Caribbean & Co. has launched an online course to educate high net worth individuals on how to secure a second passport through one of the 5 Caribbean Citizenship By Investment Programs located in Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis and Saint Lucia. The online course titled “7 Steps Citizenship” also provides insight on the 3 European Citizenship By Investment Programs located in Austria, Malta, and Cyprus.
“while securing a second citizenship and ultimately passport is now a US$2Billion industry, the level of transparency isn’t high, and most of the advisors are only working with and promoting a few of the programs. So I was inspired to create the 7 Steps Citizenship course after attending a number of Citizenship By Investment conferences and interviewing leading government officials, experts, and advisors regarding second citizenship. My goal is to create further awareness and present the information on the Citizenship By Investment Programs in an objective and thorough way so that potential candidates can make an informed decision about which program is right for them and their families.”
Barzey goes on to state that there are four main reasons why high net worth individuals primarily from China, Russia, and the Middle East seek a second passport:
“1. To achieve greater stability, freedom, and security due to the political unrest in their home country;
2. To have increased visa-free access to more countries for leisure and business travel than is possible with their current passport;
3. To seek out improved tax efficiencies and investment opportunities beyond their countries of origin; and
4. To find a higher standard of living and improved educational access and opportunities for their children.”
Post Brexit and Trump victory, the Caribbean and European Citizenship Programs are also attracting interest from British and American ultra high net worth individuals seeking second passports. The global elite no longer views a second passport as a luxury but a necessity.
The 7 Steps Citizenship course starts with an overview of Citizenship By Investment and a detailed outline of the seven steps process to successfully acquire a second passport. It then describes each the Citizenship By Investment Programs – 5 Caribbean & 3 European providing insight on relevant legislation, requirements, application process, investment options, fees, taxes, duality nationality, the list of visa-free countries and territories as well as additional resources. The course also provides access to five comparison charts to help candidates evaluate the Citizenship By Investment Programs based on their personal circumstances. There are also some worksheets for candidates to evaluate and keep track of progress.
St Kitts & Nevis launched the first Citizenship By Investment Program in 1984 to raise Foreign Direct Investment, and through the end of 2015, approximately 10,777 applicants had been granted citizenship and by extension second passports. Antigua & Barbuda launched their Citizenship By Investment Program in 2012, and it has received about 800 applications; 40% of the applicants are from China, and 20% are from the Middle East. Dominica launched their Citizenship By Investment Program in 1993; Grenada launched in 2013, and Saint Lucia launched in 2015. Via one of these Caribbean Citizenship By Investment Programs, a second passport can be secured in three to six months after undergoing due diligence background checks most often conducted by American and European agencies. The minimum investment for these programs ranges from US$100,000 to US$250,000 not including government processing and due diligence fees.
The 7 Steps Citizenship course, the first of its kind is quite timely considering the recent critique of the Citizenship By Investment Programs on CBS 60 Minutes and can be accessed via 7StepsCitizenship.com.
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