In October, the Citizenship by Investment Programme of Caribbean island Saint Lucia unveiled its new brand identity and website. With its contemporary and clean branding and content-rich, easy-to-use website, the programme’s unit has upped the ante in the global CBI programme stakes as it continues to grow during the pandemic.
While applications to Antigua & Barbuda’s successful citizenship by investment programme have continued throughout the pandemic, the numbers of applications have only recently returned to what they were pre-coronavirus, according to the Caribbean nation’s Citizenship by Investment Unit.
With the UK set to leave the EU on December 31, and with no deal looking likely, citizenship firms have witnessed a spike in British HNWIs looking to obtain second passports or residency permits via economic residency or citizenship in order to secure easier access to the EU come 2021, with Malta, Portugal and even the Caribbean in demand.
Driven by the rapidly increased demand in the Middle East region for citizenship by investment due to the pandemic, leading Dubai-based CBI advisory group RIF Trust has unveiled the CART Programme, which is aimed at empowering its partners to succeed.
In July 2020, the tourism-reliant Caribbean island of Barbados unveiled a 12-month visa to attract remote workers, and then in September, announced its intention to become a republic next year. With the pandemic having hit its tourism sector hard, could Barbados be revisit its plan from 2016 to launch a citizenship by investment programme?
With Greece’s Residency by Investment programme seeming currently on hold but with plans to continue post-pandemic, and the Greek government looking to boost its struggling economy, the country has announced an attractive flat income tax rate of 7% for overseas retirees, in an attempt to woo foreign pensioners to its stunning shores to live out their retirement.
While, predictably, the pandemic has triggered a sharp increase in demand for citizenship by investment, unpredictably, coronavirus has changed the who, why and where of the CBI landscape, with applicants from unexpected countries surging, reasons for economic citizenship changing, and some CBI countries really standing out from the citizenship crowd.
As one of just two Citizenship by Investment Programmes worldwide (and the only one in the Caribbean) that allows its citizens to enter, invest and work in the US via the E-2 Investor visa treaty, Grenada’s CIP is proving increasingly popular with HNWIs, especially from India and China, where there is increased private wealth.
With the coronavirus pandemic continuing to create instability worldwide, and economic migration offering both an insurance policy and the option for a better life, there has been a huge spike in demand for citizenship by investment from high-net-worth investors in African, especially Nigerians and South Africans.
The government of Dominica has expanded its citizenship by investment opportunities, which includes its successful CBI programme, with the launch of a brand-new initiative. The Entrepreneur Visa Program lets foreigners acquire a residency permit to Dominica, from which they can then obtain citizenship, in exchange for investment in the country.