Opinion – World Citizenship Council (WCC)
REITs, or real estate investment trusts, are companies that own or finance income-producing real estate in a range of property sectors. REITs may hold several types of real estate, ranging from hotels, commercial properties, business parks, hospitals, shopping centers etc..
Investing in Real Estate Investment Trusts (REITs) have a number of benefits for foreigners, than actually buying a real piece of real estate in the Caribbean.
REITs present several benefits such as professional property management by experts, no property registration fee, low investment, flexibility and increased liquidity. Investors can earn a share of the income produced through ownership – without actually having to go out and buy real estate.
Five caribbean countries at the moment offer citizenship through real estate investment with the minimum of $200K investment either as a limited share or full ownership. Grenada is the most expensive of all requiring $350K.
Real estate companies offering citizenship by investment schemes in the Caribbean, need to explore the creation of One Single Caribbean CBI Real Estate Investment Trust (REIT) with a minimum of atleast $10 million benefiting the five caribbean countries offering CIPs.
The pool of funds can be invested in hotels, commercial properties, shopping malls, business parks creating more jobs across five caribbean nations.
Foreign investors investing $200K share in the REITs should be able to qualify for passport with their family depending on the country.
The Caribbean can follow Ireland’s example. Ireland has one such fund known as IDLF fund authorised by the Central bank of Ireland which gives people the opportunity to invest in Ireland, supporting Irish job creation. The fund offers low cost asset-secured finance to the Irish hotel sector. Foreign investors also qualify for Irish residency by investing 1 million euros in this fund.
About:
World Citizenship Council (WCC) is a non-profit organization for research, development and promotion of the CBI/RBI schemes in the world. The Council focuses on key areas, such as, due diligence and new technologies such as blockchain and will help countries with these issues. Other issues such as migration, refugees, taxation and dual citizenship will be on the forefront.
The Council will help countries on coupling real estate with investment based migration schemes bringing more benefits to economy and creation of jobs.
