Americans Acquire Passports Through The Caribbean Citizenship by Investment Programs/
Due to the global situation that has led to a downturn in tourism, Caribbean countries have revised their Citizenship by Investment programs to attract even more investors. For example, in Saint Kitts and Nevis, a family of four can obtain passports by investing US$150,000 in the Sustainable Growth Fund instead of US$195,000. It is the first country to revise its program and offer preferential prices.
“In these days of COVID, when tourism is not happening, we have to find ways to create revenue to sustain our economy,” said Les Khan, CEO of St. Kitts and Nevis Citizenship Investment Unit, speaking to Bloomberg.
The island nation helped develop and kick-start the idea of citizenship by investment, which has grown into a billion-dollar industry, Bloomberg said.
Citizenship is currently being sold to Americans and other citizens of the Caribbean country from US$100,000. Les Khan especially notes the high demand for citizenship from Chinese and Middle Eastern investors.
For Saint Lucia, the country offers the option to purchase five-year interest-free bonds from US$250,000 for one applicant or US$300,000 for a family of four. The offer is limited and valid until the end of 2020.
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