The business world is witnessing a surge in the number of High Net-worth Individuals (HNWI) looking for a Caribbean passport. And that’s why today, the Caribbean recovery is majorly influenced by these individuals and private equity.

In the latest interview with the CEO of CTrustGlobal, he mentioned a spike in the percentage of individuals applying for secondary citizenship. Most inquiries are from developing nations such as, but not limited to, Pakistan, India, and countries of the Middle East.

“Alternative citizenship gives you all the freedom of traveling visa-free to a lot more places. Apart from this, investing in real estate and setting up a business without much hassle acts as the extra icing, if Caribbean citizenship by investment is their choice,” says CEO CTrustGlobal.

Most countries have citizenship by investment Program – all that differs is the time and price to secure it. One must go through all the research and base their decision according to the requirements and budget. 

Where are the wealthy moving these days? 

“Without a doubt, it’s the Caribbean islands – Caribbean passports that offer visa-free travel to nearly 140 to 160 countries,” says the CEO, CTrustGlobal.

Let’s look at the secrets that make this region so attractive.

A Strong Economic Bounce-Back

The Caribbean is a tourist-dependent region. It remains one of the most prominent destinations in the world. And yet, it’s situated in the eye of the storm. 

Hurricanes have passed through with high frequency and intensity. Some of them are utterly destructive for tourist operators. But many have adapted to the bitterness of rising again from the ashes.

COVID-19 impact may have been even greater to these regions. It struggled with border closures, flight cancellations, and a near-fall of the cruise-ship market. The human impact of the virus affected tens of thousands.

A report by the Caribbean Tourism Organization shows a drop in tourism arrivals in 2020 in comparison to 2019. The decline was estimated to be at 65%, the biggest in the region.

Despite these challenges, more and more HNWIs are eyeing the region. It makes one wonder what secret lies here. One of the reasons is the region’s quick adjustment to situations.

Experts indicate that Caribbean countries were quicker to implement measures for the pandemic. Tourists returned faster compared to other destinations. It outperformed many other parts of the world, which experienced even steeper drops.

Such a strong economy would attract different investors. It’s one of the reasons why HNWIs come here.

The Caribbean enjoys some of the highest levels of Foreign Direct Investment (FDI) globally. Many of its economies have FDI to GDP ratios above 10%.

Although the 2008 financial crisis greatly reduced its FDI flow, the region has witnessed a considerable recovery recently. It’s still one of the significant economic destinations around.

The two countries with the highest number of investments in the Caribbean are India and Nigeria.

So what are the advantages to the Caribbean?

1. A safe environment with stable economic development.
2. Flexible tax policy
3. Excellent quality of life.

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