Luxury Locations issue 26

The application process is fairly straightforward. Investors must be 18 or over and be able to show they are of excellent character and in good health. Most applications are approved within just a few months.

rentals. The application process is fairly straightforward. Investors must be 18 or over and be able to show they are of excellent character and in good health. Most applications are approved within just a few months. Easy entry to European Union countries might be a draw for investors but it has seen CIPs come under pressure from the EU which fears lax oversight helps criminals get through its borders. In October, the European Parliament passed reforms which beef up the EU’s authority to suspend visa-free travel for CIP countries. “The new rules will allow for swifter and more decisive action to address potential challenges – with new grounds to suspend visa-free regimes and swifter and more flexible procedures,” a European Commission spokesperson told Luxury Locations Magazine. One way the five Caribbean CIP islands are fighting back is through the establishment of a regional regulator to set standards, monitor operations and ensure compliance. Additionally, six principles agreed with the US include enhanced due diligence, regular audits, mandatory interviews with all applicants, and the removal of a loophole that previously

enabled an applicant denied by one island to apply in another. Meanwhile, interest in investing in an Antiguan passport shows little sign of abating. Jeff Stapley, who lauded the help of Luxury Locations’ Nadia Dyson in purchasing a villa remotely during the Covid pandemic, describes it as “the best decision we’ve ever made”. Nadia says reasons for taking the plunge range from expanding one’s investment opportunities and efficient tax planning, to simply choosing a lifestyle that’s safe, stable and sunny. It’s not just a document that sits in a drawer, she adds, but a passport to freedom. n by Gemma Handy

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