The coronavirus pandemic has caused a significant decrease in tourism and many Caribbean nations plan to supplement the revenue by selling citizenship for a pretty penny.
According to Bloomberg, St. Kitts and Nevis, Dominica, Antigua and Barbuda, St. Lucia, and Grenada have all update the cost of their passports.
A family of four can obtain St. Kitts and Nevis passports with a $150,000 contribution to the country’s “Sustainable Growth Fund.” This is a $45,000 discount.
St. Kitts and Nevis led the pack with the discounted citizenship to generate income. “In these days of COVID, when tourism is not happening, we have to find ways to create revenue to sustain our economy,” said Les Khan, CEO of St. Kitts and Nevis Citizenship Investment Unit, to Bloomberg.
The citizenship by investment grew into a billion-dollar industry. “Clients look at these citizenship options as volatility management or risk management tools,” said Paddy Blewer, director of the U.K. office of Henley & Partners, to Bloomberg.
![[WATCH] Jelani Days’ Mom Clarifies Reports: Organs Were ‘Completely Liquified’](https://mixsessiondjs.com/wp-content/themes/gridzone/img/thumb-medium.png)
