With world economies opening up and showing signs of recovery, Caribbean citizenship programs are experiencing a sharp increase in applications from the wealthy all over the world and the numbers are only rising. Programs like Grenada’s citizenship by investment, in particular, has taken one of the leading positions among second citizenship seekers.
These passports, typically obtained through citizenship by investment (CBI) programmes, allow their holders to not only manage their assets strategically but also provide a sense of security for their families in case of any political or other volatility in the home country.
“Obtaining citizenship by investment offers a hedge against political, social and economic anxieties – especially for investors residing in emerging markets such as Nigeria,” says Mohammed Asaria, managing director of Range Developments, a renowned government-approved developer of luxury hotels under citizenship by investment programs in the Caribbean.
“The number of high-net-worth Nigerian clients approaching us has risen exponentially in recent months as individuals grow increasing interested in providing better opportunities for their families in times of pandemic,” he adds.
For an investment of US$220,000 plus government fees, Nigerians can obtain a share in Range Developments’ Six Senses development as well as citizenship of the Caribbean Island of Grenada. It’s not just cost that’s efficient – the entire process can be done within 4-5 months, without the investor even setting foot in the country.
Finally, Grenada is a signatory to the US E-2 treaty, which means holding a Grenada citizenship allows easier access to the United States where a citizen can establish or buy business in the USA and reside in the country for as long as an E-2 business is operating. Whether or not it’s exercised, the ability for an investor, or their family, to migrate to the US is of critical importance to high-net-worth individuals. This, combined with Grenada’s visa-free travel access to the UK, Schengen countries, Russia and, what’s notable, China, means Grenadians have access to a number of the largest global economies.
Founded close to a decade ago, Range Developments is an investment and hospitality operator with interests across the East Caribbean – St. Kitts and Nevis, Dominica and Grenada. During this period, Range has assisted over 4,200 individuals with their second citizenship journey and completed two five-star luxury resorts in the region, the Park Hyatt St. Kitts and Cabrits Resort & Spa Kempinski in Dominica, with another, the Six Senses La Sagesse in Grenada, set for completion next year.
“We are the only developer that takes an execution-first approach and we have earned the trust of citizenship by investment community whether this is the Caribbean governments, prospective CBI applicants or indeed the world’s leading hotel operators for one simple reason,” concludes Asaria. “Range Delivers.”
Contact Range Developments at:
[email protected] or call +971 55 887 4216
Investing in second citizenship has more negative socio economic and political impact on the Nigerian system and should be discouraged ,unfortunately those who ought to generate the policies and legislation to check this are the same political actors plundering the nation.
One ,where do they make most of these monies they take out to develop other economies? Illicit
Secondly ,investing the illicit fund in a foreign economy is creating employment for the foreign economy and creating unemployment for Nigeria.
Most of these elites who invest in the second citizenship are behing all the upheavals in the Nigeria system,as the have alternative to shelter themselves and their immediate families.
It should not be encouraged,the great Nations of the world discourages it ,they only encourage it only when it will be beneficial to the government
What an unpatriotic article, it’s actually rather daft. Why take investment advice from Nairametrics when it plans it’s investment ideas around the possibility that Nigeria fails.
I rather think this article is an enlightening insight into the varying “Pandora papers”…
it is rather unfortunate that it is the wealth nations that are using dubious international policies to encourage ignorance looters who milks their own country dry!
It’s a pity this is coming from Nairametrics