The concept of dual citizenship has gained substantial popularity worldwide in recent years. The primary reason is the fact that dual citizenship allows individuals to enjoy the benefits and privileges of multiple nationalities. The demand for dual citizenship has been rising from different corners of the world including the United Arab Emirates (UAE) – which itself is home to a diverse expatriate population.
Many UAE expats are seeking to expand their horizons and secure a second passport for various reasons. And among the range of options available, Caribbean passports have emerged as a popular choice for UAE residents seeking dual citizenship.
Let’s delve into the Caribbean passports most invested in by UAE residents and understand the factors driving this trend.
St. Kitts and Nevis
St. Kitts and Nevis, a stunning twin-island nation in the Caribbean, pioneered the concept of citizenship by investment (CBI) programs. The country’s Citizenship by Investment Program, established in 1984, has become highly sought after by UAE residents seeking second citizenship. The program offers individuals and their families the opportunity to obtain citizenship in exchange for a significant investment in the country’s economy, such as real estate or a contribution government-approved fund. The St. Kitts and Nevis passport grants visa-free or visa-on-arrival access to over 150 countries, including key business and travel destinations.
Dominica
Dominica, known as the “Nature Isle of the Caribbean” has also gained popularity among UAE residents seeking dual citizenship through its Citizenship by Investment Program. Established in 1993, the program offers a straightforward pathway to citizenship for applicants who make a qualifying investment in the country’s economy. The investment options include contributions to the Economic Diversification Fund or investments in approved real estate projects. The Dominica passport provides visa-free or visa-on-arrival access to over 140 countries, making it an attractive option for UAE residents with global mobility requirements.
Grenada
Grenada, often referred to as the “Spice Isle,” is another Caribbean nation that offers a Citizenship by Investment Program appealing to UAE residents. Established in 2013, the program enables individuals and their families to obtain Grenadian citizenship by making a qualifying investment, such as a contribution to the National Transformation Fund or investments in approved real estate projects. The Grenada passport allows visa-free or visa-on-arrival access to over 140 countries, including the UK, EU, and the Schengen states. Grenada is also the only Caribbean country to have the E-2 investor visa with the US that helps businessmen to access the US market with ease.
Antigua and Barbuda
The twin-island nation of Antigua and Barbuda has also attracted UAE residents seeking dual citizenship through its Citizenship by Investment Program. Established in 2013, the program offers various investment options, including contributions to the National Development Fund, investments in approved real estate or establishing a business in the country. The Antigua and Barbuda passport allows visa-free or visa-on-arrival access to over 150 countries, including the EU Schengen states and the UK.
Reasons for Choosing Caribbean Passports
Several factors contribute to the popularity of Caribbean passports among UAE residents seeking dual citizenship. These include:
Visa-free travel:
Caribbean passports offer visa-free or visa-on-arrival access to numerous countries, allowing holders to travel for business or leisure without cumbersome visa application processes.
Lifestyle and quality of life:
The Caribbean region is renowned for its pristine beaches, natural beauty, and relaxed lifestyle. UAE residents seeking second citizenship are drawn to the prospect of owning property or enjoying vacation homes in these idyllic destinations.
Business and investment opportunities:
The Caribbean countries offering citizenship by investment programs provide favorable business environments and opportunities for investors. The programs can facilitate business expansion and diversification for UAE residents looking to invest in new markets.
Security and stability:
The Caribbean nations with well-established CBI programs have political stability, strong legal frameworks,
Easy Access to Canada:
As per the new policy by Canada, certain Caribbean countries like Antigua and Barbuda, St Lucia, and St Kitts & Nevis are now added in the list of 13 countries that will be allowed to travel to Canada visa-free. Citizens from these nations will be eligible for eTA if they have held Canadian visa in the past 10 years or are currently holding a non-immigrant US visa.
With UAE residents choosing Caribbean nations as their second home, the market for these countries have grown wider. Investors from across the globe are turning to the Caribbean, seeking growth and expansion.
If you are also interested in making the Caribbean your new home, reach out to one of our experts at https://aaa-international.com/ or call +971 4 512 4444