We would all love to take a luxurious holiday in one of the Caribbean’s many idyllic islands. But what if the holiday never had to end? The Caribbean has never been more attractive to foreign investors, and with citizenship by investment initiatives available on many of the islands, your dream of living in paradise could be possible.
Why you should live in the Caribbean
The sun-soaked islands of the Caribbean never fail to summon up romantic images of forgotten beaches, untouched wildlife and a vibrant yet laidback lifestyle. The sheer beauty of the region lures tourists in their thousands, with more and more holidaymakers heading there each year.
Tourism is paramount to the sustained economic growth of the Caribbean. Around 15% of jobs are either directly or indirectly supported by the tourism industry and the total annual contribution of travel and tourism to the Caribbean’s GDP is set to top $70 billion by 2025.
The positive impacts of tourism on economic growth have been felt most in the smaller emerging economies. Grenada, St Kitts and Nevis and the Turks and Caicos Islands each experienced growth of more than 4% in 2015.
However, many foreign nationals yearn for a more permanent life on paradise and some are making their dream a reality. Increasingly, high-net worth individuals are, via citizenship by investment programmes and exciting real-estate opportunities, taking the opportunity to start a new life in the Caribbean.
Why you should invest in the Caribbean
Citizenship by investment is a government-led programme which aims to attract foreign investment to help grow the country’s economy. The funds generated through CBI are often used to boost the health care, security, education and job prospects of its citizens.
Economic citizenship can usually be achieved by contributing a set amount to a government fund or investing in approved real estate projects. This means that foreign nationals can live there as a resident whilst making a positive contribution to the local economy.
St Kitts and Nevis was the first Caribbean nation to introduce citizenship by investment in 1984. Today, citizenship by investment is now available on many Caribbean islands. For instance, Grenada introduced their citizenship by investment programme in 2013, while St Lucia became the latest Caribbean nation to join the growing trend earlier this year.
As luck would have it, 2017 may well be the perfect time to invest in Caribbean property as the local real estate sector is strong. In fact, the island of Grenada has been named as one of the top 10 best places to own property.
Investing in the Caribbean shouldn’t just be a financial decision. Citizenship by investment offers a number of benefits to high net worth individuals including a higher standard of living, increased options for children’s education and greater mobility when it comes to worldwide travel.
Why you shouldn’t necessarily pick the obvious choice
A whole host of Caribbean nations have introduced citizen by investment programmes. Which island you choose to move to depends largely on your circumstance and taste.
Dominica, the nature island of the Caribbean, has an extensive natural park system and is perfect for those seeking a little adventure. Grenada is largely undiscovered and is particularly popular with scuba divers, sailors and other marine enthusiasts. And no matter where you choose to live on the island of St Lucia, you will be guaranteed jaw-dropping views.
Citizenship by investment is widely considered to be a safe venture and, while it may not be on everybody’s radar, it presents the perfect opportunity to start a new life in the sun.