With the continually increasing cases of coronavirus in the United States and no end in sight, the value of the U.S. passport has tanked in terms of how many places you can go with it.
For most of us who only have one passport, it means a decrease in where we can travel internationally. But for those who have have a significant amount of money to spare, there’s good news! In an effort to get more cash, some Caribbean countries are offering citizenship, in exchange for monetary investment, at a reduced price. With citizenship comes a passport, and having a secondary passport could potentially gain you access into a country you can’t get into right now.
Gaining citizenship via investment isn’t a new concept. In fact, we covered what it’s all about not all that long ago. Most countries charge several hundred thousand dollars, either in the form of donation or real estate investment, if not both, to say nothing of the hoops you may be required to jump through.
However according to Business Insider, a bunch of Caribbean countries are really hurting financially, so they’re making it significantly cheaper and easier to claim yourself as a Caribbean citizen and therefore able to have a passport from the said country – many of which currently allow you to travel to Europe.
For example, St. Kitts and Nevis is currently selling a four-person family package for $150,000 (it’s usually $190,000). The package requires you to purchase real estate in the island nation – minimum purchase of $200,000 if you hold the property for 7 years, or $400,000 if you hold it for just 5 years.
In exchange for this, your party would be eligible to obtain passports from St. Kitts and Nevis, which offers visa-free entry to 152 countries, currently including the U.K. and EU.
Perhaps best of all, you wouldn’t even have to visit St. Kitts and Nevis – you can do everything remotely, and have your new passport in about 2-3 months.
BUT HURRY! This offer ends December, 2020.
St. Lucia is offering a similar “sale.” Through December 31, 2020, minimum investment in a 5-year, non-interest-bearing government bond has been deeply discounted, by nearly half.
If you’re interested in citizenship from Antigua and Barbuda, they also have a “sale,” through October 31, 2020. Individual applicants normally may purchase property valued at a minimum of US$400,000 in a preapproved real estate development area, and hold said property for 5 years. But right now Two (2) applications from related parties can make a joint investment, with each applicant investing a minimum of US $200,000. So that’s, like 50% off per couple ;-).
Of course, regardless of which country you’re talking about, it’s a lot of money to invest, just to get a passport. But for those who think it could be an option, welp, now you know about the “sales” ;-).
*** Feature Image: Pete Jelliffe/flickr
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This post first appeared on Your Mileage May Vary