Over the past couple of years, there has been a great demand for second citizenship among the UAE residents. More and more UAE nationals are acquiring a second passport in countries like the Caribbean, Canada, the US, the UK, and many others.
While the UAE passport is among the most powerful passports in the world, experts state that the desire for easier mobility and better financial profits has increased the demand for citizenship by investment programs among UAE nationals.
The global pandemic has also played a vital role in creating this surge because people have become more vigilant about travel freedom post the COVID-19 pandemic.
Going by the stats from the year 2018, the demand for citizenship increased by 30% in the UAE. During the pandemic time, the enquiries for CBI programs rose by 60%. In the present year too, the number is consistently on the rise.
There are many countries offering citizenship by investment program but among all, UAE residents desire the Caribbean region the more.
In this blog, we will understand what makes the Caribbean nations so popular for second citizenship and why more and more UAE residents are applying for citizenship in these nations.
Caribbean Nations and CBI Programs
The Caribbean islands have long been the center of attraction for tourists who visit the idyllic place to unwind and relax. Thanks to the natural landscape that Caribbean nations provide, the countries indeed are a sanctuary for peace.
From the serene landscape, and calming weather, to the pristine beaches; Caribbean islands are blessed with abundant natural beauty.
And while tourists turn to these nations to bask in nature, investors are also choosing the Caribbean for a better future and Plan B.
The CBI programs by Caribbean nations are all government-run and allow foreign investors to acquire citizenship in exchange for a contribution to the country’s economy or a suitable investment in approved sectors like real estate.
With Caribbean citizenship, you get to acquire a second passport and become eligible for many benefits that the island nations offer to citizens.
Caribbean citizenship offers you substantial benefits such as:
- Attractive tax policies that allow you to manage your financial assets better
- No requirement for residency, the entire process is done remotely
- Lucrative investment opportunities
- Freedom of travel, visa-free access to over 160 countries
- Lifestyle nestled among nature
Caribbean nations that offer citizenship by investment programs and the ones that are mostly in demand by UAE residents include:
Caribbean CBI Programs Popularity in UAE
The benefits associated with Caribbean citizenship programs are what attract UAE residents. With a second passport from the Caribbean, individuals get access to increased global mobility and flexibility in terms of travel and business opportunities.
UAE residents, who are known for leading international lifestyles, love exploring new destinations and expanding their horizons. And with a second passport, they get to do it with ease.
Furthermore, second citizenship also offers enhanced security and stability, especially in uncertain times like the pandemic. It provides an additional layer of protection, as having citizenship in multiple countries allows individuals to access different legal systems and benefit from diplomatic support.
One more aspect that contributes significantly to the rise of second citizenship demand from the Caribbean is the increasing ease of communication and globalization that make people seek opportunities beyond their home countries. A second passport is also a means to embracing global citizenship.
Driven by the desire for greater global connectivity, enhanced security, and expanded opportunities, more and more UAE residents are looking to get Caribbean citizenship.
And this trend is only to see more surge in the coming years as even the countries offering CBI programs are making further enhancements to accommodate the needs and requirements of people seeking a second passport.
If you also need to know more about the citizenship by investment program in the Caribbean, reach out to one of our experts at +971 4 512 4444 or visit https://aaa-international.com/