GCS at the Caribbean Investment Summit 2024
The Caribbean Investment Summit 2024 (CIS24) highlighted the region’s rising status as a prime investment destination, underscoring its leading role in shaping the future of citizenship by investment through open dialogue and insightful exchanges among leaders in Caribbean investment migration.
Global Citizen Solutions joined key stakeholders, including all heads of state and CIU leaders from participating countries, in a historic moment marking the first investment conference since the COVID-19 pandemic to address critical aspects of Caribbean citizenship programs and alleviate concerns over political uncertainty.
Adalberto Pucca, Head of International Development at Global Citizen Solutions speaking at the CIS24 panel
The three-day event featured high-level panels, including Thomas Anthony, CEO of Investment Migration Agency Grenada (IMA), and McClaude Emmanuel, CEO of St Lucia Citizenship Investment Unit (CIU). Noteworthy contributions to the panels by Global Citizen Solutions included insights from Joe Rice, Senior Immigration Consultant, and Adalberto Pucca, Head of International Development, who both offered their expertise on matters affecting Caribbean citizenship by investment programs, such as:
- Shifts in investor demographics, motivations, and barriers of Caribbean CBI, and how to predict market changes
- Technology-driven improvements in CBI, such as virtual interviews and digitized applications, as well as processes to assess how to enhance transparency and build trust while meeting new market demands
- Establishing post-citizenship relationships between participating nations and their new citizens
- Economic progress in line with sustainability goals, ensuring sustainable economic and social growth
With a focus on sustainable growth and innovation, GCS reinforced existing ties and partnerships with key Caribbean CBI stakeholders. This was evidenced by Joe Rice’s conversation with Carlene Vessel, Deputy CEO of IMA Grenada, who cited that the contribution of industry experts and their willing embrace of Grenadian culture exceeded expectations.
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St Lucia Joins Caribbean CBI Memorandum of Understanding
Building on the momentum from CIS24, on 3 July 2024, St Lucia committed to the new Caribbean Memorandum of Understanding (MoU), putting regional cooperation back in the limelight and joining Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis.
Including an expected minimum investment amount of $200,000 to be introduced on 30 June 2024, this strategic arrangement will ensure greater cooperation among the participating Caribbean countries in relation to their CBI and Caribbean passport issuing processes, as well as bolster integrity, guaranteeing their attractiveness to foreign investors and acceptance by regulatory authorities. The government of St Lucia proposed the following revisions to reaffirm its commitment to the MoU and further enhance its program and CBI in the Caribbean:
- Changes to resolve change-of-name requests.
- Minimum net worth requirements.
- Holding escrow accounts in St Lucia or individual islands.
- A requirement for licensed promoters to submit applications to local authorized agents.
- Preliminary due diligence reports to be provided by licensed promoters.
St Lucia’s inclusion in the Memorandum of Understanding and the unified increase of the minimum investment requirement across all five Caribbean countries marks a seismic shift in Caribbean citizenship by investment and reflects the growing popularity of foreigners choosing to invest in the Caribbean. Michael Martin, Head of St Kitts and Nevis’s Citizenship by Investment Unit, highlighted at CIS24 that Caribbean programs are on par with European programs and should reflect similar pricing, tailoring their approach to attract wealthier clientele.
American Airlines Expands Flights to Caribbean Countries
As American Airlines’ CEO, Robert Isom, revealed plans to expand flight services to the Caribbean, this development can be viewed as an added positive factor in the context of Caribbean investment, offering investors and travelers an unprecedented range of options.
From December 2024, the carrier will launch new routes and increase flight frequency to several Caribbean islands, including Antigua and Barbuda, St Lucia, Barbados, the Dominican Republic, and St Vincent and the Grenadines.
Other announced flight expansions to the Caribbean
Norse Atlantic Airways: Partnering with P&O Cruises, Norse Atlantic will launch flights from Manchester and London to Antigua starting November 2024.
Delta Airlines: Delta Airlines stated it will offer daily direct flights to Antigua and Barbuda from Atlanta and New York City in December 2024.
Sunrise Airways: The ease of intra-Caribbean travel has improved through Sunrise Airways’ new flight routes between Antigua, Dominica, St Kitts, and St Lucia.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
