PART ONE. KEY FACTORS OF CARIBBEAN CITIZENSHIP & PASSPORT PART ONE. KEY FACTORS OF CARIBBEAN CITIZENSHIP & PASSPORT Most Trusted & Ranked – The Best Dual Citizenship Program for Decades The concept of Citizenship by Investment (CBI) dates back to the 1980s when Saint Kitts & Nevis and Dominica became the first countries to offer a citizenship program in exchange for investment. The program was created as a way to stimulate economic growth and development in the country. Over the years, other Caribbean countries, including Antigua & Barbuda, Grenada, and St. Lucia, have also introduced similar programs, making the region a popular destination for investors seeking second citizenship.The CBI Program of Dominica has been operating since 1993. This highly reputable program invites investors of good character to make an economic contribution towards the Country’s economy. With the passage of time amendments and improvements were made not only for the country’s development but also for individuals providing social and economic rights. Caribbean citizenship by investment programs become the most trusted citizenship program for decades. Protection of Your Civil Rights Citizenship by Investment (CBI) programs offered by Caribbean countries generally provide civil rights to individuals who obtain citizenship through these programs. As citizens of these countries, CBI holders are entitled to the same legal protections and rights as other citizens of the country, including the right to live and work in the country, access to education and healthcare, and the ability to participate in political and civic life. The most demanding things for individuals with a high net worth are the rights and protection for their investments, lives, health insurance, etc. The Caribbean countries that offer citizenship by investment (CBI) programs have made several amendments to their programs in recent years to attract more investors and improve the Civil rights of their programs. For example, in 2018, Antigua and Barbuda announced significant changes to its CBI program, including the introduction of new investment options, more stringent civil rights, and the establishment of a new Citizenship by Investment Unit to oversee the program. Similarly, in 2020, St. Kitts and Nevis and Dominica announced several changes to its CBI program, including the introduction of a limited-time offer that reduced the investment threshold for families, the establishment of a Sustainable Growth Fund to promote sustainable development, and the introduction of new due diligence procedures to improve the program’s integrity. According to the 2021 CBI Index, which ranks citizenship by investment programs based on factors such as reputation, quality of life, and processing time, the Dominica Citizenship by Investment Program is ranked as the world’s best program for the fourth consecutive year. The program scored high on various criteria, including affordability, processing time, and ease of travel. The Dominica Citizenship by Investment Program is also known for its commitment to transparency and due diligence, which helps to ensure the program’s integrity and prevent fraudulent activity. The program requires all applicants to undergo a thorough background check, and the government has established a specialized unit to oversee the program’s administration and processing with no discrimination. Table of Content Most Trusted & Ranked – The Best Dual Citizenship Program for Decades Protection of Your Civil Rights Headquarters MENA/UAE Region Book Your Free Consultation For more information consult WhinChester at: + [971] 52 208 9024 +1 [767] 440 8800 +1 [767] 275 8800 +[971] 58 645 3924 services@whinchesterpowerhouse.co.uk dominicaoffices@whinchesterpowerhouse.co.uk dubaioffices@whinchesterpowerhouse.co.uk 1/Flr British American Commercial Bldg. Office – Unit 1003B No. 4 Cross Lane, Roseau Commonwealth of Dominica No Restriction on Repatriation of Funds Most Caribbean Citizenship by Investment (CBI) programs do not impose restrictions on the repatriation of funds invested by applicants. Once an investor has completed the required investment in the program, they are generally free to transfer their funds back to their home country or any other country of their choice without any limitations. However, it’s important to note that there may be tax implications associated with repatriating funds, and investors should consult with their financial and tax advisors to ensure that they comply with any relevant tax laws and regulations at the receiving end. Furthermore, it’s important for investors to understand the program’s rules and regulations before making any investment decisions to avoid any unexpected limitations or restrictions on the repatriation of funds. Keep Your Hard Money – No Taxation It’s important to note that while Caribbean Citizenship by Investment (CBI) programs may offer certain tax benefits, the tax implications associated with obtaining a second citizenship can be complex and may vary depending on the investor’s country of origin, the laws of the country where they obtain citizenship, and other factors. In general, CBI programs may offer tax benefits such as lower tax rates, exemptions from certain taxes, or tax holidays. However, it’s important to note that investors should consult with their tax advisors to understand their specific tax obligations and determine how obtaining a second citizenship may impact their tax liabilities. Moreover, while some Caribbean countries may have lower tax rates or offer certain tax incentives, they still impose taxes on their citizens and residents, including income tax, property tax, and value-added tax (VAT). CBI holders are generally subject to the same tax laws and regulations as other citizens of the country. In summary, while Caribbean CBI programs may offer certain tax benefits, investors should consult us with our tax advisors to understand their specific tax obligations and determine how obtaining a second citizenship may impact their tax liabilities. Rapidly Growing Economy Caribbean countries that offer Citizenship by Investment (CBI) programs have experienced significant economic growth in recent years. These countries have implemented policies to attract foreign investment, stimulate economic growth, and diversify their economies beyond tourism and other traditional sectors. For example, St. Kitts and Nevis have implemented several initiatives to attract foreign investment and stimulate economic growth, including the creation of the Sustainable Growth Fund, which aims to promote sustainable development by investing in infrastructure, education, and other priority areas. The country has also introduced various tax incentives and established special economic… Continue reading Part One – Key Factors Of Caribbean Citizenship & Passport