We often get questions concerning how to acquire dual citizenship and the second passport that comes with it. Folks want to know how it can be done, and why they should consider it.
We start by assuring them that dual citizenship is legal under American law, as it is in many nations, and that the U.S. Supreme Court upheld this right in several cases decades ago. And of course, if the person is interested in “expatriation,” the formal act of surrendering U.S. citizenship (also a legal right), I explain that they certainly need a second citizenship to avoid becoming a man (or woman) without a country, a modern day version of Edward Everett Hale’s disturbing novel from 1917.
A second nationality is a hedge against unforeseen events. It provides the option to legally reside and work in another country that may offer tax advantages. Most countries require a foreigner to become a resident and live there for an average of five years or more before they are granted citizenship. But there are a few quick routes to a second passports.
The first option known as “economic citizenship” and only two sovereign nations sell it, both tropical island tax havens in the Caribbean—the Commonwealth of Dominica and St. Kitts/Nevis. The other option is a passport using VIP Service from Dominican Republic.
Escape from America
Using the excuse of drug wars and anti-terrorism, plus imposing excessive taxation, government controls on private capital and travel restrictions are becoming more prevalent around the world. Smart people of wealth naturally are seeking alternatives that allow them to protect their assets and income and to travel freely throughout the world. And, in the case of the United States, the only way to escape from taxes is to end your citizenship.
These nations want to create jobs, accelerate resort development and grow their tourist industries by bringing in more money. The laws provide a foreigner with instant citizenship, a new passport, and permanent residence, if desired.
St. Kitts & Nevis is an independent English-speaking island state situated in the northern part of the Leeward Islands in the eastern Caribbean. The federation is made up of two islands, St. Kitts and the smaller Nevis, separated by a channel two miles wide. It is a former British colony, a member of the British Commonwealth of Nations and the United Nations. It has a pleasant climate, particularly during the cool months from December to March. Humidity is relatively low, and constant northeast trade winds keep the islands cool.
St. Kitts & Nevis offers good opportunities for investors and manufacturers. The workforce is well-educated, English-speaking and friendly. Other advantages include tax breaks of up to 15 years, repatriation of profits and the possibility of tax-free entry of produced goods into the U.S. market. Substantial European import benefits also apply. There are no income taxes and no net wealth taxes in St. Kitts & Nevis.
St. Kitts & Nevis labels their instant citizenship plan, “Citizenship-by-Investment Program.” To qualify for citizenship, the government requires a real estate investment of at least US$350,000. The islands are an attractive place to own real estate, and there are some excellent real estate developments approved under the program. The new citizen is not required to spend any set period of time on the islands each year.
Additional costs include official government fees of US$35,000 for a single applicant, plus US$15,000 for each dependant. There are also application/professional fees of US$15,000 (same as with Dominica) per application and a US$2,500 due diligence fee per adult applicant. They require a reasonable amount of documentation for the application, and the application procedure itself is fairly simple.
The St. Kitts & Nevis passport is relatively well regarded since only a relatively limited number of passports have been issued under this citizenship-by-investment program during its nearly 20 years of existence. As a result, St. Kitts & Nevis citizens enjoy a passport with a good reputation and good visa-free travel. For example, passport holders still have visa-free access to Canada. Visa-free travel throughout continental Europe is also available by combining St. Kitts & Nevis citizenship with a residence permit in European Union countries.
A Passport of the Commonwealth of Dominica
Dominica is often called “The Nature Island of the Caribbean.” It’s a small, beautiful island located in the eastern Caribbean between the French islands of Martinique and Guadeloupe. Independent since 1978, Dominica is English-speaking and a member of the British Commonwealth. It has a Westminster-style parliamentary government, free elections and peaceful transfer of power. There is a strong currency and almost no crime. Unlike some other states offering economic citizenship, Dominica has a good reputation.
The economic citizenship program has operated successfully since 1991, and it is based on a solid legal foundation in the Constitution of Dominica. A limited quota of applications has been set by the government.
There are now two options for obtaining citizenship: a Family Option and a Single Option. Under the Family Option, the applicant pays US$100,000, which qualifies the applicant, his or her spouse and two children under 18 years old for citizenship. An additional US$25,000 per child is required for each child under 25 years old. Under the Single Option, a single applicant pays US$75,000. In addition to the above additional application, agent and registration fees amount to approximately US$26,200. There is also a US$5,000 due diligence fee per person.
A Passport from Dominican Republic
The Dominican Republic (Spanish: República Dominicana, no to be confused with Dominica) is a nation on the island of Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are occupied by two countries, Saint Martin being the other. Both by area and population, the Dominican Republic is the second largest Caribbean nation (after Cuba), with 48,442 km² and an estimated 10 million people.
The Dominican Republic has become the Caribbean's second largest tourist destination after Puerto Rico; the country's year–round golf courses are among the top attractions.[12] In this mountainous country is located the Caribbean's highest mountain, Pico Duarte, as is Lake Enriquillo, the Caribbean's largest lake. Quisqueya, as Dominicans often call their country, has a mild average temperature (26 °C) and is outstanding for its great biological diversity.
The Dominican Republic has a relatively inexpensive and simple process
for citizenship. For the cost involved, and the waiting period of 18 months, the Dominican Citizenship is one of the most economical ways to obtain a legal and official second passport. And, you don't have to relocate permanently to enjoy its benefits. The Dominican government also permits dual citizenship, therefore, you will not have to renounce your current passport in the process. Complete cost: under $25,000.
We can procure any of these passports for you. Contact us at BankerTrust@gmail.com
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