Article for Respect Services CEO, Hani Alsadi, in Al Bayan newspaper
The region is seeing a growing demand for citizenship and residency by investment programs to attract foreign investments, improving infrastructure, and development projects, especially in the Caribbean. The Caribbean islands, part of the British Commonwealth, became very popular among Arab communities due to their citizenship programs, which grant a second passport within 3-6 months while maintaining the original nationality. St. Kitts & Nevis program is one of the first of its kind and it was launched in 1984.
Mr. Hani Alsadi CEO of Respect Services, the certified agent for citizenship by investment programs, said investors can apply for a second passport, affiliated with the British Commonwealth, by purchasing a real estate equity in one of the projects certified by the Caribbean governments, or through a non-refundable financial contribution to the government. Both options qualify investors to acquire a second passport within 3-6 months without renouncing the original citizenship, conditioned by proving financial solvency, security clearance and legitimate proof of funds.
Mr. Hani said these programs are now available for many average-income investors thanks to the high competition.
Acquiring a second passport can be achieved by purchasing a property or a real estate equity, starting at $200,000, with the possibility to resell after the mandatory holding period. Another alternative would be through direct financial contribution to the government, which value varies depending on the number and ages of applicants.
Saint Kitts and Nevis program is a very popular for citizenship by investment, as well as, Dominica, Grenada, Saint Lucia, Antigua and Barbuda, and Vanuatu.