Introduction - Differences between European Citizenship and Caribbean Citizenship
Are you thinking of alternative citizenship for yourself and your family?
The reasons for considering second citizenship could vary from person to person. These may include a better lifestyle, future security or the right to travel.
You might also be interested in the 11 Reasons Why People Consider Second Citizenship
The one thing which everybody obviously keeps into consideration when looking to acquire second citizenship is cost.
There are several low-cost citizenship by investment programs to choose from, most of which are offered by the Caribbean countries:
Hereunder are the most popular ones,
- Dominica Citizenship by Investment;
- St Kitts & Nevis Citizenship Program;
- Antigua and Barbuda Citizenship by Investment;
- Grenada Citizenship by Investment;
- St Lucia Citizenship by Investment; and
- Moldova Citizenship by Investment
The above programs are very similar in nature, albeit with slight differences according to the laws of the country in question. They are also relatively quick and easy to qualify.
Low-cost citizenship by investment programs are popular options because they will likely allow you to travel to more countries than is possible using your present passport.
Presently, the aforementioned citizenship by investment programs offer the opportunity for visa-free travel to about 120 countries, but only allow you to live permanently as a citizen in the country of issuance of the passport.
European citizenship by investment programs, on the other hand, allows you to enter and permanently live in significantly more countries.
For example, Malta, with the most powerful citizenship by investment program globally, offers visa-free/eTA travel to 183 countries. It is also the only program worldwide to have a visa waiver agreement with the United States of America.
But it is equally true that the Malta citizenship by investment program is far more expensive.
So you may be asking if the difference between the programs is visa-free travel to a maximum of 60 or so more countries,
- Why is it that the citizenship by investment programs offered by the European countries are so much more expensive when compared to the those issued by the Caribbean?
- Why are the background checks, due diligence and legal documentation requirements more difficult?
- Why is it you need to establish genuine links with a European country. At the same time, you might never even have to physically visit the Caribbean to be granted citizenship and granted a second passport? And finally
- Why, notwithstanding all of the above, do the most successful people still opt for the Malta program?
If we had to summarize the answer in one sentence, we would say that European citizenship is not only about gaining a more powerful passport which allows you to travel. It is so much more …
So we thought we’ll simplify it for you and list 12 Differences between European Citizenship by investment programs using Malta Citizenship by Investment as an example, against those issued by the Caribbean.
While the Caribbean islands are beautiful and offer one of the cheapest and fastest investment programs, it might be less likely you would consider living there full-time.
Let us explain and compare how the Malta Citizenship by Investment is better than all the Caribbean programs.
| Right of Establishment in Business & Work | ||
|
|
Malta Citizenship by Investment |
Low-Cost Citizenship Programs |
| Number of countries you have establishment rights in | 32 European/EEA countries (List of countries mentioned below). | One |
| Right to both enter and access the 26 countries that are part of Schengen | Unrestricted entry and access (subject to Schengen legislation) | Restricted to entry with a maximum of 90 days in 6 months |
|
Right of establishment in EU member states |
Yes. All 27 countries (complete list below) | No |
| Right to establishment in European Economic Area | Yes. Iceland, Liechtenstein and Norway. and Switzerland | No |
| Right to establishment in the Single Market | Yes. Switzerland | No |
| Freedom of Travel | ||
| Malta Citizenship by Investment | Low-Cost Citizenship Programs | |
| Rank on Passport Index | 9th | St. Kitts & Nevis ranked 27th |
| Number of countries you can travel visa-free or with an eTA | 183 countries | St. Kitts & Nevis at 151 countries |
| eTa to United States | Yes | No |
| Australia | Yes | No |
| Canada | Yes | No |
| Hong Kong (SAR China) | Yes | Possible on some but not all |
| Singapore | Yes | Possible on some but not all |
| United Arab Emirates | Yes | No |
| United Kingdom | Yes | Possible on some but not all |
| Country connectivity with the rest of the world. | Good | Poor |
| Business & Economy | ||
| Malta Citizenship by Investment | Low-Cost Citizenship Programs | |
| Stable currency |
Yes. Euro | No |
| Fitch Rating (Rating Company) |
A+ | Highest is B- |
| English as official language | Yes | Some but not all |
| Growth Rate (QTR - 2018) | 7.50% | Moldova 1.2% |
| Human Development Index | 29th out of 118 countries | Moldova ranking 112th of 189 |
| Health & Safety | ||
| Malta Citizenship by Investment | Low-Cost Citizenship Programs | |
| Rank | Risk of Natural disasters | Malta is the 2nd safest country in the world |
Highest is 62nd |
| Right to receive assistance from other EU embassies and consulates | Yes | No |
| Risk | Crime Index | Low | Moldova ranked Medium |
| Life Expectancy | Malta ranks 16th out of 183 countries | Antigua & Barbuda rank 49th of 183 countries |
| Quality of Healthcare | Malta ranks at 27th | Antigua & Barbuda at 75th |
Benefits of Citizenship through investment in Malta further explained
We thought an in-depth explanation of some of the factors would be of more help,
So, to begin with, let us first talk about your
Relocation Options (by Investment)
The Government of Malta offers various Investment programs to third-country nationals to immigrate.
You can take up Maltese Citizenship by a unique investment program called:
Likewise, you can become a Resident of Malta through two exclusive Residency by investment programs, namely:
- Malta Residence and Visa Program (MRVP) aka Malta Residency by Investment;
- Global Residence Program (GRP).
MRVP grants you permanent residency in Malta whereas GRP gives you a special tax status.
You can couple MRVP with GRP to obtain enhanced benefits.
Business
You automatically get the right to set up your business in Malta, when you take up Maltese citizenship by investment.
Alongside you are also granted the right to work or do business in any of the 27 European Union countries. Other than that, you can also:
- Enjoy and benefit from Malta’s tax-efficient system on both personal and corporate;
- Freely move your capital and income;
- Invest in property in Malta and make the most of the stable and booming real estate market.
As a Maltese resident, you can:
- Through a separate process, do business in Malta and other European Union member states; and
- Opt to avail from the tax status under the Global Residence Program.
Live
If you are granted Malta citizenship (by investment), you can:
- Gain settlement rights in the following countries;
Europe
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Vatican City
- Enjoy a liberal and politically stable country;
- Live the Mediterranean lifestyle;
- Enjoy mild winters and warm summers in an amazing climate;
- Easily communicate through English as an official language.
If you take up residence in Malta, you can
- Indefinitely reside, settle and stay in Malta; and
- Once you achieve European Long-Term Residence status you gain increased rights in the following countries;
| Austria | Italy |
| Belgium | Latvia |
| Bulgaria | Lithuania |
| Croatia | Luxembourg |
| Cyprus | Netherlands |
| Czechia | Poland |
| Estonia | Portugal |
| Finland | Romania |
| France | Slovakia |
| Germany | Slovenia |
| Greece | Spain |
| Hungary | Sweden |
| Iceland |
Travel
By taking citizenship through investment, you can:
- Gain one of the world’s most powerful passports;
- Easily travel to 183 countries including the USA, Canada and Australia. So no more visa application hassles;
- Travel and cross Schengen borders without checks across 26 Schengen countries.
So, with a Maltese passport in your pocket, you will not require a separate Schengen visa and will also gain rights to 183 countries with which Malta has visa-free travel agreements.
But by taking up Maltese residency you gain the right to enter the Schengen area without border checks.
Related: Benefits of Schengen Countries
Family
Once you become a Maltese citizen, you can:
- Protect your family legacy by passing on citizenship to future generations. Even if they are born outside of Malta, they will inherit and attain citizenship by descent;
- Secure your children’s future through a world-class education system;
- Get access to leading health care institutions; and
- Relax in what has been voted as one of the safest countries in the world.
As a Resident of Malta, you can
- Apply for a European Long-Term Residence permit after five (5) years in Malta;
- With a special permit, you can work or do business.
- Ensure your children’s future through a top-class education system; and
- Get access to leading health care institutions.
Unlike citizenship which can be passed onto future generations, Residence CANNOT be transferred. However, the MRVP extends and allows for this option through a notional €5,000 contribution.
Conclusion
We can say that though the Caribbean islands are scenic and offer low-cost citizenship programs as compared to European programs. You still might not consider permanently relocating to those islands.
Whereas, Maltese citizenship can open the doors to living, studying and working elsewhere in Europe without restrictions.
Nicely tucked between South of Sicily and North Africa, Malta’s geographical location can also work as a doorway to the European, African and Middle Eastern markets.
Depending on what you are looking to accomplish for yourself and your family, Our Relocation Services team of highly skilled professionals can offer you the best personalised and holistic solution for your every need. Reach out to us at info@endevio.com for more clarifications.
