitts and Nevis, Dominica, and Grenada. These countries have politically stable environments, enabling them to focus on achieving key social policy objectives including widespread education and modern healthcare. Each has also been ranked among the freest countries on earth by Freedom House’s ‘Freedom in the World’ 2016 report – an analysis of political rights and civil liberties within a nation. Quality of living can also be affected by the wealth of a nation and the business opportunities it presents. Business and entrepreneurship in the Caribbean have been advancing significantly – driven by foreign direct investment and concentrated capital inflow in the tourism and construction sectors. Personal happiness and gratification are also derived through healthy living – something that often comes hand in hand with a natural environment stimulating growth and wellbeing. Clean energy production is at the heart of the Caribbean’s development agenda, with wind power, solar power, and geothermal energy taking centre stage. These island-nations have remained vigilant against global climate change, encouraging sustainable development and raising their green profile. They are also dedicated to preserving their lush environment, establishing natural parks and centres for wildlife conservation. Citizens of the world aspire to the best that life can give. They search for excellence in their everyday lives – not just in the extraordinary. With citizenship by investment that search is finally made easy.
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Dr the Right Honourable Keith Mitchell Prime Minister Grenada
W ELCOM E
TO
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, and it is with even greater pleasure that I can report on a Grenadian economy that has shown excellent economic performance and growth.
We have 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. Foreign Direct Investment (FDI) on our islands has been boosted by the passing into law of Grenada’s Citizenship by Investment Programme. Launched in 2013, the Programme has reinvigorated investment in
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GRENADA
GRENADA: THE LAND OF OPPORTUNITY
A growing economy, bolstered by commitment to entrepreneurship
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 the Grenadian economy into a knowledge-based one. We have seen progression in the advancement of the services sectors, including training in skills relatively new to Grenada, such as offshore financing. 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
INVESTMENT
Tri-Investment for the Caribbean’s Tri-Island Nation
A
ppealing to those looking for alternative investment options in a world marred by slow economic growth, Grenada is a nation that has seen three percent growth in 2016 – an achievement the IMF expects it will equal in 2017 – and that is ripe with non-traditional opportunities for perceptive investors. Small island states like Grenada are particularly vulnerable to the impact of adverse market conditions, weather, and other changes that may not equally affect a country with vast natural resources. It has therefore had to find innovative ways to guarantee economic stability that are somewhat different from conventional options. Investment is about the future and returns, and, for this tri-island nation, this has meant concentrating on sustainability projects and construction. One interesting trend for 2017 has been building and maintaining infrastructure – something that will translate into new and exciting opportunities for public-private partnerships, and that will affect sustainability and climate change goals. GREEN POTENTIAL Energy is vital to Grenada’s growth and to the realisation of its development agenda, with demand for electricity currently peaking at around 30 MW. Grenada is highly dependent on imported fossil fuels and thus susceptible to price and supply volatility. To end this dependence, in 2011 the Government approved the Grenada National Energy Policy and formulated along with it the GREENADA Vision 2030 – a plan to power the nation with 100 percent renewable energy. Geothermal and waste-to-energy systems, in combination with wind and solar resources, are being
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explored and developed and, wherever possible, the Government has sought to collaborate with partners. Such partners include the European Union, Japan, and New Zealand, as well as private investors. Grenada’s ambition to become a green nation is also reflected in the many eco-friendly projects being launched across its lands and seas. The Grenada Sustainable Aquaculture Project, for example, involves the creation of fish farms in the Caribbean Sea, with water sensors to ensure that environmental conditions remain conducive to healthy marine life. TOURISM Grenada’s efforts to become an all-round natural paradise have been noted by foreign travellers who, in ever-growing numbers, choose the nation as their Caribbean getaway. Tourism increased by 2.6 percent in 2016, and the number of arrivals from the United States – arguably the most important market for Caribbean tourism – saw a 10.7 percent raise. Part of Grenada’s success in attracting tourism can be attributed to its rebranding as ‘Pure Grenada,’ a phrase emphasising the country’s commitment to the preservation of national beauty. Two national parks have been established by the Government – the Levera National Park, which sits on the north-eastern coast of Grenada, and the Grand Etang National Park, situated at the centre of the island and adjacent to Grenada’s majestic Grand Etang Lake. Endemic species are also being protected, with the Mt Hartman
Dove Sanctuary providing shelter to the Grenada Dove and a number of other wildlife sanctuaries dotting the nation’s islands. Grenada’s vast array of fresh organic produce, including its tree-to-bar chocolate and nutmeg and mace farms, have made it famous across the globe. The nation’s wide range of outdoor activities, including snorkelling among the world’s first ever reef-enhancing underwater sculpture park, are also magnets for visitors. CONSTRUCTION AND REAL ESTATE In reaction to growing numbers of tourists, Grenada has been increasing its construction output, particularly with respect to hotel and resort development. In this the country has been receiving the support of its Citizenship by Investment Programme, which enables applicants to obtain citizenship following a US$350,000 investment in a pre-approved development.
A BUSINESS CLIMATE TO TIE IT ALL TOGETHER Investment in green energy, tourism, construction, and real estate are simplified by Grenada’s businessfriendly policies. The country has a number of tax incentives for investors and an approximate 31-day window to set up a legitimate business. Its proximity to the Americas simplifies expansion into larger markets and makes it the ideal base for supply chain providers. Grenada has been politically stable for decades, has a low crime rate, and has good infrastructure. Countries that are investing in the nation include the United States, Great Britain, China, and Trinidad and Tobago, while private investors include a string of high-end hotel developers from across the globe. Overall, Grenada is devoted to innovating and offering increasingly advanced solutions to its economic development while maintaining its untouched natural environment. It is a focus that will take it well beyond 2017 and cater for generations to come.
Those looking to become citizens of Grenada through its Citizenship by Investment Programme are today’s citizens of the world – people who are interested in climate change and intent on protecting the everdecreasing paradises left on the planet. Many are on the lookout for real estate with minimal impact on the environment, and Grenadian developers have been quick to respond to this demand. Eco-lodges are multiplying, and even large resorts have embraced green building practices. Given the increase in the number of travellers visiting Grenada – whether for pleasure or business – investment in construction and real estate can also result in long-term rental yields. Demand for rental property is further reinforced by the many people employed or studying at Grenada’s reputable St George’s University who are constantly on the lookout for housing. With the construction industry on an uphill curve, the potential for commercial spinoff is vast. Supply chain providers, for example, may find much to benefit from increased demand for building materials – as may logistics and planning specialists who have already identified Grenada as the ideal location for commerce between North America, the Caribbean, and South America.
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GRENADA
Investing in Your Family F
inancial security and family prosperity are difficult to guarantee in today’s world where little is constant other than, perhaps, the constancy of change.
Investing in your children to provide them with the skills and education to face uncertain times is one way of establishing security. Grenada, boasting a 96 percent literacy rate, has one of the best-regarded offshore universities in the world – St George’s University – whose highly-trained graduates make their mark on communities on all continents, especially in the United Kingdom and the United States. Safeguarding health is also crucial, particularly for individuals with large families including elderly parents or grandparents and, at the opposite end of the spectrum, young children. Grenada’s teaching hospital, affiliated to St George’s University, is insurance that some of the best possible medical treatments are readily accessible. Despite its relatively small economy, Grenada has a well-established financial services sector, mirroring its growing economy and the needs of successful businesses. Over the past three years, Grenada’s economic activity has been robust, with growth stimulated by increases in its tourism, construction, and manufacturing sectors. The country is also expected to perform well in 2017, with the International Monetary Fund projecting a three percent growth in GDP. In this context, investors can look to this Caribbean island-nation for long-term
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Dwain Thomas Photography
Insurance schemes, banking systems, and even pension funds have proven unstable, particularly for those who failed to protect their financial standing. Stressful at best, financial insecurity is a growing concern, exacerbated when people have families they seek to protect. There are, however, ways to ensure some peace of mind.
investment, guaranteeing prosperity for themselves and their families for years to come. Grenada’s Citizenship by Investment Programme, launched in 2013, is also proving popular, providing interesting investment incentives to those who choose to apply with large families. Affording the safety net of a second citizenship, the Programme also encourages the purchase of real estate, thus providing applicants with another coveted family investment: a home. Thanks to Grenada’s education system, health infrastructure, growing economy, and booming real estate, this Caribbean nation provides great opportunities to invest in your family’s future.
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Trending Conversations Grenada Citizenship by Investment @GrenadaCBI
@Joe @GREN_CBIC Just received #Grenadacitizenship by making an investment. My wife and 2 kids also joined #happyfamily #GrenadaCBIProgramme
@Pat @GREN_CBIC Fantastic! I know you can either contribute to the #NationalTransformationFund #NTF or buy real estate. Any other fees?
To obtain citizenship of Grenada, you can either:
Contribute US$200,000 to the NTF for for family of up to four people. The NTF sponsors projects to benefit the country.
Purchase real estate valued at a minimum of US$350,000. Add Government fees of US$50,000 for a family of four and an additional US$25,000 for any extra family member. Real estate must be held for a total of three years.
@Joe @GREN_CBIC We contributed to the #NTF and paid minor fees. Government fees didn’t apply: they are only part of a real estate application. NTF Fees include:
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√√
Application fees: US$1,500 per person
√√
Processing fees of US$1,500 per person which drop by $500 if you’re under 18 years old
√√
Due diligence fees of US$5,000 per adult, and $2,000 for children aged 12-15
@Pat @GREN_CBIC What was the process for receiving your #secondcitizenship?
@Joe @GREN_CBIC We went on www.cbi.gov.gd and contacted a #MarketingAgent. No travel/residence requirement and no interview needed!
@Pat @GREN_CBIC How long did it take for you to hear back from the #GovernmentofGrenada?
@Joe @GREN_CBIC The #CitizenshipbyInvestmentCommittee #CBIC only took #60businessdays to process our application #fastandreliableservice
The CBIC vets candidates both in-house and through independent due diligence firms, to ensure only quality candidates receive citizenship of this nation.
@Pat @GREN_CBIC I know #Grenada has a top-rated medical university #StGeorge’s #brightfuture. What are other benefits of citizenship?
Grenada offers unique benefits to its citizens, including:
Opportunity to apply for a US E-2 Visa
Availability of a permanent residence card
Visa-free travel to the people’s republic of China
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GRENADA
TESTIMONIAL
The Path to the Spice Isle
V
asyl’s* restaurant in Sevastopol, Ukraine was a thriving business until tensions with Russia in 2014 brought disorder to the industry. Conflict arose just days before Vasyl could close negotiations to expand his popular chicken outlet to Simferopol and Vasyl was quick to realise that his business could not thrive in a climate of socio-political uncertainty. “All that I had strived for and achieved would be destroyed if we stayed much longer,” said Vasyl sadly. Neighbouring retailers were also suffering. Many had closed shop and moved away. “I was struggling to obtain produce and, when I could, the cost was so high that my profit margins became minimal.” Further, Vasyl faced everincreasing threats to his family’s security; his wife and two children were scared to leave their home, and access to healthcare and education was severely limited. Vasyl describes his thinking: “Dubai seemed a good choice, as there were opportunities to invest and start a new restaurant. What concerned me, however, was that in leaving the Crimea we would effectively become stateless – unable either to return to our homeland or to become citizens of Dubai, which has strict rules on citizenship. I needed to know we had a ‘forever’ home.” On discovering Grenada’s Citizenship by Investment Programme, Vasyl was most attracted to the island’s cosmopolitanism. “My restaurant dream could continue and Ukrainian cuisine would fit well into the already diverse range of businesses that rest along the shores of this buzzing but peaceful island. The cherry on the cake?
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Grenada is the ‘Spice Island:’ the perfect place for me to open a restaurant where strong flavours underscore every recipe.” Further attractions for Vasyl included opportunities for his sons to learn English and study at a reputable school. St George’s University was perfect for his eldest son who was optimistic about becoming a doctor. Grenada’s strong economy, enhanced by a rapidly growing tourism sector, meant that the family could feel safe and secure, and become truly invested in their future. Vasyl was also attracted by the speed at which his family could obtain a second citizenship – 60 business days – and, given the daily conflict they were surrounded by, speed was of the essence. Vasyl and his family were approved following a rigid due diligence process, which required him to provide details of his source of funds and family. They have since invested in Grenadian agriculture, which speaks to Vasyl’s love of food, and his first-born son is now on the way to becoming a veterinarian – a slightly different choice than initially expected. “Despite the wrench of leaving behind family and friends, we have never been this happy. To live without fear, and be assured that our investments are safe, means there is very little to worry about these days. It’s a life worth living,” concludes Vasyl.
*The name in this article has been changed to protect the privacy of the original subject.
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DUE DILIGENCE
Due Diligence: The Bedrock of Citizenship by Investment
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C
itizenship by investment traditionally found its place almost exclusively in the ‘national’ discourse, as it was primarily in the interest of current citizens to ensure that ‘new’ citizens were reputable individuals worthy of carrying their flag. Today however, as more nations abolish visa requirements and share information, citizenship by investment has become a topic of ‘international’ interest. Given this double scrutiny, due diligence has never been so important to the success and longevity of citizenship by investment. WHAT IS DUE DILIGENCE? Generally, due diligence is a technical procedure carried out by firms, businesses, and government agencies to mitigate risk and prevent criminal offence by understanding the background of the person or entity they are dealing with. In the context of citizenship by investment, countries can require applicants to supply biographical details, provide biometrical data, and collect documentation. The more devoted a country is to its due diligence, the more information is requested, particularly regarding the source of an applicant’s funds. This is usually evidenced by the provision of bank statements, audited account receipts, letters from certified accountants, and more. Perhaps even more telling is the adoption of multi-tiered due diligence systems. A simple due diligence choice is the ‘online verification check,’ something that only reveals information freely available to the public at the click of a button, or accessible through databases such as Thomson Reuter’s World Check. This generally sheds light on high-risk individuals and politically exposed persons. Much more fundamental to completing thorough due diligence is ‘on-the-ground verification.’ At its best, on-the-ground verification is performed by firms that understand the workings of the country where the applicant resides or does business, and that have extensive specialised knowledge and local expertise. Where information is difficult to obtain because of internal turmoil within a nation, cautious citizenship by investment jurisdictions will ban applicants with ties to that nation, or at the least employ heightened due diligence procedures.
To set themselves aside from the due diligence process and ensure greater transparency, most governments choose to outsource their due diligence activities to specialist independent firms. BDO, Kroll, S-RM, IPSA International, Bishops Services, and Thomson Reuters are all names that have been associated to the citizenship by investment arena. Furthermore, intergovernmental organisations, such as Interpol and, in the case of the Caribbean, the CARICOM’s Joint Regional Communications Centre (JRRC), may also be contacted to verify the name and details of an applicant. THE MERITS OF DUE DILIGENCE The information that is gathered following a detailed investigation of an applicant is useful both to the countries that perform – and at times commission – due diligence reviews and to the citizenship applicants themselves. Due diligence protocols allow governments to properly vet programme candidates, ensuring that only deserving individuals are awarded citizenship. A clear majority of the citizenship by investment nations are safe and stable jurisdictions with a calm social and political environment. By excluding rogue individuals who could potentially disrupt the peaceful existence of their citizens and public institutions, due diligence becomes central to national security. On a wider scale, due diligence also allows governments to comply with international standards on anti-money laundering and anti-terrorist financing set by intergovernmental organisations, such as the Financial Action Task Force (FATF), reinforcing their international standing and ensuring the backing of key allies. For applicants, the rigour and seriousness of the citizenship by investment process is appreciated for the positive reputation it bestows upon receipt of citizenship. If the path to citizenship is one that not everyone can take, and that involves overcoming serious tests of moral character, then completing that path is an objective of which one can be proud.
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HOW TO APPLY FOR CITIZENSHIP BY INVESTMENT IN
Dominica Contribution to the Economic Diversification Fund A ONE-OFF CONTRIBUTION TO DOMINICA’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
25,000 for each additional dependant
Processing Fee
3,000
3,000
3,000
3,000
per application
per application
per application
per application
7,500 Due Diligence Fee
7,500
main applicant
7,500 spouse
110,500
Total
193,000
7,500
7,500
main applicant
main applicant
7,500
7,500
spouse
spouse
4,000
4,000
per dependant aged 16 or over
per dependant aged 16 or over
218,000
243,000
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.
To obtain citizenship of Dominica through the Citizenship by Investment Programme, you can either:
Investment in Real Estate
2.
Contribute to the Economic Diversification Fund (EDF) or Invest 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 applicants undertake an independent valuation of the property they intend to purchase.
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 a further 2 years if the intended buyer is also an applicant for citizenship by investment.
Real Estate $
Minimum Required Investment Processing Fee
$
200,000
$
200,000
3,000
3,000
per application
per application
7,500 Due Dilligence Fee
Government Fee
Total
7,500
main applicant
7,500 spouse
25,000
235,000
35,000 for a main applicant applying with his or her spouse
253,000
$
200,000
200,000
3,000
3,000
per application
per application
7,500
7,500
main applicant
main applicant
7,500
7,500
spouse
spouse
4,000
4,000
per dependant aged 16 or over
per dependant aged 16 or over
35,000
50,000
for family up to 4 persons, including the main applicant
for family up to 6 persons, including the main applicant
253,000
268,000
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 18-28 or aged 55 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 Grenada’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
3,000
Due Diligence Fee
5,000
208,000
Total
$
$
200,000 plus 25,000
200,000
200,000
3,000
3,000
3,000
per person aged 18 or over
per person aged 18 or over
per person aged 18 or over
5,000 per person aged 18 or over
216,000
per additional dependant after the third dependant
2,000
2,000
per dependant aged 0-17
per dependant aged 0-17
5,000
5,000
per person aged 18 or over
per person aged 18 or over
2,000
2,000
per dependant aged 12-17
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. Bank charges may also apply. 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.
To obtain citizenship of Grenada through the Citizenship by Investment Programme, the applicant can either:
2.
Investment in Real Estate
Contribute to the National Transformation Fund (NTF) or Invest 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 applicants undertake an independent valuation of the investment they intends to make.
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
350,000
3,000
3,000
3,000
per person aged 18 or over
per person aged 18 or over
per person aged 18 or over
5,000 per person aged 18 or over
350,000
2,000
2,000
per dependant aged 0-17
per dependant aged 0-17
5,000
5,000
per person aged 18 or over
per person aged 18 or over
2,000
2,000
per dependant aged 12-17
per dependant aged 12-17
50,000 plus 25,000
50,000
50,000
50,000
408,000
416,000
420,000
per additional dependant after the 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. Bank charges may also apply. 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 established in 2006 with the primary purpose of assisting the country to transition from an economy dependent on sugar production, to one
that is diversified 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
$
300,000
$
300,000
300,000 plus 25,000 per additional dependant after the third dependant
Due Diligence Fee
7,500
257,500
Total
7,500
7,500
7,500
main applicant
main applicant
main applicant
4,000
4,000
4,000
per dependant aged 16 or over
per dependant aged 16 or over
per dependant aged 16 or over
311,500
311,500
336,500
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$25,000 is applicable where a dependant aged between 18-25 or aged 55 or 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: WWW.CIU.GOV.KN
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1.
There are two options that qualify an investor under the Programme:
2.
Contribution to the Sugar Industry 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. Government-approved real estate includes hotel developments and residential properties located on either St Kitts or Nevis, such as luxury villas and condominium units.
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 applicants undertake an independent valuation of the property they intend to purchase.
By investing in property, applicants may enjoy the added benefits of having a second or holiday home, and possibly receiving a return on their investment. Real estate may be re-sold after five years.
Real Estate $
Minimum Required Investment
Due Diligence Fee
Government Fee
Total
$
400,000
7,500
50,000
457,500
$
400,000
$
400,000
400,000
7,500
7,500
7,500
main applicant
main applicant
main applicant
4,000
4,000
4,000
per dependant aged 16 or over
per dependant aged 16 or over
per dependant aged 16 or over
50,000
50,000
50,000
main applicant
main applicant
main applicant
25,000
25,000
25,000
per dependant
per dependant
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 1830 or aged 55 or over is included in an application, except where that dependant is the main applicant’s spouse.
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Become a
CITIZEN OF THE WORLD with
CS Global Partners is the industry-leading legal advisory firm specialising in citizenship by investment and investor immigration solutions. The firm is comprised of an expert global team committed to assisting international businesspersons and their families in achieving increased mobility, security, and privacy through second citizenship. +44 (0)20 7318 4343 • info@csglobalpartners.com • www.csglobalpartners.com LONDON • ZURICH • HONG KONG • BEIJING • DUBAI • NEW DELHI • LAGOS • WINDHOEK • ST KITTS & NEVIS • SINGAPORE