Saudi’s push 70% Increase in CIP
Demand for second passports for both Caribbean and some European countries, in the last quarter of 2017, increased by over 70%. High net worth families and residents of Saudi Arabia and other Middle East Countries were the majority of applicants.
This demand is mainly driven by political and economic difficulties in the Middle East, in addition to stringent immigration policies applied by European nations and countries like the US on a number of Arab countries, which is creating an urgency for applicants to obtain a second citizenship for themselves, their families and their businesses.
Obtaining a European or a Caribbean passport has become a crucial requirement for Middle Eastern high net worth individuals. These countries passports provide people in the Gulf with a sense of security for their families and businesses, as well as freedom of movement that otherwise they would not have with their original passports.
Dominica, Antigua, Grenada and St Lucia all have a fast-track Citizenship by Investment Programmes, which offer a powerful passport that allows visa-free entry up to 146 countries. These countries include nations under the Schengen zone as well as the UK, China, Singapore and Russia; a really popular destination as it plays host to the World Cup this summer. CIP will make your trip visa free.
Caribbean countries also have strong ties with the GCC (Gulf Cooperation Council) the political and economic alliance of six Middle Eastern countries—Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman which makes countries like Dominica an obvious choice for investors. It and other Eastern Caribbean countries such as St Lucia, Antigua and Grenada also offer highly competitive rates and an accessible process for both infrastructure investment and real estate opportunities.