This “Almost Free” Caribbean Citizenship is Back

there's one Caribbean citizenship that is bringing back what I call it's almost free citizenship offer and it's available at a discount I'm going to give you all the details [Music] typically recap we've talked about this a lot on the channel citizenship by investment is a way to Fast Track your way to a second citizenship so that you are in control of your financial and personal life no one government controls you you have options and if you don't have uh citizenship by ancestry or it takes too long to get or it's nebulous to get or you're not sure if you'll be approved if you don't want to relocate somewhere else if you don't have other paths to get citizenship or if you're trying to build a multi-pronged a passport portfolio then citizenship by investment fits in very well the challenge is unless you want to start spending larger amounts of money most of the more affordable programs are based on the donation but there's one program that allows you to bypass the donation and actually get your money back and now it's at a discount if it's your first time here I'm Andrew Henderson founder of nomad capitalist where boaty consulting firm that helps seven and eight figure entrepreneurs and investors legally go where you're treated best having a second citizenship planning to reduce your taxes protecting your assets and living a free life for yourself and your family can learn more don't capitalist.com and we're talking about all these second citizenships every year at our annual event called nomed capitalist live so most citizenship in the Caribbean that's what we're focused today five programs antique and Barbuda Saint Kitts and Nevis Dominica Grenada St Lucia those are the five are going to be donation based they have real estate options Saint Kitts and Nevis is being the most flexible the issue is even if the more flexible program what's the liquidity in Saint Kitts and Nevis and especially seeing that most people coming there are probably looking for citizenship by investment I just think you've got a lot of fewer options nothing wrong with living unsync kids and Avis and we've helped a couple of people actually relocate to Antigua and descent kits and they've bought property or in one case rented property if you want a lifestyle purchase nothing wrong with that but buying property even if it's an open market in a Caribbean country how many islands are there that someone can choose to buy property on especially when one is being pushed because it has citizenship my investment is an offering that could always change dollar amounts can go up they could go down and so that's a challenge most the other real estate Investments are buy into my hotel or buy a share of something and we'll pay you you know two percent a year and in some cases we're just giving your own money back hey there's some pretty honest people in the business but a lot of them are they don't even get built in some cases uh and so there's all kinds of schemes and scams in that area even if it's not a scheme or a scam it's just generally not a good investment I mean investing and just donating a hundred thousand dollars versus tying up 250 and in five years you get it back with nothing and it just and again the government can change the program so if you're going to the Caribbean in my opinion you want to make a donation there's one exception and that's where this quote unquote almost free my words not theirs program comes in and that's in St Lucia St Lucia was my personal choice for citizenship by investment I talked about that in a separate episode why I chose that does not mean that you should choose it does not does not mean I would choose it again all these years later but I'm happy with the decision and so what they have is they have had a covid-19 relief Bond they have extended the discount of this thing after every other Caribbean island has stopped extending Cova discounts and what this allows you to do is rather than make the hundred thousand dollar donation or if you've got a family that's more than a hundred thousand dollars right uh you can't actually invest in this covid-19 relief Bond normally half a million dollars now it's down to 250 000 uh and so um you can ostensibly get that money back it's a non-interest bearing months you're not going to make any interest on that so there is an opportunity cost if you think hey I can put my money um there's banks in Singapore now they'll pay you three percent on your US Dollars hey I was I was going to put that 250 in Singapore that's 7 500 bucks a year uh depending on whether it's five six years whatever the term is we'll get to that in a minute uh hey you know here's what I'm losing okay so you have to consider that if you're saying hey I'm investing in something that's going through the roof I'm an options Trader I think I've got to play when crypto comes back in five years I've got a business to invest in obviously the opportunity cost may be much higher this is why you know now that turkey is citizenship by investment program which is a genuine open market investment in a country that's a real economy four hundred thousand dollars all right anyone who has an opportunity cost issue would rather pay a hundred thousand dollars get the passport that's a better quality passport for most people because the opportunity cost not remaining three hundred thousand dollars even though they could sell the property in Turkey for 400 or 375 or four and a quarter or whatever if they buy it correctly hey you know what I don't want to tie up my money for three years and I have to sell it it's just easier to write the check okay so you've got to consider the opportunity cost of the Delta between 100 for St Lucia and in 250. um but let me run into the numbers you've got until December 31st 2022 uh to do this uh five-year holding Bond 250 000 if it's just you 255 years you're tied in you don't make any interest if you have a qualifying dependent they bump it up to six years so you and a spouse they bump it up now it's more than a hundred thousand dollars for you and a spouse okay if you have up to a family of four Antigua is the cheapest it's certainly not the most efficient but antique is the cheapest so you wouldn't go to uh St Lucia the goal was cutting the cost down to the minimum unless you're single so if you have two you have a better deal 250 versus another program's cheapest 130 right so now you've got 120 000 Delta but you've got to hold that interest free for six years so even if you you know we're just planning on keeping that money in a term deposit someone where you know what is that going to be forty five thousand dollars in opportunity cost and probably you could do better on that if you have up to four qualifying defendants so it's you a spouse several kids 250 they put it at seven years or 305 years and then if you have more people than that then you have to bump it up basically 15 grand at a time and so you need to figure out for your particular situations we help people figure out uh all the time uh which is the best option and we ask questions like yeah let's talk about opportunity cost where are you putting your money right certainly this could be a diversification option not interest bearing so perhaps not a very good one but this could be a diversification option we could say hey I don't want to keep all my money in the United States if you're a bond investor maybe you want to put it there we've had a few clients over the years where they're like hey you know Angela I said on five million dollars in the bank at all times that's my liquidity I just like to see five million dollars in my bank okay you know you're probably not going to miss 250 or 300 you're not making much in the bank these days uh and so you just move it down there and you save yourself a donation now a couple things you want to be aware of number one I saw some ad zero processing fees and for a minute I said did I go crazy like is there is it is it just totally free deal put your money in bonds and then just just okay you have to pay that you've got to pay the due diligence you've got to pay the agents you've got to pay the people to do the work you've got to collect the documents there are some decent costs to citizenship by investment but there's cost to any residence or citizenship program you need documents you need lawyers you need you know we help people do this I said are there no fees no this is the trick these people use so be careful zero processing fees yeah but there's a thirty thousand dollar admin fee upon approval so you're paying uh you're paying that admin fee so there is a cost okay and that is because rather than getting a donation uh they're just getting bonds sure they're happy to take your money for bonds and they're not paying you interested they're saving something there but you know they still have a you know citizenship by investment unit they need to get paid and so it's all right pay us the thirty thousand dollars uh and that helps them run the unit and do all the things that they need to do so you can look at it as you know 30 30 sunk and let's say you know you've got a family of five uh you know 250 tied up for seven years right and so again what would you do that 250 over the course the next seven years again what's the next cheapest program going to be you're going to save about a hundred thousand dollars over the donation if you took the cheapest option maybe you happen to prefer St Lucia but if you're just agnostic to which country uh you're going to the Caribbean it gives me about a hundred thousand dollars in cash minus the thirty so the question is is it worth saving let's say in this example seventy thousand dollars to tie up 250 for seven years or is it worth saving a hundred and fifty thousand dollars if I'm single to tie up or sorry 120 000 right 250 minus a hundred difference in the offering 150 minus the thirty 120 is it worth saving 120 if I'm single to tie up 250 for five years you've got to ask yourself that question the other cost of due diligence all that's going to be uh the same basically so don't fall for the zero processing fees thing there are some other fees so kind of like a donation the admin fee is due on approval so you don't need that money now but you need to show that you have it uh I also see people promoting that you can get this done in 90 days approvals might take three to four months um maybe sometimes five if you're from the West it's probably gonna be a little bit faster than if you're from an emerging country that requires more due diligence uh but you also have to collect your documents in there and so I think the idea that someone thinks that they're going to start today and get citizenship in three months and they're not going to pay any additional fees they're just going to send their money down there that's nonsense okay there are again due diligence and admin all those kinds of fees there's this approval fee basically but if you still do that math you can look at the fact that citizenship by investment in the Caribbean gives you a citizenship in a country that's not going to bother you they're not going to chase you around the world they have pretty decent visa-free travel all over the world you can go to the UK you can go to Ireland you can go to Europe you can go to Southeast days you can go to a good chunk of what St Lucia is good for is Central America for example so if that's your part of the world and you don't want to get a visa for those countries then you're good right St Lucia is one of the weaker passports of the five in terms of Visa free travel for the average person that may not matter right if you're going to keep your us or other passport that may not matter if you're like me and you had other passports that fill in some of the the holes that may not matter right Dominica for the same price point in St Lucia with the donation you can go to Russia and China a lot of people don't care about that especially today right so you might like St Lucia uh better so I'm never here to tell you what the best program is because the best program is tailored to you and we do that by we find out by asking you a whole bunch of questions and prescribing it by the way the best citizenship for you may not be a citizenship by investment at all maybe one that you don't realize you're entitled to and you can get that instead but if you want to not make a donation and get Caribbean citizenship without the obligation to be holding reels that you've got to dump you just buy bonds you get rid of them in five six seven years this could be an option to consider for folks with higher liquidity and it ends December 31st 2022.

Channel: Nomad Capitalist

Views: 103,020

Keywords: nomad capitalist

Id: vTjOvGCUiTY

Length: 10min 31sec (631 seconds)

Published: Tue Sep 13 2022