Due to the pandemic, a lot of people, mostly Business Executives, are investing in second citizenship by Investment Programs in the Caribbean countries and obtaining citizenship in these countries.
In the present era, when uncertainty and fear loom over the world because of the COVID-19 health crisis, people have been trapped in their homes, and movement has been restricted.
Second Citizenship: How COVID-19 Affected Relocation?
The pandemic has not only affected the movement of people and other social gatherings but has also delivered a striking blow to the economies of various nations in the world.
Getting a second citizenship comes with many advantages, including visa-free travel and a ”Plan B” residency to name just a few.
The journey to obtaining a second citizenship or a new residence though differs for every person, is an amazing experience.
From a financial and lifestyle standpoint, owning second citizenship spawns multiple advantages, with major advantages highlighted below;
• Lifestyle benefits: Citizenship by investment programmes often provide the investor and their families with access to better basic services such as healthcare, education, security and transport.
• Financial benefits: Some citizenship by investment programmes offer investors returns on their investment of up to 12% and sometimes a buy-back guarantee once the investor qualifies for citizenship.
• Unrestricted travel: Freedom of travel is one of the major benefits of these programmes. Visa applications can be a costly, time consuming and a generally frustrating procedure. Buying into a citizenship programme will eliminate the need to apply for visas as the programmes offered by us allow investors to travel visa-free to most countries in the world,
• Tax breaks: Through gaining second citizenship, investors are also often able to enjoy tax breaks as well as the possibility of improved personal and corporate tax exposure